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HubSpot
🇺🇸 NYSE:HUBS
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Jun 30, 2024

HubSpot Q2 2024 Earnings Report

HubSpot's Q2 2024 results were announced, demonstrating revenue growth and profitability.

Key Takeaways

HubSpot reported a solid Q2 2024 with a 20% increase in total revenue, reaching $637.2 million. The company's GAAP operating loss improved significantly, and non-GAAP operating income also increased. Customer growth reached 228,054, up 23% year-over-year.

Total revenue increased by 20% compared to Q2 2023, reaching $637.2 million.

GAAP operating loss improved from ($116.2) million in Q2 2023 to ($23.9) million in Q2 2024.

Non-GAAP operating income grew to $109.3 million, compared to $76.6 million in Q2 2023.

Customer base grew to 228,054, a 23% increase compared to June 30, 2023.

Total Revenue
$637M
Previous year: $529M
+20.4%
EPS
$1.94
Previous year: $1.34
+44.8%
Total Customers
228.05K
Previous year: 184.92K
+23.3%
ARPU
$11.2K
Previous year: $11.4K
-1.9%
Gross Profit
$542M
Previous year: $442M
+22.6%
Cash and Equivalents
$798M
Previous year: $457M
+74.5%
Free Cash Flow
$92.1M
Previous year: $65.7M
+40.3%
Total Assets
$3.36B
Previous year: $2.73B
+23.0%

HubSpot

HubSpot

HubSpot Revenue by Segment

Forward Guidance

HubSpot provided guidance for Q3 2024 and full year 2024. For Q3, total revenue is expected to be in the range of $646.0 million to $647.0 million, and non-GAAP operating income is expected to be between $107.0 million and $108.0 million. For the full year, total revenue is projected to be between $2.567 billion and $2.573 billion, with non-GAAP operating income ranging from $437.0 million to $441.0 million.

Positive Outlook

  • Total revenue is expected to be in the range of $646.0 million to $647.0 million for Q3 2024.
  • Non-GAAP operating income is expected to be in the range of $107.0 million to $108.0 million for Q3 2024.
  • Non-GAAP net income per common share is expected to be in the range of $1.89 to $1.91 for Q3 2024.
  • Total revenue is expected to be in the range of $2.567 billion to $2.573 billion for full year 2024.
  • Non-GAAP operating income is expected to be in the range of $437.0 million to $441.0 million for full year 2024.

Challenges Ahead

  • Foreign exchange rates are expected to have a neutral impact to third quarter 2024 revenue growth.
  • Guidance assumes approximately 53.5 million weighted average diluted shares outstanding for Q3 2024.
  • Foreign exchange rates are expected to have a neutral impact to full year 2024 revenue growth.
  • Guidance assumes approximately 53.4 million weighted average diluted shares outstanding for full year 2024.
  • Estimates assume, among other things, the occurrence of no additional acquisitions, and no further revisions to stock-based compensation and related expenses.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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