Increasing Free Cash Flow Generation

Long Term Financial Targets 2020 2021 2022 Q1 2023 Long Term Target 1 Gross Margin 82% 81% 83% 84% 81% - 83% R&D 19% 18% 19% 19% 18% - 20% % of revenue S&M % of revenue 45% 45% 45% 44% 30% - 35% G&A % of revenue 10% 9% 9% 8% 8% -9% Operating Margin 8% 9% 10% 13% 20%-25% 1 These estimates reflect our current operating plan as of 5/3/2023 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 intangible assets and acquisition related expenses. Please refer to the end of this presentation for a reconciliation of GAAP to non-GAAP figures. HubSpot 21

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