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HubSpot (HUBS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
HubSpot (HUBS) reported revenue of $948M for the third quarter 2026 (Q3 2026), +17% from a year earlier and +4% from the quarter before. Operating margin was 7.6%, net earnings $83.0M (8.8% of revenue).
HubSpot, Q3 2026: revenue $948M (+17% year over year), operating margin 7.6%, net earnings $83.0M, operating cash flow $238M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $948M | +4% | +17% |
| Gross profit | $783M | +4% | +16% |
| Operating profit | $71.9M | +66% | +540% |
| Net earnings | $83.0M | +91% | +402% |
| Operating cash flow | $238M | +7% | +27% |
| Free cash flow | $222M | +9% | +25% |
What changed
Revenue was $947.6M in Q3 2026, up 17% year over year and up 4% from the previous quarter. Subscription and Circulation was the largest line at 98% of revenue. Subscription and Circulation added $138.6M year over year (up 18%), 100% of the total change. Service declined 3%.
Gross margin was 82.6%, down 0.9 points from Q3 2025. Operating profit was $71.9M, a 7.6% margin (up 6.2 points year over year). Of the extra revenue versus Q3 2025, 44% reached operating profit, above the 1% margin then. Operating expenses grew 7% against revenue growth of 17%. The fastest-growing cost line was Sales & marketing (+13%). Net earnings were $83.0M, up 402% year over year. The effective tax rate was 8.0%. Non-operating items added $18.3M, 20% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $238.0M (up 27% year over year), 287% of net earnings. Non-cash charges added back $46.2M of depreciation and amortization and $127.1M of share-based compensation. Working capital and other items used $18.2M. Capital expenditures of $16.0M left free cash flow of $222.0M.
Questions
What was HubSpot's revenue in the third quarter 2026?
HubSpot (HUBS) reported revenue of $948M for the third quarter 2026 (Q3 2026), +17% from a year earlier and +4% from the quarter before.
Was HubSpot profitable in the third quarter 2026?
Operating profit was $71.9M (7.6% of revenue) and net earnings $83.0M.
Source: HubSpot 10-Q on SEC EDGAR.