HubSpot Inc. Files Q3 2024 10-Q

TL;DR

HUBS Q3 2024 10-Q filed. Check financials.

AI Summary

HubSpot Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers financial performance and operational details for the third quarter of 2024. Key financial data and disclosures relevant to investors are included.

Why It Matters

This filing provides investors with the official financial results and disclosures for HubSpot's third quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks or opportunities impacting the company's stock.

Key Players & Entities

• HUBSPOT INC (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Filing date
• CAMBRIDGE (location) — City of HubSpot's business address
• DE (location) — State of incorporation

FAQ

Key Financial Figures

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

Filing Documents

• hubs-20240930.htm (10-Q) — 2932KB
• hubs-ex10_1.htm (EX-10.1) — 498KB
• hubs-ex10_2.htm (EX-10.2) — 25KB
• hubs-ex31_1.htm (EX-31.1) — 17KB
• hubs-ex31_2.htm (EX-31.2) — 17KB
• hubs-ex32_1.htm (EX-32.1) — 15KB
• 0000950170-24-122373.txt ( ) — 11734KB
• hubs-20240930.xsd (EX-101.SCH) — 1450KB
• hubs-20240930_htm.xml (XML) — 2074KB

— Financial Information

Part I — Financial Information Item 1. Unaudited Consolidated Financial Statements: Unaudited Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 6 Unaudited Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 7 Unaudited Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 8 Unaudited Consolidated Statement of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 9 Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 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 35 Item 4.

Controls and Procedures

Controls and Procedures 36

— Other Information

Part II — Other Information Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63 Item 3. Default Upon Senior Securities 63 Item 4. Mine Safety Disclosures 63 Item 5. Other Information 63 Item 6. Exhibits 64

Signatures

Signatures 65 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 410,060 $ 387,987 Short-term investments 1,527,928 1,000,245 Accounts receivable — net of allowance for doubtful accounts of $ 5,357 at September 30, 2024 and $ 5,516 at December 31, 2023 278,893 295,303 Deferred commission expense 135,116 99,326 Prepaid expenses and other current assets 86,704 88,679 Total current assets 2,438,701 1,871,540 Long-term investments 165,623 325,703 Property and equipment, net 110,950 103,331 Capitalized software development costs, net 144,829 106,229 Right-of-use assets 225,922 251,071 Deferred commission expense, net of current portion 149,619 122,194 Other assets 112,045 75,247 Intangible assets, net 35,211 42,316 Goodwill 174,158 173,761 Total assets $ 3,557,058 $ 3,071,392 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,267 $ 9,106 Accrued compensation costs 83,602 53,462 Accrued commissions 88,418 78,169 Accrued expenses and other current liabilities 99,358 94,074 Operating lease liabilities 34,630 35,047 Convertible senior notes 457,674 — Deferred revenue 719,595 672,150 Total current liabilities 1,488,544 942,008 Operating lease liabilities, net of current portion 265,706 296,561 Deferred revenue, net of current portion 4,232 5,810 Other long-term liabilities 46,694 36,459 Convertible senior notes — 456,206 Total liabilities 1,805,176 1,737,044 Commitments and contingencies (Note 10) Stockholders' equity: Common stock 51 50 Additional paid-in capital 2,550,974 2,136,908 Accumulated other comprehensive income 5,649 1,827 Accumulated deficit ( 804,792 ) ( 804,437 ) Total stockholders'

View Full Filing

View this 10-Q filing on SEC EDGAR