NYSE$HUBS
HubSpot · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
HubSpot's Q1 2023 earnings were announced, demonstrating substantial revenue growth and customer base expansion.
HubSpot reported a strong Q1 2023 with total revenue reaching $501.6 million, a 27% increase compared to Q1 2022. The company grew its customer base to 177,298, and average subscription revenue per customer was $11,365. While GAAP operating loss was $44.8 million, non-GAAP operating income was $67.7 million. The company is also focusing on leveraging Generative AI to enhance its platform.
- Total revenue increased by 27% year-over-year, reaching $501.6 million.
- Subscription revenue grew by 27% to $489.7 million.
- Customer base expanded to 177,298, a 23% increase from the previous year.
- Non-GAAP operating income was $67.7 million, compared to $35.0 million in Q1 2022.
Headline financials
Revenue & EPS history
HubSpot · Revenue · Quarterly
$502M
Revenue by segment
HubSpot · $502M total across 2 segments · Q1 2023
- Subscription$490M+27.2%97.6%
- Professional Services and Other$11.9M+11.8%2.4%
Forward guidance
HubSpot provided guidance for Q2 2023 and full year 2023. They expect Q2 revenue to be in the range of $503.0 million to $505.0 million and full year revenue to be in the range of $2.080 billion to $2.088 billion.
Tailwinds
- Total revenue is expected to be in the range of $503.0 million to $505.0 million for Q2 2023.
- Non-GAAP operating income is expected to be in the range of $54.0 million to $56.0 million for Q2 2023.
- Non-GAAP net income per common share is expected to be in the range of $0.98 to $1.00 for Q2 2023.
- Total revenue is expected to be in the range of $2.080 billion to $2.088 billion for full year 2023.
- Non-GAAP operating income is expected to be in the range of $275.0 million to $279.0 million for full year 2023.
Headwinds
- Unfavorable foreign exchange rates are expected to be a 1 point headwind to second quarter 2023 revenue growth.
- GAAP operating income range ($145,152)-($147,152) for Q2 2023.
- GAAP net loss range ($144,791)-($147,541) for Q2 2023.
- GAAP operating income range ($283,040)-($286,040) for FY 2023.
- GAAP net loss range ($260,856)-($264,731) for FY 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+2.7%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+3.9%
Avg return
30 days after
61%
28 / 46 earnings
Positive
+20.0%
Q4 2015
Best reaction
-19.4%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -19.4% | -26.6% | -12.9% | |
| Q4 2025 | +9.4% | +18.1% | +26.3% | |
| Q3 2025 | -15.0% | -15.0% | -18.3% | |
| Q1 2025 | -8.7% | +1.5% | -7.7% | |
| Q4 2024 | +4.4% | +2.3% | -22.4% | |
| Q3 2024 | +11.5% | +17.7% | +28.3% | |
| Q2 2024 | +5.8% | +4.3% | +10.3% | |
| Q1 2024 | -4.6% | -2.9% | -3.1% | |
| Q4 2023 | +0.8% | +1.6% | -0.5% | |
| Q3 2023 | -5.2% | -1.4% | +14.6% | |
| Q2 2023 | -15.0% | -14.3% | -4.3% | |
| Q1 2023 | +8.3% | +7.3% | +26.4% | |
| Q4 2022 | +10.1% | +5.0% | +8.2% | |
| Q3 2022 | -4.0% | -10.3% | +4.7% | |
| Q2 2022 | +6.5% | +4.1% | -9.9% | |
| Q1 2022 | -9.1% | -17.1% | -9.7% | |
| Q4 2021 | +4.2% | +6.3% | -20.6% | |
| Q3 2021 | +4.0% | +3.6% | -5.4% | |
| Q2 2021 | +13.0% | +12.6% | +20.6% | |
| Q1 2021 | -1.5% | -2.5% | -1.7% | |
| Q4 2020 | +18.6% | +24.6% | +13.8% | |
| Q3 2020 | +16.6% | +4.4% | +18.8% | |
| Q2 2020 | +12.7% | +12.6% | +21.1% | |
| Q1 2020 | +10.0% | +7.1% | +23.5% | |
| Q4 2019 | +8.5% | +8.7% | -26.1% | |
| Q3 2019 | -6.0% | -8.4% | -0.5% | |
| Q2 2019 | +13.6% | +16.5% | +19.2% | |
| Q1 2019 | -3.4% | -2.4% | -9.2% | |
| Q4 2018 | +2.5% | -0.9% | +0.4% | |
| Q3 2018 | +2.2% | -4.3% | -4.9% | |
| Q2 2018 | -1.0% | +1.1% | +15.8% | |
| Q1 2018 | -0.5% | -4.0% | +11.1% | |
| Q4 2017 | +6.7% | +9.4% | +20.4% | |
| Q3 2017 | -0.3% | -3.6% | -6.2% | |
| Q2 2017 | -2.1% | -3.9% | -0.7% | |
| Q1 2017 | +7.1% | +5.3% | +10.1% | |
| Q4 2016 | +2.4% | +4.5% | +13.9% | |
| Q3 2016 | -3.2% | +5.5% | +0.4% | |
| Q2 2016 | +6.5% | +8.5% | +7.1% | |
| Q1 2016 | -4.6% | — | — | |
| Q4 2015 | +20.0% | — | — | |
| Q3 2015 | +2.9% | — | — | |
| Q2 2015 | -4.9% | — | — | |
| Q1 2015 | +16.1% | — | — | |
| Q4 2014 | +6.6% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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