HUBS Q2 2025 Earnings
Reported Aug 6, 2025 at 4:27 PM ET · SEC Source
Q2 25 EPS
$2.19
BEAT +3.11%
Est. $2.12
Q2 25 Revenue
$760.9M
BEAT +2.81%
Est. $740.1M
vs S&P Since Q2 25
-67.6%
TRAILING MARKET
HUBS -53.6% vs S&P +14.0%
Market Reaction
Did HUBS Beat Earnings? Q2 2025 Results
HubSpot posted a clean beat across the board in Q2 2025, with revenue climbing 19.4% year over year to $760.87 million against a consensus estimate of $740.08 million, while non-GAAP EPS of $2.19 cleared the $2.12 analyst estimate by 3.11%. The compa… Read more HubSpot posted a clean beat across the board in Q2 2025, with revenue climbing 19.4% year over year to $760.87 million against a consensus estimate of $740.08 million, while non-GAAP EPS of $2.19 cleared the $2.12 analyst estimate by 3.11%. The company's customer base expanding 18% to nearly 268,000 at quarter end was a key driver, as volume growth more than offset modest pricing gains, with average subscription revenue per customer rising just 1% to $11,310. Perhaps more telling was the 26% jump in calculated billings to $814.30 million, a figure that points to strengthening demand momentum heading into the back half of the year. CEO Yamini Rangan's AI-first pivot, anchored by Customer Agent and Prospecting Agent, appears to be resonating with go-to-market teams and has kept analyst sentiment broadly constructive on the stock's longer-term trajectory. Looking ahead, HubSpot guided Q3 revenue to $785 to $787 million and full-year 2025 revenue to approximately $3.08 to $3.09 billion, implying sustained 17% growth with non-GAAP operating margins stepping up meaningfully to 20% in Q3.
Key Takeaways
- • 19% YoY revenue growth driven by subscription revenue expansion
- • Customer base grew 18% to 267,982
- • Calculated billings grew 26% as-reported and 20% in constant currency to $814.3 million
- • Operating cash flow increased to $164.4 million from $117.8 million in Q2 2024
HUBS YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
HUBS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q2 was another solid quarter of continued revenue growth and customer expansion. Our strategy is to be the leading AI-first customer platform for scaling companies, and I'm excited by the progress we're making. Customer Agent and Prospecting Agent are delivering results for customers, and our embedded AI features are helping go-to-market teams work smarter and faster. We're innovating rapidly, reimagining our product and our company to be AI-first, and relentlessly focused on delivering customer value. Heading into Q3, we're strongly positioned to deliver durable, long-term growth.”
— Yamini Rangan, Q2 2025 Earnings Press Release
HUBS Earnings Trends
HUBS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HUBS EPS Trend
Earnings per share: estimate vs actual
HUBS Revenue Trend
Quarterly revenue: estimate vs actual
HUBS Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $2.99 | $3.09 | +3.34% | $846.7M | +2.00% |
| FY Full Year | $9.59 | $9.70 | +1.14% | $3.13B | +0.53% |
| Q3 25 BEAT | $2.59 | $2.66 | +2.86% | $809.5M | +2.88% |
| Q2 25 BEAT | $2.12 | $2.19 | +3.11% | $760.9M | +2.81% |
| Q1 25 BEAT | $1.76 | $1.78 | +0.96% | $714.1M | +1.96% |