Companies · HUBS
HubSpot
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Nov 4, 2026
HubSpot Q3 2026: AI-driven demand headwinds deepen as agent adoption accelerates but buying cycles lengthen and NRR slips to 101%
HubSpot's Q3 2026 results reveal a company in deliberate transition: revenue grew 17% year-over-year in constant currency while net revenue retention declined to 101% and net new ARR is now expected to decline year-over-year in fiscal 2026 — the clearest signal yet that near-term monetization is being sacrificed for long-term AI platform positioning. Agent trials grew 64% quarter-over-quarter and monthly credit consumption is up nearly 2.5x since the start of the year, confirming product-side momentum, but conversion from trial to paid remains the critical bottleneck. Management is making deliberate structural choices — pricing simplification, expanded seats-and-credits pilots, and a go-to-market reorganization — that extend the revenue trough but are designed to build a higher-retention, higher-consumption customer base.
Tone: cautiousRevenue
$3.1B
HUBS 10-K · FY 2025
Employees
8,882
Revenue growth YoY
+19%
Founded
2005
Profile
HUBS 10-K Item 1 · Feb 11, 2026HubSpot provides an AI-powered agentic customer platform serving mid-market B2B companies across marketing, sales, customer service, operations, content, and commerce functions. The platform combines AI-driven engagement hubs, a Smart CRM, and a connected ecosystem of integrations and partners. The company operates on a subscription model and generated $3.1 billion in total revenue in fiscal year 2025.
Read filing description ↓ Collapse description ↑
We provide an agentic customer platform that helps marketing, sales, and customer service teams drive business growth. We deliver seamless connection for customer-facing teams with a unified platform that includes three layers: Artificial Intelligence ('AI')-powered agents and engagement hubs, a Smart customer relationship management product ('CRM'), and a connected ecosystem supporting the customer platform with a marketplace of integrations, templates, expert partners, a community network, and an academy of educational content. Our AI-powered agents and engagement Hubs that enable companies to attract, engage, and delight customers throughout the customer lifecycle include Marketing, Sales, Service, Operations, Content and Commerce. The Smart CRM is the foundational context layer that combines customer data with AI to power the entire customer platform with unified customer profiles and tools to manage and govern your team and business processes. We focus on selling to mid-market business-to-business ('B2B') companies, which we define as companies that have between 2 and 2,000 employees, and aim to be the best at applying AI to help them grow. We primarily sell our customer platform on a subscription basis. In 2025, our total revenue was $3.1 billion and we generated a net income of $45.9 million. As of December 31, 2025, we had 8,882 full-time employees and 288,706 Customers, as defined in our Key Business Metrics in Item 7, of varying sizes in more than 135 countries.
Primary products
- Smart CRM
- Breeze
- Marketing Hub
- Sales Hub
- Service Hub
- Content Hub
Business segments
End markets
Geographies
Named customers
No single customer represented more than ten percent of our revenue in 2025, 2024, or 2023.
“We believe we compete favorably with respect to all of these factors.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased to $3.1 billion in 2025 from $2.6 billion in 2024, representing a year-over-year increase of 19%.
The rest of HUBS is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.