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HubSpot vs Veeva Systems: HUBS and VEEV compared
HubSpot is the larger company: $948M of revenue in its latest quarter (Q3 2026) against $928M for Veeva Systems (Q2 FY27). Veeva Systems is growing faster (+18% against +17% a year earlier). Veeva Systems is more profitable, with an operating margin of 29.6% against 7.6%.
Where the money goes: HUBS and VEEV
HubSpot (HUBS) · Q3 2026
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.
Veeva Systems (VEEV) · Q2 FY27
Veeva Systems, Q2 FY27: revenue $928M (+18% year over year), operating margin 29.6%, net earnings $273M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| HubSpot (HUBS) | Veeva Systems (VEEV) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 FY27 |
| Revenue | $948M | $928M |
| Revenue growth, Y/Y | +17% | +18% |
| Gross margin | 82.6% | 75.0% |
| Operating margin | 7.6% | 29.6% |
| Net earnings | $83.0M | $273M |
| Net margin | 8.8% | 29.5% |
| Operating cash flow | $238M | $239M |
| Free cash flow | $222M | — |
| Market value | $9.9B | $50.1B |
| P/E | 48.0× | 49.4× |
| Analysts’ mean target | $242.22 | $319.93 |
Where the revenue comes from
HubSpot
- Subscription and Circulation: $930M (98%)
- Service: $17.3M (2%)
Veeva Systems
- Subscription: $767M (83%)
- Professional services and other: $161M (17%)
Questions
Which is bigger, HubSpot or Veeva Systems?
HubSpot is the larger company: $948M of revenue in its latest quarter (Q3 2026) against $928M for Veeva Systems (Q2 FY27).
Is HubSpot or Veeva Systems growing faster?
Veeva Systems is growing faster (+18% against +17% a year earlier).
Which is more profitable, HubSpot or Veeva Systems?
Veeva Systems is more profitable, with an operating margin of 29.6% against 7.6%.
More: HubSpot earnings · how HubSpot makes money · Veeva Systems earnings · how Veeva Systems makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Aug 27, 2026). Fiscal quarters can end on different dates. Not investment advice.