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HubSpot HUBS Subscription And Circulation — Cost of Goods Sold

Other product segments

Service
$14.92M-3.7%

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Other financials

Income statement

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Revenue$911.7M+19.8%
Gross profit$750.9M+17.6%
Operating income$43.3M+276%
Net income$43.3M+1,430%
EPS (diluted)$0.86+1,533%

Balance sheet

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Cash & equivalents$958.3M+59.4%
Total debt$236.9M-15.5%
Total equity$1.7B-19.8%
Total assets$3.5B-4.9%

Cash flow

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Operating cash flow$222.8M+35.5%
CapEx$19.7M+22.6%
Free cash flow$203.1M+36.9%

Valuation

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Market cap$12.81B-50.7%
Enterprise value$12.09B-52.9%
P/E87.2×
P/S3.7×-5.4×

Profitability

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Gross margin83.2%-1.3pp
Operating margin3.8%+2.7pp
Net margin4.3%+3.9pp
FCF margin23.1%+1.1pp

Returns & leverage

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Return on equity7.9%+7.3pp
Debt / equity0.1×0.0×
Current ratio1.4×-0.4×

Where this comes from

Reported directly by HubSpot in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: HubSpot’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:25 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-335232
Line itemFor the Three Months Ended June 30, 2026For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2026For the Six Months Ended June 30, 2025
Professional services and other17,71516,33436,44631,743
Total revenue911,740760,8661,792,7351,475,003
Cost of revenues:
Subscription145,957106,670274,681206,900
Professional services and other14,92215,49131,89130,368
Total cost of revenues160,879122,161306,572237,268
Gross profit750,861638,7051,486,1631,237,735
Operating expenses:

Item 1. Financial Statements

FAQ

What is HubSpot's subscription and circulation — cost of goods sold?
HubSpot (HUBS) reported subscription and circulation — cost of goods sold of $145.96M in Q2 2026.
How has HubSpot's subscription and circulation — cost of goods sold changed year-over-year?
HubSpot's subscription and circulation — cost of goods sold increased by 36.8% year-over-year, from $106.67M to $145.96M.
What is the long-term trend for HubSpot's subscription and circulation — cost of goods sold?
Over 4 years (2021 to 2025), HubSpot's subscription and circulation — cost of goods sold has grown at a 20.5% compound annual growth rate (CAGR), from $211.13M to $445.34M.
What does subscription and circulation — cost of goods sold mean?
This metric captures the direct costs associated with delivering the company's subscription software services to customers. It typically includes expenses such as hosting infrastructure, customer support, and the maintenance of the cloud platform. Monitoring this cost is essential for evaluating the gross margin efficiency of the subscription business segment.

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