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Sep 30, 2023
HubSpot Q3 2023 Earnings Report
HubSpot's Q3 2023 results were announced, demonstrating revenue growth and progress towards becoming the #1 customer platform.
Key Takeaways
HubSpot reported a strong Q3 2023 with total revenue of $557.6 million, a 26% increase compared to Q3'22. The company grew its customer base to 194,098, up 22% year-over-year, and generated $64.7 million in non-GAAP free cash flow.
Total revenue increased by 26% to $557.6 million compared to Q3'22.
Subscription revenue grew by 25% to $545.8 million compared to Q3'22.
GAAP operating loss was ($20.4) million, an improvement from ($32.2) million in Q3'22.
Non-GAAP operating income increased to $90.2 million, compared to $40.7 million in Q3'22.
Revenue by Segment
Forward Guidance
HubSpot is issuing guidance for the fourth quarter of 2023 and full year 2023. Total revenue is expected to be in the range of $556 million to $558 million for Q4 2023 and $2.144 billion to $2.146 billion for full year 2023.
Positive Outlook
- Total revenue is expected to be in the range of $556 million to $558 million for Q4 2023.
- Favorable foreign exchange rates are expected to be a 2 point tailwind to fourth quarter 2023 revenue growth.
- Non-GAAP operating income is expected to be in the range of $85 million to $86 million for Q4 2023.
- Non-GAAP net income per common share is expected to be in the range of $1.53 to $1.55 for Q4 2023.
- Total revenue is expected to be in the range of $2.144 billion to $2.146 billion for full year 2023.
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
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