HubSpot User and Revenue Stats

HubSpot is a popular customer relationship management (CRM) platform with marketing, sales, and customer experience features.

Founded in 2006, the inbound marketing pioneer has grown its total user base to 216,840 paying customers in Q1 2024.

The software developer generated $2.12 billion in revenue in 2023 – a 2.4x increase since 2020.

From users to revenue, here’s a summary of what you’ll find on this page:

• Key HubSpot Stats
• How Many Businesses Use HubSpot?
• What’s the Average Subscription Revenue per HubSpot Customer?
• HubSpot Revenue
• HubSpot Subscription Revenue
• HubSpot Professional Services and Other Revenue
• HubSpot Revenue Breakdown by Region
• HubSpot Total Operating Expenses
• HubSpot Research and Development Expenses
• HubSpot Sales and Marketing Expenses
• HubSpot General and Administrative Expenses
• How Many People Work at HubSpot?

Key HubSpot Stats

• HubSpot has 216,840 customers located across 135+ countries.
• The CRM platform generated $2.12 billion in revenue in 2020. And brought in $617.4 million in Q1 2024.
• HubSpot generated 60.83% ($1.32 billion) of its revenue from customers based in the Americas region.
• Total operating expenses amounted to $2.03 billion in 2023. And $545.56 million in Q1 2024.
• HubSpot currently has 7,663 employees.

How Many Businesses Use HubSpot?

HubSpot’s customers include business organizations or individuals with paid CRM platform subscriptions. These are billed by HubSpot directly or via a Solutions Partner.

As of March 2024, HubSpot had 216,840 paying customers, an increase from 205,091 at the end of 2023. The company has added 11,749 new subscriptions in the first quarter of 2024 alone.

Here’s a table with a number of HubSpot customers since 2012:

Source: HubSpot

What’s the Average Subscription Revenue per HubSpot Customer?

HubSpot generated an average subscription revenue of $11,447 per customer in Q1 2024.

We’ve charted HubSpot’s average subscription revenue per customer since 2012:

Source: HubSpot

HubSpot Revenue

HubSpot brought in $2.12 billion in revenue in 2023. The company’s revenue grew by 25.44% over the past year.

In Q1 2024, HubSpot reported quarterly revenue of $617.4 million, showing a 23% year-over-year increase.

HubSpot annual revenue has grown by 68.25% since 2021.

Here’s a detailed overview of HubSpot’s total revenue since 2010:

Source: HubSpot

HubSpot Subscription Revenue

HubSpot generated $2.12 billion in subscription revenue in 2023, accounting for a 97.7% share of total revenue. Subscription revenue increased by 25.44% over the past year.

In Q1 2024, HubSpot subscription revenue amounted to $603.8 million.

The CRM platform has grown its annual subscription revenue by 1.68x since 2021.

Here’s a comprehensive overview of HubSpot’s subscription revenue since 2010:

Source: HubSpot

HubSpot Professional Services and Other Revenue

HubSpot’s professional services and other revenue streams include customer onboarding and training services.

The company’s professional services and other revenue accounted for 2.2% ($46.75 million) of total revenue in 2023 – a 15.63% year-over-year increase.

In Q1 2024, HubSpot generated $13.6 million in professional services and other revenue.

Here’s a table showing HubSpot’s professional services and other revenue since 2010:

Source: HubSpot

HubSpot Revenue Breakdown by Region

Americas

HubSpot generated $1.32 billion in revenue from customers in the Americas region in 2023, accounting for 60.83% of total revenue.

Revenue derived from American customers has increased by 23.36% over the past year.

The share of the revenue from customers in the Americas region declined from 84.98% in 2015 to 60.83% in 2023.

This is a table featuring revenue derived from HubSpot customers based in the Americas region since 2015:

Europe

HubSpot customers based in Europe contributed $668.26 million to the company’s revenue in 2023. This makes Europe the second-largest market after the Americas region.

Revenue share from HubSpot customers in Europe grew from 12.91% in 2015 to reach 30.8% in 2023.

Here’s a detailed overview of HubSpot revenue from European markets since 2015:

Asia Pacific

HubSpot’s regional revenue from customers in the Asia Pacific region reached $180.4 million in 2023. This contributed 8.31% of HubSpot’s total annual revenue.

The company has increased its revenue by 20.64% in the Asia Pacific market between 2022 and 2023.

Here’s a table showing HubSpot’s revenue from customers in the Asia Pacific region since 2015:

Source: HubSpot

HubSpot Total Operating Expenses

HubSpot total operating expenses reached $2.03 billion in 2023 – a 32.68% increase since 2022.

The CRM platform expenses totaled $545.56 million in Q1 2024 alone.

Below are HubSpot’s total operating expenses since 2010:

Source: HubSpot

HubSpot Research and Development Expenses

HubSpot research and development expenses amounted to $617.75 million in 2023– a 30.43% share of total operating expenses.

In Q1 2024 this figure stood at $175.64 million – a 32.19% share of total operating expenses.

HubSpot’s research and development expenses increased by 39.76% from 2022 to 2023.

Here’s a table showing HubSpot’s research and development expenses since 2010:

Source: HubSpot

HubSpot Sales and Marketing Expenses

HubSpot’s sales and marketing expenses accounted for 55.04% ($300.28 million) of total operating expenses in Q1 2024.

In 2023, HubSpot sales and marketing expenses amounted to $1.07 billion, showing an annual increase of 20.76%.

HubSpot’s sales and marketing expenses since 2010 are shown below:

Source: HubSpot

HubSpot General and Administrative Expenses

HubSpot general and administrative expenses amounted to $249.65 million in 2023 – a 12.15% share of total operating expenses. This figure stood at $68.86 million for Q1 2024.

HubSpot’s general and administrative expenses increased by 26.26% over the past year.

Here’s a table showing HubSpot’s general and administrative expenses since 2010:

Source: HubSpot

How Many People Work at HubSpot?

HubSpot employs 7,663 people located in the Americas, Europe, and the Asia Pacific region.

HubSpot has increased its headcount by 2.26x since 2019.

Approximately two in three (64.87%) HubSpot employees are based in the Americas region, accounting for 4,971 people. An additional 2,164 HubSpotters are located in Europe with the remaining 528 based in the Asia Pacific region.

Conclusion

That’s it for my 2024 roundup of HubSpot stats.

The software company is showing steady growth in customer base and total revenue. With nearly 217,000 customers, the CRM platform is among the most popular products of its kind available on the market.