Hubspot Investor Day Presentation Deck
Long term financial targets remain unchanged
2026 Target
Model
84%
Gross Margin
R&D
% of revenue
S&M
% of revenue
G&A
% of revenue
Operating
Margin
2019
82%
18%
45%
11%
8%
2023¹
85%
20%
43%
8%
14%
20%
36% - 38%
8%
18% - 20%
Key
Variables
+Infrastructure optimization
+Services & support leverage
-Reliability, speed, security
-Commerce
Invest in R&D to fuel growth
Digital and AI-enabled GTM
Workforce planning
Systems and Automation
¹ Long-Term Target Model: These estimates reflect our current operating plan as of September 6, 2023 and are subject to change as future events and opportunities arise. 2023 represents the current
midpoint of HubSpot's full year 2023 guidance. All percentages are non-GAAP and exclude expenses associated with stock-based compensation, amortization of acquired intangibles and acquisition
related expenses. Percentages are based on actual values. Totals may not sum due to rounding. Please refer to appendix for a reconciliation of GAAP to non-GAAP figures.View entire presentation