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HubSpot’s Nearly $900 Million Quarter: Is AI Becoming The Next Growth Engine?

HubSpot Incorporated reported its first quarter 2026 financial results with total revenue growing 18.2% year-over-year in constant currency and a 23% increase on an as-reported basis, reaching nearly $900 million. Subscription revenue drove this growth with a 23% rise, complemented by a 22% increase in services and other revenue. International revenue notably grew faster than domestic, contributing 49% of total revenue. The total customer base increased 16% year-over-year to nearly 300,000, with strong net additions, particularly in starter customers. Average subscription revenue per customer also improved by 2-6% depending on constant currency or reported metrics. HubSpot continued to advance its AI-first strategy, citing increased adoption of AI-driven features and products introduced during the Spring Spotlight update. Key AI product lines such as Customer Agent, Prospecting Agent, and Data Agent showed rapid growth in activation and usage, with credit consumption for AI services rising 67% quarter-over-quarter.