Hubspot Results Presentation Deck
Long term financial targets
Gross Margin
R&D
% of revenue
S&M
% of revenue
G&A
% of revenue
Operating
Margin
2022
83%
19%
45%
9%
10%
Q1'23 Q2'23
84%
19%
44%
8%
13%
85%
20%
43%
8%
14%
Q3'23
85%
19%
42%
8%
16%
2026
Target Model¹
84%
20%
36% - 38%
8%
18% - 20%
Long Term
Target Model¹
81% - 83%
20%
30% -35%
8%
20% - 25%
¹ These estimates reflect our current operating plan as of November 8, 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 intangibles and acquisition related expenses. Percentages are based on actual values. Totals
may not sum due to rounding. Please refer to appendix for a reconciliation of GAAP to non-GAAP figures.
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