Hubspot (HUBS) Operating Leases (2019 - 2026)
Hubspot's Operating Leases was $198.82 million in Q2 2026, down 18.1% from $242.87 million a year earlier and down 5.4% from the prior quarter.
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Analysis
Hubspot (HUBS) Operating Leases (2019 - 2026) Analysis & Trends
At the end of FY2025, Operating Leases at Hubspot came in at $222.6 million, down 12.5% from FY2024.
- Operating Leases has now declined for three consecutive years, with a five-year compound annual growth rate of -4.5% (FY2020 to FY2025).
- In earlier years, Operating Leases was $254.54 million in FY2024 (-14.2%), $296.56 million in FY2023 (-6.2%), $316.18 million in FY2022 (+11.4%) and $283.87 million in FY2021 (+1.5%).
- The Q2 2026 figure marks the lowest quarterly Operating Leases since Q1 2019.
- Compared with a year earlier, Operating Leases has declined for 11 straight quarters, with an average decline of 13.5% over the last eight quarters.
- The best year-over-year quarter for Operating Leases over five years was Q3 2023 (growth of 20.3%); the worst was Q2 2026 (a decline of 18.1%).
- Per Business Quant data, HUBS's Operating Leases in the three quarters before Q2 2026 was $210.16 million (Q1 2026), $222.6 million (Q4 2025) and $233.23 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn |
| 10 | Hubspot | 10.09 Bn | 3.87 Bn | 750.86 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 198.82 Mn |
| Mar 31, 2026 | 210.16 Mn |
| Dec 31, 2025 | 222.60 Mn |
| Sep 30, 2025 | 233.23 Mn |
| Jun 30, 2025 | 242.87 Mn |
| Mar 31, 2025 | 249.57 Mn |
| Dec 31, 2024 | 254.54 Mn |
| Sep 30, 2024 | 265.71 Mn |
| Jun 30, 2024 | 273.14 Mn |
| Mar 31, 2024 | 284.49 Mn |
| Dec 31, 2023 | 296.56 Mn |
| Sep 30, 2023 | 301.66 Mn |
| Jun 30, 2023 | 313.63 Mn |
| Mar 31, 2023 | 309.04 Mn |
| Dec 31, 2022 | 316.18 Mn |
| Sep 30, 2022 | 250.68 Mn |
| Jun 30, 2022 | 264.23 Mn |
| Mar 31, 2022 | 278.06 Mn |
| Dec 31, 2021 | 283.87 Mn |
| Sep 30, 2021 | 289.54 Mn |
API Access
Hubspot Operating Leases API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-leases&ticker=HUBS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "ticker": "HUBS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-leases&ticker=HUBS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();