HubSpot Q1 Earnings Call Highlights

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MarketBeat

Sun, May 10, 2026 astatine 6:06 PM CDT 8 min read

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Key Points

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HubSpot’s Q1 2026 gross roseate 23% twelvemonth implicit year, with non-GAAP operating borderline improving to 18% and escaped currency travel reaching $154 million. The institution besides ended the 4th with $1.8 cardinal successful currency and repurchased $211 cardinal of stock.
Customer maturation and larger deals remained strong, arsenic HubSpot added 10,800 nett caller customers and approached 300,000 full customers globally. Upmarket adoption continued to accelerate, with deals implicit $60,000 ARR up 37% and deals implicit $120,000 ARR up 64%.
AI monetization is gaining traction, with progressive halfway spot users up 90% and full credits consumed up 67% 4th implicit quarter. Management said outcome-based pricing and escaped trials whitethorn widen income cycles successful the adjacent term, but the institution inactive raised full-year 2026 gross and borderline guidance.

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HubSpot (NYSE:HUBS) reported first-quarter 2026 gross maturation of 23% twelvemonth implicit year, oregon 18% successful changeless currency, arsenic executives said the company’s halfway maturation initiatives and newer AI monetization efforts are gaining traction.

Chief Executive Officer Yamini Rangan said the 4th marked “a meaningful milestone” arsenic HubSpot’s full lawsuit number reached astir 300,000 globally. The institution added 10,800 nett caller customers during the period, with Chief Financial Officer Kate Bueker noting peculiar spot successful starter lawsuit additions.

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Rangan said HubSpot’s “core maturation levers of upmarket, multi-hub, and level consolidation and pricing tailwind stay solid,” portion its emerging AI monetization levers tied to halfway seats and credits are “gaining traction.”

Revenue Growth and Margin Expansion

Bueker said first-quarter subscription gross grew 23% twelvemonth implicit year, portion services and different gross roseate 22%, some connected an as-reported basis. Domestic gross accrued 18%, portion planetary gross grew 29% arsenic reported and 18% successful changeless currency. International gross represented 49% of full revenue.

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Average subscription gross per lawsuit was $11,700 successful the quarter, up 6% twelvemonth implicit twelvemonth arsenic reported and 2% successful changeless currency. Customer dollar retention remained successful the precocious 80s, portion nett gross retention was 103%. Bueker said the sequential diminution successful nett gross retention was expected owed to mean first-quarter seasonality pursuing highest upgrade enactment successful the 4th quarter.

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