The software firm raised full-year guidance after strong customer growth and AI monetization drove first-quarter results above expectations.
HubSpot reported Q1 2026 revenue growth of 23% year over year, reaching $154 million in free cash flow and an 18% non-GAAP operating margin. The company repurchased $211 million in stock and ended the quarter with $1.8 billion in cash.
Net new customers totaled 10,800, bringing the global customer base to nearly 300,000. Deals over $60,000 in annual recurring revenue rose 37%, while deals over $120,000 surged 64%, signaling strong upmarket adoption.
AI monetization efforts showed traction, with active core seat users up 90% and credits consumed rising 67% quarter over quarter. Despite potential sales cycle extensions from outcome-based pricing, management raised full-year revenue and margin guidance.