Hubspot (HUBS) Operating Expenses (2013 - 2026)
Hubspot posted quarterly Operating Expenses of $707.4 million for Q1 2026, up 12.9% year-on-year from $626.5 million in Q1 2025, and up 7.05% on a QoQ basis from $660.8 million in Q4 2025.
Hubspot (HUBS) has 14 years of Operating Expenses data on file, last reported at $707.4 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 12.9% year-over-year to $707.4 million; the trailing twelve-month figure through Mar 2026 stood at $2.7 billion (up 13.15% YoY), and the FY2025 full-year result was $2.6 billion, up 13.62% from the prior year.
- Operating Expenses for Q1 2026 stood at $707.4 million, up from $660.8 million in the prior quarter.
- Across five years, Operating Expenses topped out at $707.4 million in Q1 2026 and bottomed at $333.8 million in Q1 2022.
- The 5-year median for Operating Expenses is $560.4 million (2023), against an average of $540.2 million.
- The widest annual swing landed in 2022, when Operating Expenses jumped 49.36%; it then gained 0.95% in 2024.
- A 5-year view of Operating Expenses shows it stood at $402.9 million in 2022, then grew by 28.48% to $517.6 million in 2023, then grew by 17.97% to $610.6 million in 2024, then rose by 8.21% to $660.8 million in 2025, then climbed by 7.05% to $707.4 million in 2026.
- The last three Operating Expenses figures came in at $707.4 million (Q1 2026), $660.8 million (Q4 2025), and $664.8 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | -7.98 Bn |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 6.82 Bn |
| 3 | Uber Technologies | 147.39 Bn | 146.35 Bn | 11.88 Bn | 11.28 Bn |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 1.16 Bn |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 2.33 Bn |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 1.04 Bn |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 3.32 Bn |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 4.23 Bn |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 4.54 Bn |
| 10 | Hubspot | 10.60 Bn | 9.47 Bn | 735.30 Mn | 707.36 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 707.36 Mn |
| Dec 31, 2025 | 660.80 Mn |
| Sep 30, 2025 | 664.77 Mn |
| Jun 30, 2025 | 663.32 Mn |
| Mar 31, 2025 | 626.51 Mn |
| Dec 31, 2024 | 610.64 Mn |
| Sep 30, 2024 | 580.03 Mn |
| Jun 30, 2024 | 565.65 Mn |
| Mar 31, 2024 | 545.56 Mn |
| Dec 31, 2023 | 517.63 Mn |
| Sep 30, 2023 | 490.47 Mn |
| Jun 30, 2023 | 560.35 Mn |
| Mar 31, 2023 | 464.34 Mn |
| Dec 31, 2022 | 402.88 Mn |
| Sep 30, 2022 | 394.04 Mn |
| Jun 30, 2022 | 395.07 Mn |
| Mar 31, 2022 | 333.82 Mn |
| Dec 31, 2021 | 305.91 Mn |
| Sep 30, 2021 | 284.52 Mn |
| Jun 30, 2021 | 264.51 Mn |
| Mar 31, 2021 | 241.66 Mn |
| Dec 31, 2020 | 212.41 Mn |
| Sep 30, 2020 | 201.24 Mn |
| Jun 30, 2020 | 178.46 Mn |
| Mar 31, 2020 | 174.79 Mn |
| Dec 31, 2019 | 158.37 Mn |
| Sep 30, 2019 | 154.43 Mn |
| Jun 30, 2019 | 147.84 Mn |
| Mar 31, 2019 | 131.26 Mn |
| Dec 31, 2018 | 124.49 Mn |
| Sep 30, 2018 | 121.11 Mn |
| Jun 30, 2018 | 111.78 Mn |
| Mar 31, 2018 | 103.50 Mn |
| Dec 31, 2017 | 94.92 Mn |
| Sep 30, 2017 | 90.84 Mn |
| Jun 30, 2017 | 81.08 Mn |
| Mar 31, 2017 | 73.18 Mn |
| Dec 31, 2016 | 73.38 Mn |
| Sep 30, 2016 | 64.73 Mn |
| Jun 30, 2016 | 60.81 Mn |
| Mar 31, 2016 | 54.85 Mn |
| Dec 31, 2015 | 49.87 Mn |
| Sep 30, 2015 | 48.52 Mn |
| Jun 30, 2015 | 42.99 Mn |
| Mar 31, 2015 | 39.11 Mn |
| Dec 31, 2014 | 44.18 Mn |
| Sep 30, 2014 | 32.20 Mn |
| Jun 30, 2014 | 27.09 Mn |
| Mar 31, 2014 | 25.92 Mn |
| Dec 31, 2013 | 24.43 Mn |
| Sep 30, 2013 | 22.30 Mn |