$HUBS
HubSpot Inc

2022 Q3 Form 10-Q Financial Statement

#000095017022014846 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $444.0M $421.8M $395.6M
YoY Change 30.89% 35.71% 40.6%
Cost Of Revenue $82.13M $78.93M $72.94M
YoY Change 17.99% 25.53% 33.26%
Gross Profit $361.8M $342.8M $322.7M
YoY Change 34.22% 38.29% 42.37%
Gross Profit Margin 81.5% 81.29% 81.56%
Selling, General & Admin $280.0M $276.2M $241.1M
YoY Change 35.9% 43.53% 39.14%
% of Gross Profit 77.39% 80.55% 74.72%
Research & Development $114.0M $118.9M $92.74M
YoY Change 45.32% 64.92% 35.59%
% of Gross Profit 31.52% 34.69% 28.74%
Depreciation & Amortization $15.56M $14.26M $12.80M
YoY Change 35.89% 35.39% 14.19%
% of Gross Profit 4.3% 4.16% 3.97%
Operating Expenses $394.0M $395.1M $333.8M
YoY Change 38.5% 49.36% 38.13%
Operating Profit -$32.21M -$52.25M -$11.15M
YoY Change 115.8% 214.72% -25.8%
Interest Expense $923.0K $949.0K $950.0K
YoY Change -88.16% -86.78% -89.89%
% of Operating Profit
Other Income/Expense, Net $2.550M -$1.990M $3.257M
YoY Change 10.44% -68.46% -139.41%
Pretax Income -$29.66M -$54.24M -$7.897M
YoY Change 135.08% 136.73% -66.1%
Income Tax $1.748M $2.121M $1.444M
% Of Pretax Income
Net Earnings -$31.41M -$56.36M -$9.341M
YoY Change 128.69% 129.37% -59.67%
Net Earnings / Revenue -7.08% -13.36% -2.36%
Basic Earnings Per Share -$0.65 -$1.18 -$0.20
Diluted Earnings Per Share -$0.65 -$1.18 -$195.6K
COMMON SHARES
Basic Shares Outstanding 48.02M 47.82M 47.58M
Diluted Shares Outstanding 48.07M 47.82M 47.58M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.284B $1.246B $1.235B
YoY Change 9.71% 2.66% 4.67%
Cash & Equivalents $331.7M $305.7M $408.4M
Short-Term Investments $952.7M $940.4M $826.4M
Other Short-Term Assets $110.1M $119.8M $103.5M
YoY Change -3.21% 25.34% 31.31%
Inventory
Prepaid Expenses
Receivables $166.7M $166.0M $152.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.561B $1.532B $1.491B
YoY Change 10.63% 7.39% 8.98%
LONG-TERM ASSETS
Property, Plant & Equipment $102.6M $102.6M $102.8M
YoY Change 8.34% 4.77% 6.1%
Goodwill $45.01M $45.88M $46.77M
YoY Change -5.04% -3.99%
Intangibles
YoY Change
Long-Term Investments $152.7M $162.7M $195.0M
YoY Change 33.11% 94.19% 84.0%
Other Assets $56.40M $49.20M $39.92M
YoY Change 120.58% 95.56% -19.19%
Total Long-Term Assets $735.8M $742.2M $762.2M
YoY Change 12.44% 25.31% 26.7%
TOTAL ASSETS
Total Short-Term Assets $1.561B $1.532B $1.491B
Total Long-Term Assets $735.8M $742.2M $762.2M
Total Assets $2.297B $2.274B $2.253B
YoY Change 11.21% 12.65% 14.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.32M $11.82M $8.321M
YoY Change 585.08% -2.92% -53.51%
Accrued Expenses $183.9M $178.4M $173.5M
YoY Change 20.78% 41.29% 51.37%
Deferred Revenue $468.5M $469.6M $457.9M
YoY Change 25.82% 30.86% 36.21%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $19.37M
YoY Change -100.0% -100.0% 64.13%
Total Short-Term Liabilities $668.2M $662.2M $662.0M
YoY Change 21.53% 17.42% 37.29%
LONG-TERM LIABILITIES
Long-Term Debt $453.7M $453.2M $452.7M
YoY Change 19.78% 21.23% 4.66%
Other Long-Term Liabilities $12.42M $18.35M $21.99M
YoY Change 4.99% 52.23% 92.93%
Total Long-Term Liabilities $12.42M $18.35M $21.99M
YoY Change 4.99% 52.23% 92.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $668.2M $662.2M $662.0M
Total Long-Term Liabilities $12.42M $18.35M $21.99M
Total Liabilities $1.390B $1.402B $1.419B
YoY Change 12.71% 15.63% 18.77%
SHAREHOLDERS EQUITY
Retained Earnings -$626.7M -$595.3M -$539.0M
YoY Change 15.08% 12.14% 6.45%
Common Stock $1.551B $1.478B $1.379B
YoY Change 12.71% 10.75% 7.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $906.7M $871.5M $833.8M
YoY Change
Total Liabilities & Shareholders Equity $2.297B $2.274B $2.253B
YoY Change 11.21% 12.65% 14.39%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$31.41M -$56.36M -$9.341M
YoY Change 128.69% 129.37% -59.67%
Depreciation, Depletion And Amortization $15.56M $14.26M $12.80M
YoY Change 35.89% 35.39% 14.19%
Cash From Operating Activities $60.06M $40.92M $82.23M
YoY Change 40.82% 7.15% 31.14%
INVESTING ACTIVITIES
Capital Expenditures -$24.53M -$28.54M $9.940M
YoY Change 54.57% 79.88% 150.57%
Acquisitions
YoY Change
Other Investing Activities -$10.58M -$92.44M -$35.37M
YoY Change -75.46% 19.62% 461.49%
Cash From Investing Activities -$35.11M -$121.0M -$55.04M
YoY Change -40.46% 29.89% 211.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.619M
YoY Change -95.49%
Cash From Financing Activities 7.829M -14.89M 5.879M
YoY Change -125.61% 202.03% -126.97%
NET CHANGE
Cash From Operating Activities 60.06M 40.92M 82.23M
Cash From Investing Activities -35.11M -121.0M -55.04M
Cash From Financing Activities 7.829M -14.89M 5.879M
Net Change In Cash 32.78M -94.94M 31.42M
YoY Change -169.92% 58.56% 62.17%
FREE CASH FLOW
Cash From Operating Activities $60.06M $40.92M $82.23M
Capital Expenditures -$24.53M -$28.54M $9.940M
Free Cash Flow $84.59M $69.46M $72.29M
YoY Change 44.55% 28.49% 23.08%

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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2021Q1 hubs Convertible Debt Hedges Settlement
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us-gaap Share Based Compensation
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hubs Repayment Of Convertible Senior Notes Attributable To Debt Discount
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DeferredIncomeTaxExpenseBenefit
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hubs Accretion Amortization Of Debt Discount Premium
AccretionAmortizationOfDebtDiscountPremium
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hubs Accretion Amortization Of Debt Discount Premium
AccretionAmortizationOfDebtDiscountPremium
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Deferred Compensation
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us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
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hubs Increase Decrease In Right Of Use Assets
IncreaseDecreaseInRightOfUseAssets
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hubs Increase Decrease In Right Of Use Assets
IncreaseDecreaseInRightOfUseAssets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
15533000
hubs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
11330000
hubs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
18374000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
52506000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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hubs Proceeds From Settlement Of Convertible Notes
ProceedsFromSettlementOfConvertibleNotes
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hubs Payment For Settlement Of2022 Convertible Notes
PaymentForSettlementOf2022ConvertibleNotes
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us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
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us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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ProceedsFromSettlementOfConvertibleNotes
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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hubs Payment For Purchase Of Strategic Investments
PaymentForPurchaseOfStrategicInvestments
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hubs Payment For Purchase Of Strategic Investments
PaymentForPurchaseOfStrategicInvestments
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hubs Payment For Settlement Of2022 Convertible Notes
PaymentForSettlementOf2022ConvertibleNotes
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us-gaap Repayments Of Long Term Debt
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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hubs Issuance Of Common Stock For Repayment Of Convertible Notes
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
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ContractWithCustomerLiabilityAdditions
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us-gaap Contract With Customer Liability Revenue Recognized
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RevenueRemainingPerformanceObligationContractPeriod
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hubs Revenue Remaining Performance Obligation Percentage Recognized
RevenueRemainingPerformanceObligationPercentageRecognized
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IncreaseDecreaseInDeferredSalesCommission
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us-gaap Amortization Of Deferred Sales Commissions
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CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Basic
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
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AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
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CY2022Q2 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CashAndCashEquivalentsAtCarryingValue
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
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DepreciationAndAmortization
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
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95374000
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
82734000
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
50228000
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
39858000
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
7500000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
14600000
CY2021Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
5300000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
10200000
CY2022Q1 hubs Increase Decrease In Retained Earnings
IncreaseDecreaseInRetainedEarnings
31400000
CY2022Q1 hubs Increase Decrease In Convertible Notes Payable
IncreaseDecreaseInConvertibleNotesPayable
69800000
CY2022Q1 hubs Increase Decrease In Convertible Notes Payable Current
IncreaseDecreaseInConvertibleNotesPayableCurrent
500000
CY2022Q1 hubs Increase Decrease In Convertible Long Term Notes Payable
IncreaseDecreaseInConvertibleLongTermNotesPayable
69300000
CY2022Q1 hubs Increase Decrease In Additional Paid In Capital
IncreaseDecreaseInAdditionalPaidInCapital
101200000
CY2022Q2 hubs Operating Lease Right Of Use Asset Additions
OperatingLeaseRightOfUseAssetAdditions
6100000
CY2022Q2 hubs Operating Lease Liability Noncurrent Additions
OperatingLeaseLiabilityNoncurrentAdditions
6100000
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
21700000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
11900000
us-gaap Operating Lease Expense
OperatingLeaseExpense
24000000.0
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
1100000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
1247000
us-gaap Sublease Income
SubleaseIncome
2288000
us-gaap Sublease Income
SubleaseIncome
2506000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
13300000
us-gaap Operating Lease Payments
OperatingLeasePayments
20900000
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
14000000.0
us-gaap Operating Lease Payments
OperatingLeasePayments
26100000
hubs Increase In Future Lease Commitments
IncreaseInFutureLeaseCommitments
76700000
hubs Lessee Operating Lease Commitments Not Yet Commenced
LesseeOperatingLeaseCommitmentsNotYetCommenced
1300000
CY2022Q2 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P2Y
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
22451000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
44430000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
41149000
CY2022Q2 hubs Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
168346000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
359756000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-9678000
CY2022Q2 hubs Purchase Of Rights To Domain Name
PurchaseOfRightsToDomainName
10000000.0
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P7Y
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81165000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43433000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126868000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75856000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81165000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43433000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126868000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75856000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
421755000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
310788000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
817354000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
592153000
CY2022Q2 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
366158000
CY2021Q4 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
376962000

Files In Submission

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0000950170-22-014846.txt Edgar Link pending
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hubs-20220630.htm Edgar Link pending
hubs-20220630.xsd Edgar Link pending
hubs-20220630_cal.xml Edgar Link unprocessable
hubs-20220630_def.xml Edgar Link unprocessable
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