New York, Feb 12, 2026, 05:50 EST — Premarket
- HubSpot shares climbed 3.4% ahead of the open, bouncing back after nearly dropping 10% in the previous session.
- The company is projecting 2026 revenue between $3.69 billion and $3.70 billion, and has cleared a $1.0 billion buyback plan.
- Investors eye HubSpot’s upmarket momentum, with AI concerns still clouding the outlook for software names.
HubSpot, Inc. (HUBS) climbed 3.4% to $216.40 in premarket action Thursday, bouncing back after a rough session Wednesday that saw the stock close at $209.33, down 9.8%. Data as of 5:00 a.m. EST comes from Public.com. 1
The update arrived while investors are questioning software valuations, worried that AI chatbots might erode the appeal of subscription models. According to a Reuters Breakingviews analysis, the BVP Nasdaq Emerging Cloud Index—a key barometer for software stocks—has dropped 20% since the start of the year. 2
HubSpot, known for its marketing, sales, and customer-service software, has been steering more aggressively toward bigger clients—making it a target in ongoing budget discussions. Investors often see its guidance as a barometer for demand in customer-relationship-management tools, a sector where giants like Salesforce usually take the spotlight.
HubSpot reported a 20% bump in fourth-quarter revenue, reaching $846.7 million. On a constant-currency basis, growth landed at 18%—a number that excludes currency swings. Subscription revenue totaled $829.0 million.
Non-GAAP net income came in at $162.5 million, translating to $3.09 per diluted share—up from $2.32 per share this time last year. The non-GAAP figure strips out certain items.
The company wrapped up 2025 with 288,706 customers, a 16% increase. Calculated billings, seen as a bookings proxy, jumped 27% to $971.4 million for the quarter. Cash and investments finished the year at $1.8 billion.
HubSpot is projecting revenue between $3.69 billion and $3.70 billion for 2026, with non-GAAP earnings expected to land in the $12.38 to $12.46 per share range. For the first quarter, the company is guiding for revenue of $862 million to $863 million.
The board cleared a share buyback plan that could see up to $1.0 billion repurchased within 24 months, either on the open market or under 10b5-1 pre-set trading programs. “2025 was a transformative year for HubSpot, defined by the momentum of our agentic customer platform and clear acceleration upmarket,” CEO Yamini Rangan said. 3
Most analysts called the guidance cautious. Wolfe Research’s Alex Zukin put it plainly: the FY26 outlook “appears conservative” — especially with net new annual recurring revenue set to grow 24% in 2025, a figure directly linked to net new subscription dollars. He also pointed out that consensus estimates are running below the ranges offered by the company. 4
Cloud-software names have been volatile, as concerns linger that AI tools might cut into demand for conventional marketing and sales roles—or pressure pricing. HubSpot gets a chunk of its revenue abroad, which means currency movements can hit results, even if demand stays steady.
HubSpot’s buyback authorization gives the company room to maneuver, though there’s no requirement to actually repurchase shares—and the program could be paused. Investors will be tracking customer additions and billings for any signs of a slowdown as HubSpot moves further upmarket.
Everything kicks off at 9:30 a.m. ET, when the opening bell hits and broader liquidity shakes out the premarket action. Once trading is underway, traders will be watching for updates on repurchase activity and searching for fresh guidance on demand.
