$HUBS
HUBSPOT INC

2018 Q3 Form 10-Q Financial Statement

#000156459018028116 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $131.8M $106.5M $97.73M
YoY Change 34.89% 39.37% 38.44%
Cost Of Revenue $25.77M $21.06M $19.01M
YoY Change 35.53% 24.69% 20.23%
Gross Profit $106.1M $85.49M $78.72M
YoY Change 34.74% 43.53% 43.7%
Gross Profit Margin 80.46% 80.24% 80.55%
Selling, General & Admin $90.35M $72.60M $72.00M
YoY Change 25.49% 19.8% 36.81%
% of Gross Profit 85.19% 84.93% 91.47%
Research & Development $30.76M $22.30M $18.80M
YoY Change 63.62% 74.22% 55.37%
% of Gross Profit 29.0% 26.09% 23.88%
Depreciation & Amortization $6.000M $4.700M $4.100M
YoY Change 46.34% 46.88% 46.43%
% of Gross Profit 5.66% 5.5% 5.21%
Operating Expenses $121.1M $94.90M $90.90M
YoY Change 33.24% 29.29% 40.43%
Operating Profit -$15.05M -$9.415M -$12.18M
YoY Change 23.52% -31.99% 22.44%
Interest Expense $5.393M -$3.700M -$3.800M
YoY Change -241.92% -1333.33% -4017.53%
% of Operating Profit
Other Income/Expense, Net -$3.254M -$300.0K -$3.815M
YoY Change -14.71% 1502.94%
Pretax Income -$18.30M -$13.40M -$15.94M
YoY Change 14.82% -1.47% 56.45%
Income Tax $359.0K -$51.00M -$5.358M
% Of Pretax Income
Net Earnings -$18.66M -$11.54M -$10.58M
YoY Change 76.35% -16.59% 0.65%
Net Earnings / Revenue -14.16% -10.83% -10.83%
Basic Earnings Per Share
Diluted Earnings Per Share -$482.0K -$307.5K -$286.5K
COMMON SHARES
Basic Shares Outstanding 38.76M 37.05M
Diluted Shares Outstanding 38.76M 37.05M

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $561.3M $504.3M $491.9M
YoY Change 14.11% 339.2% 331.49%
Cash & Equivalents $96.12M $87.68M $176.7M
Short-Term Investments $465.2M $416.7M $315.1M
Other Short-Term Assets $42.00M $37.50M $30.30M
YoY Change 38.61% 63.76% 54.59%
Inventory
Prepaid Expenses
Receivables $63.10M $60.68M $48.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $666.5M $602.5M $571.0M
YoY Change 16.73% 241.84% 247.96%
LONG-TERM ASSETS
Property, Plant & Equipment $51.90M $43.29M $40.60M
YoY Change 27.83% 43.35% 40.0%
Goodwill $14.95M
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.20M $31.40M $35.70M
YoY Change -63.03% -12.04% -5.31%
Other Assets $20.80M $4.964M $9.200M
YoY Change 126.09% 281.85% 834.01%
Total Long-Term Assets $119.1M $109.7M $115.3M
YoY Change 3.3% 31.27% 37.78%
TOTAL ASSETS
Total Short-Term Assets $666.5M $602.5M $571.0M
Total Long-Term Assets $119.1M $109.7M $115.3M
Total Assets $785.6M $712.2M $686.3M
YoY Change 14.47% 174.12% 176.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.800M $4.657M $4.700M
YoY Change 87.23% 5.84% 56.46%
Accrued Expenses $42.00M $36.80M $37.40M
YoY Change 12.3% 37.83% 35.02%
Deferred Revenue $160.5M $136.9M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $211.3M $178.3M $160.6M
YoY Change 31.57% 39.97% 39.69%
LONG-TERM LIABILITIES
Long-Term Debt $313.6M $298.4M $293.6M
YoY Change 6.81% 99366.67% 146700.0%
Other Long-Term Liabilities $4.715M $3.927M $3.626M
YoY Change 30.03% 62.14% 463.04%
Total Long-Term Liabilities $4.715M $3.927M $3.626M
YoY Change 30.03% 62.14% 463.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $211.3M $178.3M $160.6M
Total Long-Term Liabilities $4.715M $3.927M $3.626M
Total Liabilities $556.2M $501.8M $477.8M
YoY Change 16.42% 255.76% 313.27%
SHAREHOLDERS EQUITY
Retained Earnings -$332.9M -$286.1M
YoY Change 16.33%
Common Stock $563.1M $496.5M
YoY Change 35.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $229.4M $210.4M $208.5M
YoY Change
Total Liabilities & Shareholders Equity $785.6M $712.2M $686.3M
YoY Change 14.48% 174.17% 176.96%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$18.66M -$11.54M -$10.58M
YoY Change 76.35% -16.59% 0.65%
Depreciation, Depletion And Amortization $6.000M $4.700M $4.100M
YoY Change 46.34% 46.88% 46.43%
Cash From Operating Activities $11.50M $14.00M $7.800M
YoY Change 47.44% 508.7% 47.17%
INVESTING ACTIVITIES
Capital Expenditures -$8.300M -$6.900M -$6.000M
YoY Change 38.33% 72.5% 62.16%
Acquisitions
YoY Change
Other Investing Activities -$8.300M -$97.50M -$3.000M
YoY Change 176.67% 24275.0% 172.73%
Cash From Investing Activities -$16.60M -$104.4M -$9.000M
YoY Change 84.44% 2327.91% 80.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.000M 1.100M 1.600M
YoY Change 87.5% -35.29% -30.43%
NET CHANGE
Cash From Operating Activities 11.50M 14.00M 7.800M
Cash From Investing Activities -16.60M -104.4M -9.000M
Cash From Financing Activities 3.000M 1.100M 1.600M
Net Change In Cash -2.100M -89.30M 400.0K
YoY Change -625.0% 29666.67% -84.62%
FREE CASH FLOW
Cash From Operating Activities $11.50M $14.00M $7.800M
Capital Expenditures -$8.300M -$6.900M -$6.000M
Free Cash Flow $19.80M $20.90M $13.80M
YoY Change 43.48% 231.75% 53.33%

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CashAndCashEquivalentsAtCarryingValue
176743000
CY2018Q3 us-gaap Restricted Cash
RestrictedCash
5175000
CY2017Q3 us-gaap Restricted Cash
RestrictedCash
5106000
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
4757000
CY2018Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
450000
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
347000
CY2018Q3 us-gaap Restricted Cash Asset Statement Of Financial Position Extensible List
RestrictedCashAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2017Q4 us-gaap Restricted Cash Asset Statement Of Financial Position Extensible List
RestrictedCashAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
82902000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
65520000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
118700000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
35464000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
5156000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
219485000
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
71000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22226000
CY2018Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3200000
CY2017Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2600000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
9300000
CY2018Q3 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
43320000
CY2017Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
33360000
CY2017Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
24600000
CY2018Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1613000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1020000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
594000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
494000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
54000
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
800000
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3112000
CY2018Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1807000
CY2018Q3 hubs Finite Lived Intangible Assets Future Amortization Expense
FiniteLivedIntangibleAssetsFutureAmortizationExpense
5719000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
5554000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
25942000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
33179000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
36057000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
355681000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
9016000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
37067000
hubs Cumulative Adjustment From Adoption Of Revenue Recognition Standard
CumulativeAdjustmentFromAdoptionOfRevenueRecognitionStandard
5526000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-422000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-235000
us-gaap Net Income Loss
NetIncomeLoss
-33673000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
227639000
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
359000
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20133000
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-126000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
23132000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
564000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
34000
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
73713000
us-gaap Net Income Loss
NetIncomeLoss
-17596000
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
203703000
CY2017Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2543000
CY2017Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12524000
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
319000
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
30000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
208536000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
20000
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
56000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-712000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19612000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12110000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
55334000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34419000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1

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