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HubSpot 2014 Earnings Report: Revenue Jumped 49% & Customer Count Up 35%
The inbound marketing software company is gaining momentum, but still reporting losses overall.
HubSpot announced its Q4 2014 earnings today, reporting total revenue of $115.9 million for the year, representing a 49 percent increase compared to 2013.
The company showed growth in all areas since its IPO in October, with total revenue for the fourth quarter of 2014 reaching $34.2 million, a 53 percent increase over 4Q 2013.
HubSpot’s services revenue for the year was up 40 percent over 2013, and subscription revenue up 50 percent at $106.3 million. The company says its client base grew to include more than 13,500 customers by December 31, 2014, a 35 percent hike over the number of customers it won in 2013.
While the company has experienced tremendous growth, HubSpot has yet to turn a profit. Its GAAP operating loss for the year totaled $48.6 million, and Non-GAAP operating loss was $32.1 million.
“It is clear that we are still in the early innings of meeting the significant demand for marketing and sales technology that helps mid-market companies grow,” says HubSpot Chairman and CEO Brian Halligan. Nonetheless, Halligan said his company had a terrific quarter, and added a record number of new customers while achieving strong financial results.