HubSpot, Inc. (HUBS) Income Statement
HUBS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHUBS revenue and net income
Where HUBS's revenue goes
2025Each bar shows an amount and its share of revenue. HUBS kept 1.5% of revenue as net income.
HUBS profit margins
HUBS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.2% | +21.8% | +28.8% | +32.9% |
| Gross profit | +17.4% | +22.6% | +29.6% | +34.6% |
| Operating income | — | — | — | — |
| Net income | +892.0% | — | — | — |
| EPS (diluted) | −12.6% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HUBS quarterly EPS vs estimates
HubSpot beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.91).
HUBS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.13B | $2.63B | $2.17B | $1.73B | $1.30B | $883.0M | $674.9M | $513.0M | $375.6M | $271.0M |
| Cost of revenue | $508.5M | $393.3M | $338.4M | $308.0M | $258.9M | $167.0M | $130.0M | $100.4M | $75.7M | $61.9M |
| Gross profit | $2.62B | $2.23B | $1.83B | $1.42B | $1.04B | $716.1M | $544.9M | $412.6M | $299.9M | $209.1M |
| Research & development | $905.9M | $778.7M | $617.7M | $442.0M | $302.0M | $205.6M | $158.2M | $117.6M | $70.4M | $46.0M |
| Sales, general & admin | $1.71B | $1.52B | $1.32B | $1.08B | $794.6M | $561.3M | $433.7M | $343.3M | $269.6M | $207.8M |
| Total operating expenses | $2.61B | $2.30B | $2.03B | $1.53B | $1.10B | $766.9M | $591.9M | $460.9M | $340.0M | $253.8M |
| Operating income | $11.4M | −$67.6M | −$200.9M | −$102.9M | −$54.8M | −$50.8M | −$47.0M | −$48.3M | −$40.1M | −$44.7M |
| Interest income | $66.2M | $82.7M | $58.8M | $15.0M | $1.2M | $7.8M | $19.4M | $9.2M | $3.8M | $854,000 |
| Interest expense | $876,000 | $3.7M | $3.8M | $3.8M | $30.3M | $37.0M | $22.8M | $21.4M | $13.2M | $265,000 |
| Income before taxes | $69.5M | $28.7M | −$150.6M | −$98.5M | −$73.8M | −$80.8M | −$50.8M | −$62.0M | −$50.0M | −$45.0M |
| Income taxes | $23.6M | $24.0M | $13.9M | $8.9M | $4.0M | $4.2M | $3.0M | $1.9M | −$10.3M | $533,000 |
| Net income | $45.9M | $4.6M | −$164.5M | −$107.3M | −$77.8M | −$85.0M | −$53.7M | −$63.8M | −$39.7M | −$45.6M |
| EBITDA | $206.6M | $129.2M | −$74.1M | −$36.5M | $1.6M | −$6.7M | $838,000 | −$17.1M | −$21.1M | −$33.6M |
| EPS (diluted) | $7.10 | $8.12 | −$1.52 | −$2.35 | −$1.67 | −$1.91 | −$1.27 | $0.21 | $0.25 | −$0.36 |
| Gross margin | 83.8% | 85.0% | 84.4% | 82.2% | 80.1% | 81.1% | 80.7% | 80.4% | 79.8% | 77.2% |
| Operating margin | 0.4% | −2.6% | −9.3% | −5.9% | −4.2% | −5.8% | −7.0% | −9.4% | −10.7% | −16.5% |
| Net margin | 1.5% | 0.2% | −7.6% | −6.2% | −6.0% | −9.6% | −8.0% | −12.4% | −10.6% | −16.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $911.7M | $881.0M | $846.3M | $809.5M | $760.9M | $714.1M | $703.2M | $669.7M | $637.2M | $617.4M | $581.9M | $557.6M |
| Cost of revenue | $160.9M | $145.7M | $137.7M | $133.5M | $122.2M | $115.1M | $103.3M | $99.3M | $95.5M | $95.1M | $88.6M | $85.6M |
| Gross profit | $750.9M | $735.3M | $708.6M | $676.0M | $638.7M | $599.0M | $599.8M | $570.4M | $541.7M | $522.3M | $493.3M | $471.9M |
| Research & development | $225.8M | $234.2M | $220.8M | $260.9M | $237.3M | $220.1M | $213.7M | $191.2M | $198.2M | $175.6M | $163.2M | $156.9M |
| Sales, general & admin | $480.6M | $472.1M | $439.2M | $80.7M | $424.9M | $405.3M | $395.8M | $387.9M | $366.4M | $369.1M | $350.8M | $332.8M |
| Total operating expenses | $707.5M | $706.3M | $660.0M | $664.8M | $663.3M | $626.5M | $610.6M | $580.0M | $565.6M | $545.6M | $517.6M | $490.5M |
| Operating income | $43.3M | $29.0M | $48.6M | $11.2M | −$24.6M | −$27.5M | −$10.8M | −$9.6M | −$23.9M | −$23.2M | −$24.3M | −$18.6M |
| Interest income | $9.4M | $12.9M | $13.1M | $14.3M | $18.3M | $20.6M | $21.8M | $21.8M | $20.4M | $18.7M | $18.6M | $16.2M |
| Interest expense | $395,000 | $245,000 | $0 | $4,000 | $227,000 | $644,000 | $949,000 | $936,000 | $901,000 | $935,000 | $984,000 | $950,000 |
| Income before taxes | $49.6M | $39.3M | $61.7M | $23.1M | −$5.5M | −$9.9M | $13.0M | $10.6M | −$2.7M | $7.7M | −$9.2M | −$5.0M |
| Income taxes | $6.2M | $6.7M | $7.2M | $6.6M | −$2.2M | $11.9M | $8.0M | $2.5M | $11.8M | $1.8M | $4.4M | −$1.4M |
| Net income | $43.3M | $32.6M | $54.4M | $16.5M | −$3.3M | −$21.8M | $5.0M | $8.1M | −$14.4M | $5.9M | −$13.6M | −$3.6M |
| EBITDA | $94.4M | $79.8M | $100.2M | $58.8M | $28.0M | $19.6M | $42.3M | $36.6M | $20.4M | $29.9M | $10.9M | $16.5M |
| EPS (diluted) | $1.12 | $2.72 | $3.09 | $0.04 | $2.19 | $1.78 | $2.32 | $2.18 | $1.94 | $1.68 | $1.76 | −$0.11 |
| Gross margin | 82.4% | 83.5% | 83.7% | 83.5% | 83.9% | 83.9% | 85.3% | 85.2% | 85.0% | 84.6% | 84.8% | 84.6% |
| Operating margin | 4.8% | 3.3% | 5.7% | 1.4% | −3.2% | −3.8% | −1.5% | −1.4% | −3.8% | −3.8% | −4.2% | −3.3% |
| Net margin | 4.8% | 3.7% | 6.4% | 2.0% | −0.4% | −3.1% | 0.7% | 1.2% | −2.3% | 1.0% | −2.3% | −0.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HUBS's financial statements (latest annual report filed February 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HUBS financial results
In fiscal year 2025 (ended December 31, 2025), HubSpot reported revenue of $3.1 billion, up 19.2% from the year before. It had net income of $45.9 million (up 892.0%), a net profit margin of 1.5%. Diluted earnings per share came to $7.10. Over five years revenue grew at an average rate of 28.8% a year.
See the HUBS stock overview for the latest quote and news, or the HUBS chart for price history and technical indicators.
HUBS income statement FAQ
What is HubSpot's annual revenue?
HubSpot reported total revenue of $3.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 19.2% from $2.6 billion the previous year.
Is HubSpot profitable?
Yes. HubSpot reported net income of $45.9 million in fiscal 2025, a net profit margin of 1.5%; its operating margin was 0.4%.
What is HubSpot's gross margin?
HubSpot's gross margin was 83.8% in fiscal 2025: for every $100 of revenue, HubSpot kept $84 after the direct cost of its products and services.
How much does HubSpot spend on research and development?
HubSpot spent $905.9 million on research and development in fiscal 2025, 28.9% of revenue.
How fast is HubSpot growing?
Revenue grew 28.8% a year on average over the last five fiscal years, from $883.0 million to $3.1 billion.
What are HubSpot's earnings per share?
HubSpot earned $7.10 per diluted share in fiscal 2025, compared with $8.12 a year earlier.
When will HubSpot report its next earnings?
HubSpot is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does HubSpot's fiscal year end?
HubSpot's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 11, 2026.