Hubspot, Inc. · NYSE:HUBS
Hubspot — Q3 2025 Earnings Presentation
25 slides from Hubspot's earnings presentation, Nov 5, 2025
Slide 1: Investor Presentation Q3 2025
Investor Presentation Q3 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management’s expectations of future financial and operational performance and operational expenditures, expe
Slide 3: Our Strategy: Be the #1 AI-powered customer platform for scaling companies
Option 2 Our Strategy Be the #1 AI-powered customer platform for scaling companies. 3
Slide 4: SaaS to Agentic
SaaS Agentic Action Hubs Hubs and agents Structured, unstructured, Context Structured data and external signals Collaboration Across teams Across humans and agents 4
Slide 5: Powerful on its own and even stronger together
Action: Where work happens Powerful on it’s own and even Orchestration: Connect everything stronger together. Context: Know your customer 5
Slide 6: The AI-powered customer platform
Action: Where work happens Hubs Breeze Assistant Breeze Agents The AI-powered Orchestration: Connect everything Intelligence APIs & MCPs Studio customer Context: Know your customer platform. Smart CRM Structured Data Unstructured Data External Data ECOSYSTEM • SECURITY • GOVERNANCE 6
Slide 7: HubSpot's Platform Journey: Marketing App to AI-powered Smart CRM
HubSpot’s Platform Journey: Marketing App to AI-powered Smart CRM Smart Content Hub CRM Frame AI Acquisition Commerce Hub XFunnel Acquisition $3B Operations Hub Dashworks $2B Acquisition CRM Cacheflow CMS Hub Acquisition Service Hub Sales Hub Clearbit Acquisition $1B Marketing Hub $500M Performable R
Slide 8: We are positioned for long-term durable growth
Current growth levers delivering results We are positioned Multi-hub and larger deals upmarket for long-term Downmarket acquisition velocity Platform value resulting in strong retention durable growth Emerging growth levers gaining traction Executing well on pricing model changes Delivering clear AI
Slide 9: Financial Overview Q3 2025
Financial Overview Q3 2025
Slide 10: Q3 2025 Financial Summary
Q3 2025 Financial Summary Currency Quarterly Increase Tailwind Constant Q3 2025 Actuals Results (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $810M 21% ~2.5% 18% Subscription Revenue $792M 21% – – Professional Services & Other Revenue $18M 19% – – Gross Profit $689M 19% – – Gross Profit Margi
Slide 11: Q4 2025 Guidance Summary
Q4 2025 Guidance Summary Currency Quarterly Increase Tailwind Constant Q4 2025 Guidance Guidance (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $828 - 830M 18% ~2% 16% Operating Profit1 $183M - $184M 38% – – Operating Profit Margin1 22% 3% ~0.5% 22% Net income per share1 $2.97 - $2.99 28% – –
Slide 12: Full Year 2025 Guidance Summary
Full Year 2025 Guidance Summary Currency Full Year Increase Tailwind Constant Full Year 2025 Guidance Guidance (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $3,113M - $3,115M 19% ~1% 18% Operating Profit1 $574M - $575M 25% – – Operating Profit Margin1 18% 1% Flat 18% Net income per share1 $9.
Slide 13: Consistent Revenue Growth
Consistent Revenue Growth $810M 1 29% CAGR $152M Q1’19 → Q3’25 Q1 2019 Q3 2025 Quarterly Revenue 1 CAGR = Compound Annual Growth Rate. Revenue CAGR based on as-reported results and includes the impact from currency. 13
Slide 14: Consistent Customer Growth
Consistent Customer Growth 279k 1 26% CAGR 61k Q1’19 → Q3’25 Q1 2019 Q3 2025 Quarterly Customer Count 1 CAGR = Compound Annual Growth Rate. 14
Slide 15: Substantial Operating Profit Growth
Substantial Operating Profit Growth $161M 1 47% CAGR $13M Q1’19 → Q3’25 Q1 2019 Q3 2025 Quarterly Operating Profit 1 CAGR = Compound Annual Growth Rate. Operating profit and operating profit margin are non-GAAP metrics. Please refer to the appendix for a reconciliation of GAAP to non-GAAP figures. 15
Slide 16: Strong Free Cash Flow & Balance Sheet Position
Strong Free Cash Flow & Balance Sheet Position $549M $1.7B cash position 18% Margin $65M FCF, TTM Q3’25 Q1 2019 Q3 2025 Trailing Twelve Month Free Cash Flow 1 Free cash flow (FCF) and free cash flow margin are non-GAAP metrics. Please refer to the appendix for a reconciliation of GAAP to non-GAAP figur
Slide 17: Confident in Our Ability to Deliver More Leverage Over Time
Confident in Our Ability to Deliver More Leverage Over Time 18% 20-22% 25% 2025e1 2027 Long-Term Margin Margin Target Margin Target 1 2025e margin represents the midpoint of our full year 2025 non-GAAP operating profit margin guidance. Operating profit margin targets are non-GAAP and reflect our current
Slide 18: Key Takeaways
Key Takeaways 1 2 3 Platform of choice in Innovation fueling Delivering strong large and growing TAM durable and diverse financial results growth opportunities 18
Slide 19: Thank you
Thank you Be
Slide 20: Appendix
Appendix 20
Slide 21: GAAP to non-GAAP reconciliations
GAAP to non-GAAP reconciliations 21
Slide 22: Non-GAAP Operating Income
Non-GAAP Operating Income 22
Slide 23: Free cash flow
Free cash flow GAAP net cash and cash equivalents provided by operating activities Purchases of property & equipment Capitalization of software development costs Repayment of 2022 Convertible Notes attributable to the debt discount Payment of restructuring charges Free cash flow GAAP net cash and ca
Slide 24: Forecasted Non-GAAP operating income and income per share
Forecasted Non-GAAP operating income and income per share 24
Slide 25: Definitions
Definitions Customers: We define our Customers at the end of a particular period as the number of business entities with one or more paid subscriptions to our CRM Platform either purchased directly with us or purchased from a Solutions Partner. We do not include in Customers business entities with o