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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.
HubSpot
HubSpot
HubSpot Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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