HubSpot Q3 Earnings Highlights: EPS Beat, Revenue Up 26%, Customers Jump 22% And More
HubSpot Inc (NYSE: HUBS) shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results.
Q3 Revenue: $557.6 million beat estimates of $534.11 million
Q3 EPS: $1.59 beat estimates of $1.24
Total revenues were up 26% year-over-year. Subscription revenues climbed 25%, and professional services and other revenue increased 31%.
Customer count grew 22% year-over-year to 194,098. Average subscription revenue per customer was $11,520, up 3% year-over-year.
HubSpot said it generated $93.3 million in operating cash flow and $64.7 million in free cash flow during the third quarter. The customer platform company ended the quarter with $1.7 billion in cash, equivalents and short- and long-term investments.
"Our easy-to-use, easy-to-scale connected customer platform is deeply resonating with SMBs as they look to optimize spend and boost productivity in this challenging environment. Looking ahead, we will remain focused on driving outsized value for our customers to drive durable and profitable growth for many years to come," said Yamini Rangan, CEO of HubSpot.
Outlook: HubSpot expects fourth-quarter revenue to be between $556 million and $558 million. Full-year revenue is expected to be in the range of $2.144 billion and $2.146 billion.
The company sees fourth-quarter adjusted earnings of $1.53 to $1.55 per share. Full-year adjusted earnings are expected to be between $5.66 and $5.68 per share.
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HUBS Price Action: HubSpot shares were up 6.36% after hours at $470.26 at the time of publication, per Benzinga Pro.
Photo: courtesy of Hubspot.
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