HubSpot's Journey

GAAP to Non-GAAP Reconciliation 2018 2019 2020 2021 $'000s % of Revenues $'000s % of Revenues $'000s % of Revenues $ '000s % of Revenues Cost of Revenue Subscription Stock-based compensation Amortization of acquired intangibles 69,718 1496 98,510 15% (1,476) 0% (3,127) 0% 130,685 (4,408) 15% 0% 211,132 (6,297) (1,394) 0% (3,201) 09 (2,340) Gain on termination of operating leases 096 0% Loss on disposal of fixed assets 0% 09 Non-GAAP subscription 66,848 13% 92,182 14% 123,937 14% Professional services and other 30,639 6% 31,448 5% 36,274 Stock-based compensation (2,924) -196 (2,829) 096 (2,536) Gain on termination of operating leases 096 0% Loss on disposal of fixed assets 096 0% Non-GAAP professional services and other 27,715 596 28,619 4% 33,738 苦苦苦瓷姿诺诺咨姿 09 (937) 395 (600) 203,693 16% 47,725 (3,092) 275 (415) 44.908 虽苦苦苦咨酱姿咨咨咨杰 Gross Margin Gross margin 412,623 80% 544,902 81% Stock-based compensation 4,400 196 5,956 196 716,067 6,944 8196 1,041,801 80% 196 Amortization of acquired intangible assets 1,394 096 3,201 09 2,340 0% 9,389 662 196 096 Gain on termination of operating leases 096 0% 09 Loss on disposal of fixed assets 0% 096 0% 418,417 82% 554,059 82% 725,351 82% 1,051,852 81% Non-GAAP gross margin Operating Expenses Research and development 117,603 239 158,237 23% 205,589 239 Stock-based compensation (23,328) -5% (33,748) -5% (39,366) -4% Acquisition related expenses (2,696) -1% (357) 09 (1,287) 0% Gain on termination of operating leases 096 096 0% 301,970 (61,614) (1,152) 1,346 239 Loss on disposal of fixed assets 0% 0% 0% Non-GAAP research and development 91,579 18% 124,132 18% 164,936 19% (2,036) 238,514 18% Sales and marketing 267,444 529 340,685 50% 452,081 51% 649,681 Stock-based compensation (31,099) -69 (36,599) -5% (50,552) -6% (67,413) Amortization of acquired intangible assets 0% 0% (79) 0% (389) Acquisition related expenses 096 0% 0% (367) Gain on termination of operating leases 096 096 1,839 Loss on disposal of fixed assets Non-GAAP sales and marketing 096 0% (2,781) 236,345 46% 304,086 45% 401,450 45% 580,570 45% General and administrative 75,834 15% 92,971 14% 109,225 12% 144,949 11% Stock-based compensation (17,434) -39 (21,451) -3% (24,626) -3% (28,345) Acquisition related expenses 0% (552) 0% (545) 0% (568) Gain on termination of operating leases 09 09 0% Loss on disposal of fixed assets 096 096 0% Non-GAAP general and administrative 58,400 11% 70,968 11% 84,054 10% 421 (636) 115,821 ***** -5% 0% 0% 096 50% -5% -296 996 Loss from Operations Loss from operations (48,258) -9% (46,991) -79 (50,828) -696 (54,799) -496 Stock-based compensation 76,261 15% 97,754 14% Amortization of acquired intangible assets 1,394 0% 3,201 0% 121,488 2,419 1496 166,761 13% Acquisition related expenses 2,696 1% 909 0% 1,832 Gain on termination of operating leases 09 09 Loss on disposal of fixed assets 096 0% Non-GAAP loss from operations 32,093 696 54,873 896 74,911 88888 0% 1,326 0% 096 2,087 0% 096 (4,276) 0% ४ 096 6,468 096 25 896 117,567 99

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