HubSpot Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	45.91	4.63	-164.51	-107.35	-77.84
Depreciation & Amortization	136.3	22.53	26.87	26.15	22.16
Other Amortization	0.58	76.31	47.79	34.01	46.51
Loss (Gain) From Sale of Assets	-	-	-	-	6.47
Asset Writedown & Restructuring Costs	-	-	67.26	-	-
Loss (Gain) From Sale of Investments	-40.05	-67.62	-41.2	-7.46	-7.47
Stock-Based Compensation	528.15	504.77	432.27	275.85	166.76
Other Operating Activities	-5.69	1.14	0.21	-0.28	-27.38
Change in Accounts Receivable	-64	-48.43	-57.62	-73.99	-34.11
Change in Accounts Payable	19	-4.58	-14.03	18.28	-10.61
Change in Unearned Revenue	183.88	131.04	109.93	116.97	127.72
Change in Other Net Operating Assets	-43.35	-21.2	-56	-9.02	26.51
Operating Cash Flow	760.72	598.6	350.97	273.17	238.73
Operating Cash Flow Growth	27.08%	70.56%	28.48%	14.43%	168.50%
Capital Expenditures	-53.17	-37.94	-33.72	-37.43	-28.73
Cash Acquisitions	-87.61	-40.44	-142.13	-	-16.81
Sale (Purchase) of Intangibles	-130.9	-90.87	-66.54	-54.35	-33.14
Investment in Securities	763.44	-348.55	-92.38	-227.89	-100.83
Other Investing Activities	-	1.93	-	-	-
Investing Cash Flow	491.77	-515.86	-334.77	-319.66	-179.51
Long-Term Debt Repaid	-459.81	-0.06	-0.01	-81.43	-89.53
Net Debt Issued (Repaid)	-459.81	-0.06	-0.01	-81.43	-89.53
Issuance of Common Stock	71.39	75.5	47.74	39.93	46.51
Repurchase of Common Stock	-521.59	-21.95	-10.71	-11.53	-17.44
Other Financing Activities	-	-	-	60.45	8.99
Financing Cash Flow	-910.01	53.5	37.01	7.43	-51.47
Foreign Exchange Rate Adjustments	25.74	-11.55	4.65	-6.81	-8.86
Net Cash Flow	368.23	124.68	57.87	-45.87	-1.11
Free Cash Flow	707.55	560.66	317.25	235.75	210
Free Cash Flow Growth	26.20%	76.72%	34.57%	12.26%	306.67%
Free Cash Flow Margin	22.60%	21.34%	14.62%	13.62%	16.15%
Free Cash Flow Per Share	13.30	10.82	6.36	4.91	4.48
Cash Interest Paid	-	1.72	1.72	1.75	1.84
Cash Income Tax Paid	-	12.19	12.91	4.69	6.97
Levered Free Cash Flow	669.84	528.36	382.21	245.53	234.35
Unlevered Free Cash Flow	669.81	528.67	382.6	245.87	229.77
Change in Working Capital	95.52	56.84	-17.72	52.24	109.51

Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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