New York, Feb 11, 2026, 19:09 ET — After-hours
- HubSpot shares slid about 10% in after-hours trade after the company posted quarterly results and a 2026 outlook.
- HubSpot forecast 2026 revenue of $3.69 billion to $3.70 billion and disclosed a $1.0 billion share repurchase plan.
- Traders are watching billings and margin targets for clues on demand and pricing power going into Thursday’s session.
HubSpot shares fell sharply in after-hours trading on Wednesday, even after the marketing software maker reported higher profit and lifted its outlook. The stock was down 9.8% at $209.33, after closing at $231.99.
The move matters because HubSpot has become a quick read on spending by small and mid-sized businesses, where sales cycles can turn fast. Investors have also been jumpy about software valuations, and the bar has been rising for anything tagged to AI and growth.
In practice, that means the market can punish a stock even when the headline numbers look clean. Traders tend to drill into forward indicators — what gets billed, how much it costs to grow, and whether the next quarter looks harder than the last.
HubSpot said fourth-quarter revenue rose 20% to $846.7 million and non-GAAP (adjusted) earnings were $3.09 a share; calculated billings — a metric tied to invoicing that can hint at future revenue — climbed 27% to $971.4 million. The company forecast full-year 2026 revenue of $3.69 billion to $3.70 billion and non-GAAP earnings of $12.38 to $12.46 a share, and said its board authorized a $1.0 billion share repurchase program over up to 24 months. Chief Executive Yamini Rangan said 2025 was “transformative,” pointing to “momentum of our agentic customer platform” and “acceleration upmarket.” (Business Wire)
The company’s results topped Wall Street estimates, according to Investing.com, and its 2026 forecast also ran ahead of consensus expectations. That did not stop selling in extended trade. (Investing)
A filing showed HubSpot filed its annual report on Form 10-K for the year ended Dec. 31, 2025. (SEC)
What investors are likely to weigh next is less about the quarter just finished and more about the path forward: whether billings can stay firm, whether operating margins hold as HubSpot pushes further “upmarket,” and how quickly the buyback turns from authorization into actual purchases.
HubSpot competes in customer-relationship management and marketing software against larger suites as well as specialist tools. That space has become crowded, and AI features are spreading fast across the stack.
There’s also a downside case. If customer budgets tighten or competitors discount harder, growth could cool and the margin story can fray quickly — especially for companies that lean on sales and marketing to keep momentum.
The next test comes in Thursday’s regular session, when investors decide whether the after-hours drop is a knee-jerk reaction or the start of another leg down for HubSpot stock.
