HubSpot at a Glance
GAAP to Non-GAAP Reconciliations
2020
2022
Cost of Revenue
Subscription
Stock-based compensation
Amortization of acquired intangibles
Gain on termination of operating leases
Loss on disposal of fixed assets
Non-GAAP subscription
Professional services and other
Stock-based compensation
Gain on termination of operating leases
Loss on disposal of fixed assets
Non-GAAP professional services and other
33,738
Gross Margin
Gross margin
716,067
1,041,801
80%
Stock-based compensation
6,944
9,389
1%
Amortization of acquired intangible assets
2,340
662
0%
Gain on termination of operating leases
(670)
0%
Loss on disposal of fixed assets
1,015
0%
Non-GAAP gross margin
725,351
1,052,197
81%
Operating Expenses
Research and development
205,589
301,970
23%
Stock-based compensation
(39,366)
(61,614)
-5%
Acquisition/disposition related income (expenses)
(1,287)
(1,152)
0%
Gain on termination of operating leases
1,346
Loss on disposal of fixed assets
(2,036)
Non-GAAP research and development
164,936
238,514
18%
Sales and marketing
452,081
649,681
50%
Stock-based compensation
(50,552)
(67,413)
-5%
Amortization of acquired intangible assets
(79)
(389)
0%
Acquisition related expenses
(367)
0%
Gain on termination of operating leases
1,839
Loss on disposal of fixed assets
(2,781)
Non-GAAP sales and marketing
401,450
580,570
45%
General and administrative
109,225
144,949
11%
Stock-based compensation
(24,626)
(28,345)
-2%
Acquisition related expenses
(545)
(568)
Amortization of acquired intangible assets
Gain on termination of operating leases
421
Loss on disposal of fixed assets
(636)
Non-GAAP general and administrative
84,054
115,821
9%
Restructuring charges
0%
Loss from Operations
Loss from operations
(50,828)
(54,799)
-4%
2021
2023
$ '000s
% of
Revenues
$ *000s
% of
Revenues
$ '000s
% of
Revenues
$ '000s
% of
Revenues
130,685
211,132
16%
257,513
15%
290,802
13%
(4,408)
(2,340)
123,937
36,274
(2,536)
***********************
(6,297)
0%
(9,076)
-1%
(12,652)
-1%
(937)
0%
(1,203)
0%
(2,123)
0%
395
0%
0%
(600)
0%
0%
203,693
16%
247,234
14%
276,027
13%
47,725
(3,092)
275
(415)
44,908
******
4%
56,746
3%
54,687
3%
0%
(4,393)
0%
(4,958)
0%
0%
0%
0%
0%
0%
3%
52,353
3%
49,729
2%
1,416,710
82%
1,824,741
84%
13,469
1%
17,610
1%
1,203
0%
2,123
0%
0%
0%
0%
0%
1,431,382
83%
1,844,474
85%
442,022
26%
617,745
28%
(107,517)
-6%
(198,953)
-9%
300
0%
(255)
0%
0%
0%
0%
0%
334,805
19%
418,537
19%
886,069
51%
1,068,560
49%
(107,640)
-6%
(140,362)
-6%
(1,426)
0%
(3,153)
0%
0%
0%
0%
0%
0%
0%
777,003
45%
925,045
43%
197,720
11%
249,649
12%
(47,223)
-3%
(75,346)
-3%
0%
(3,651)
0%
(35)
0%
0%
0%
0%
0%
150,497
9%
170,617
8%
0%
96,843
4%
(109,101)
-6%
(208,056)
-10%
Stock-based compensation
121,488
166,761
13%
275,849
16%
432,271
20%
Amortization of acquired intangible assets
2,419
1,326
0%
2,629
0%
5,311
0%
Acquisition related expenses
1,832
2,087
0%
(305)
0%
3,906
0%
Gain on termination of operating leases
(4,276)
0%
0%
0%
Loss on disposal of fixed assets
6,468
0%
0%
0%
Restructuring charges
Non-GAAP loss from operations
0%
0%
96,843
4%
24
74,911
117,567
9%
169,072
10%
330,275
15%View entire presentation