Hubspot (HUBS) Gross Margin (2013 - 2026)
Hubspot (HUBS) reported Gross Margin of 83.46% for Q1 2026, down 42.0% on a YoY basis from 143.9% in Q1 2025, and little changed quarter-over-quarter from 83.74% in Q4 2025.
Hubspot (HUBS) Gross Margin (2013 - 2026) Analysis & Trends
Hubspot has reported Gross Margin for 14 years, with the latest figure at 83.46% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 42.0% year-over-year to 83.46%; the trailing twelve-month figure through Mar 2026 stood at 83.66% (down 117.0% YoY), and the FY2025 full-year result was 83.76%, down 127.0% from the prior year.
- Gross Margin for Q1 2026 stood at 83.46%, roughly flat from 83.74% in the prior quarter.
- The five-year high for Gross Margin was 85.3% in Q4 2024, with the low at 81.29% in Q2 2022.
- Historically, Gross Margin has averaged 83.81% across 5 years, with a median of 83.94% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin surged 364 bps — and 2025, when it slumped 166 bps.
- Hubspot's Gross Margin stood at 84.24% in 2022, then increased by 1 bps to 84.97% in 2023, then gained by 0 bps to 85.3% in 2024, then declined by 2 bps to 83.74% in 2025, then fell by 0 bps to 83.46% in 2026.
- The last three Gross Margin figures came in at 83.46% (Q1 2026), 83.74% (Q4 2025), and 83.51% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Hubspot | 9.55 Bn | 8.42 Bn | 735.30 Mn | 83.46% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 83.46% |
| Dec 31, 2025 | 83.74% |
| Sep 30, 2025 | 83.51% |
| Jun 30, 2025 | 83.94% |
| Mar 31, 2025 | 83.88% |
| Dec 31, 2024 | 85.30% |
| Sep 30, 2024 | 85.17% |
| Jun 30, 2024 | 85.01% |
| Mar 31, 2024 | 84.60% |
| Dec 31, 2023 | 84.97% |
| Sep 30, 2023 | 84.64% |
| Jun 30, 2023 | 83.94% |
| Mar 31, 2023 | 83.99% |
| Dec 31, 2022 | 84.24% |
| Sep 30, 2022 | 81.50% |
| Jun 30, 2022 | 81.29% |
| Mar 31, 2022 | 81.56% |
| Dec 31, 2021 | 80.60% |
| Sep 30, 2021 | 79.48% |
| Jun 30, 2021 | 79.77% |