HubSpot, Inc. (HUBS) Announced Q1 2026 Earnings on May 7, 2026, Reporting Q1 revenue grew 23% year-over-year as reported

HubSpot, Inc. reported financial results for the first quarter of 2026, noting that "Q1 revenue grew 23% year-over-year as reported and 18% in constant currency." For the first quarter, "Non-GAAP operating margin was 18%", and "GAAP operating margin was 3% in Q1." Management stated "Non-GAAP net income was $143 million, and non-GAAP net income per diluted share was $2.72" for the first quarter.

Additionally, "in the first quarter, the company generated $154 million of free cash flow or 17% of revenue."Management highlighted strong customer growth, noting that "total customer count reached nearly 300,000 globally, driven by 10,800 net customer additions in the quarter." Executive Yamini Rangan shared upmarket momentum figures for the quarter, stating that "deals over 60,000 annual recurring revenue grew 37% year-over-year and deals over 120,000 ARR grew 64% year-over-year." Regarding AI adoption, Rangan stated that "Active core seat users grew 90% year-over-year" and "Total credits consumed grew 67% quarter-over-quarter." Management also shared that "Nearly 14,000 customers have activated" the Prospecting Agent and "Over 9,000 customers have activated data agent."The company announced packaging and pricing shifts, "moving to outcome-based pricing for customer and prospecting agents and introducing 28-day free trials for our agents and HubSpot AEO." On the corporate and product front, the company noted it "launched HubSpot AEO at Spring spotlight" to help marketers see how their brand appears in AI tools, and highlighted inorganic demand generation investments, having "bought 2 incremental acquisitions in Q1, starter story and future PDS."Looking ahead, CFO Kathryn Bueker provided forward guidance for the second quarter of 2026, stating "total as reported revenue is expected to be in the range of $897 million to $898 million", with "Non-GAAP operating income is expected to be between $173 million and $174 million" for the second quarter.

For the full year of 2026, "total as reported revenue is now expected to be in the range of $3.7 billion to $3.708 billion", and "Non-GAAP operating income is now expected to be in the range of $762 million to $766 million."