HubSpot’s Q4 results were shaped by strong demand for its customer platform and continued growth among upmarket clients. Management highlighted that multihub adoption and the ramp-up of AI-powered solutions, particularly customer-facing agents, played central roles in driving customer additions and higher engagement. CEO Yamini Rangan pointed to accelerated adoption of HubSpot’s new pricing model and increased seat purchases as further contributors to quarterly momentum, noting, “We saw customers buy more Sales Hub seats, Service Hub seats, and Core Seats throughout the year.”
Is now the time to buy HUBS? Find out in our full research report (it’s free for active Edge members).
HubSpot (HUBS) Q4 CY2025 Highlights:
- Revenue: $846.7 million vs analyst estimates of $829.9 million (20.4% year-on-year growth, 2% beat)
- Adjusted EPS: $3.09 vs analyst estimates of $2.99 (3.4% beat)
- Adjusted Operating Income: $191 million vs analyst estimates of $183.9 million (22.6% margin, 3.9% beat)
- Revenue Guidance for Q1 CY2026 is $862.5 million at the midpoint, above analyst estimates of $838.2 million
- Adjusted EPS guidance for the upcoming financial year 2026 is $12.42 at the midpoint, beating analyst estimates by 8.3%
- Operating Margin: 5.7%, up from -1.5% in the same quarter last year
- Annual Recurring Revenue: $3.32 billion vs analyst estimates of $3.33 billion (20.6% year-on-year growth, in line)
- Billings: $971.4 million at quarter end, up 26.6% year on year
- Market Capitalization: $13.04 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From HubSpot’s Q4 Earnings Call
-
Samad Saleem Samana (Jefferies) questioned HubSpot’s defensibility against AI disruption and third-party agents. CEO Yamini Rangan responded that HubSpot’s platform provides unique customer context, enabling actionable AI outcomes, and emphasized the importance of platform-driven logic and governance over raw data transfer.
-
Jackson Edmund Ader (KeyBanc Capital Markets) asked about the disconnect between net new ARR growth and revenue guidance. CFO Kathryn A. Bueker explained that leading indicators support confidence in reaccelerating growth, with guidance structured for prudence early in the year and anticipated acceleration through 2026.
-
Aleksandr J. Zukin (Wolfe Research) inquired about monetization strategies in an ecosystem of third-party agents and agent networks. Rangan described an open but metered platform, stating high-frequency access will be monitored and monetized, especially as credit consumption for AI agents increases.
-
Taylor Anne McGinnis (UBS) pressed for clarity on pricing versus seat and credit expansion as drivers of growth. Bueker noted that seat upgrades across Sales, Service, and Core Seats—not price increases—drove most net revenue retention gains, with credits becoming an emerging contributor.
-
Damian Koggan (Barclays) asked about the impact of channel diversification on top-of-funnel growth as SEO traffic declines. Rangan highlighted that efforts in YouTube, newsletters, and AI-enabled optimization are driving customer additions and supporting continued momentum despite search-related challenges.
Catalysts in Upcoming Quarters
In the coming quarters, the StockStory team will watch (1) the pace of AI agent adoption and the scaling of credit-based monetization, (2) cross-sell and multihub expansion rates among both new and existing customers, and (3) the company’s ability to sustain upmarket gains and maintain high net revenue retention. The impact of channel diversification and execution of new product rollouts will also be key metrics to track.
HubSpot currently trades at $246.50, up from $209.33 just before the earnings. Is there an opportunity in the stock?See for yourself in our full research report (it’s free).
High-Quality Stocks for All Market Conditions
The market’s up big this year - but there’s a catch. Just 4 stocks account for half the S&P 500’s entire gain. That kind of concentration makes investors nervous, and for good reason. While everyone piles into the same crowded names, smart investors are hunting quality where no one’s looking - and paying a fraction of the price. Check out the high-quality names we’ve flagged in our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 244% over the last five years (as of June 30, 2025).
Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
