The following is a summary of the HubSpot, Inc. (HUBS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• HubSpot reported Q1 2024 revenue growth of 23% year-over-year in constant currency, with an operating margin of 15%, marking expansion by 120 basis points year-over-year.

• The company's net income stood at $89 million or $1.68 per fully diluted share with a free cash flow of $104 million or 17% of revenue.

• A significant growth was seen in the customer base with a year-over-year increase of 22% to over 215,000 customers globally.

Business Progress:

• With a focus on innovation, HubSpot introduced an updated Content Hub and Service Hub, primarily driven by AI. The AI-specific approach is aimed at embedding AI across the CRM platform and all hubs.

• The new seats pricing model was adopted faster by their customer base leading to a short-term reduction in the average selling price expected to be neutralized by volume over time.

• They plan to move completely to a customer platform, migrating existing customers over to the seats model in the latter half of 2024.

• The integration of Clearbit is showing promising results, contributing to revenue and billings growth, with expectations of it being a key growth driver in the future.

• Despite challenges in upgrade rates, customer dollar retention remained strong and its position was reiterated for the full-year guidance.

More details: HubSpot IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.