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HubSpot (HUBS)

SaaS · IPO 2014 · Historical SBC from SEC EDGAR

Financials (2025)
Revenue
$3.1B
Revenue Growth YoY
19.2%
EBITDA
$206M
Net Income
$46M
Stock Price
—
Market Cap
—
Stock-Based Compensation (2025)
SBC Expense
$528M
SBC % of Revenue
16.9%
SBC % of EBITDA
256.7%
SBC % of Market Cap
—
Buybacks
$500M
Unrecognized SBC
—
SBC % of Revenue — Historical
SBC vs Buybacks ($M) — Historical
SBC % Revenue vs SBC % Market Cap
Revenue-based SBC % is the P&L view. Market-cap-based % is the shareholder dilution view — how much of the company is given away each year.
Market Cap vs Cumulative SBC
Total SBC expense paid since earliest data year vs current market cap. Shows the cumulative cost of stock-based compensation relative to company size.
GAAP vs "Adjusted" Earnings
GAAP net income already includes SBC as a real expense. But many companies highlight "adjusted" earnings that add SBC back, flattering profitability. The orange gap shows how much non-GAAP metrics overstate real earnings each year.
Ownership Retained Over Time
100 = your original ownership at the earliest data year. Net share issuance drives this down.
Annual Gross Dilution vs Buyback Offset
Red = gross share issuance from SBC. Green = shares retired via buybacks. Both as % of prior-year shares.
Year-by-Year Detail
Year SBC ($) Revenue ($) EBITDA ($) SBC % Rev SBC % EBITDA Rev Growth Buybacks ($) Net Income ($) Shares (EOY) Price (EOY) Market Cap SBC % MCap Unrecognized SBC ($)
2025 $528M $3.1B $206M 16.9% 256.7% 19.2% $500M $46M 52,555,000 — — — —
2024 $505M $2.6B $126M 19.2% 402.2% 21.1% — $5M 51,767,000 — — — —
2023 $432M $2.2B $-78M 19.9% neg 25.4% — $-165M 50,448,000 — — — —
2022 $276M $1.7B $-40M 15.9% neg 33.1% — $-107M 49,217,000 — — — —
2021 $167M $1.3B $-29M 12.8% neg 47.3% — $-78M 47,390,000 — — — —
2020 $121M $883M $-44M 13.8% neg 30.8% — $-85M 46,115,000 — — — —
2019 $98M $675M $-22M 14.5% neg 31.6% — $-54M 42,955,000 — — — —
2018 $76M $513M $-39M 14.9% neg 36.6% — $-64M 39,300,000 — — — —
2017 $47M $376M $-34M 12.6% neg 38.6% — $-40M 37,503,000 — — — —
2016 $33M $271M $-34M 12.1% neg 48.9% — $-46M 35,784,000 — — — —
2015 $21M $182M $-38M 11.7% neg 57.0% — $-46M 34,313,000 — — — —
2014 $16M $116M $-43M 14.1% neg 49.3% — $-48M 31,431,000 — — — —
2013 $3M $78M $-30M 4.5% neg 50.4% — $-34M 5,301,000 — — — —
2012 IPO $3M $52M $-16M 4.9% neg — — $-19M — — — — —