HubSpot Q3'23 Financial Results
GAAP to Non-GAAP Reconciliations
2020
$ '000s
Revenues
Cost of Revenue
Subscription
Stock-based compensation
130,685
15%
(4,408)
0%
Amortization of acquired intangibles
(2,340)
0%
Gain on termination of operating leases
0%
Loss on disposal of fixed assets
0%
Non-GAAP subscription
Professional services and other
123.937
14%
36,274
4%
Stock-based compensation
(2,536)
0%
Gain on termination of operating leases
0%
Loss on disposal of fixed assets
0%
Non-GAAP professional services and other
33,738
4%
Gross Margin
Gross margin
716,067
81%
Stock-based compensation
6,944
1%
Amortization of acquired intangible assets
2,340
0%
Gain on termination of operating leases
0%
Loss on disposal of fixed assets
0%
Non-GAAP gross margin
Operating Expenses
725,351
82%
Research and development
205,589
23%
301,970
Stock-based compensation
(39,366)
-4%
(61,614)
Acquisition/disposition related income
(1,287)
0%
(1,152)
Gain on termination operating leases
0%
Loss on disposal of fixed assets
0%
(2,036)
Non-GAAP research and development
164,936
19%
238,514
Sales and marketing
452,081
51%
649,681
Stock-based compensation
(50,552)
-6%
(67,413)
Amortization of acquired intangible assets
(79)
0%
Acquisition related expenses
0%
Gain on termination of operating leases
0%
Loss on disposal of fixed assets
0%
Non-GAAP sales and marketing
401,450
45%
General and administrative
109,225
12%
Stock-based compensation
(24,626)
-3%
Acquisition related expenses
(545)
0%
Gain on termination of operating leases
0%
Loss on disposal of fixed assets
0%
Non-GAAP general and administrative
84,054
10%
115,821
Restructuring charges
0%
Loss from Operations
Loss from operations
(50,828)
-6%
(54,799)
Stock-based compensation
121,488
14%
166,761
Amortization of acquired intangible assets
2,419
0%
1,326
Acquisition related expenses
1,832
0%
2,087
Gain on termination of operating leases
0%
(4,276)
Loss on disposal of fixed assets
0%
6.468
Restructuring charges
Non-GAAP loss from operations
0%
74,911
8%
117.567
**********
1,041,801
1,416,710
82%
419,574
84%
441,852
13,469
1%
3,832
1%
4,975
1,203
0%
399
0%
405
0%
0%
0%
0%
1,052,197
81%
1,431,382
83%
423,805
84%
447,232
442,022
26%
(107,517)
-6%
300
0%
0%
0%
334.805
19%
886,069
51%
(107,640)
-6%
(1,426)
0%
0%
0%
0%
777,003
45%
197,720
11%
(47,223)
-3%
0%
0%
0%
0%
150,497
9%
0%
0%
(2,781)
580,570
144,949
(28,345)
གྲྭཛིཛྫཱ eཟུང། ནད། །
% of
$ '000s
2021
211,132
(6,297)
Revenues
2022
March 31, 2023
% of
$ '000s
% of
Revenues
$ '000s
% of
Revenues
Three Months Ended
June 30, 2023
% of
Three Months Ended
September 30,
$ *000s
Revenues
$ '000s
% of
Revenues
257,513
15%
(9,076)
-1%
68,339
(2,745)
14%
-1%
73,824
(3,516)
14%
73,781
13%
-1%
(3,157)
-1%
(1,203)
0%
(399)
0%
(405)
0%
(408)
0%
0%
0%
0%
0%
0%
0%
0%
0%
203,693
247,234
14%
65,195
13%
69,903
13%
70,216
13%
47,725
56,746
3%
13,707
3%
13,462
3%
13,745
2%
(3,092)
(4,393)
0%
(1,087)
0%
(1,459)
0%
(1,201)
0%
0%
0%
0%
0%
0%
0%
0%
0%
44,908
52,353
3%
12,620
3%
12,003
2%
12,544
2%
Three Months Ended
127,683
25%
169,955
(33,324)
-7%
(64,060)
0%
0%
0%
94,359
19%
105,895
250,683
50%
265,294
(30,169)
-6%
(38,625)
(446)
0%
(446)
0%
0%
0%
220,068
226,223
44%
57,405
11%
61,222
(15,712)
-3%
(20,343)
0%
0%
0%
40,879
41,693
8%
63,880
28,570
6%
(109,101)
-6%
(44,767)
-9%
(118,499)
128,003
275,849
16%
83,037
17%
851
2,629
0%
845
0%
(305)
0%
0%
0%
0%
0%
0%
63,880
0%
28,570
6%
*************************
470,031
84%
4,358
1%
408
0%
0%
0%
474,797
85%
156,871
28%
(49,460)
-9%
0%
0%
0%
107,411
19%
271,448
49%
(34,439)
-6%
(1,903)
0%
0%
0%
0%
235,106
42%
61,308
11%
(19,249)
-3%
0%
0%
0%
42,059
8%
846
0%
(20,442)
-4%
107,506
19%
2,311
0%
0%
0%
0%
846
0%
74,235
90,221
16%
169,072
10%
67.685
13%
25View entire presentation