HubSpot, Inc.

$HUBS

$602.85

Капитализция: $19.7B

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О компании

HubSpot, Inc. предоставляет облачную платформу управления взаимоотношениями с клиентами (CRM) для предприятий в Северной и Южной Америке, Европе и Азиатско-Тихоокеанском регионе. Платформа CRM компании включает в себя системы управления маркетингом, показать больше

продажами, обслуживанием и контентом, а также интегрированные приложения, такие как поисковая оптимизация, ведение блогов, управление контентом веб-сайтов, обмен сообщениями, чат-боты, социальные сети, автоматизация маркетинга, электронная почта, прогнозирование лидов и т. Д. продуктивность продаж, инструменты для продажи билетов и службы поддержки, опросы клиентов NPS, аналитика и отчеты. Он также предлагает профессиональные услуги поддержки, а также услуги поддержки по телефону и / или электронной почте и в чате. Он обслуживает компании среднего бизнеса. HubSpot, Inc. была зарегистрирована в 2005 году, ее штаб-квартира находится в Кембридже, Массачусетс.

HubSpot, Inc. provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes marketing, sales, service, and content management systems, as well as integrated applications, such as search engine optimization, blogging, website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting. It also offers professional, as well as phone and/or email and chat based support services. It serves mid-market business-to-business companies. HubSpot, Inc. was incorporated in 2005 and is headquartered in Cambridge, Massachusetts.

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Отчетность

03.11.2021, 23:08 EPS за 3 квартал составил ХХ, консенсус YY

04.08.2021, 23:12 Прибыль на акцию за 2 квартал XX, консенсус-прогноз YY

Квартальная отчетность будет доступна после Регистрации

Прогнозы аналитиков

Аналитик Аарон Кесслер поддерживает с сильной покупкой и снижает целевую цену со xxx до yyy долларов.

25.10.2021, 16:02 Аналитик Berenberg Сунил Райгопал инициирует освещение на GoDaddy с рейтингом «Покупать» и объявляет целевую цену в xxx долларов.

Прогнозы аналитиков будут доступны после Регистрации

HubSpot Reports Q1 2022 Results

HubSpot сообщает о результатах за первый квартал 2022 г.

5 мая 2022 г.

CAMBRIDGE, Mass., May 5, 2022 /PRNewswire/ -- HubSpot, Inc. (NYSE: HUBS), the customer relationship management (CRM) platform for scaling companies, today announced financial results for the first quarter ended March 31, 2022.

Financial Highlights:

Total revenue was $395.6 million, up 41% compared to Q1'21.
- Subscription revenue was $385.0 million, up 42% compared to Q1'21.
- Professional services and other revenue was $10.6 million, down 4% compared to Q1'21.

Cautionary Language Concerning Forward-Looking StatementsThis press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management's expectations of future financial and operational performance and operational expenditures, expected growth, and business outlook, including our financial guidance for the second fiscal quarter of and full year 2022; and statements regarding our positioning for future growth and market leadership; statements regarding expected market trends, future priorities and related investments, and opportunities. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks associated with our history of losses; our ability to retain existing customers and add new customers; the continued growth of the market for a CRM platform; our ability to differentiate our platform from competing products and technologies; our ability to manage our growth effectively to maintain our high level of service; our ability to maintain and expand relationships with our solutions partners; our ability to successfully recruit and retain highly-qualified personnel; the price volatility of our common stock; the impact of geo-political conflicts, inflation, macroeconomic instability, and the COVID-19 pandemic on our business, the broader economy, our workforce and operations, and our ability to forecast our future financial performance; and other risks set forth under the caption "Risk Factors" in our SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Consolidated Balance Sheets (in thousands)

	March 31,		December 31,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	408,433	$	377,013
Short-term investments		826,449		820,962
Accounts receivable		152,729		157,362
Deferred commission expense		63,210		59,849
Prepaid expenses and other current assets		40,260		38,388
Total current assets		1,491,081		1,453,574
Long-term investments		195,045		174,895
Property and equipment, net		102,751		96,134
Capitalized software development costs, net		44,020		39,858
Right-of-use assets		276,548		280,828
Deferred commission expense, net of current portion		47,181		42,681
Other assets		39,918		29,244
Intangible assets, net		9,988		10,565
Goodwill		46,770		47,075
Total assets	$	2,253,302	$	2,174,854
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	8,321	$	2,773
Accrued compensation costs		60,595		63,836
Accrued expenses and other current liabilities		84,825		74,457
Convertible senior notes		19,367		19,630
Operating lease liabilities		30,947		26,364
Deferred revenue		457,916		430,414
Total current liabilities		661,971		617,474
Operating lease liabilities, net of current portion		278,056		283,873
Deferred revenue, net of current portion		4,700		4,473
Other long-term liabilities		21,992		12,134
Convertible senior notes, net of current portion		452,747		383,101
Total liabilities		1,419,466		1,301,055
Stockholders' equity:
Common stock		48		47
Additional paid-in capital		1,378,457		1,436,089
Accumulated other comprehensive (loss) income		(5,696)		(1,339)
Accumulated deficit		(538,973)		(560,998)
Total stockholders' equity		833,836		873,799
Total liabilities and stockholders' equity	$	2,253,302	$	2,174,854

Consolidated Statements of Cash Flows (in thousands)

	For the Three Months Ended March 31,
	2022		2021
Operating Activities:
Net loss		(9,341)	$	(23,159)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities
Depreciation and amortization		12,798		11,208
Stock-based compensation		45,704		32,423
Loss on early extinguishment of 2022 Convertible Notes	—			2,406
Repayment of 2022 Convertible Notes attributable to the debt discount	—			(9,805)
Gain on strategic investments		(4,221)	—
Benefit from deferred income taxes		(246)		(1,006)
Amortization of debt discount and issuance costs		507		6,493
Amortization of bond discount		585		515
Unrealized currency translation		703		(49)
Changes in assets and liabilities
Accounts receivable		3,552		16,475
Prepaid expenses and other assets		(3,927)		2,715
Deferred commission expense		(8,354)		(6,305)
Right-of-use assets		6,528		10,354
Accounts payable		3,625		4,598
Accrued expenses and other liabilities		7,135		(2,429)
Operating lease liabilities		(2,318)		(9,272)
Deferred revenue		29,496		27,538
Net cash and cash equivalents provided by operating activities		82,226		62,700
Investing Activities:
Purchases of investments		(435,547)		(362,288)
Maturities of investments		405,219		376,918
Purchases of property and equipment		(9,940)		(3,967)
Acquisition of a business, net of cash acquired	—			(16,810)
Purchases of strategic investments		(5,046)		(1,850)
Equity method investment	—			(2,308)
Capitalization of software development costs		(9,722)		(7,341)
Net cash and cash equivalents used in investing activities		(55,036)		(17,646)
Financing Activities:
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes	—			723
Repayment of 2022 Convertible Notes attributable to the principal	—			(35,900)
Repayment of 2025 Convertible Notes attributable to the principal		(1,619)	—
Employee taxes paid related to the net share settlement of stock-based awards		(4,354)		(2,964)
Proceeds related to the issuance of common stock under stock plans		11,852		16,339
Net cash and cash equivalents provided by (used in) financing activities		5,879		(21,802)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(1,649)		(3,877)
Net increase in cash, cash equivalents and restricted cash		31,420		19,375
Cash, cash equivalents and restricted cash, beginning of period		380,042		381,152
Cash, cash equivalents and restricted cash, end of period	$	411,462	$	400,527

A.	Stock-based compensation is a non-cash expense accounted for in accordance with FASB ASC Topic 718. We believe that the exclusion of stock-based compensation expense allows for financial results that are more indicative of our operational performance and provide for a useful comparison of our operating results to prior periods and to our peer companies because stock-based compensation expense varies from period to period and company to company due to such things as differing valuation methodologies and changes in stock price.

B.	Expense for the amortization of acquired intangible assets, excluding backlog acquired intangible assets amortized as contra revenue, is excluded from non-GAAP expense and income measures as HubSpot views amortization of these assets as arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is a non-cash expense that is not typically affected by operations during any particular period. Valuation and subsequent amortization of intangible assets can also be inconsistent in amount and frequency because they can significantly vary based on the timing and size of acquisitions and the inherently subjective nature of the degree to which a purchase price is allocated to intangible assets. We believe that the exclusion of this amortization expense provides for a useful comparison of our operating results to prior periods, for which we have historically excluded amortization expense, and to our peer companies, which commonly exclude acquired intangible asset amortization. It is important to note that although we exclude amortization of acquired intangible assets from our non-GAAP expense and income measures, revenue generated from such intangibles is included within our non-GAAP income measures. The use of these intangible assets contributed to our revenues earned during the periods presented and will contribute to future periods as well.

C.	Acquisition related expenses, such as transaction costs and retention payments, are expenses that are not necessarily reflective of operational performance during a period. We believe that the exclusion of these expenses provides for a useful comparison of our operating results to prior periods and to our peer companies, which commonly exclude these expenses.

D.	In May 2017, the Company issued $400 million of convertible notes due in 2022 with a coupon interest rate of 0.25%. In June 2020, the Company issued $460 million of convertible notes due in 2025 with a coupon interest rate of 0.375%. In August 2020, the FASB published ASU 2020-06, which was adopted on January 1, 2022. ASU 2020-06 simplifies the accounting for convertible debt and other equity-linked instruments and eliminates requirements to separately account for liability and equity components of such convertible debt instruments. Consequently, our convertible notes are accounted for as a single liability and the discount created by the recognition of a component of the convertible debt in equity is eliminated. The issuance cost of the debt is amortized as interest expense over the remaining term of the debt. We believe the exclusion of this non-cash interest expense provides for a useful comparison of our operating results to prior periods and to our peer companies.

	Prior to January 1, 2022, the difference between the fair value and carrying value of debt conversion settlements was recorded as a loss on early extinguishment of debt within interest expense. Upon the adoption of ASU 2020-06, no loss is recognized.

E.	Strategic investments consist of non-controlling equity investments in privately held companies. The recognition of gains or losses can vary significantly across periods and we do not view them to be indicative of our fundamental operating activities and believe the exclusion of gains or losses provides for a useful comparison of our operating results to prior periods and to our peer companies.

F.	We made a contribution to the Black Economic Development Fund (the "investee") managed by the Local Initiatives Support Corporation and have committed to make additional capital contributions. We account for this investment under the equity method of accounting. The proportionate share of our equity method investee's net earnings have been excluded in order to provide a comparable view of our operating results to prior periods and to our peer companies. We believe this activity is not reflective of our recurring core business operating results.

G.	The effects of income taxes on non-GAAP items reflect a fixed long-term projected tax rate of 20% to provide better consistency across reporting periods. To determine this long-term non-GAAP tax rate, we exclude the impact of other non-GAAP adjustments and take into account other factors such as our current operating structure and existing tax positions in various jurisdictions. We will periodically reevaluate this tax rate, as necessary, for significant events such as relevant tax law changes and material changes in our forecasted geographic earnings mix.

КЕМБРИДЖ, Массачусетс, 5 мая 2022 г. /PRNewswire/ -- HubSpot, Inc. (NYSE: HUBS), платформа управления взаимоотношениями с клиентами (CRM) для масштабирования компаний, сегодня объявила финансовые результаты за первый квартал, закончившийся 31 марта 2022 года.

Основные финансовые показатели:

Общая выручка составила $395,6 млн, что на 41% больше, чем в 1 квартале 21 года.
- Доход от подписки составил $385,0 млн, что на 42% больше, чем в 1 квартале 21 года.
- Выручка от профессиональных услуг и прочих услуг составила 10,6 млн долларов, что на 4% меньше, чем в 1 квартале 21 года.

Предостерегающие формулировки В отношении прогнозных заявленийэтот пресс-релиз содержит определенные "прогнозные заявления" по смыслу Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года, включая заявления относительно ожиданий руководства относительно будущих финансовых и операционных показателей и операционных расходов, ожидаемого роста и перспектив бизнеса, включая наши финансовые рекомендации на второй финансовый квартал и весь 2022 год; и заявления относительно нашего позиционирования для будущего роста и лидерства на рынке; заявления относительно ожидаемых тенденций рынка, будущих приоритетов и связанных с ними инвестиций и возможностей. Эти прогнозные заявления включают, но не ограничиваются ими, планы, цели, ожидания и намерения, а также другие заявления, содержащиеся в настоящем пресс-релизе, которые не являются историческими фактами и заявлениями, обозначаемыми такими словами, как "ожидает", "ожидает", "намеревается", "планирует", "полагает", "ищет", "оценивает" или слова с аналогичным значением. Эти прогнозные заявления отражают наши текущие взгляды на наши планы, намерения, ожидания, стратегии и перспективы, которые основаны на имеющейся у нас в настоящее время информации и сделанных нами предположениях. Хотя мы считаем, что наши планы, намерения, ожидания, стратегии и перспективы, отраженные в этих прогнозных заявлениях или предлагаемые ими, являются разумными, мы не можем дать никаких гарантий в том, что планы, намерения, ожидания или стратегии будут реализованы или реализованы. Кроме того, фактические результаты могут существенно отличаться от результатов, описанных в прогнозных заявлениях, и на них будут влиять различные риски и факторы, которые находятся вне нашего контроля, включая, помимо прочего, риски, связанные с нашей историей потерь; наша способность удерживать существующих клиентов и добавлять новых клиентов; продолжающийся рост рынок CRM-платформы; наша способность отличать нашу платформу от конкурирующих продуктов и технологий; наша способность эффективно управлять нашим ростом для поддержания высокого уровня обслуживания; наша способность поддерживать и расширять отношения с нашими партнерами по решениям; наша способность успешно набирать и удерживать высококвалифицированный персонал; цена волатильность наших обыкновенных акций; влияние геополитических конфликтов, инфляции, макроэкономической нестабильности и пандемии COVID-19 на наш бизнес, экономику в целом, нашу рабочую силу и операции, а также нашу способность прогнозировать наши будущие финансовые показатели; и другие риски, указанные в разделе "Факторы риска". в наших заявках SEC. Мы не берем на себя никаких обязательств по обновлению каких-либо прогнозных заявлений, содержащихся в этом документе, в результате новой информации, будущих событий или иным образом.

Consolidated Balance Sheets (in thousands)

	March 31,		December 31,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	408,433	$	377,013
Short-term investments		826,449		820,962
Accounts receivable		152,729		157,362
Deferred commission expense		63,210		59,849
Prepaid expenses and other current assets		40,260		38,388
Total current assets		1,491,081		1,453,574
Long-term investments		195,045		174,895
Property and equipment, net		102,751		96,134
Capitalized software development costs, net		44,020		39,858
Right-of-use assets		276,548		280,828
Deferred commission expense, net of current portion		47,181		42,681
Other assets		39,918		29,244
Intangible assets, net		9,988		10,565
Goodwill		46,770		47,075
Total assets	$	2,253,302	$	2,174,854
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	8,321	$	2,773
Accrued compensation costs		60,595		63,836
Accrued expenses and other current liabilities		84,825		74,457
Convertible senior notes		19,367		19,630
Operating lease liabilities		30,947		26,364
Deferred revenue		457,916		430,414
Total current liabilities		661,971		617,474
Operating lease liabilities, net of current portion		278,056		283,873
Deferred revenue, net of current portion		4,700		4,473
Other long-term liabilities		21,992		12,134
Convertible senior notes, net of current portion		452,747		383,101
Total liabilities		1,419,466		1,301,055
Stockholders' equity:
Common stock		48		47
Additional paid-in capital		1,378,457		1,436,089
Accumulated other comprehensive (loss) income		(5,696)		(1,339)
Accumulated deficit		(538,973)		(560,998)
Total stockholders' equity		833,836		873,799
Total liabilities and stockholders' equity	$	2,253,302	$	2,174,854

Consolidated Statements of Cash Flows (in thousands)

	For the Three Months Ended March 31,
	2022		2021
Operating Activities:
Net loss		(9,341)	$	(23,159)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities
Depreciation and amortization		12,798		11,208
Stock-based compensation		45,704		32,423
Loss on early extinguishment of 2022 Convertible Notes	—			2,406
Repayment of 2022 Convertible Notes attributable to the debt discount	—			(9,805)
Gain on strategic investments		(4,221)	—
Benefit from deferred income taxes		(246)		(1,006)
Amortization of debt discount and issuance costs		507		6,493
Amortization of bond discount		585		515
Unrealized currency translation		703		(49)
Changes in assets and liabilities
Accounts receivable		3,552		16,475
Prepaid expenses and other assets		(3,927)		2,715
Deferred commission expense		(8,354)		(6,305)
Right-of-use assets		6,528		10,354
Accounts payable		3,625		4,598
Accrued expenses and other liabilities		7,135		(2,429)
Operating lease liabilities		(2,318)		(9,272)
Deferred revenue		29,496		27,538
Net cash and cash equivalents provided by operating activities		82,226		62,700
Investing Activities:
Purchases of investments		(435,547)		(362,288)
Maturities of investments		405,219		376,918
Purchases of property and equipment		(9,940)		(3,967)
Acquisition of a business, net of cash acquired	—			(16,810)
Purchases of strategic investments		(5,046)		(1,850)
Equity method investment	—			(2,308)
Capitalization of software development costs		(9,722)		(7,341)
Net cash and cash equivalents used in investing activities		(55,036)		(17,646)
Financing Activities:
Proceeds from settlement of Convertible Note Hedges related to the 2022 Convertible Notes	—			723
Repayment of 2022 Convertible Notes attributable to the principal	—			(35,900)
Repayment of 2025 Convertible Notes attributable to the principal		(1,619)	—
Employee taxes paid related to the net share settlement of stock-based awards		(4,354)		(2,964)
Proceeds related to the issuance of common stock under stock plans		11,852		16,339
Net cash and cash equivalents provided by (used in) financing activities		5,879		(21,802)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(1,649)		(3,877)
Net increase in cash, cash equivalents and restricted cash		31,420		19,375
Cash, cash equivalents and restricted cash, beginning of period		380,042		381,152
Cash, cash equivalents and restricted cash, end of period	$	411,462	$	400,527

Финансовые показатели, Не относящиеся к ОПБУ Мы сообщаем о наших финансовых результатах в соответствии с принципами бухгалтерского учета, общепринятыми в Соединенных Штатах Америки, или GAAP. Однако руководство считает, что для правильного понимания наших краткосрочных и долгосрочных финансовых и операционных тенденций инвесторы могут пожелать рассмотреть влияние определенных неденежных или единовременных статей при использовании в качестве дополнения к показателям финансовой деятельности в соответствии с GAAP. Эти статьи являются результатом фактов и обстоятельств, которые различаются по частоте и влиянию на продолжающуюся деятельность. В этом выпуске операционные доходы HubSpot, не относящиеся к GAAP, операционная маржа, маржа подписки, расходы, расходы в процентах от выручки, чистая прибыль, операционный и свободный денежный поток не представлены в соответствии с GAAP и не предназначены для использования вместо представления результатов операций по GAAP. Свободный денежный поток определяется как денежные средства и их эквиваленты, предоставленные или использованные в операционной деятельности, за вычетом приобретения основных средств и капитализации затрат на разработку программного обеспечения, плюс выплаты конвертируемых облигаций, относящиеся к дисконту по долгу. Мы считаем, что информация о свободном денежном потоке предоставляет инвесторам полезную информацию для понимания и оценки уровня ликвидности, а доступные денежные средства обеспечивают сопоставимую основу для оценки эффективности нашего бизнеса по сравнению с предыдущими периодами, которые исключали выплаты по нашим конвертируемым облигациям, связанные с дисконтом долга, из операционного денежного потока. Мы больше не исключаем такие выплаты в результате принятия 1 января 2022 года Обновления Стандартов бухгалтерского учета ("ASU") 2020-06.

Руководство считает, что эти финансовые показатели, не относящиеся к GAAP, предоставляют дополнительные средства для оценки операционных показателей за период. В частности, эти финансовые показатели, не относящиеся к GAAP, предоставляют руководству дополнительные средства для понимания и оценки операционных результатов и тенденций в нашей текущей деятельности путем исключения определенных неденежных расходов и других статей, которые, по мнению руководства, в противном случае могли бы затруднить сравнение нашей текущей деятельности с предыдущими периодами, скрыть тенденции в текущей деятельности или уменьшите способность руководства делать полезные прогнозы. Кроме того, руководство понимает, что некоторые инвесторы и финансовые аналитики считают эту информацию полезной для анализа наших финансовых и операционных показателей и сравнения этих показателей с нашими аналогами и конкурентами. Однако эти финансовые показатели, не относящиеся к ОПБУ, имеют ограничения в качестве аналитического инструмента и не предназначены в качестве альтернативы финансовым показателям, подготовленным в соответствии с ОПБУ. Кроме того, следует отметить, что эти финансовые показатели, не относящиеся к GAAP, могут отличаться от показателей, не относящихся к GAAP, используемых другими компаниями. Мы намерены представить эти финансовые показатели, не относящиеся к GAAP, в рамках наших будущих обсуждений доходов, и, следовательно, включение этих финансовых показателей, не относящихся к GAAP, обеспечит последовательность в нашей финансовой отчетности. Однако руководство может использовать другие показатели для иллюстрации результатов деятельности в будущем. Инвесторам рекомендуется пересмотреть сверку этих показателей, не относящихся к GAAP, с их наиболее непосредственно сопоставимыми финансовыми показателями GAAP. Сверка наших финансовых показателей, не относящихся к GAAP, с их наиболее непосредственно сопоставимыми показателями GAAP была представлена в таблицах финансовой отчетности, приведенных выше в этом пресс-релизе.

A.	Stock-based compensation is a non-cash expense accounted for in accordance with FASB ASC Topic 718. We believe that the exclusion of stock-based compensation expense allows for financial results that are more indicative of our operational performance and provide for a useful comparison of our operating results to prior periods and to our peer companies because stock-based compensation expense varies from period to period and company to company due to such things as differing valuation methodologies and changes in stock price.

B.	Expense for the amortization of acquired intangible assets, excluding backlog acquired intangible assets amortized as contra revenue, is excluded from non-GAAP expense and income measures as HubSpot views amortization of these assets as arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is a non-cash expense that is not typically affected by operations during any particular period. Valuation and subsequent amortization of intangible assets can also be inconsistent in amount and frequency because they can significantly vary based on the timing and size of acquisitions and the inherently subjective nature of the degree to which a purchase price is allocated to intangible assets. We believe that the exclusion of this amortization expense provides for a useful comparison of our operating results to prior periods, for which we have historically excluded amortization expense, and to our peer companies, which commonly exclude acquired intangible asset amortization. It is important to note that although we exclude amortization of acquired intangible assets from our non-GAAP expense and income measures, revenue generated from such intangibles is included within our non-GAAP income measures. The use of these intangible assets contributed to our revenues earned during the periods presented and will contribute to future periods as well.

C.	Acquisition related expenses, such as transaction costs and retention payments, are expenses that are not necessarily reflective of operational performance during a period. We believe that the exclusion of these expenses provides for a useful comparison of our operating results to prior periods and to our peer companies, which commonly exclude these expenses.

D.	In May 2017, the Company issued $400 million of convertible notes due in 2022 with a coupon interest rate of 0.25%. In June 2020, the Company issued $460 million of convertible notes due in 2025 with a coupon interest rate of 0.375%. In August 2020, the FASB published ASU 2020-06, which was adopted on January 1, 2022. ASU 2020-06 simplifies the accounting for convertible debt and other equity-linked instruments and eliminates requirements to separately account for liability and equity components of such convertible debt instruments. Consequently, our convertible notes are accounted for as a single liability and the discount created by the recognition of a component of the convertible debt in equity is eliminated. The issuance cost of the debt is amortized as interest expense over the remaining term of the debt. We believe the exclusion of this non-cash interest expense provides for a useful comparison of our operating results to prior periods and to our peer companies.

	Prior to January 1, 2022, the difference between the fair value and carrying value of debt conversion settlements was recorded as a loss on early extinguishment of debt within interest expense. Upon the adoption of ASU 2020-06, no loss is recognized.

E.	Strategic investments consist of non-controlling equity investments in privately held companies. The recognition of gains or losses can vary significantly across periods and we do not view them to be indicative of our fundamental operating activities and believe the exclusion of gains or losses provides for a useful comparison of our operating results to prior periods and to our peer companies.

F.	We made a contribution to the Black Economic Development Fund (the "investee") managed by the Local Initiatives Support Corporation and have committed to make additional capital contributions. We account for this investment under the equity method of accounting. The proportionate share of our equity method investee's net earnings have been excluded in order to provide a comparable view of our operating results to prior periods and to our peer companies. We believe this activity is not reflective of our recurring core business operating results.

G.	The effects of income taxes on non-GAAP items reflect a fixed long-term projected tax rate of 20% to provide better consistency across reporting periods. To determine this long-term non-GAAP tax rate, we exclude the impact of other non-GAAP adjustments and take into account other factors such as our current operating structure and existing tax positions in various jurisdictions. We will periodically reevaluate this tax rate, as necessary, for significant events such as relevant tax law changes and material changes in our forecasted geographic earnings mix.

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15.06.2022, 15:31 МСК HubSpot Releases 2022 Sustainability Report, Highlighting ESG Progress and Goals HubSpot's second-annual Sustainability Report discloses progress and trajectory across key pillars and aligns with industry standards, including Sustainability Accounting Standards BoardHubSpot выпускает отчет об устойчивом развитии за 2022 г., в котором освещаются достижения и цели ESG Второй ежегодный отчет об устойчивом развитии HubSpot раскрывает прогресс и траекторию движения по ключевым направлениям и согласуется с отраслевыми стандартами, в том числе с Советом по стандартам бухгалтерского учета в области устойчивого развития.

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17.05.2022, 23:10 МСК HubSpot Announces Participation in Upcoming Financial Conferences CAMBRIDGE, Mass., May 17, 2022 /PRNewswire/ -- HubSpot, Inc., the customer relationship management (CRM) platform for scaling companies, announced today that members of its executive team are scheduled to present at the conferences listed below. All interested parties can access the webcasts live on the Company's investor relations website at ir.hubspot.com. The Company will also host 1-on-1 investor meetings on the same day as the conferences.HubSpot объявляет об участии в предстоящих финансовых конференциях КЕМБРИДЖ, Массачусетс, 17 мая 2022 г. /PRNewswire/ -- HubSpot, Inc., платформа управления взаимоотношениями с клиентами (CRM) для крупных компаний, объявила сегодня о том, что члены ее руководящего состава планируют выступить на конференциях, перечисленных ниже. Все заинтересованные стороны могут получить доступ к веб-трансляциям в прямом эфире на веб-сайте Компании по связям с инвесторами по адресу ir.HubSpot.com. Компания также будет проводить встречи с инвесторами один на один в тот же день, что и конференции.

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20.04.2022, 23:10 МСК HubSpot Announces Date of First Quarter 2022 Financial Results Release CAMBRIDGE, Mass., April 20, 2022 /PRNewswire/ -- HubSpot, the customer relationship management (CRM) platform for scaling companies, announced today that it will report its first quarter 2022 financial results after the U.S. financial markets close on Thursday, May 5, 2022.HubSpot объявляет дату публикации финансовых результатов за первый квартал 2022 г. КЕМБРИДЖ, Массачусетс, 20 апреля 2022 г. /PRNewswire/ -- HubSpot, платформа управления взаимоотношениями с клиентами (CRM) для крупных компаний, объявила сегодня о том, что опубликует финансовые результаты за первый квартал 2022 г. после закрытия финансовых рынков США в четверг, май. 5, 2022.

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Consolidated Statements of Operations (in thousands, except per share data)

	For the Three Months Ended March 31,
	2022		2021
Revenues:
Subscription	$	384,956	$	270,263
Professional services and other		10,643		11,102
Total revenue		395,599		281,365
Cost of revenues:
Subscription		59,384		43,853
Professional services and other		13,552		10,881
Total cost of revenues		72,936		54,734
Gross profit		322,663		226,631
Operating expenses:
Research and development		92,736		68,396
Sales and marketing		197,134		141,017
General and administrative		43,947		32,250
Total operating expenses		333,817		241,663
Loss from operations		(11,154)		(15,032)
Other expense:
Interest income		515		475
Interest expense		(950)		(9,399)
Other income		3,692		660
Total other expense		3,257		(8,264)
Loss before income tax expense		(7,897)		(23,296)
Income tax (expense) benefit		(1,444)		137
Net loss	$	(9,341)	$	(23,159)
Net loss per share, basic and diluted	$	(0.20)	$	(0.50)
Weighted average common shares used in computing basic and diluted net loss per share:		47,577		46,428

Reconciliation of non-GAAP operating income and operating margin (in thousands, except percentages)

	Three Months Ended March 31,
	2022			2021
GAAP operating loss	$	(11,154)		$	(15,032)
Stock-based compensation		45,704			32,423
Amortization of acquired intangible assets		410			345
Acquisition related expenses		—			1,195
Non-GAAP operating income	$	34,960		$	18,931

GAAP operating margin		(2.8)	%		(5.3)	%
Non-GAAP operating margin		8.8	%		6.7	%


Reconciliation of non-GAAP net income (in thousands, except per share amounts)

	Three Months Ended March 31,
	2022			2021
GAAP net loss	$	(9,341)			(23,159)
Stock-based compensation		45,704			32,423
Amortization of acquired intangibles assets		410			345
Acquisition related expenses		—			1,195
Non-cash interest expense for amortization of debt discount and debt issuance costs		507			6,493
Gain on strategic investments		(4,221)			—
Loss on early extinguishment of 2022 Convertible Notes	—				2,406
Gain on equity method investment		(105)			—
Income tax effects of non-GAAP items		(5,436)			(4,050)
Non-GAAP net income	$	27,518			15,653

Non-GAAP net income per share:
Basic	$	0.58		$	0.34
Diluted	$	0.54		$	0.31
Shares used in non-GAAP per share calculations
Basic		47,577			46,428
Diluted		51,201			50,436

Reconciliation of non-GAAP expense and expense as a percentage of revenue (in thousands, except percentages)

	Three Months Ended March 31,
	2022															2021
	COS, Subs- cription			COS, Prof. services & other			R&D			S&M			G&A			COS, Subs- cription			COS, Prof. services & other			R&D			S&M			G&A
GAAP expense	$	59,384		$	13,552		$	92,736		$	197,134		$	43,947		$	43,853		$	10,881		$	68,396		$	141,017		$	32,250
Stock -based compensation		(1,823)			(835)			(16,986)			(16,869)			(9,191)			(1,310)			(697)			(11,484)			(13,629)			(5,303)
Amortization of acquired intangible assets		(321)			—			—			(89)			—			(239)			—			—			(106)			—
Acquisition related expenses		—			—			—			—			—			—			—			(344)			(367)			(484)
Non-GAAP expense	$	57,240		$	12,717		$	75,750		$	180,176		$	34,756		$	42,304		$	10,184		$	56,568		$	126,915		$	26,463

GAAP expense as a percentage of revenue		15.0	%		3.4	%		23.4	%		49.8	%		11.1	%		15.6	%		3.9	%		24.3	%		50.1	%		11.5	%
Non-GAAP expense as a percentage of revenue		14.5	%		3.2	%		19.1	%		45.5	%		8.8	%		15.0	%		3.6	%		20.1	%		45.1	%		9.4	%

Reconciliation of non-GAAP subscription margin (in thousands, except percentages)

		Three Months Ended March 31,
		2022			2021
GAAP subscription margin		$	325,572		$	226,410
Stock -based compensation			1,823			1,310
Amortization of acquired intangible assets			321			239
Non-GAAP subscription margin		$	327,716		$	227,959

GAAP subscription margin percentage			84.6	%		83.8	%
Non-GAAP subscription margin percentage			85.1	%		84.3	%


Reconciliation of free cash flow
(in thousands)

		Three Months Ended March 31,
		2022			2021
GAAP net cash and cash equivalents provided by operating activities		$	82,226		$	62,700
Purchases of property and equipment			(9,940)			(3,967)
Capitalization of software development costs			(9,722)			(7,341)
Repayment of 2022 Convertible Notes attributable to the debt discount		—				9,805
Free cash flow		$	62,564		$	61,197


Reconciliation of operating cash flow (in thousands)

		Three Months Ended March 31,
		2022			2021
GAAP net cash and cash equivalents provided by operating activities		$	82,226		$	62,700
Repayment of 2022 Convertible Notes attributable to the debt discount		—				9,805
Operating cash flow, excluding repayment of convertible debt		$	82,226		$	72,505


Reconciliation of forecasted non-GAAP operating income (in thousands, except percentages)
	Three Months Ended June 30, 2022				Year Ended December 31, 2022
GAAP operating income range	($56,323)-($55,323)				($144,786)-($142,786)
Stock-based compensation		82,920				295,167
Amortization of acquired intangible assets		403				1,619
Non-GAAP operating income range	$27,000-$28,000				$152,000-$154,000

Reconciliation of forecasted non-GAAP net income and non-GAAP net income per share (in thousands, except per share amounts)

	Three Months Ended June 30, 2022		Year Ended December 31, 2022
GAAP net loss range	($58,881)-($57,631)		($147,325)-($146,075)
Stock-based compensation		82,920		295,167
Amortization of acquired intangible assets		403		1,619
Non-cash interest expense for amortization of debt issuance costs		510		2,013
Gain on strategic investments		—		(4,221)
Gain on equity method investment		—		(105)
Income tax effects of non-GAAP items	($3,452)-($3,702)		($23,648)-($23,898)
Non-GAAP net income range	$21,500-$22,500		$123,500-$124,500

GAAP net income per basic and diluted share	($1.23)-($1.20)		($3.05)-($3.02)
Non-GAAP net income per diluted share	$0.42-$0.44		$2.40-$2.42


Weighted average common shares used in computing GAAP basic and diluted net loss per share:		47,837		48,334
Weighted average common shares used in computing non-GAAP diluted net loss per share:		51,200		51,466