PR Newswire
CAMBRIDGE, Mass., Feb. 13, 2018
CAMBRIDGE, Mass., Feb. 13, 2018 /PRNewswire/ -- HubSpot, Inc. (NYSE: HUBS), a leading CRM, marketing, sales and customer experience platform, today announced financial results for the fourth quarter and full year ended December 31, 2017. The company also announced today that John Kinzer, its Chief Financial Officer, will be leaving at the end of 2018. The Company has initiated a search for a new CFO, and Mr. Kinzer will work to ensure a smooth transition of his duties once a new CFO is appointed.
"On behalf of the entire HubSpot team, I want to thank John for his many contributions since joining the company in 2013. He was an instrumental part of our successful transition from a private to a public company and our success in scaling up our business," said Brian Halligan, HubSpot Co-founder and CEO. "We will miss him following his departure and wish him the best."
"My more than four years at HubSpot have been an amazing experience, working with a very talented group of people to help our customers grow better, and building a big business in the process," said Kinzer. "Heading into 2018 HubSpot has never been on stronger footing, and I look forward to ensuring a smooth transition in the coming months."
Financial Highlights:
Revenue
Fourth Quarter 2017:
Full Year 2017:
Operating Income (Loss)
Fourth Quarter 2017:
Full Year 2017:
Net Income (Loss)
Fourth Quarter 2017:
Full Year 2017:
Balance Sheet and Cash Flow
Additional Recent Business Highlights
"2017 was another exciting year for HubSpot. We made great strides in building out our freemium model, found more ways to delight our customers and continued our evolution from a single product application company to a front office suite with the goal of becoming the growth platform for SMB's," said Halligan. "As we head into 2018, I think we have a clear set of plays in place that will set us up for continued success into the future."
Business Outlook
Based on information available as of February 13, 2018, HubSpot is issuing guidance for the first quarter and full year of 2018 as indicated below.
First Quarter 2018:
Full Year 2018:
HubSpot's estimates of stock-based compensation, amortization of acquired intangible assets, and acquisition-related expenses in future periods assume, among other things, the occurrence of no additional acquisitions, investments or restructurings, and no further revisions to stock-based compensation and related expenses.
Conference Call Information
HubSpot will host a conference call on Tuesday, February 13, 2018 at 4:30 p.m. Eastern Time (ET) to discuss the company's fourth quarter and full-year financial results and its business outlook. To access this call, dial (866) 393-4306 (domestic) or (734) 385-2616 (international). The conference ID is 9863059. Additionally, a live webcast of the conference call will be available in the "Investors" section of HubSpot's website at www.hubspot.com.
Following the conference call, a replay will be available at (855) 859-2056 (domestic) or (404) 537-3406 (international). The replay pass code is 9863059. An archived webcast of this conference call will also be available in the "Investors" section of HubSpot's website at www.hubspot.com.
The company has used, and intends to continue to use, the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.
About HubSpot
HubSpot is a leading CRM, marketing, sales, and customer experience platform. Over 41,500 total customers in over 90 countries use HubSpot's award-winning software, services, and support to create an inbound experience that will attract, engage, and delight customers. Learn more at www.hubspot.com.
The tables at the end of this press release include a reconciliation of GAAP to non-GAAP operating income (loss), operating margin, subscription margin, expense, expense as a percentage of revenue, net income (loss), and free cash flow for the three months and year ended December 31, 2017 and 2016. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
Cautionary Language Concerning Forward-Looking Statements
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management's expectations of future financial and operational performance and operational expenditures, expected growth, and business outlook, including our financial guidance for the first fiscal quarter and full year 2018; statements regarding the announced leadership transition; and statements regarding our ability to achieve continued success into the future. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, our history of losses, our ability to retain existing customers and add new customers, the continued growth of the market for an inbound platform; our ability to differentiate our platform from competing products and technologies; our ability to manage our growth effectively to maintain our high level of service; our ability to maintain and expand relationships with our marketing agency and sales partners; our ability to successfully acquire and integrate companies and assets; our ability to successfully recruit and retain highly-qualified personnel; the price volatility of our common stock, and other risks set forth under the caption "Risk Factors" in our Quarterly Report on Form 10-Q filed on November 1, 2017 and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
Consolidated Balance Sheets (in thousands) | | | | ||
| | | | ||
| December 31, | | December 31, | ||
| 2017 | | 2016 | ||
Assets | | | | | |
Current assets: | | | | | |
Cash and cash equivalents | $ | 87,680 | | $ | 59,702 |
Short-term investments | | 416,663 | | | 54,648 |
Accounts receivable—net of allowance for doubtful accounts of $638 | | 60,676 | | | 38,984 |
Deferred commission expense | | 13,343 | | | 9,025 |
Restricted cash | | 4,757 | | | 162 |
Prepaid hosting costs | | 4,964 | | | 5,299 |
Prepaid expenses and other current assets | | 14,418 | | | 8,433 |
Total current assets | | 602,501 | | | 176,253 |
Long-term investments | | 31,394 | | | 35,718 |
Property and equipment, net | | 43,294 | | | 30,201 |
Capitalized software development costs, net | | 8,760 | | | 6,523 |
Restricted cash | | 347 | | | 321 |
Other assets | | 4,617 | | | 950 |
Intangible assets, net | | 6,312 | | | 16 |
Goodwill | | 14,950 | | | 9,773 |
Total assets | $ | 712,175 | | $ | 259,755 |
Liabilities and stockholders' equity | | | | | |
Current liabilities: | | | | | |
Accounts payable | $ | 4,657 | | $ | 4,350 |
Accrued compensation costs | | 16,329 | | | 11,415 |
Other accrued expenses Werbung Mehr Nachrichten zur Hubspot Inc Aktie kostenlos abonnieren
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