Hubspot reports Q3 2026 results

On November 4, 2026, HubSpot, Inc. (the "Company") issued a press release announcing its financial results and other information for the quarter ended September 30, 2026.¹ The full text of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.²

The information under this Item 2.02, including Exhibit 99.1 attached hereto, is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended² (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such filing.

(d)

Exhibits

Exhibit

No.

Description

99.1³

Press Release of HubSpot, Inc. announcing financial results for the quarter ended September 30, 2026, dated November 4, 2026, furnished herewith³

104³

Cover Page Interactive Data File (embedded within the Inline XBRL document)³

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

HubSpot, Inc.

November 4, 2026

By:

/s/ Kate Bueker⁴

Name: Kate Bueker

Title: Chief Financial Officer⁴

CAMBRIDGE, MA (November 4, 2026) — HubSpot, Inc. (NYSE: HUBS), the agentic customer platform for scaling businesses, announced today its financial results for the third quarter ended September 30, 2026.

Financial Highlights*

Revenue

● Total revenue was $947.6 million, up 17% on an as-reported basis and in constant currency.⁵

o Subscription revenue was $930.2 million, up 18% on an as-reported basis.⁶

o Professional services and other revenue was $17.3 million, down 3% on an as-reported basis.⁶

Operating Income (Loss)

● GAAP operating income was $71.9 million, compared to $11.2 million.⁷

● Non-GAAP operating income was $214.2 million, up 33%.

● GAAP operating margin was 7.6%, compared to 1.4%.

● Non-GAAP operating margin was 22.6%, compared to 19.9%.

Net Income (Loss)

● GAAP net income was $83.0 million, or $1.68 per basic and $1.67 per diluted share, compared to $16.5 million, or $0.31 per basic and diluted share.⁸

● Non-GAAP net income was $188.9 million, or $3.82 per basic and $3.81 per diluted share, compared to $140.3 million, or $2.67 per basic and $2.66 per diluted share, up 35%, 43% and 43%, respectively.

● Weighted average basic and diluted shares outstanding used for GAAP and non-GAAP net income per share were 49.5 million, compared to 52.5 million and 52.7 million, respectively.

Balance Sheet and Cash Flow

● HubSpot's cash and cash equivalents, short-term, and long-term investments balance was $1.3 billion as of September 30, 2026.

● During the third quarter, HubSpot repurchased $237.2 million of its common stock.⁹

● During the third quarter, HubSpot generated $238.0 million in operating cash flow, compared with $187.4 million.⁹

● During the third quarter, HubSpot generated $242.7 million of cash from non-GAAP operating cash flow and $188.0 million of non-GAAP free cash flow, compared to $191.8 million of cash from non-GAAP operating cash flow and $146.9 million of non-GAAP free cash flow.

Additional Recent Business Highlights

● Grew Customers to 311,704 as of September 30, 2026, up 12%.

● Average Subscription Revenue Per Customer was $12,038 during the third quarter of 2026, up 4% on an as-reported basis.

● Calculated billings were $924.9 million in the third quarter of 2026, up 15% on an as-reported basis and in constant currency.

"We are still in the early stages of a massive shift with AI, and we're transforming HubSpot to lead in the Outcomes Era," said Yamini Rangan, Chief Executive Officer at HubSpot. "AI is fundamentally changing software, from tools that help

Page | 1

people do work to agents that do the work and deliver outcomes. We're transforming our product, pricing, go-to-market, and how we operate to capture this opportunity, and we made meaningful progress across these areas this quarter."

* All comparisons are to the comparable prior-year period, unless otherwise noted.

Business Outlook

Based on information available as of November 4, 2026, HubSpot is issuing guidance for the fourth quarter and full year of 2026 as indicated below.

Fourth Quarter 2026:

• Total revenue is expected to be in the range of $945.0 million to $947.0 million, up 12% year over year on an as-reported basis and in constant currency.¹⁰

• Non-GAAP operating income is expected to be in the range of $216.0 million to $217.0 million, representing a 23% operating income margin.

• Non-GAAP net income per common share is expected to be in the range of $3.85 to $3.87. This assumes approximately 48.9 million weighted average diluted shares outstanding.

Full Year 2026:

• Total revenue is expected to be in the range of $3.685 billion to $3.687 billion, up 18% year over year on an as-reported basis and 16% in constant currency.¹¹

• Non-GAAP operating income is expected to be in the range of $772.0 million to $773.0 million, representing a 21% operating income margin.

• Non-GAAP net income per common share is expected to be in the range of $13.59 to $13.61. This assumes approximately 50.4 million weighted average diluted shares outstanding.

For Use of Non-GAAP Financial Measures

In our earnings press releases, conference calls, slide presentations, and webcasts, we may use or discuss non-GAAP financial measures, as defined by Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release after the consolidated financial statements. Our earnings press releases containing such non-GAAP reconciliations can be found in the Investors section of our website ir.hubspot.com .

Conference Call Information

HubSpot will host a conference call on Wednesday, November 4, 2026 at 4:30 p.m. Eastern Time (ET) to discuss its third quarter 2026 financial results and its business outlook. To register for this conference call, please use this registration link or visit HubSpot's Investor Relations website at ir.hubspot.com .

An archived webcast of this conference call will also be available on HubSpot's Investor Relations website at ir.hubspot.com .

HubSpot has used, and intends to continue to use, the investor relations portion of its website and/or its social