Hubspot IncHUBS

HubSpot’s 10-Q for the quarter ended 31 March 2026 shows revenue of $881.0m, net income of $32.6m and a 62¢ diluted EPS on 52.6m shares, all pulled from the official filing table for the three months to 31 March 2026. Operating income lands at $27.9m, barely 3.2% of revenue once you subtract the $234.2m R&D tab. The balance sheet still looks sturdy-$3.83bn in assets versus $1.83bn in liabilities-but $943.9m of that asset pile sits in cash and equivalents, a figure that raises the question of why the company still describes itself as a ‘growth’ platform when its operating cash flow for the period is only $198.8m.

The company sells an ‘agentic’ customer platform that bundles marketing, sales and service software on one Smart CRM, now marketed with an AI Data Agent that promises to ‘transform manual customer research into AI automation’ and an AEO tool that claims it can lift your brand inside ChatGPT, Gemini and Perplexity. Product pages show Starter Customer Platform bundles at $10 a month, a price point aimed squarely at small businesses and growing startups. Behind the pixel-perfect pitch decks, the 10-Q quietly states that the platform is built on top of a Smart CRM and an ecosystem of integrations, templates, partners and a community network-all of which cost money and show up as R&D and sales & marketing spend.

Filings also reveal that the filing period has coincided with a trio of insider sales under Section 144. On 8 July 2026, 21 July 2026 and 22 July 2026 affiliates filed notices to sell common shares totalling roughly $24m at prices that sit just above the cash-per-share number reported in the 10-Q. One director’s 102,000-share sale on 21 July alone illustrates the optics chasm between polished platform storytelling and the plain reality of insider liquidity windows. The company calls the disposals ‘routine’, the filings call them ‘Section 144’, and the rest of us call them ‘taking the agentic pitch for cash’.

For readers who like to see the mechanism, the SEC submissions JSON lists the same Schedule 144 filings under CIK 0001404655, while the companyfacts JSON shows the revenue, net income, R&D and cash balances verbatim. The product rails include the AI Data Agent page, the AEO page, the Starter Customer Platform page and the Service Hub page, all of which describe the platform’s current feature set without adding new financial data. If you want the numbers, the 10-Q filed on 7 May 2026 is the only source; if you want the pitch, the product pages are the only place to look.