Hubspot Investor Day Presentation Deck

Gross Margin R&D % of revenue S&M % of revenue G&A % of revenue Operating Margin Long Term Financial Target 2016 78% 14% 55% 14% -4% 2017 81% 15% 52% 12% 2% 2018 82% 18% 46% 11% 6% 2019 82% 18% 45% 11% 8% 1H'20 82% 19% 45% 10% 8% UPDATED Long Term Target Model 81% - 83% 18% -20% 30% -35% 8% -9% 20%-25% Long Term Target Model: These estimates reflect our current operating plan as of 9/22/2020 and are subject to change as future events and opportunities arise. All percentages are non-GAAP and exclude expenses associated with stock based compensation, amortization of acquired intangibles and acquisition related expenses. Please refer to appendix for a reconciliation of GAAP to non-GAAP figures. za

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