HubSpot Sales Climb On 100K Customer, $1B Annual Recurring Revenue Milestones

Software and customer service company HubSpot Inc HUBS reported fourth-quarter earnings after close Thursday and announced it had passed two important milestones.

What Happened: Fourth-quarter revenue of $252.1 million was up 35% year-over-year and came in ahead of Street consensus of $236.7 million for HubSpot. The company reported fourth-quarter adjusted eps of 44 cents, which beat street estimates of 23 cents.

Full fiscal 2020 revenue of $883 million was up 31% year-over-year.

The company reported fourth-quarter subscription revenue was up 36% year-over-year.

HubSpot ended the fourth quarter with 103,994 customers, surpassing the 100,000 milestone for the first time.

The company reported annual recurring revenue surpassed $1 billion for the first time.

Related Link: HubSpot Targets Larger Customers With End-To-End CRM Platform

What’s Next: HubSpot is estimating first-quarter revenue will come in a range of $260 million to $265 million versus an estimate of $245 million.

HubSpot sees full fiscal 2021 revenue coming in a range of $1.16 billion to $1.17 billion. Fiscal 2021 EPS is guided at a range of $1.51 to $1.59.

Price Action: Shares of HubSpot are up 10% to $473 in after-hours trading.

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