HubSpot Q2 rev up 19% YoY to $760.9mln, operating margin 17.0%.

Wednesday, Aug 6, 2025 4:31 pm ET1min read

• HubSpot reports Q2 2025 revenue of $760.9 million, up 19% YoY. • Subscription revenue reaches $744.5 million, up 19% YoY. • Non-GAAP operating margin is 17.0%, down from 17.2% in Q2'24. • GAAP operating loss is $24.6 million, up from $23.9 million in Q2'24. • Professional services and other revenue reaches $16.3 million, up 21% YoY.

HubSpot (NYSE: HUBS) reported its Q2 2025 financial results, showing a mixed performance with revenue growth but a decrease in operating margins and an increase in GAAP operating loss. The company's revenue reached $760.9 million, up 19% year-over-year (YoY), with subscription revenue reaching $744.5 million, also up 19% YoY [2].

The company's non-GAAP operating margin was 17.0%, down from 17.2% in Q2 2024, while the GAAP operating loss increased to $24.6 million, up from $23.9 million in Q2 2024. Professional services and other revenue reached $16.3 million, up 21% YoY [2].

HubSpot's customer count grew to 267,982 at June 30, 2025, up 18% from June 30, 2024. However, average subscription revenue per customer declined by 1% YoY to $11,310 [2].

The company's cash balance as of June 30, 2025, was $1.9 billion, with $375.0 million available for future stock repurchases. HubSpot generated $164.4 million of cash from operating cash flow and $167.7 million of cash from non-GAAP operating cash flow during the second quarter [2].

Looking ahead, HubSpot expects total revenue for the third quarter and full year 2025 to be in the range of $785.0 million to $787.0 million and $3.080 billion to $3.088 billion, respectively, up 17% YoY in both cases [2]. The company also expects non-GAAP operating income for the third quarter and full year 2025 to be in the range of $156.0 million to $157.0 million and $568.0 million to $572.0 million, respectively [2].

Investors will be closely watching HubSpot's Q2 call on August 6, 2025, to see if management can provide a clear narrative for growth reacceleration and AI-driven leverage [1].

References:
[1] https://finance.yahoo.com/news/hubspot-q2-ai-arpu-reignite-184505153.html
[2] https://www.marketscreener.com/news/hubspot-reports-q2-2025-results-ce7c5ededb8df622

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