• Reported GAAP EPS of $1.04 up 940.00% YoY • Reported revenue of $846.75M up 20.42% YoY • HubSpot expects full year 2026 total revenue between $3.69B and $3.7B, up 18% year over year, and non-GAAP operating income from $$736M to $$740M.
Bullish
HubSpot achieved strong Q4 2025 revenue growth of 20% to $846.7 million, alongside significant non-GAAP operating margin expansion to 22.6% and 16% customer base growth.
Bearish
HubSpot's GAAP profitability remains significantly below non-GAAP, with ASRPC growth at only 3% in Q4 2025. The company also faces risks in product differentiation and macroeconomic instability.