HUBS financial statements

The full income statement, balance sheet, and cash-flow statement for HubSpot Inc. (HUBS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 51.3M2024-09 51.6M2024-12 52.2M2025-03 52.7M2025-06 52.7M2025-09 52.4M2025-12 52.7M2026-03 51.2M2026-06 49.9M-2.9% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	3.13B YoY+19.2%	2.63B YoY+21.1%	2.17B YoY+25.4%	1.73B YoY+33.1%	1.30B YoY+47.3%
	2.62B YoY+17.4%	2.23B YoY+22.0%	1.83B YoY+28.7%	1.42B YoY+36.6%	1.04B YoY+45.5%
Cost of revenue	508M YoY+29.3%	393M YoY+16.2%	338M YoY+9.9%	308M YoY+19.0%	259M YoY+55.0%
	2.62B YoY+13.6%	2.30B YoY+13.2%	2.03B YoY+33.2%	1.53B YoY+39.1%	1.10B YoY+43.0%
Research & development	906M YoY+16.3%	779M YoY+26.1%	618M YoY+39.8%	442M YoY+46.4%	302M YoY+46.9%
Selling, general & administrative	326M YoY+8.6%	300M YoY+20.3%	250M YoY+26.3%	198M YoY+36.4%	145M YoY+32.7%
General & administrative	326M YoY+8.6%	300M YoY+20.3%	250M YoY+26.3%	198M YoY+36.4%	145M YoY+32.7%
Selling & marketing	1.38B YoY+13.2%	1.22B YoY+14.1%	1.07B YoY+20.6%	886M YoY+36.4%	650M YoY+43.7%
Restructuring	4.04M YoY+1.2%	3.99M YoY-95.9%	96.8M	—	—
Amortization of intangibles	12.1M YoY+26.0%	9.60M YoY+81.1%	5.30M YoY+103.8%	2.60M YoY+100.0%	1.30M YoY-50.0%
Provision for credit losses	24.9M YoY+25.6%	19.9M YoY+5.2%	18.9M YoY+63.5%	11.5M YoY+88.0%	6.14M YoY-27.7%
Operating income	7.38M YoY+110.9%	-67.6M YoY+66.4%	-201M YoY-95.3%	-103M YoY-87.7%	-54.8M YoY-7.8%
Interest expense	876K YoY-76.5%	3.72M YoY-2.1%	3.80M YoY+1.0%	3.76M YoY-87.6%	30.3M YoY-18.3%
Interest & investment income	66.2M YoY-19.9%	82.7M YoY+40.6%	58.8M YoY+292.2%	15.0M YoY+1178.8%	1.17M YoY-84.9%
Other non-operating income	-3.26M YoY-118.8%	17.3M YoY+470.1%	-4.67M YoY+31.6%	-6.83M YoY-167.7%	10.1M YoY+1519.1%
Pre-tax income	69.5M YoY+142.2%	28.7M YoY+119.0%	-151M YoY-52.9%	-98.5M YoY-33.4%	-73.8M YoY+8.7%
Income tax	23.6M YoY-2.1%	24.0M YoY+72.6%	13.9M YoY+56.7%	8.89M YoY+121.3%	4.02M YoY-4.7%
Net income	45.9M YoY+892.0%	4.63M YoY+102.8%	-165M YoY-53.3%	-107M YoY-37.9%	-77.8M YoY+8.5%
	$0.86 YoY+855.6%	$0.09 YoY+102.7%	-$3.30 YoY-48.0%	-$2.23 YoY-34.3%	-$1.66 YoY+12.6%
EPS (basic)	$0.88 YoY+877.8%	$0.09 YoY+102.7%	-$3.30 YoY-48.0%	-$2.23 YoY-34.3%	-$1.66 YoY+12.6%
	52.5M YoY+2.5%	51.2M YoY+2.6%	49.9M YoY+3.8%	48.1M YoY+2.5%	46.9M YoY+4.8%
	53.2M YoY+2.7%	51.8M YoY+3.9%	49.9M YoY+3.8%	48.1M YoY+2.5%	46.9M YoY+4.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.45B YoY-7.0%	2.63B YoY+40.7%	1.87B YoY+6.7%	1.75B YoY+20.7%	1.45B YoY-0.2%
Cash & equivalents	882M YoY+72.1%	513M YoY+32.1%	388M YoY+17.2%	331M YoY-12.2%	377M YoY-0.3%
Accounts receivable	419M YoY+25.2%	335M YoY+13.4%	295M YoY+30.2%	227M YoY+44.2%	157M YoY+24.5%
Prepaid expenses	101M YoY+24.8%	80.6M YoY-9.1%	88.7M YoY+101.2%	44.1M YoY+14.8%	38.4M YoY+10.6%
	3.85B YoY+1.5%	3.80B YoY+23.6%	3.07B YoY+20.7%	2.54B YoY+17.0%	2.17B YoY+10.2%
Property, plant & equipment	142M YoY+24.3%	114M YoY+10.5%	103M YoY-1.8%	105M YoY+9.5%	96.1M YoY-4.9%
Operating lease right-of-use	201M YoY-7.1%	216M YoY-13.9%	251M YoY-21.4%	319M YoY+13.7%	281M YoY+1.8%
Goodwill	291M YoY+39.1%	210M YoY+20.6%	174M YoY+275.9%	46.2M YoY-1.8%	47.1M YoY+50.3%
Intangible assets	35.2M YoY-6.2%	37.6M YoY-11.2%	42.3M YoY+142.6%	17.4M YoY+65.1%	10.6M YoY+2.8%
Other non-current assets	166M YoY+43.7%	115M YoY+53.2%	75.2M YoY+28.0%	58.8M YoY+101.0%	29.2M YoY+110.5%
	1.47B YoY-6.7%	1.57B YoY+67.0%	942M YoY+24.8%	755M YoY+22.2%	617M YoY+38.6%
Accounts payable	24.8M YoY+578.7%	3.65M YoY-59.9%	9.11M YoY-56.4%	20.9M YoY+653.1%	2.77M YoY-79.5%
Deferred revenue	1.00B YoY+28.1%	784M YoY+16.7%	672M YoY+24.5%	540M YoY+25.4%	430M YoY+37.6%
Current lease liability	39.7M YoY+21.4%	32.7M YoY-6.7%	35.0M YoY-2.5%	35.9M YoY+36.3%	26.4M YoY-12.2%
	1.79B YoY-5.3%	1.89B YoY+8.7%	1.74B YoY+12.1%	1.55B YoY+19.1%	1.30B YoY+7.5%
Deferred revenue (non-current)	8.49M YoY+114.0%	3.97M YoY-31.7%	5.81M YoY-1.6%	5.90M YoY+32.0%	4.47M YoY+23.0%
Non-current lease liability	223M YoY-12.5%	255M YoY-14.2%	297M YoY-6.2%	316M YoY+11.4%	284M YoY+1.5%
Operating lease liability (total)	262M YoY-8.7%	287M YoY-13.4%	332M YoY-5.8%	352M YoY+13.5%	310M YoY+0.2%
Other non-current liabilities	89.3M YoY+60.6%	55.6M YoY+52.6%	36.5M YoY+89.9%	19.2M YoY+58.3%	12.1M YoY+12.2%
	2.07B YoY+8.3%	1.91B YoY+43.0%	1.33B YoY+34.1%	995M YoY+14.2%	871M YoY+14.2%
Common stock	53.0K YoY+1.9%	52.0K YoY+4.0%	50.0K YoY+2.0%	49.0K YoY+4.3%	47.0K YoY+2.2%
Additional paid-in capital	2.81B YoY+3.7%	2.71B YoY+27.0%	2.14B YoY+29.7%	1.65B YoY+14.7%	1.44B YoY+15.7%
Retained earnings	-754M YoY+5.7%	-800M YoY+0.6%	-804M YoY-25.7%	-640M YoY-14.1%	-561M YoY-16.1%
Treasury stock	2.00K	—	—	—	—
Accumulated other comprehensive income	5.24M YoY+192.7%	-5.65M YoY-409.5%	1.83M YoY+114.2%	-12.9M YoY-862.7%	-1.34M YoY-129.1%
Total liabilities & equity	3.85B YoY+1.5%	3.80B YoY+23.6%	3.07B YoY+20.7%	2.54B YoY+17.0%	2.17B YoY+10.2%
	54.8M YoY+4.1%	52.7M YoY+2.5%	51.4M YoY+2.5%	50.1M YoY+3.8%	48.3M YoY+4.7%
	52.6M YoY+1.5%	51.8M YoY+2.6%	50.4M YoY+2.5%	49.2M YoY+3.9%	47.4M YoY+2.8%
	52.7M YoY+1.1%	52.2M YoY+2.9%	50.7M YoY+2.6%	49.4M YoY+3.8%	47.6M YoY+2.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	761M YoY+27.1%	599M YoY+70.6%	351M YoY+28.5%	273M YoY+14.4%	239M YoY+168.5%
Depreciation & amortization	136M YoY+40.8%	96.8M YoY+33.2%	72.7M YoY+25.0%	58.1M YoY+28.8%	45.2M YoY+21.9%
Intangible amortization	12.1M YoY+26.0%	9.60M YoY+81.1%	5.30M YoY+103.8%	2.60M YoY+100.0%	1.30M YoY-50.0%
Share-based compensation	528M YoY+4.6%	505M YoY+16.8%	432M YoY+56.7%	276M YoY+65.4%	167M YoY+37.3%
Deferred income taxes	-2.00K YoY-100.1%	2.69M YoY+389.1%	550K YoY+142.8%	-1.28M YoY+55.2%	-2.87M YoY-31.3%
Change in receivables	64.0M YoY+32.2%	48.4M YoY-15.9%	57.6M YoY-22.1%	74.0M YoY+116.9%	34.1M YoY+13.8%
Change in payables	19.0M YoY+515.1%	-4.58M YoY+67.4%	-14.0M YoY-176.8%	18.3M YoY+272.3%	-10.6M YoY-386.9%
	492M YoY+195.3%	-516M YoY-54.1%	-335M YoY-4.7%	-320M YoY-78.1%	-180M YoY+16.7%
Capital expenditure	53.2M YoY+40.1%	37.9M YoY+12.5%	33.7M YoY-9.9%	37.4M YoY+30.3%	28.7M YoY-22.9%
Free cash flow	708M YoY+26.2%	561M YoY+76.7%	317M YoY+34.6%	236M YoY+12.3%	210M YoY+306.7%
Acquisitions	87.6M YoY+116.6%	40.4M YoY-71.5%	142M	0.00 YoY-100.0%	16.8M
Sales/maturities of investments	2.24B YoY+34.9%	1.66B YoY+10.4%	1.50B YoY+26.8%	1.18B YoY-14.6%	1.39B YoY+2.6%
	-910M YoY-1801.1%	53.5M YoY+44.5%	37.0M YoY+398.3%	7.43M YoY+114.4%	-51.5M YoY-123.1%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Long-term debt repaid	460M YoY+806586.0%	57.0K YoY+338.5%	13.0K YoY-99.2%	1.62M	0.00 YoY-100.0%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	500M	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Net change in cash	368M YoY+195.3%	125M YoY+115.5%	57.9M YoY+226.2%	-45.9M YoY-4032.2%	-1.11M YoY-101.1%
Interest paid	422K YoY-75.5%	1.72M YoY-0.1%	1.72M YoY-1.4%	1.75M YoY-5.3%	1.84M YoY+21.9%
Income taxes paid	19.3M YoY+58.5%	12.2M YoY-5.6%	12.9M YoY+175.6%	4.68M YoY-32.8%	6.97M YoY+202.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	21.2B YoY-41.8%	36.3B YoY+24.4%	29.2B YoY+108.0%	14.0B YoY-55.2%	31.4B YoY+70.7%
P/E	461.0× YoY-94.1%	7851.9×	—	—	—
P/S	6.8× YoY-51.1%	13.8× YoY-2.6%	14.2× YoY+64.8%	8.6× YoY-64.3%	24.1× YoY+15.9%
P/B	10.2× YoY-46.2%	19.0× YoY-21.8%	24.4× YoY+57.3%	15.5× YoY-57.0%	36.0× YoY+49.5%
P/FCF	29.9× YoY-53.8%	64.8× YoY-32.2%	95.6× YoY+60.5%	59.6× YoY-60.1%	149.3× YoY-58.0%
	0.22% YoY+1603.3%	0.01%	—	—	—
	3.3% YoY+116.7%	1.5% YoY+47.5%	1.0% YoY-37.7%	1.7% YoY+150.6%	0.67% YoY+138.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: HUBS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HUBS filings on SEC EDGAR → Not investment advice.