hubspot-financials

Hubspot Financials

Hubspot generated $1.73 billion in revenue and reported a net loss of $112 million in 2022, compared to $1.3 billion in revenue and it reported $77 million as a net loss in 2021.

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Hubspot Revenue

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Hubspot generated $1.73 billion in revenue in 2022, compared to $1.3 billion in revenue in 2021 and $883 million in 2020. In 2022, over 97% of Hubspot’s revenue came from subscriptions, which generated $1.69 billion in revenue.

Hubspot Net Losses

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Hubspot generated reported a net loss of $112 million in 2022, compared to a net loss of $77 million in 2021, and a net loss of $85 million in 2020.

Hubspot Revenue Breakdown

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Hubspot generates most of its revenue from subscriptions. Indeed, in 2022 over 97% of its revenue came from subscriptions. In 2022, Hubspot generated $1.69 billion in revenue from subscriptions vs. $40 million from professional services. In 2021, Hubspot generated over $1.25 billion in revenue from subscriptions vs. $42 million from professional services. And in 2020, Hubspot generated $853 million in subscriptions and $30 million from professional services.

Hubspot Subscription Business

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The subscription revenue cost structure is quite effective. In 2022 on a $1.69 billion in subscription revenue, the company reported $257 million in cost of revenue (expenses related to delivering the service and providing support, including the costs of data center capacity), thus generating a $1.43 billion in gross profits, in 2022.

Hubspot Professional Services

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The professional service business is run to sustain the subscription business. Indeed, in 2022 on $40.4 million in subscription revenue, the company reported over $56 million in cost of revenue (expenses related to delivering the service and providing support, including the costs of data center capacity), thus generating a gross loss of over $16 million, in 2022.

Hubspot Employees

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Hubspot had 7,433 employees in 2022, compared to 5,895 in 2021 and 4,225 in 2020. The company has grown from 2,638 employees in 2018 to 7,433 in 2022.

Hubspot Revenue Per Employee

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Hubspot generated over $232K per employee in 2022, compared to over $220K in 2021 and $209K in 2020. Hubspot’s revenue per employee grew from over $194K in 2018 to $232K by 2022.

Hubspot Customers

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Hubspot had over 167K customers in 2022, compared to over 135K customers in 2021 and nearly 104K customers in 2020. The company grew from over 56K customers in 2018, to over 167K customers by 2022.

Hubspot Revenue Per Customer

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Hubspot generated an average of over $11K of subscription revenue per customer in 2022, compared to over $10K in 2021 and over $9.5K in 2020.

Hubspot Sales & Marketing vs. R&D

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In 2022, Hubspot spent 51% of its revenues in sales and marketing efforts, and 26% in R&D efforts, compared to 50% in sales and marketing efforts and 23% in R&D efforts in 2021.

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