Hubspot $HUBS 2Q21 Earnings 💪🏻
- Rev $311m +53% ↗️
- Gross Profit $248m +50% ↗️ margin 80% -119bps ↘️
- NG EBIT $28m +41% ↗️ margin 8.9% -50bps ↘️
- NG Net Income $22m +29% ↗️ margin 7% -125bps ↘️
- OCF $38m +113%🚀margin 13% +2883bps ✅
- FCF $26m +31X 🚀margin 8% +783bps ✅
➡️ “We finished out the first half of the year with yet another quarter of strong performance across the business.”
➡️ New CEO, Yamini Rangan to takeover from Co-Founder/CEO Brian Halligan from Sep21.
➡️ Co-Founder/Ex-CEO, Brian Halligan to be Executive Chairman.
International ↗️↗️ will be growing much faster than Domestic ↗️.
Strong unit economics and improving profitability: $HUBS
➡️ Stable and high gross profit margins
➡️ Improving Non-GAAP EBIT profit margins
➡️ Leading to $HUBS rising Free Cash Flow (TTM FCF) over time. 📈
➡️ Most of $HUBS long-term operating leverage and improving profitability (EBIT profit margins) will likely be coming from S&M (another 1000-1500bps).
Final Thoughts on Hubspot $HUBS:
➡️ Vision to be the #1 CRM platform for scaling companies. Larger and faster growing international opportunity, supported by strong unit economics and improving long-term profitability driving FCF growth.
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