The software firm now expects 5,000-6,000 net new customers per quarter, down from prior guidance of 9,000-10,000.
HubSpot reduced its quarterly net new customer growth forecast to 5,000-6,000, a 40% cut from earlier expectations of 9,000-10,000. The company added 7,000 customers in Q2, below the guided range.
Revenue rose 20% year-over-year to $911.7 million, while adjusted operating income climbed 44% to $185.3 million. Free cash flow reached $167.9 million, up from $116.2 million a year ago. The customer base grew 14% annually to 306,446, with average subscription revenue per customer at $11,800.
Shares fell 19% following the announcement, trading at $210, roughly 60% below the 52-week high of $525.51.