HubSpot's Journey
Long Term Financial Target
2016
2017
2018
2019
2020
2021
Long Term
Target
Gross Margin
78%
81%
82%
82%
82%
81%
81% - 83%
R&D
14%
15%
18%
18%
19%
18%
18% - 20%
% of revenue
S&M
55%
52%
46%
45%
45%
45%
30%-35%
% of revenue
G&A
14%
12%
11%
11%
10%
9%
8% -9%
% of revenue
Operating Margin
-4%
2%
6%
8%
8%
9%
20%-25%
Note: These estimates reflect our current operating plan as of 2/10/2022 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.
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