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HubSpot

HUBS Q4 2025 Earnings

Reported Feb 11, 2026 at 4:10 PM ET · SEC Source

Q4 25 EPS

$3.09

BEAT +3.34%

Est. $2.99

Q4 25 Revenue

$846.7M

BEAT +2.00%

Est. $830.2M

vs S&P Since Q4 25

+7.7%

BEATING MARKET

HUBS +13.5% vs S&P +5.8%

Full Year 2025 Results

FY 25 EPS

$9.70

BEAT +1.14%

Est. $9.59

FY 25 Revenue

$3.13B

BEAT +0.53%

Est. $3.11B

Market Reaction

Did HUBS Beat Earnings? Q4 2025 Results

HubSpot closed out fiscal 2025 on a high note, delivering a fourth quarter that beat Wall Street expectations on both the top and bottom lines as accelerating AI adoption and a decisive push upmarket drove stronger-than-anticipated results. The compa… Read more HubSpot closed out fiscal 2025 on a high note, delivering a fourth quarter that beat Wall Street expectations on both the top and bottom lines as accelerating AI adoption and a decisive push upmarket drove stronger-than-anticipated results. The company reported Q4 non-GAAP EPS of $3.09, ahead of the $2.99 consensus estimate by 3.34%, while revenue of $846.75 million exceeded the $830.16 million forecast by 2.00% and grew 20.4% year over year. The standout driver was a meaningful inflection in profitability, with GAAP operating margin swinging to 5.7% from negative 1.5% a year earlier, underscoring how the company's agentic customer platform and AI tools like Breeze are beginning to translate enthusiasm into tangible financial leverage. Customer count climbed 16% to 288,706, and calculated billings surged 27% to $971.40 million, signaling durable forward demand. Shares rose nearly 7% in the aftermath, buoyed by a new $1 billion share repurchase authorization and guidance calling for full-year 2026 revenue of $3.69 to $3.70 billion, representing 18% growth, alongside a 20% non-GAAP operating margin target.

Key Takeaways

  • • 20% year-over-year revenue growth in Q4 2025
  • • Customer count grew 16% to 288,706
  • • Average subscription revenue per customer increased 3% to $11,683
  • • Calculated billings grew 27% (20% constant currency) to $971.4 million
  • • Non-GAAP operating margin expanded to 22.6% from 18.9% in Q4 2024
  • • GAAP operating margin swung positive to 5.7% from negative 1.5%

HUBS Forward Guidance & Outlook

For Q1 2026, HubSpot expects total revenue of $862.0–$863.0 million (up 21% YoY as reported, 16% constant currency), non-GAAP operating income of $144.0–$145.0 million (17% operating margin), and non-GAAP EPS of $2.46–$2.48. For full year 2026, revenue is expected at $3.69–$3.70 billion (up 18% as reported, 16% constant currency), non-GAAP operating income of $736.0–$740.0 million (20% operating margin), and non-GAAP EPS of $12.38–$12.46. The company is updating its long-term non-GAAP tax rate from 20% to 15% beginning in 2026, reflecting the One Big Beautiful Bill signed into law on July 4, 2025.

24/7 Wall St

HUBS YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

HUBS Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“2025 was a transformative year for HubSpot, defined by the momentum of our agentic customer platform and clear acceleration upmarket. AI adoption gathered pace, as Breeze Customer Agent and Breeze Prospecting Agent delivered real outcomes for customers. At the same time, our upmarket business saw strong momentum, as large companies turned to HubSpot to drive AI innovation, consolidate tech stacks, and reduce their total cost of ownership. Heading into 2026, we're cementing our position as the leading agentic customer platform for scaling companies, building on our strength upmarket, and leading the new era of marketing with products and a playbook that drive growth. We're entering the year with focus and urgency, and I'm confident we're positioned to drive durable growth in the years ahead.”

— Yamini Rangan, Q4 2025 Earnings Press Release

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