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HubSpot, Inc. (symbol: HUBS) is the world’s leading inbound marketing and sales platform, dedicated to transforming the way businesses attract, engage, and delight their customers. Founded in 2006, HubSpot is committed to making the world more inbound, helping companies grow better through its innovative software, services, and support.
Headquartered in Cambridge, Massachusetts, with offices in Dublin, Ireland, and Sydney, Australia, HubSpot serves over 15,000 customers in more than 90 countries. The company's cloud-based platform, known as the Growth Platform, encompasses a suite of tools for marketing, sales, and customer service. These applications can be used individually (a la carte) or combined into a comprehensive package, allowing businesses to tailor the platform to their specific needs.
HubSpot's software stands out for its ease of use, scalability, and effectiveness. It has been recognized by prestigious publications such as Inc., Forbes, and Deloitte as one of the world’s fastest-growing companies. The company's commitment to transparency and autonomy in the workplace has redefined modern corporate culture, making it not only a leader in technology but also in employee satisfaction and engagement.
Since completing its initial public offering in 2014, HubSpot has continued to innovate and expand its offerings. Its mission remains steadfast: to help companies grow better by providing powerful tools for inbound marketing, sales, and customer service. Recent projects and achievements include enhancements to its platform, fostering strategic partnerships, and delivering exceptional customer support.
To learn more about HubSpot's software, visit www.hubspot.com. If you are interested in joining the HubSpot team, check out hubspot.com/jobs.
HubSpot (NYSE: HUBS) reported strong Q3 2024 financial results with total revenue reaching $669.7 million, up 20% year-over-year. The company's subscription revenue grew 20% to $654.7 million, while professional services revenue increased 28% to $15.0 million. Non-GAAP operating margin improved to 18.7% from 16.5% in Q3'23, with operating income of $125.2 million. Customer base expanded to 238,128, marking a 23% increase. The company maintains a strong cash position of $2.1 billion and generated $164.0 million in non-GAAP operating cash flow. For Q4 2024, HubSpot expects revenue between $672.0-$674.0 million and full-year 2024 revenue of $2.597-$2.599 billion.
HubSpot (NYSE: HUBS) has completed its acquisition of Cacheflow, a B2B subscription billing management and configure, price, quote (CPQ) solution provider. The acquisition positions Cacheflow as a wholly owned subsidiary of HubSpot, with plans to integrate it into Commerce Hub. This strategic move enables HubSpot to incorporate billing and CPQ capabilities directly into Commerce Hub, aiming to automate revenue management and reduce sales cycle duration for customers.
HubSpot announced it will release its third quarter 2024 financial results after U.S. market close on Wednesday, November 6, 2024. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the quarterly results, business operations, and outlook. Interested participants can pre-register for the conference call through a provided dial-in link, and a webcast will be available. An archived version of the conference call will be accessible on HubSpot's Investor Relations website.
HubSpot (NYSE: HUBS) has announced its agreement to acquire Cacheflow, a leading B2B subscription billing management and configure, price, quote (CPQ) solution. This acquisition aims to expand HubSpot's commerce capabilities, particularly in subscription billing and quote-to-cash automation. The move follows HubSpot's successful launch of Commerce Hub in 2023, which has processed over $1 billion in GMV.
With Cacheflow's integration, HubSpot plans to enhance the buying process for customers, making quote-to-cash easier and helping businesses collect revenue faster. Cacheflow's no-code platform automates the SaaS sales flow process, allowing customers to configure quotes, close deals using interactive links, and manage upsells and renewals efficiently.
HubSpot's Marketing Hub has been named a Leader in the Gartner 2024 Magic Quadrant for B2B Marketing Automation Platforms for the fourth consecutive year. The recognition is based on Completeness of Vision and Ability to Execute. HubSpot's marketing software is built on a single customer platform with a full suite of front-office tools to help marketers break down silos, build customer relationships, and win business.
Recent enhancements to Marketing Hub include native social media publishing, marketing orchestration, and privacy-first marketing tools. The company introduced over 100 product updates at its Spring 2024 Spotlight, including Content Remix and Brand Voice. At Fall 2024 Spotlight, HubSpot unveiled 200+ updates, featuring a dedicated Lead Scoring app, Breeze AI with Copilot and Agents, and Breeze Intelligence for data enrichment and buyer intent.
HubSpot unveiled major updates at INBOUND 2024, focusing on making its customer platform easy, fast, and unified to drive business growth. Key launches include:
1. Breeze: HubSpot's AI powering the platform, featuring Copilot and four Breeze Agents for various tasks.
2. Breeze Intelligence: Data enrichment and buyer intent solution, enhancing CRM capabilities.
3. Updates to Marketing Hub and Content Hub, providing tools for content creation, lead generation, and analytics.
HubSpot also announced agent.ai, a network for AI agents, allowing users to build and hire agents for complex tasks. The company reports that 89% of customers with a unified platform use it daily, generating 107% more leads and closing 35% more deals.
Amplitude (NASDAQ: AMPL) and HubSpot (NYSE: HUBS) have announced a strategic partnership at INBOUND 2024 to enhance product-led growth for Go To Market (GTM) teams. The collaboration integrates Amplitude's digital analytics with HubSpot's Smart CRM, enabling teams to:
1. Leverage enhanced Lead Scoring with product usage insights
2. Utilize Customer Health Scoring for better expansion timing and churn prevention
3. View Amplitude charts in HubSpot dashboards
4. Target customer cohorts based on product usage
5. Analyze marketing campaign performance with combined data
The partnership aims to provide GTM teams with a unified view of customer behavior, improving lead prioritization, sales conversion, and customer retention. Joint customers like UserGuiding have reported significant boosts in sales conversions and operational efficiency.
HubSpot has announced its upcoming Analyst Day, scheduled for September 18, 2024, in Boston. The event will be held in conjunction with INBOUND 24, running from 9:30 a.m. to 1:00 p.m. Eastern Time. This gathering provides an opportunity for analysts to gain insights into HubSpot's strategies and performance.
For those unable to attend in person, HubSpot will offer a live webcast of the event, accessible at analystday.hubspot.com. An on-demand replay will also be available for later viewing. Additionally, presentation materials from the event will be made available on HubSpot's investor relations website at ir.hubspot.com following the conclusion of Analyst Day.
Similarweb (NYSE: SMWB), a leading digital market intelligence company, has appointed Kipp Bodnar to its Board of Directors, effective September 5, 2024. Bodnar, currently the Chief Marketing Officer at HubSpot (NYSE: HUBS), brings extensive experience in scaling SaaS businesses and driving growth.
Bodnar's expertise aligns with Similarweb's mission to provide unparalleled digital insights. His role at HubSpot, where he sets global marketing strategy and has contributed to exponential growth, is expected to be valuable as Similarweb expands its market leadership and enhances customer value.
This appointment comes as Similarweb continues to expand its offerings, global reach, and accelerate revenue growth and profitability. Bodnar's experience in building successful marketing strategies is anticipated to strengthen Similarweb's strategic direction.
HubSpot (NYSE: HUBS) reported strong Q2 2024 results with total revenue of $637.2 million, up 20% year-over-year. Subscription revenue grew 20% to $623.8 million. The company's non-GAAP operating income increased to $109.3 million, with a margin of 17.2%. Non-GAAP net income reached $103.5 million, or $1.94 per diluted share.
HubSpot's customer base grew 23% to 228,054, although average subscription revenue per customer slightly decreased by 2% to $11,215. The company generated $92.1 million in non-GAAP free cash flow. For Q3 2024, HubSpot expects revenue between $646.0-$647.0 million and non-GAAP operating income of $107.0-$108.0 million. Full-year 2024 guidance projects revenue of $2.567-$2.573 billion and non-GAAP operating income of $437.0-$441.0 million.
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