Hubspot (HUBS) Cost of Revenue (2013 - 2026)

Hubspot has reported Cost of Revenue for 14 years, with the latest figure at $145.7 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 26.57% year-over-year to $145.7 million; the trailing twelve-month figure through Mar 2026 stood at $539.1 million (up 21491.83% YoY), and the FY2025 full-year result was $508.5 million, up 29.3% from the prior year.
• Cost of Revenue for Q1 2026 stood at $145.7 million, up from $137.7 million in the prior quarter.
• The five-year high for Cost of Revenue was $817.6 million in Q4 2023, with the low at -$510.7 million in Q4 2024.
• Historically, Cost of Revenue has averaged $112.2 million across 5 years, with a median of $115.1 million in 2025.
• Annual changes were most pronounced in 2022 — Cost of Revenue tumbled 174.15% — and 2023, when it jumped 338.44%.
• Hubspot's Cost of Revenue stood at -$342.9 million in 2022, then soared by 338.44% to $817.6 million in 2023, then tumbled by 162.47% to -$510.7 million in 2024, then surged by 126.96% to $137.7 million in 2025, then increased by 5.8% to $145.7 million in 2026.
• The last three Cost of Revenue figures came in at $145.7 million (Q1 2026), $137.7 million (Q4 2025), and $133.5 million (Q3 2025), per Business Quant data.