HubSpot Growth and Financial Targets
GAAP to Non-GAAP Reconciliation
2018
2019
2020
2021
$'000s
% of Revenues
$'000s
% of Revenues
$'000s
% of
Revenues
$ '000s
% of Revenues
Cost of Revenue
Subscription
Stock-based compensation
Amortization of acquired intangibles
Gain on termination of operating leases
69,718
1496
98,510
15%
(1,476)
0%
(3,127)
0%
130,685
(4,408)
15%
0%
211,132
(6,297)
(1,394)
0%
(3,201)
09
(2,340)
096
0%
Loss on disposal of fixed assets
0%
09
Non-GAAP subscription
66,848
13%
92,182
14%
123,937
14%
Professional services and other
30,639
6%
31,448
5%
36,274
Stock-based compensation
(2,924)
-196
(2,829)
096
(2,536)
Gain on termination of operating leases
096
0%
Loss on disposal of fixed assets
096
0%
Non-GAAP professional services and other
27,715
596
28,619
4%
33,738
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09
(937)
395
(600)
203,693
16%
47,725
(3,092)
275
(415)
44.908
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Gross Margin
Gross margin
412,623
80%
544,902
81%
Stock-based compensation
4,400
196
5,956
196
716,067
6,944
8196
1,041,801
80%
196
Amortization of acquired intangible assets
1,394
096
3,201
09
2,340
0%
9,389
662
196
096
Gain on termination of operating leases
096
0%
09
Loss on disposal of fixed assets
0%
096
0%
418,417
82%
554,059
82%
725,351
82%
1,051,852
81%
Non-GAAP gross margin
Operating Expenses
Research and development
117,603
239
158,237
23%
205,589
239
Stock-based compensation
(23,328)
-5%
(33,748)
-5%
(39,366)
-4%
Acquisition related expenses
(2,696)
-1%
(357)
09
(1,287)
0%
Gain on termination of operating leases
096
096
0%
301,970
(61,614)
(1,152)
1,346
239
Loss on disposal of fixed assets
0%
0%
0%
Non-GAAP research and development
91,579
18%
124,132
18%
164,936
19%
(2,036)
238,514
18%
Sales and marketing
267,444
529
340,685
50%
452,081
51%
649,681
Stock-based compensation
(31,099)
-69
(36,599)
-5%
(50,552)
-6%
(67,413)
Amortization of acquired intangible assets
0%
0%
(79)
0%
(389)
Acquisition related expenses
096
0%
0%
(367)
Gain on termination of operating leases
096
096
1,839
Loss on disposal of fixed assets
Non-GAAP sales and marketing
096
0%
(2,781)
236,345
46%
304,086
45%
401,450
45%
580,570
45%
General and administrative
75,834
15%
92,971
14%
109,225
12%
144,949
11%
Stock-based compensation
(17,434)
-39
(21,451)
-3%
(24,626)
-3%
(28,345)
Acquisition related expenses
0%
(552)
0%
(545)
0%
(568)
Gain on termination of operating leases
09
09
0%
Loss on disposal of fixed assets
096
096
0%
Non-GAAP general and administrative
58,400
11%
70,968
11%
84,054
10%
421
(636)
115,821
*****
-5%
0%
0%
096
50%
-5%
-296
996
Loss from Operations
Loss from operations
(48,258)
-9%
(46,991)
-79
(50,828)
-696
(54,799)
-496
Stock-based compensation
76,261
15%
97,754
14%
Amortization of acquired intangible assets
1,394
0%
3,201
0%
121,488
2,419
1496
Acquisition related expenses
2,696
1%
909
0%
1,832
Gain on termination of operating leases
09
09
Loss on disposal of fixed assets
096
0%
Non-GAAP loss from operations
32,093
696
54,873
896
74,911
88888
0%
166,761
1,326
13%
0%
096
2,087
0%
096
(4,276)
0%
४
096
6,468
096
25
896
117,567
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