HubSpot shares fall 8.7% after hours despite Q3 profit beat

HubSpot (HUBS) reported third-quarter 2026 revenue of $947.6 million, up 17% from a year earlier, and adjusted earnings of $3.81 per share, topping the $3.34 consensus estimate. Revenue was in line with the $943.28 million consensus estimate.

Shares fell 8.7% in after-hours trading as of 5:36 p.m. ET, from a regular-session close of $216.47.

The company said in its press release that the results covered the quarter ended Sept. 30. HubSpot is the agentic customer platform for scaling businesses, according to the release.

Here's how the company did:

• Adjusted EPS: $3.81 vs. $3.34 consensus estimate
• Revenue: $947.6 million vs. $943.28 million consensus estimate, up 17% from $809.5 million a year earlier
• GAAP net income: $83.0 million, or $1.67 per diluted share, vs. $16.5 million, or $0.31 a year earlier
• Non-GAAP operating income: $214.2 million, up 33%

Revenue and customers

Subscription revenue was $930.2 million, up 18% on an as-reported basis. Professional services and other revenue was $17.3 million, down 3%.

The company grew its customer count to 311,704 as of Sept. 30, up 12%. Average subscription revenue per customer was $12,038, up 4% on an as-reported basis.

Calculated billings were $924.9 million, up 15% on an as-reported basis and in constant currency.

Revenue has risen in each of the last three quarters, from $809.5 million in the third quarter of 2025 to $911.7 million in the second quarter of 2026, according to its SEC filings.

CEO Yamini Rangan said the company is "transforming our product, pricing, go-to-market, and how we operate to capture this opportunity, and we made meaningful progress across these areas this quarter."

2026 guidance

For the fourth quarter, the company expects revenue of $945.0 million to $947.0 million, up 12% year over year on an as-reported basis and in constant currency.

It expects non-GAAP operating income of $216.0 million to $217.0 million and non-GAAP net income per share of $3.85 to $3.87, on about 48.9 million weighted average diluted shares.

For the full year, the company expects revenue of $3.685 billion to $3.687 billion, up 18% as reported and 16% in constant currency. It expects non-GAAP operating income of $772.0 million to $773.0 million and non-GAAP net income per share of $13.59 to $13.61.

The company expects restructuring charges of $65 million to $75 million under its 2026 Restructuring Plan, with the majority incurred in the fourth quarter.

Cash and buybacks

The company repurchased $237.2 million of its common stock during the third quarter. It generated $238.0 million in operating cash flow and ended the period with $1.3 billion in cash, cash equivalents and investments.