Hubspot (HUBS) Research & Development (2013 - 2026)
Hubspot's (HUBS) quarterly Research & Development came in at $234.2 million in Q1 2026, up 6.4% YoY from $220.1 million in Q1 2025, and down 34.5% on a QoQ basis from $357.5 million in Q4 2025.
Hubspot (HUBS) Research & Development (2013 - 2026) Analysis & Trends
Hubspot (HUBS) has 14 years of Research & Development data on file, last reported at $234.2 million in Q1 2026.
- Quarterly Research & Development rose 6.4% year-over-year to $234.2 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.1 billion (up 82.27% YoY) and the FY2025 annual result came in at $1.4 billion, up 77.14% from the prior year.
- Research & Development retreated to $234.2 million in Q1 2026, from $357.5 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $357.5 million in Q4 2025 to a low of -$125.3 million in Q4 2024.
- A 5-year average of $201.2 million and a median of $227.7 million in 2025 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2024 — Research & Development tumbled 144.57% — and 2025, when it soared 385.35%.
- Tracing HUBS's Research & Development over 5 years: stood at $116.3 million in 2022, then surged by 141.66% to $281.1 million in 2023, then plunged by 144.57% to -$125.3 million in 2024, then soared by 385.35% to $357.5 million in 2025, then tumbled by 34.5% to $234.2 million in 2026.
- The last three Research & Development figures came in at $234.2 million (Q1 2026), $357.5 million (Q4 2025), and $227.7 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -4.12 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 498.00 Mn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 3.77 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 1.52 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 1.37 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 588.95 Mn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 265.90 Mn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 1.88 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 1.79 Bn |
| 10 | Hubspot | 11.12 Bn | 9.78 Bn | 750.86 Mn | 397.71 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 397.71 Mn |
| Mar 31, 2026 | 234.19 Mn |
| Dec 31, 2025 | 357.53 Mn |
| Sep 30, 2025 | 227.71 Mn |
| Jun 30, 2025 | 237.34 Mn |
| Mar 31, 2025 | 220.10 Mn |
| Dec 31, 2024 | -125.30 Mn |
| Sep 30, 2024 | 191.19 Mn |
| Jun 30, 2024 | 293.79 Mn |
| Mar 31, 2024 | 175.64 Mn |
| Dec 31, 2023 | 281.14 Mn |
| Sep 30, 2023 | 271.45 Mn |
| Jun 30, 2023 | 265.29 Mn |
| Mar 31, 2023 | 127.68 Mn |
| Dec 31, 2022 | 116.34 Mn |
| Sep 30, 2022 | 229.54 Mn |
| Jun 30, 2022 | 118.91 Mn |
| Mar 31, 2022 | 197.13 Mn |
| Dec 31, 2021 | 180.85 Mn |
| Sep 30, 2021 | 78.47 Mn |