HubSpot Growth and Innovation Overview
GAAP to Non-GAAP Reconciliations
2018
2019
2020
2021
2022
2 of
% of
$'000
Revenues
$'000s
Revenues
$ '000
% of
Revenues
$'000
% of
Revenues
$ '000 s
% of
Revenues
Cost of Revenue
Subscription
Stock-based compensation
69,718
14%
98,510
15%
130,685
15%
211,132
16%
257,513
15%
(1,476)
0%
(3,127)
0%
(4,408)
0%
(6,297)
0%
(9,076)
-1%
Amortization of acquired intangibles
(1,394)
0%
(3,201)
0%
(2,340)
0%
(937)
0%
(1,203)
0%
Gain on termination of operating leases
0%
0%
0%
395
0%
0%
Loss on disposal of fixed assets
0%
0%
0%
Non-GAAP subscription
66,848
13%
92,182
14%
123,937
14%
Professional services and other
30,639
6%
31,448
5%
36,274
4%
Stock-based compensation
(2,924)
-1%
(2,829)
0%
(2,536)
0%
Gain on termination of operating leases
0%
0%
0%
Loss on disposal of fixed assets
0%
0%
0%
Non-GAAP professional services and other
27,715
5%
28,619
4%
33,738
4%
༔ག་
(600)
0%
0%
203,693
16%
247,234
14%
47,725
4%
56,746
3%
(3,092)
0%
(4.393)
0%
275
0%
0%
(415)
0%
0%
44,908
3%
52,353
3%
Gross Margin
412,623
80%
544,902
81%
716,067
81%
1,041,801
80%
1,416,710
82%
Gross margin
Stock-based compensation
4,400
1%
5,956
1%
6,944
1%
9,389
1%
13,469
Amortization of acquired intangible assets
1,394
0%
3,201
0%
2,340
0%
662
0%
1,203
0%
Gain on termination of operating leases
0%
0%
0%
(670)
0%
0%
0%
0%
0%
1,015
0%
0%
Loss on disposal of fixed assets
418,417
82%
554,059
82%
725,351
82%
1,052,197
81%
1,431,382
83%
Non-GAAP gross margin
Operating Expenses
Research and development
117,603
23%
158,237
23%
205,589
23%
301,970
23%
442,022
Stock-based compensation
(23,328)
-5%
(33,748)
-5%
(39,366)
-4%
(61,614)
-5%
(107,517)
Acquisition/disposition related income
(2,696)
-1%
(357)
0%
(1,287)
0%
(1,152)
0%
300
Gain on termination of operating leases
0%
0%
0%
1,346
0%
Loss on disposal of fixed assets
0%
0%
0%
(2,036)
0%
Non-GAAP research and development
91,579
18%
124,132
18%
164,936
19%
238,514
18%
334,805
Sales and marketing
267,444
52%
340,685
50%
452,081
51%
649,681
50%
886,069
Stock-based compensation
(31,099)
-6%
(36,599)
-5%
(50,552)
-6%
(67,413)
-5%
(107,640)
Amortization of acquired intangible assets
0%
0%
(79)
0%
(389)
0%
(1,426)
Acquisition related expenses
0%
0%
0%
(367)
0%
0%
1,839
0%
Gain on termination of operating leases
0%
0%
(2,781)
0%
Loss on disposal of fixed assets
Non-GAAP sales and marketing
0%
236,345
46%
304,086
45%
401,450
45%
580,570
45%
777,003
General and administrative
75,834
15%
92,971
14%
109,225
12%
144,949
11%
Stock-based compensation
(17,434)
-3%
(21,451)
-3%
(24,626)
-3%
(28,345)
-2%
197,720
(47,223)
0%
(552)
0%
(545)
0%
(568)
0%
Acquisition related expenses
Gain on termination of operating leases
0%
0%
0%
421
0%
Loss on disposal of fixed assets
0%
0%
0%
(636)
0%
Non-GAAP general and administrative
58,400
11%
70,968
11%
84,054
10%
115,821
9%
150,497
*******888*
11%
-3%
Loss from Operations
Loss from operations
(48,258)
-9%
(46,991)
-7%
(50,828)
-6%
(54,799)
-4%
(109,101)
-6%
Stock-based compensation.
76,261
15%
97,754
14%
121,488
14%
166,761
13%
275,849
16%
Amortization of acquired intangible assets
1,394
0%
3,201
0%
2,419
0%
1,326
0%
2,629
0%
Acquisition related expenses
2,696
1%
909
0%
1,832
0%
2,087
0%
(305)
0%
Gain on termination of operating leases
0%
0%
0%
(4,276)
0%
0%
Loss on disposal of fixed assets
0%
0%
0%
6,468
0%
0%
Non-GAAP loss from operations
32,093
6%
54.873
8%
74.911
8%
117,567
9%
169,072
10%
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