HubSpot Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>HubSpot Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and position.</b>

AI Summary

HUBSPOT INC (HUBS) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. HubSpot Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers financial information for the first quarter of 2024. Key financial statement items like Retained Earnings and Additional Paid-In Capital are detailed. The report includes data on various asset and liability accounts, including investments and debt. Information on stock-based compensation and restructuring charges is also presented.

Why It Matters

For investors and stakeholders tracking HUBSPOT INC, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of HubSpot Inc., crucial for understanding recent performance and trends. The detailed breakdown of assets, liabilities, and equity offers insights into the company's financial health and operational activities during the first quarter.

Risk Assessment

Risk Level: low — HUBSPOT INC shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess HubSpot's revenue growth, profitability, and cash flow trends for Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-10 — Filing Date (Filed as of Date)
• 1231 — Fiscal Year End (Fiscal Year End)
• 7372 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• HUBSPOT INC (company) — Filer
• 2024-03-31 (date) — Period of Report
• 2024-05-10 (date) — Filed as of Date
• 0000950170-24-057772 (filing_id) — Accession Number
• CAMBRIDGE (location) — Business Address City
• MA (location) — Business Address State
• 02141 (postal_code) — Business Address Zip
• DE (location) — State of Incorporation

FAQ

Industry Context

HubSpot operates in the software industry, specifically focusing on CRM and marketing automation platforms.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the balance sheet for changes in cash, investments, and debt.
2. Review the statement of operations for revenue trends and profitability metrics.
3. Examine disclosures related to financial instruments and fair value measurements.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share HUBS New York Stock Excha

Filing Documents

• hubs-20240331.htm (10-Q) — 2328KB
• hubs-ex31_1.htm (EX-31.1) — 16KB
• hubs-ex31_2.htm (EX-31.2) — 16KB
• hubs-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-24-057772.txt (&nbsp;) — 9757KB
• hubs-20240331.xsd (EX-101.SCH) — 1336KB
• hubs-20240331_htm.xml (XML) — 1906KB

— Financial Information

Part I — Financial Information Item 1. Unaudited Consolidated Financial Statements: Unaudited Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 6 Unaudited Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 7 Unaudited Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 8 Unaudited Consolidated Statement of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 9 Unaudited Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 10 Notes to Unaudited Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

— Other Information

Part II — Other Information Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60 Item 3. Default Upon Senior Securities 61 Item 4. Mine Safety Disclosures 61 Item 5. Other Information 61 Item 6. Exhibits 62

Signatures

Signatures 63 EX-31.1 CERTIFICATION OF THE CEO PURSUANT TO SECTION 302 EX-31.2 CERTIFICATION OF THE CFO PURSUANT TO SECTION 302 EX-32.1 CERTIFICATION OF THE CEO AND CFO PURSUANT TO SECTION 906 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q are forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: our future financial and operational performance, including our expectations regarding our revenue, cost of revenue, gross margin and operating expenses; maintaining and expanding our customer base and increasing our average subscription revenue per customer; the impact of competition in our industry and innovation by our competitors, including as a result of new or better use of evolving artificial intelligence technologies; our anticipated growth and expectations regarding our ability to manage our future growth; our expectations regarding the potential impact of geo-political conflicts, inflationary pressures, foreign currency movement, macroeconomic stability, and

— Financi al Information

PART I — Financi al Information

Financi al Statements

Item 1. Financi al Statements HubSpot, Inc. Unaudited Consolida ted Balance Sheets (in thousands) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 447,793 $ 387,987 Short-term investments 1,070,872 1,000,245 Accounts receivable — net of allowance for doubtful accounts of $ 4,937 at March 31, 2024 and $ 5,516 at December 31, 2023 266,862 295,303 Deferred commission expense 107,424 99,326 Prepaid expenses and other current assets 92,301 88,679 Total current assets 1,985,252 1,871,540 Long-term investments 311,526 325,703 Property and equipment, net 103,362 103,331 Capitalized software development costs, net 119,554 106,229 Right-of-use assets 243,279 251,071 Deferred commission expense, net of current portion 128,580 122,194 Other assets 88,058 75,247 Intangible assets, net 39,825 42,316 Goodwill 173,667 173,761 Total assets $ 3,193,103 $ 3,071,392 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 7,928 $ 9,106 Accrued compensation costs 68,752 53,462 Accrued commissions 67,355 78,169 Accrued expenses and other current liabilities 85,852 94,074 Operating lease liabilities 32,869 35,047 Deferred revenue 696,878 672,150 Total current liabilities 959,634 942,008 Operating lease liabilities, net of current portion 284,489 296,561 Deferred revenue, net of current portion 4,916 5,810 Other long-term liabilities 38,243 36,459 Convertible senior notes 456,704 456,206 Total liabilities 1,743,986 1,737,044 Commitments and contingencies (Note 10) Stockholders' equity: Common stock 51 50 Additional paid-in capital 2,250,549 2,136,908 Accumulated other comprehensive loss ( 2,980 ) 1,827 Accumulated deficit ( 798,503 ) ( 804,437 ) Total stockholders' equity 1,449,117 1,334,348 Total lia

View Full Filing

View this 10-Q filing on SEC EDGAR