HubSpot Inc. reported a total revenue of $2.6 billion for the fiscal year ending December 31, 2024, marking a 21% increase from $2.2 billion in 2023. The company achieved a net income of $4.6 million, a significant recovery from a net loss of $164.5 million in the previous year. This turnaround in profitability was attributed to a growing customer base, which expanded to 247,939 from 205,091 in 2023, and an increase in average subscription revenue per customer, which slightly decreased to $11,343 from $11,384.
The company has made strategic advancements, including the acquisition of Clearbit, a B2B data provider, for $140.4 million in December 2023, and Cacheflow, a subscription billing management solution, for $40.4 million in October 2024. These acquisitions are expected to enhance HubSpot's capabilities in data management and billing processes. Additionally, HubSpot has focused on expanding its product offerings, particularly in AI-powered engagement hubs, which are designed to improve customer interactions across various platforms.
Operationally, HubSpot's customer platform continues to gain traction, with a net revenue retention rate of 102.2% in 2024, down from 110.3% in 2023. The company reported that 53% of its customers are located outside the United States, contributing to approximately 47% of total revenue. The firm also noted a significant increase in its workforce, with 8,246 full-time employees as of December 31, 2024, up from 7,663 the previous year, reflecting its commitment to scaling operations to meet growing demand.
The filing also highlighted potential risks, including economic uncertainties, competition, and the need for continuous innovation in technology, particularly in AI and machine learning. HubSpot's management expressed optimism about future growth, emphasizing plans to invest in research and development, sales and marketing, and customer service to enhance its platform and expand its market presence. The company anticipates that these investments will support its long-term growth strategy and help maintain its competitive edge in the evolving software landscape.
About HUBSPOT INC
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.