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HubSpot
🇺🇸 NYSE:HUBS
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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.

Total Revenue
$444M
Previous year: $339M
+30.9%
EPS
$0.69
Previous year: $0.5
+38.0%
Total Customers
158.91K
Previous year: 128.14K
+24.0%
ARPU
$11.2K
Previous year: $10.5K
+6.6%
Gross Profit
$362M
Previous year: $270M
+34.2%
Cash and Equivalents
$332M
Previous year: $288M
+15.0%
Free Cash Flow
$35.5M
Previous year: $38.2M
-7.1%
Total Assets
$2.3B
Previous year: $2.07B
+11.2%

HubSpot

HubSpot

HubSpot Revenue by Segment

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

Company Overview

Full financial data and analysis

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