HubSpot's Financial Growth and Customer Acquisition Strategy
GAAP to Non-GAAP Reconciliation
2018
2019
Three Months Ended
March 31, 2021
$'000s
% of Revenues
$'000s
% of Revenues
Cost of Revenue
Subscription
Stock-based compensation
Amortization of acquired intangibles
Acquisition related expenses
Non-GAAP subscription
Professional services and other
69,718
14%
98,510
(1,476)
09
(3,127)
(1,394)
096
(3,201)
0%
66,848
139
92,182
30,639
696
31,448
Stock-based compensation
(2,924)
-196
(2,829)
Amortization of acquired intangibles
096
Acquisition related expenses
0%
Non-GAAP professional services and other
27,715
5%
28,619
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2020
$'000s
% of
Revenues
% of
$'000s
Revenues
130,685
(4,408)
15%
43,853
16%
09
(1,310)
0%
(2,340)
096
(239)
0%
096
09
123,937
1496
42,304
15%
36,274
4%
10,881
4%
(2,536)
09
(697)
0%
096
0%
09
0%
33,738
49
10,184
4%
Gross Margin
Gross margin
412,623
Stock-based compensation
4,400
Amortization of acquired intangible assets
1,394
Acquisition related expenses
Non-GAAP gross margin
418,417
Operating Expenses
Research and development
117,603
Stock-based compensation
(23,328)
Amortization of acquired intangible assets
Acquisition related expenses
(2,696)
Non-GAAP research and development
91,579
Sales and marketing
Stock-based compensation
267,444
(31,099)
Amortization of acquired intangible assets
Acquisition related expenses
Non-GAAP sales and marketing
236,345
General and administrative
75,834
Stock-based compensation
(17,434)
Amortization of acquired intangible assets
Acquisition related expenses
Non-GAAP general and administrative
58,400
Loss from Operations
Loss from operations
(48,258)
Stock-based compensation
76,261
Amortization of acquired intangible assets
1,394
Acquisition related expenses
2,696
Non-GAAP loss from operations
32,093
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544,902
81%
716,067
81%
226,631
81%
5,956
6,944
196
2,007
196
3,201
2,340
09
239
0%
096
0%
554,059
82%
725,351
82%
228,877
81%
158,237
23%
205,589
239
68,396
24%
-596
(33,748)
-5%
(39,366)
-496
(11,484)
-4%
0%
0%
0%
(357)
(1,287)
0%
(344)
0%
124,132
18%
164,936
19%
56,568
20%
340,685
50%
452,081
51%
141,017
50%
(36,599)
-59
(50,552)
-6%
(13,629)
-5%
(79)
09
(106)
0%
0%
09
(367)
0%
304,086
45%
401,450
45%
126,915
45%
92,971
14%
109,225
12%
32,250
11%
(21,451)
-39
(24,626)
-39
(5,303)
-29
096
0%
(552)
096
(545)
0%
(484)
0%
70,968
11%
84,054
10%
26,463
996
(46,991)
97,754
-79
(50,828)
-6%
14%
121,488
1496
(15,032)
32,423
-5%
129
3,201
0%
2,419
096
345
909
0%
1,832
09
1,195
54,873
8%
74,911
896
18,931
79
**
0%
0%
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