| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 881.00 | 23.4% |
| Total Income | 881.00 | 23.4% |
| Expenditure | 853.05 | 15.0% |
| PBT | 39.29 | 498.1% |
| Net Profit | 32.55 | 249.4% |
| OPM | 3.17% | 7.02pp |
| NPM | 3.69% | 6.75pp |
| EPS | 0.62 | 247.6% |
HubSpot Reports Strong Q1 2026 Results with Revenue Up 23% YoY to $881.0 Million
08 May 2026 · 8 May, 1:52 am
Summary
HubSpot, Inc. reported strong financial results for the first quarter ended March 31, 2026, with total revenue reaching $881.0 million, a 23% increase year-over-year. The company successfully transitioned from a GAAP operating loss of ($27.5) million in Q1 2025 to a GAAP operating income of $27.9 million, achieving a 3.2% operating margin. Non-GAAP operating income also saw substantial growth, climbing to $156.8 million with a robust 17.8% margin. CEO Yamini Rangan highlighted the solid performance in revenue and customer growth, attributing it to scaling companies increasingly adopting HubSpot's agentic customer platform and its AI innovations. The company also provided an optimistic outlook, forecasting full-year 2026 revenue between $3.700 billion and $3.708 billion.
Key Highlights
- 1
HubSpot reported total revenue of $881.0 million for Q1 2026, marking a 23% increase on an as-reported basis and 18% in constant currency compared to Q1 2025.
- 2
The company achieved a GAAP operating income of $27.9 million, a significant improvement from an operating loss of ($27.5) million in the prior year's quarter, with GAAP operating margin reaching 3.2%.
- 3
Non-GAAP operating income rose to $156.8 million, up from $100.3 million in Q1 2025, resulting in a non-GAAP operating margin of 17.8%.
- 4
GAAP net income for the quarter was $32.6 million, or $0.62 per basic and diluted share, reversing a net loss of ($21.8) million, or ($0.42) per share, in Q1 2025.
- 5
HubSpot's customer base expanded by 16% year-over-year to 299,458 as of March 31, 2026, with Average Subscription Revenue Per Customer increasing by 6% to $11,722.
- 6
The company generated $198.8 million in operating cash flow during the first quarter, an increase from $161.6 million in Q1 2025, and repurchased $211.0 million of its common stock.
- 7
For the full year 2026, HubSpot anticipates total revenue between $3.700 billion and $3.708 billion, representing an 18% year-over-year growth on an as-reported basis.
Management Comments
Yamini Rangan
Q1 was a solid quarter of revenue growth, customer growth, and operating margin expansion. Scaling companies are increasingly choosing HubSpot as their agentic customer platform to drive AI innovation and reduce total cost of ownership, and that's reflected in our upmarket momentum and multi-hub adoption. The AI innovations we launched at Spring Spotlight, including Customer Agent, Prospecting Agent, and Data Agent, are delivering outcomes for customers and will strengthen our AI momentum.
Informational and educational content only. Not investment advice.