Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
From 2021 through 2024 HubSpot’s balance sheet shows pronounced growth. Total assets rose from $2,174.9M to $3,795.8M (an increase of $1,621.0M, ~74.6%), with year‑over‑year increases accelerating (≈17% in 2022, 20.7% in 2023, 23.6% in 2024). Total liabilities also increased but at a slower pace, from $1,301.1M to $1,887.5M (+$586.5M, ~45.1%), and the annual liability growth moderated over the period. Stockholders’ equity expanded most sharply, from $873.8M to $1,908.3M (+$1,034.5M, ~118.4%), more than doubling overall and jumping particularly in 2023–2024 (equity rose ~44.6% in that last year). The balance‑sheet mix improved materially: the equity-to-assets ratio moved from ~40% in 2021 to ~50% in 2024 and leverage (assets/equity) declined (from ~2.5× to ~2.0×), reflecting stronger capitalization and reduced reliance on liabilities to finance growth. That pattern—rapid asset growth accompanied by even faster equity accumulation—is consistent with a scale‑up SaaS business converting revenue growth into retained earnings (or occasional equity raises) and managing liabilities (including deferred revenue) prudently. Note the 2025 row contains zeros and appears to be missing data, so trends beyond 2024 cannot be assessed without corrected figures.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.