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Sep 30, 2022
HubSpot Q3 2022 Earnings Report
HubSpot's performance remained strong, marked by revenue growth and customer acquisition.
Key Takeaways
HubSpot reported a total revenue of $444.0 million, a 31% increase compared to Q3 2021. Subscription revenue was $435.0 million, up 32% year-over-year, while professional services and other revenue was $8.9 million, down 13% year-over-year. The company's GAAP net loss was ($31.4) million, or ($0.65) per share, compared to ($13.7) million, or ($0.29) per share in Q3 2021.
Total revenue increased by 31% compared to Q3 2021, reaching $444.0 million.
Subscription revenue grew by 32% year-over-year, amounting to $435.0 million.
The company grew customers to 158,905, up 24% from the previous year.
Average subscription revenue per customer was $11,233, a 7% increase compared to Q3 2021.
HubSpot
HubSpot
HubSpot Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
HubSpot provided guidance for the fourth quarter of 2022, expecting total revenue to be in the range of $444 million to $446 million and non-GAAP net income per common share to be in the range of $0.82 to $0.84. For the full year 2022, total revenue is expected to be in the range of $1.705 billion to $1.707 billion, and non-GAAP net income per common share is expected to be in the range of $2.48 to $2.50.
Positive Outlook
- Total revenue is expected to be in the range of $444 million to $446 million for Q4 2022.
- Non-GAAP operating income is expected to be in the range of $47 million to $49 million for Q4 2022.
- Non-GAAP net income per common share is expected to be in the range of $0.82 to $0.84 for Q4 2022.
- Total revenue is expected to be in the range of $1.705 billion to $1.707 billion for the full year 2022.
- Non-GAAP operating income is expected to be in the range of $152 million to $154 million for the full year 2022.
Challenges Ahead
- Unfavorable foreign exchange rates are expected to be a 9 point headwind to fourth quarter 2022 revenue growth.
- Unfavorable foreign exchange rates are expected to be a 6 point headwind to full year 2022 revenue growth.
- GAAP operating income range ($36,974)-($34,974) for Q4 2022
- GAAP net loss range ($34,037)-($32,787) for Q4 2022
- GAAP net loss range ($127,797)-($126,547) for full year 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income