Slide 1: Investor Presentation Q2 2026
Investor Presentation. Q2 2026
Slide 2: Safe Harbor
Safe Harbor This presentation includes certain “forward-looking statements” within the meaning of and will be affected by a variety of risks and factors that are beyond our control the Private Securities Litigation Reform Act of 1995, including statements regarding including, without limitation, ris
Slide 3: Where we're heading
Where we’re heading Be the #1 agentic customer platform for scaling companies. 3
Slide 4: SaaS to Agentic
SaaS Agentic Action Hubs Hubs and agents Coordination Across teams Across humans and agents Structured, unstructured, Context Structured data and external signals 4
Slide 5: Powerful on its own and even stronger together
Action: Where work gets done Powerful on its own and even Coordination: Where humans and agents collaborate stronger together. Context: Where customer understanding lives 5
Slide 6: The Agentic Customer Platform
Action: Where work gets done Hubs Breeze Agents Breeze Assistant What HubSpot is Building Coordination: Where humans and agents collaborate The Agentic Agent Management Connected Systems Unified Governance Customer Platform. Context: Where customer understanding lives Smart CRM Customer Data Business
Slide 7: HubSpot's Platform Journey
HubSpot’s Platform Journey Marketing App to Agentic Customer Platform Revenue Futurepedia CRM $3B Acquisition Starter Story Operations Hub Acquisition $2B XFunnel Acquisition CMS Hub Dashworks Acquisition Frame AI $1B Acquisition Performable Acquisition Cacheflow Acquisition $500M $250M Clearbit $100
Slide 8: We are positioned for long-term durable growth
Current growth levers delivering results Multi-hub and larger deals upmarket We are Downmarket acquisition velocity Platform value resulting in strong retention positioned for long-term Emerging growth levers traction durable growth. Executing well on pricing model changes Delivering clear AI value
Slide 9: Financial Overview
Financial Overview.
Slide 10: Q2 2026 Financial Summary
Q2 2026 Financial Summary Quarterly Increase Currency Tailwind Constant Q2 2026 Actuals Results (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $912m 19.8% 2.3 pts 17.5% Subscription Revenue $894m 20.1% – – Professional Services & Other Revenue $18m 8.5% – – Gross Profit1 $766m 17.7% – – Gross
Slide 11: Q3 2026 Guidance Summary
Q3 2026 Guidance Summary Currency Quarterly Increase Tailwind Constant Q3 2026 Guidance Guidance (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $924m – $925m 14.2% (0.4 pts) 14.6% Operating Profit1 $187m – $188m 16.1% – – Operating Profit Margin1 20.2% - 20.3% 0.3 pts (0.3 pts) 0.6 pts Net inc
Slide 12: Full Year 2026 Guidance Summary
Full Year 2026 Guidance Summary Full Year Increase Currency Tailwind Constant Full Year 2026 Guidance Guidance (Decrease) Y/Y2 (Headwind) Currency Y/Y3 Total Revenue $3,678m – $3,686m 17.6% 1.5 pts 16.1% Operating Profit1 $762m – $766m 31.3% – – Operating Profit Margin1 20.7% – 20.8% 2.2 pts 0.2 pts 2
Slide 13: Consistent Revenue Growth
Consistent Revenue Growth $912m 28% CAGR1 Q2’19 → Q2’26 $163m Q2 2019 Quarterly Revenue Q2 2026 1 CAGR = Compound Annual Growth Rate. Revenue CAGR based on as-reported results 13 and includes the impact from currency.
Slide 14: Consistent Customer Growth
Consistent Customer Growth 306k 25% CAGR1 Q2’19 → Q2’26 65k Q2 2019 Quarterly Customer Count Q2 2026 14 1 CAGR = Compound Annual Growth Rate.
Slide 15: Substantial Operating Profit Growth
Substantial Operating Profit Growth $185m 45% CAGR1 Q2’19 → Q2’26 $14m Q2 2019 Quarterly Operating Profit Q2 2026 1 CAGR = Compound Annual Growth Rate. Operating profit and operating profit margin are non-GAAP metrics. Please refer to the appendix 15 for a reconciliation of GAAP to non-GAAP figures.
Slide 16: Strong Free Cash Flow & Balance Sheet Position
Strong Free Cash Flow & Balance $678m Sheet Position $1.4B Cash and marketable securities 20% Margin $62m FCF, TTM Q2’26 Q2 2019 Trailing Twelve Month Free Cash Flow Q2 2026 1 Free cash flow (FCF) and free cash flow margin are non-GAAP metrics. Please refer to the appendix for a reconciliation of GAAP
Slide 17: Confident in Our Ability to Deliver
Confident in Our Ability to Deliver More Leverage Over Time +2 to 3 25% 21% Pts 2026e 1 2027 Long-Term Margin Margin Leverage Margin Target Target 1 2026e margin represents the midpoint of our full year 2026 non-GAAP operating income margin guidance. Operating profit margin targets are non-GAAP and re
Slide 18: Key Takeaways
Key Takeaways 01 02 03 Platform of choice Innovation fueling Delivering strong in large and durable and financial results growing TAM diverse growth opportunities 18
Slide 19: Thank You
HubSpxst Thank You
Slide 20: Appendix
Appendix 20
Slide 21: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations
Slide 22: Non-GAAP Gross Profit
Non-GAAP Gross Profit Three Months Ended June 30, 2026 2025 GAAP Gross Profit $ 750,861 $ 638,705 Stock-based compensation 12,404 9,241 Amortization of acquired intangible assets 2,578 2,458 Non-GAAP Gross Profit $ 765843 650,404 GAAP gross margin 82% 84% Non-GAAP gross margin 84% 85%
Slide 23: Non-GAAP Operating Income
Non-GAAP Operating Income Operating income GAAP operating loss Stock-based compensation ‘Amortization of acquired intangible assets Accuisition related expenses Non-GAAP income from operations Operating Income GAAP operating loss Stock-based compensation Amortization of acquired intangible assets ‘A
Slide 24: Free Cash Flow (TTM)
Free Cash Flow (TTM) GAAP net cash and cash equivalents provided by operating activities Purchases of property & equipment Capitalization of software development costs Repayment of 2022 Convertible Notes attributable to the debt discount Free cash flow GAAP net cash and cash equivalents provided by
Slide 25: Non-GAAP Operating Income and Income Per Share Guidance
Non-GAAP Operating Income and Income Per Share Guidance
Slide 26: Definitions
Definitions Customers: We define our Customers at the end of a particular period as the number of business entities with one or more paid subscriptions to our customer platform, either purchased directly with us or purchased from a Solutions Partner. A single customer may have separate paid subscripti
Slide 27: Definitions
Definitions Calculated Billings: Calculated billings is defined as total revenue recognized in a period plus the sequential change in total deferred revenue in the corresponding period. Non-GAAP Gross Profit: We define as GAAP gross profit plus stock-based compensation and amortization of acquired intang