$HUBS
HUBSPOT INC

2014 Q4 Form 10-Q Financial Statement

#000119312514411203 Filed on November 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $34.16M $30.45M $20.18M
YoY Change 52.63% 50.89%
Cost Of Revenue $9.929M $9.205M $7.382M
YoY Change 26.16% 24.7%
Gross Profit $24.23M $21.24M $12.80M
YoY Change 66.99% 66.0%
Gross Profit Margin 70.93% 69.77% 63.42%
Selling, General & Admin $33.00M $26.84M $18.03M
YoY Change 61.76% 48.91%
% of Gross Profit 136.21% 126.36% 140.86%
Research & Development $11.10M $4.858M $4.271M
YoY Change 177.5% 13.74%
% of Gross Profit 45.81% 22.87% 33.38%
Depreciation & Amortization $900.0K $702.0K $1.200M
YoY Change -30.77% -41.5%
% of Gross Profit 3.71% 3.3% 9.38%
Operating Expenses $44.20M $31.70M $22.30M
YoY Change 81.15% 42.17%
Operating Profit -$19.97M -$10.46M -$9.500M
YoY Change 101.92% 10.07%
Interest Expense $0.00 $138.0K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $200.0K $164.0K -$11.00K
YoY Change -1590.91%
Pretax Income -$19.80M -$10.80M -$9.500M
YoY Change 135.71% 13.68%
Income Tax -$100.0K $0.00 $0.00
% Of Pretax Income
Net Earnings -$19.70M -$10.79M -$9.511M
YoY Change 133.79% 13.48%
Net Earnings / Revenue -57.67% -35.45% -47.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$619.5K -$343.9K -$312.5K
COMMON SHARES
Basic Shares Outstanding 31.39M shares 5.874M shares 5.141M shares
Diluted Shares Outstanding 5.874M shares 5.141M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.7M $12.40M
YoY Change 881.75%
Cash & Equivalents $123.7M $12.38M
Short-Term Investments
Other Short-Term Assets $11.50M $9.100M
YoY Change 30.68%
Inventory
Prepaid Expenses
Receivables $14.27M $10.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $149.5M $32.01M
YoY Change 421.21%
LONG-TERM ASSETS
Property, Plant & Equipment $11.38M $9.874M
YoY Change 57.13%
Goodwill $9.330M $9.330M
YoY Change 0.0%
Intangibles $89.00K $102.0K
YoY Change -39.46%
Long-Term Investments
YoY Change
Other Assets $116.0K $2.579M
YoY Change 78.46%
Total Long-Term Assets $25.35M $26.93M
YoY Change 15.89%
TOTAL ASSETS
Total Short-Term Assets $149.5M $32.01M
Total Long-Term Assets $25.35M $26.93M
Total Assets $174.9M $58.94M
YoY Change 245.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.800M $2.187M
YoY Change 9.93%
Accrued Expenses $15.60M $13.40M
YoY Change 27.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K
YoY Change 0.0%
Total Short-Term Liabilities $59.43M $49.93M
YoY Change 50.28%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $18.10M
YoY Change -50.0%
Other Long-Term Liabilities $4.700M $4.600M
YoY Change 67.86%
Total Long-Term Liabilities $4.800M $22.70M
YoY Change 60.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.43M $49.93M
Total Long-Term Liabilities $4.800M $22.70M
Total Liabilities $64.16M $72.68M
YoY Change 50.91%
SHAREHOLDERS EQUITY
Retained Earnings -$154.3M -$134.6M
YoY Change 45.47%
Common Stock $265.1M $6.000K
YoY Change 5302800.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $110.7M -$115.1M
YoY Change
Total Liabilities & Shareholders Equity $174.9M $58.94M
YoY Change 245.85%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$19.70M -$10.79M -$9.511M
YoY Change 133.79% 13.48%
Depreciation, Depletion And Amortization $900.0K $702.0K $1.200M
YoY Change -30.77% -41.5%
Cash From Operating Activities -$1.800M -$5.800M -$6.500M
YoY Change -69.49% -10.77%
INVESTING ACTIVITIES
Capital Expenditures -$2.100M -$2.500M -$2.000M
YoY Change 5.0% 25.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$2.100M -$2.500M -$2.000M
YoY Change 5.0% 25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 115.4M 13.50M 100.0K
YoY Change 38366.67% 13400.0%
NET CHANGE
Cash From Operating Activities -1.800M -5.800M -6.500M
Cash From Investing Activities -2.100M -2.500M -2.000M
Cash From Financing Activities 115.4M 13.50M 100.0K
Net Change In Cash 111.5M 5.200M -8.400M
YoY Change -1567.11% -161.9%
FREE CASH FLOW
Cash From Operating Activities -$1.800M -$5.800M -$6.500M
Capital Expenditures -$2.100M -$2.500M -$2.000M
Free Cash Flow $300.0K -$3.300M -$4.500M
YoY Change -107.69% -26.67%

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dei Entity Registrant Name
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HubSpot Inc
dei Trading Symbol
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dei Current Fiscal Year End Date
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On September 25, 2014, the Company’s Board of Directors approved a 1-for-3 reverse stock split of the Company’s common stock. The reverse stock split became effective on September 25, 2014. Upon the effectiveness of the reverse stock split, (i) every three shares of outstanding common stock was combined into one share of common stock, (ii) the number of shares of common stock into which each outstanding warrant or option to purchase common stock is exercisable was proportionally decreased, (iii) the exercise price of each outstanding warrant or option to purchase common stock was proportionately increased, and (iv) the conversion ratio for each share of preferred stock outstanding was proportionately reduced.
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CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5141000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5141000 shares
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.85
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5141000 shares
CY2013Q3 us-gaap Gross Profit
GrossProfit
12797000
CY2013Q3 us-gaap Subscription Revenue
SubscriptionRevenue
18416000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9532000
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-21000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-18000
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-9500000
CY2013Q3 us-gaap Revenues
Revenues
20179000
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9524000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-9511000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
7000
CY2013Q3 us-gaap Technology Services Revenue
TechnologyServicesRevenue
1763000
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
821000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
22297000
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4271000
CY2013Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14739000
CY2013Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
13000
CY2013Q3 us-gaap Cost Of Revenue
CostOfRevenue
7382000
CY2013Q3 us-gaap Cost Of Goods Sold Subscription
CostOfGoodsSoldSubscription
5114000
CY2013Q3 us-gaap Technology Services Costs
TechnologyServicesCosts
2268000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3287000
CY2013Q3 hubs Capitalized Software Development Costs Excluded From Stock Based Compensation
CapitalizedSoftwareDevelopmentCostsExcludedFromStockBasedCompensation
71000
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5874000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5874000 shares
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.84
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5874000 shares
CY2014Q3 us-gaap Gross Profit
GrossProfit
20743000
CY2014Q3 us-gaap Subscription Revenue
SubscriptionRevenue
27806000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10818000
CY2014Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-25000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
164000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
302000
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-10957000
CY2014Q3 us-gaap Revenues
Revenues
30448000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10806000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-10793000
CY2014Q3 us-gaap Technology Services Revenue
TechnologyServicesRevenue
2642000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1266000
CY2014Q3 us-gaap Interest Expense
InterestExpense
138000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
31700000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4858000
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21680000
CY2014Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
13000
CY2014Q3 us-gaap Cost Of Revenue
CostOfRevenue
9705000
CY2014Q3 us-gaap Cost Of Goods Sold Subscription
CostOfGoodsSoldSubscription
6736000
CY2014Q3 us-gaap Technology Services Costs
TechnologyServicesCosts
2969000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5162000
CY2014Q3 hubs Capitalized Software Development Costs Excluded From Stock Based Compensation
CapitalizedSoftwareDevelopmentCostsExcludedFromStockBasedCompensation
83000

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