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 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.
The subscriptionrevenuecoststructure is quite effective. In 2022 on a $1.69 billion in subscriptionrevenue, 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.
The professional service business is run to sustain the subscriptionbusiness. Indeed, in 2022 on $40.4 million in subscriptionrevenue, 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 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 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.
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.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
