HubSpot Reports 51% Revenue Increase In First Quarter As Public Company

HubSpot announced a 51% increase in revenue as the company released its Q3 financial results, its first as a public company. Total Q4 revenue is projected to be $31.0 million to $32.0 million, and total revenue for the year is expected to be $112.7 million to $113.7 million.

The vendor closed its initial public offering on Oct. 15, 2014, raising $133.7 million in cash. The stock began trading at Oct. 9 at $30.10 a share and closed at $36.69 per share on Nov. 13

"The third quarter is the first we are reporting as a public company, and we achieved some exciting milestones," said Brian Halligan, Chairman and CEO of HubSpot. "We held our annual INBOUND conference with more than 10,000 registered attendees; we achieved significant growth in both revenue and the number of customers; and we launched a brand new product line with the HubSpot sales platform."