.jpg)
HubSpot, a leading customer platform for scaling businesses, reported strong financial performance for Q2 2025, showcasing robust revenue growth and advancements in its AI-driven strategy.
Total revenue reached $760.9 million, up 19% year-over-year.
Subscription revenue grew 19% to $744.5 million.
Non-GAAP operating income rose to $129.1 million, up 18% from Q2 2024.
Customer base expanded 18% to 267,982.
AI-powered features like Customer Agent and Prospecting Agent enhance efficiency.
Q3 2025 revenue guidance set at $785.0-$787.0 million, up 17%.
HubSpot reported total revenue of $760.9 million in Q2 2025, reflecting a 19% year-over-year increase and 18% in constant currency. Subscription revenue, the core of HubSpot’s business, grew 19% to $744.5 million, while professional services and other revenue increased 21% to $16.3 million. This growth underscores HubSpot’s ability to scale its customer relationship management (CRM) platform amid a competitive SaaS market. “Q2 was another solid quarter of continued revenue growth and customer expansion,” said Yamini Rangan, Chief Executive Officer at HubSpot.
The company’s non-GAAP operating income reached $129.1 million, an 18% increase from $109.3 million in Q2 2024, maintaining a non-GAAP operating margin of 17.0%. Despite a GAAP operating loss of $24.6 million, the slight improvement from $23.9 million in Q2 2024 reflects HubSpot’s focus on balancing growth with efficiency. Non-GAAP net income was $117.3 million, or $2.23 per basic and $2.19 per diluted share, compared to $103.5 million, or $2.03 per basic and $1.94 per diluted share in Q2 2024.
HubSpot’s customer base grew to 267,982 by June 30, 2025, an 18% increase from the previous year. The average subscription revenue per customer rose slightly by 1% to $11,310. The company’s AI-first strategy, including tools like Customer Agent and Prospecting Agent, continues to drive efficiency for go-to-market teams. “Our strategy is to be the leading AI-first customer platform for scaling companies, and I’m excited by the progress we’re making,” said Rangan. These embedded AI features are helping customers work smarter, contributing to HubSpot’s competitive edge in the CRM market.
HubSpot generated $164.4 million in operating cash flow and $116.2 million in non-GAAP free cash flow in Q2 2025, compared to $117.8 million and $92.1 million, respectively, in Q2 2024. The company maintains a strong balance sheet with $1.9 billion in cash, cash equivalents, and investments. Additionally, HubSpot used $125.0 million to repurchase its common stock, with $375.0 million remaining for future repurchases, signaling confidence in long-term growth.
For Q3 2025, HubSpot projects total revenue between $785.0 million and $787.0 million, a 17% year-over-year increase. Non-GAAP operating income is expected to be $156.0 million to $157.0 million, with a 20% operating margin. Non-GAAP net income per share is forecasted at $2.56 to $2.58. For the full year, revenue is anticipated to reach $3.080 billion to $3.088 billion, up 17%, with non-GAAP operating income of $568.0 million to $572.0 million, reflecting an 18% margin. “Heading into Q3, we’re strongly positioned to deliver durable, long-term growth,” Rangan added.
HubSpot’s Q2 2025 results highlight its resilience and strategic focus on AI-driven innovation, positioning it as a leader in the CRM and SaaS markets. With a growing customer base and robust financials, the company is well-equipped to navigate economic challenges while delivering value to scaling businesses.
HubSpot is the customer platform that helps businesses connect and grow better. HubSpot delivers seamless connection for customer-facing teams with a unified platform that includes AI-powered engagement hubs, a Smart CRM, and a connected ecosystem with over 1,700 App Marketplace integrations, a community network, and educational content.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.