Loading...
•
Jun 30, 2023
HubSpot Q2 2023 Earnings Report
HubSpot's financial performance demonstrated strong growth in revenue and customer base, with increased profitability on a non-GAAP basis.
Key Takeaways
HubSpot reported a 25% increase in total revenue to $529.1 million, driven by subscription revenue growth. The company's customer base grew by 23% year-over-year, reaching 184,924 customers. While GAAP operating margin was negative, non-GAAP operating margin improved to 14.0%.
Total revenue increased by 25% compared to Q2 2022, reaching $529.1 million.
Subscription revenue grew by 26% year-over-year, amounting to $517.7 million.
The customer base expanded to 184,924, a 23% increase from the previous year.
Non-GAAP operating margin improved to 14.0%, compared to 7.0% in Q2 2022.
Revenue by Segment
Forward Guidance
HubSpot provided guidance for the third quarter and full year 2023, including revenue and non-GAAP operating income estimates.
Positive Outlook
- Total revenue for Q3 2023 is expected to be in the range of $532.0 million to $534.0 million.
- Favorable foreign exchange rates are expected to be a one to two point tailwind to third quarter 2023 revenue growth.
- Non-GAAP operating income for Q3 2023 is expected to be in the range of $67.0 million to $69.0 million.
- Total revenue for full year 2023 is expected to be in the range of $2.116 billion to $2.122 billion.
- Favorable foreign exchange rates are expected to be a 50 basis points tailwind to full year 2023 revenue growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...