# HUBSPOT, INC. (HUBS) — Stock CV

Hubspot, Inc. is a $11.3B technology company. Revenue grew 21.1% over the last year, it keeps 4¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 77.5× earnings — in the cheapest third of its own history.

> HubSpot provides a cloud-based marketing, sales, and customer service software platform referred to as the growth platform. The applications are available ala carte or packaged together.

## Identity

- **Ticker**: HUBS
- **Sector**: Technology
- **Industry**: Services-Prepackaged Software
- **Headquarters**: CAMBRIDGE, MA
- **Employees**: 9 016
- **Website**: https://www.hubspot.com
- **Market cap**: $11.3B
- **Last price**: $227.54
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $3.45B
- **Net income**: $147M
- **Free cash flow**: $797M
- **Net cash**: $1.44B
- **P/E**: 77.5
- **Revenue growth (YoY)**: 21.1%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 70 |
| Growth | 50 |
| Profitability | 21 |
| Health | 37 |
| Quality | 65 |
| Moat | 50 |

## Qualifications (beginner checklist) — 6 of 10 passed

- [x] Revenue growing — +21.1% YoY
- [x] Profitable — $147M TTM
- [x] Profit growing — +892.0% YoY
- [x] Generates cash — $797M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $11.3B market cap
- [ ] Not printing shares — +12.2% shares over ~5y
- [ ] Proven track record — 2/10 profitable years
- [ ] Financially stable — health score 12/100
- [ ] Valuation not extreme — P/E 77.5

## Experience (career milestones)

- **2026** — HubSpot acquired the creator-led entrepreneurship publication Starter Story
- **FY2025** — Best year on record: $45.9M net income
- **2025** — The company acquired XFunnel, an Israeli startup developing tools for AI-driven search and "answer…
- **FY2024** — Turned profitable: $4.63M net income after a loss year
- **2024** — HubSpot acquired Frame AI
- **2023** — Hubspot announced its acquisition of B2B intelligence firm Clearbit in November 2023
- **Jan 31, 2023** — HubSpot announced the first layoffs in the company's history
- **FY2021** — Revenue crossed $1B: $1.30B for the year
- **2017** — HubSpot acquired Kemvi, which applies artificial intelligence and machine learning to help sales teams
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2011** — The company introduced a Twitter tracking feature in 2011
- **2010** — HubSpot acquired Oneforty, the Twitter app store founded by Laura Fitton

## Strengths

- High gross margin (83.3%)
- Revenue growing 21.1% year over year
- Strong cash conversion — FCF is 23.1% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Thin interest coverage (-2.0×)
- Loss-making in 8 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.30B | -$77.8M | $210M |
| FY2022 | $1.73B | -$113M | $236M |
| FY2023 | $2.17B | -$165M | $317M |
| FY2024 | $2.63B | $4.63M | $561M |
| FY2025 | $3.13B | $45.9M | $708M |

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Source: https://stockcv.com/HUBS — derived from company filings; may be delayed or incomplete. Information, not investment advice.