$HUBS
HUBSPOT INC

2024 Q3 Form 10-Q Financial Statement

#000095017024092843 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $669.7M $637.2M
YoY Change 20.12% 20.43%
Cost Of Revenue $99.32M $95.52M
YoY Change 13.48% 9.43%
Gross Profit $570.4M $541.7M
YoY Change 21.35% 22.6%
Gross Profit Margin 85.17% 85.01%
Selling, General & Admin $387.9M $366.4M
YoY Change 16.56% 12.21%
% of Gross Profit 68.0% 67.64%
Research & Development $191.2M $198.2M
YoY Change 21.87% 16.61%
% of Gross Profit 33.52% 36.58%
Depreciation & Amortization $25.01M $22.20M
YoY Change 22.0% 35.15%
% of Gross Profit 4.38% 4.1%
Operating Expenses $580.0M $565.6M
YoY Change 18.26% 0.95%
Operating Profit -$9.631M -$23.94M
YoY Change -52.89% -79.8%
Interest Expense $21.94M $901.0K
YoY Change 2209.79% -3.84%
% of Operating Profit
Other Income/Expense, Net $20.28M $21.25M
YoY Change 49.47% 64.31%
Pretax Income $10.65M -$2.682M
YoY Change -254.88% -97.46%
Income Tax $2.502M $11.75M
% Of Pretax Income 23.5%
Net Earnings $8.146M -$14.44M
YoY Change -249.11% -87.86%
Net Earnings / Revenue 1.22% -2.27%
Basic Earnings Per Share $0.16 -$0.28
Diluted Earnings Per Share $0.16 -$0.28
COMMON SHARES
Basic Shares Outstanding 51.35M 50.96M
Diluted Shares Outstanding 51.78M 51.01M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.938B $1.736B
YoY Change 21.35% 13.51%
Cash & Equivalents $410.1M $797.9M
Short-Term Investments $1.528B $937.8M
Other Short-Term Assets $221.8M $230.6M
YoY Change 34.11% 34.06%
Inventory
Prepaid Expenses
Receivables $278.9M $269.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.439B $2.236B
YoY Change 23.48% 17.21%
LONG-TERM ASSETS
Property, Plant & Equipment $111.0M $105.9M
YoY Change 5.72% 1.59%
Goodwill $174.2M $173.6M
YoY Change 278.19% 273.55%
Intangibles
YoY Change
Long-Term Investments $165.6M $210.0M
YoY Change 9.76% 43.59%
Other Assets $112.0M $93.87M
YoY Change 57.96% 42.49%
Total Long-Term Assets $1.118B $1.120B
YoY Change 33.02% 36.35%
TOTAL ASSETS
Total Short-Term Assets $2.439B $2.236B
Total Long-Term Assets $1.118B $1.120B
Total Assets $3.557B $3.356B
YoY Change 26.33% 22.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.267M $4.115M
YoY Change -68.66% 31.34%
Accrued Expenses $299.6M $261.5M
YoY Change 24.63% 2.89%
Deferred Revenue $719.6M $708.1M
YoY Change 24.44% 20.85%
Short-Term Debt $0.00 $457.2M
YoY Change
Long-Term Debt Due $457.7M
YoY Change
Total Short-Term Liabilities $1.489B $1.437B
YoY Change 77.38% 69.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $46.69M $40.11M
YoY Change 63.64% 55.65%
Total Long-Term Liabilities $46.69M $40.11M
YoY Change 63.64% 55.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.489B $1.437B
Total Long-Term Liabilities $46.69M $40.11M
Total Liabilities $1.805B $1.755B
YoY Change 10.79% 6.59%
SHAREHOLDERS EQUITY
Retained Earnings -$804.8M -$812.9M
YoY Change -0.03% 1.67%
Common Stock $2.551B $2.419B
YoY Change 27.5% 27.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.752B $1.601B
YoY Change
Total Liabilities & Shareholders Equity $3.557B $3.356B
YoY Change 26.33% 22.97%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $8.146M -$14.44M
YoY Change -249.11% -87.86%
Depreciation, Depletion And Amortization $25.01M $22.20M
YoY Change 22.0% 35.15%
Cash From Operating Activities $159.5M $117.8M
YoY Change 79.06% 53.94%
INVESTING ACTIVITIES
Capital Expenditures $34.78M $29.64M
YoY Change 22.02% 8.37%
Acquisitions
YoY Change
Other Investing Activities -$534.6M $242.8M
YoY Change -4060.02% 233.74%
Cash From Investing Activities -$569.4M $213.2M
YoY Change 3695.87% 369.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.67M 20.61M
YoY Change 16.74% 98.28%
NET CHANGE
Cash From Operating Activities 159.5M 117.8M
Cash From Investing Activities -569.4M 213.2M
Cash From Financing Activities 11.67M 20.61M
Net Change In Cash -398.2M 351.6M
YoY Change -573.44% 165.69%
FREE CASH FLOW
Cash From Operating Activities $159.5M $117.8M
Capital Expenditures $34.78M $29.64M
Free Cash Flow $124.8M $88.19M
YoY Change 105.88% 79.27%

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CapitalizedComputerSoftwareGross
257052000
CY2024Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
181463000
CY2023Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
150823000
CY2024Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
132026000
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
106229000
CY2024Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
17800000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
33800000
CY2023Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
10700000
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
20500000
hubs Increase In Future Lease Commitments
IncreaseInFutureLeaseCommitments
77200000
hubs Lessee Operating Lease Commitments Not Yet Commenced
LesseeOperatingLeaseCommitmentsNotYetCommenced
4100000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
28258000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
56432000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
51816000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
46866000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
34134000
CY2024Q2 hubs Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
162489000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
379995000
hubs Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
7300000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
500000
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
9860000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
9989000
us-gaap Operating Lease Expense
OperatingLeaseExpense
19740000
us-gaap Operating Lease Expense
OperatingLeaseExpense
22910000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
13555000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
16705000
us-gaap Operating Lease Payments
OperatingLeasePayments
29425000
us-gaap Operating Lease Payments
OperatingLeasePayments
31127000
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
1679000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
2015000
us-gaap Sublease Income
SubleaseIncome
3926000
us-gaap Sublease Income
SubleaseIncome
4042000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-6705000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
56000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
4505000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
128994000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
128003000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
240116000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
211038000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
128994000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
128003000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
240116000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
211038000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
637230000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
529138000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1254644000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1030758000
CY2024Q2 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
334292000
CY2023Q4 hubs Right Of Use Asset And Property Plant And Equipment Net
RightOfUseAssetAndPropertyPlantAndEquipmentNet
354402000
CY2023Q1 hubs Employee Reduction Percentage
EmployeeReductionPercentage
0.07
CY2024Q2 us-gaap Restructuring Charges
RestructuringCharges
1100000
us-gaap Restructuring Charges
RestructuringCharges
1900000
us-gaap Restructuring Charges
RestructuringCharges
92500000
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
0

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