HubSpot ended the quarter with cash, equivalents and investments of $1.5 billion after generating $70.9 million of free cash flow during the quarter.

"We focused on product innovation and showing the value HubSpot can deliver. As a result, we increasingly see HubSpot becoming the platform of choice for SMBs. Looking ahead, we have a tremendous opportunity in 2023 to help our customers grow and make progress on our vision of becoming the #1 CRM platform for scaling companies," said Yamini Rangan, CEO of HubSpot.

"We've taken the hard but necessary steps to restructure our business so we're better positioned to navigate the current environment and emerge stronger long-term."

HubSpot sees first-quarter revenue in a range of $473 million to $475 million versus estimates of $469.51 million. The company sees full-year revenue between $2.05 billion and $2.06 billion versus estimates of $2.06 billion.

HubSpot guided for first-quarter earnings of 82 cents to 84 cents per share versus estimates of 59 cents per share. The company said it sees full-year earnings in a range of $4.24 to $4.32 per share versus estimates of $2.86 per share. 

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HUBS Price Action: HubSpot shares are up 12.90% after hours at $408.65 at the time of publication, according to Benzinga Pro.

Photo: courtesy of HubSpot.