HubSpot, Inc. logo HUBS - HubSpot, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 38
HOLD 8
SELL 1
STRONG
SELL
0
| PRICE TARGET: $285.14 DETAILS
HIGH: $400.00
LOW: $190.00
MEDIAN: $280.00
CONSENSUS: $285.14
UPSIDE: 41.18%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 881.0 846.3 809.5 760.9 714.1 703.2 669.7 637.2 617.4 581.9 557.6 529.1 501.6 469.7 444.0 421.8 395.6 369.3 339.2 310.8 281.4 252.1 228.4 203.6 199.0 186.2 173.6 163.3 151.8 144.0 131.8 122.6 114.6 106.5 97.7 89.1 82.3 76.4 70.6 65.0 59.0 53.1 47.7 42.9 38.2 34.2 30.4 27.1 24.2 22.4 20.2 18.3 16.7
Cost of Revenue 145.7 137.7 133.5 122.2 115.1 103.3 99.3 95.5 95.1 88.6 85.6 85.0 80.3 80.3 82.1 78.9 72.9 71.6 69.6 62.9 54.7 47.3 42.6 38.8 38.3 36.0 33.3 31.1 29.6 27.4 25.8 24.9 22.4 21.1 19.0 18.6 17.1 16.9 15.8 15.2 14.0 13.7 12.5 11.3 10.5 10.5 9.2 8.3 7.7 7.9 7.4 7.3 6.4
Gross Profit 735.3 708.6 676 638.7 599.0 599.8 570.4 541.7 522.3 493.3 471.9 444.2 421.3 389.4 361.8 342.8 322.7 297.7 269.6 247.9 226.6 204.8 185.8 164.8 160.7 150.2 140.4 132.1 122.2 116.7 106.1 97.7 92.2 85.5 78.7 70.5 65.2 59.6 54.8 49.8 45.0 39.4 35.2 31.7 27.7 23.6 21.2 18.8 16.5 14.5 12.8 11.0 10.3
Operating Expenses
R&D Expenses 234.2 220.8 260.9 237.3 220.1 213.7 191.2 198.2 175.6 163.2 156.9 170.0 127.7 116.3 114.0 118.9 92.7 83.0 78.5 72.1 68.4 55.6 54.5 49.4 46.2 42.8 39.8 40.5 35.2 32.0 30.8 28.5 26.4 22.3 18.8 15.9 13.4 12.8 12.1 11.3 9.8 8.7 8.1 8.2 7.5 11.1 4.9 4.9 4.7 4.1 4.3 3.8 3.4
SG&A Expenses 472.1 439.2 436.0 424.9 405.3 395.8 387.9 366.4 369.1 350.8 332.8 326.5 308.1 286.5 280.0 276.2 241.1 222.9 206.0 192.4 173.3 156.8 146.8 129.1 128.6 115.6 114.6 107.4 96.1 92.5 90.3 83.3 77.2 72.6 72.0 65.2 59.8 60.6 52.6 49.5 45.0 41.2 40.4 34.8 31.6 32.4 26.8 22.1 21.2 18.8 18.0 16.0 15.0
Other Expenses 0 0 (32.2) 1.1 1.1 1.1 1.0 1.1 0.8 3.5 0.8 63.9 28.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 706.3 660.0 664.8 663.3 626.5 610.6 580.0 565.6 545.6 517.6 490.5 560.4 464.3 402.9 394.0 395.1 333.8 305.9 284.5 264.5 241.7 212.4 201.2 178.5 174.8 158.4 154.4 147.8 131.3 124.5 121.1 111.8 103.5 94.9 90.8 81.1 73.2 73.4 64.7 60.8 54.9 49.9 48.5 43.0 39.1 43.6 32.2 27.1 25.9 22.9 22.3 19.8 17.8
Operating Income
Operating Income 29.0 48.6 11.2 (24.6) (27.5) (10.8) (9.6) (23.9) (23.2) (24.3) (18.6) (116.2) (43.0) (13.5) (32.2) (52.2) (11.2) (8.2) (14.9) (16.6) (15.0) (7.6) (15.5) (13.6) (14.1) (8.2) (14.1) (15.7) (9.0) (7.8) (15.1) (14.1) (11.3) (9.4) (12.1) (10.6) (8) (13.8) (10.0) (11.0) (9.9) (10.4) (13.3) (11.3) (11.4) (20.0) (11.0) (8.3) (9.4) (8.4) (9.5) (8.8) (7.6)
Interest Expense 0.2 0 0.0 0.2 0.6 0.9 0.9 0.9 0.9 1.0 0.9 0.9 0.9 0.9 0.9 0.9 0.9 5.9 7.8 7.2 9.4 7.2 7.1 16.8 6.0 5.9 5.8 5.7 5.5 5.5 5.4 5.3 5.2 5.2 5.1 2.8 0.1 0 0.1 0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.1 0.1 0.1 0.0 0 0 0
Interest Income 12.9 13.1 14.2 18.3 20.6 21.8 21.8 20.4 18.7 18.6 16.2 13.5 10.5 7.8 4.7 2.0 0.5 0.1 0.2 0.3 0.5 0.6 1.0 2.1 4.1 4.6 5.2 5.4 4.2 2.8 2.4 2.1 1.8 1.5 1.3 0.7 0.3 0.3 0.2 0.2 0.2 0.2 0.1 0.1 0.0 0.0 0 0.0 0.0 0.0 0.0 0.0 0.0
Profitability
EBITDA 79.8 115.4 25.6 28.0 19.6 42.3 36.6 20.4 29.9 10.9 16.5 (85.9) (16.8) 3.6 (13.2) (39.0) 5.9 2.9 6.6 (5.2) (2.7) 3.4 (5.1) (2.6) (2.4) 4.4 (1.8) (3.9) 2.1 1.5 (6.9) (7.1) (4.7) (3.6) (6.7) (6.3) (4.5) (10.4) (7.3) (8.0) (7.8) (8.2) (11.4) (9.5) (9.0) (18.8) (8.9) (6.6) (8.0) (7.1) (8.4) (8.4) (7.3)
EBIT 39.5 48.6 23.1 (5.2) (9.2) 13.9 11.6 (1.8) 8.7 (8.3) (4.0) (102.3) (33.4) (12.0) (28.7) (53.3) (6.9) (9.1) (4.8) (15.7) (13.9) (6.6) (14.5) (11.6) (11.1) (3.1) (9.0) (11.0) (4.9) (5.4) (12.9) (12.5) (9.8) (8.2) (10.9) (9.9) (7.8) (13.6) (10.1) (11.0) (10.0) (10.1) (13.3) (11.3) (10.8) (19.7) (10.7) (8.2) (9.4) (8.4) (9.5) (8.8) (7.6)
Income Before Tax 39.3 61.7 23.1 (5.5) (9.9) 13.0 10.6 (2.7) 7.7 (9.2) (5.0) (103.2) (34.3) (12.9) (29.7) (54.2) (7.9) (15.0) (12.6) (22.9) (23.3) (13.8) (21.6) (28.4) (17.1) (9.0) (14.7) (16.6) (10.4) (10.9) (18.3) (17.8) (15.0) (13.4) (15.9) (12.8) (7.9) (13.6) (10.2) (11.1) (10.1) (10.1) (13.4) (11.4) (10.8) (19.8) (10.8) (8.3) (9.5) (8.4) (9.5) (8.8) (7.5)
Income Tax Expense 6.7 7.2 6.6 (2.2) 11.9 8.0 2.5 11.8 1.8 4.4 (1.4) 8.6 2.4 2.7 1.7 2.1 1.4 1.4 1.1 1.7 (0.1) 1.6 0.9 1.0 0.7 1.3 0.3 0.7 0.7 0.6 0.4 0.4 0.5 (1.9) (5.4) (3.3) 0.2 0.2 0.3 (0.1) 0.1 0.1 0.2 0.0 0.1 0 0 0 0 0 0 0.0 0.0
Net Income 32.6 54.4 16.5 (3.3) (21.8) 5.0 8.1 (14.4) 5.9 (13.6) (3.6) (111.8) (36.7) (15.6) (31.4) (56.4) (9.3) (16.4) (13.7) (24.6) (23.2) (15.4) (22.5) (29.4) (17.7) (10.3) (15.0) (17.4) (11.1) (11.5) (18.7) (18.2) (15.4) (11.5) (10.6) (9.5) (8.1) (13.8) (10.5) (11.1) (10.2) (10.3) (13.6) (11.4) (10.9) (19.7) (10.8) (8.3) (9.5) (8.4) (9.5) (8.8) (7.5)
Per Share Data
EPS (Basic) 0.62 1.04 0.31 -0.06 -0.42 0.10 0.16 -0.28 0.12 -0.27 -0.07 -2.25 -0.74 -0.32 -0.65 -1.18 -0.20 -0.35 -0.29 -0.53 -0.50 -0.34 -0.49 -0.67 -0.41 -0.24 -0.35 -0.41 -0.27 -0.29 -0.48 -0.48 -0.41 -0.31 -0.29 -0.26 -0.22 -0.39 -0.30 -0.32 -0.29 -0.30 -0.40 -0.34 -0.34 -0.69 -0.36 -0.33 -0.38 -0.34 -0.38 -0.35 -0.30
EPS (Diluted) 0.62 1.04 0.31 -0.06 -0.42 0.09 0.16 -0.28 0.12 -0.27 -0.07 -2.25 -0.74 -0.32 -0.65 -1.18 -0.20 -0.35 -0.29 -0.53 -0.50 -0.34 -0.49 -0.67 -0.41 -0.24 -0.35 -0.41 -0.27 -0.29 -0.48 -0.48 -0.41 -0.31 -0.29 -0.26 -0.22 -0.39 -0.30 -0.32 -0.29 -0.30 -0.40 -0.34 -0.34 -0.69 -0.36 -0.33 -0.38 -0.34 -0.38 -0.35 -0.30
Shares Outstanding 52.5 52.5 53.3 52.7 52.2 51.2 51.4 51.0 50.7 50.3 50.1 49.7 49.4 48.8 48.1 47.8 46.7 46.7 47.0 46.4 46.3 46.0 45.6 43.9 43.2 42.6 42.5 42.1 40.6 39.2 38.8 38.0 37.7 37.3 36.5 36.6 36.2 35.7 35.0 34.6 34.7 34.0 33.8 33.2 31.6 28.9 30.4 25.2 25.2 25.2 25.2 25.2 25.2
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 943.9 882.2 614.4 601.2 625.0 512.7 410.1 797.9 447.8 388.0 535.5 457.2 325.2 331.0 331.7 305.7 408.4 377.0 288.3 338.3 397.5 378.1 124.9 201.1 229.1 269.7 225.8 238.1 285.1 111.5 96.1 98.4 154.0 87.7 176.7 175.6 69.8 59.7 61.4 58.7 53.0
Short-Term Investments 747.1 821.6 871.5 1,068.3 1,417.8 1,556.8 1,527.9 937.8 1,070.9 1,000.2 1,061.5 1,071.9 1,159.6 1,081.7 952.7 940.4 826.4 821.0 882.3 875.4 782.3 873.1 1,059.6 935.0 739.4 691.8 722.8 717.1 684.0 480.8 465.2 451.8 375.4 416.7 315.1 316.8 53.0 54.6 52.6 58.8 54.6
Net Receivables 354.9 419.1 314.5 321.1 294.5 334.8 278.9 269.9 266.9 295.3 212.4 206.7 197.5 226.8 166.7 165.9 152.7 157.4 126.7 117.0 109.6 126.4 94.1 86.2 81.1 92.5 77.6 73.0 69.2 77.1 63.1 53.5 54.2 60.7 48.8 38.5 34.9 39.0 30.4 25.6 25.1
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 395.6 100.6 313.9 318.8 276.6 229.3 221.8 230.6 199.7 188.0 165.5 172.0 139.8 115.1 65.0 63.5 63.2 59.8 57.5 52.9 47.3 44.6 39.7 36.1 33.2 32.1 35.1 34.7 31.9 28.8 23.9 41.7 34.3 18.1 29.0 31.4 19.8 17.6 18.4 17.3 16.5
Total Current Assets 2,441.6 2,223.6 2,114.3 2,309.5 2,613.9 2,633.6 2,438.7 2,236.2 1,985.3 1,871.5 1,974.9 1,907.8 1,822.1 1,754.6 1,561.1 1,531.8 1,491.1 1,453.6 1,411.1 1,426.3 1,368.2 1,456.9 1,358.8 1,296.3 1,112.8 1,109.7 1,081.2 1,082.9 1,083.5 712.4 666.5 647.0 619.5 602.5 571.0 563.8 179.8 176.3 164.1 161.7 151.7
Non-Current Assets
Property, Plant & Equipment 342.3 342.7 344.6 346.0 339.8 330.4 336.9 334.3 346.6 354.4 359.4 367.0 417.1 424.5 354.1 366.2 379.3 377.0 380 355.2 358.4 377.0 374.2 360.5 316.2 318.0 279.8 283.5 214.1 52.5 51.9 49.3 47.7 43.3 40.6 37.6 34.7 30.2 29.0 28.0 26.9
Goodwill 300.3 291.5 274.8 274.7 255.0 209.5 174.2 173.6 173.7 173.8 46.0 46.5 46.5 46.2 45.0 45.9 46.8 47.1 47.4 47.8 47.6 31.3 30.6 29.9 30.0 30.2 14.9 14.9 14.9 14.9 14.9 14.9 14.9 14.9 14.9 9.8 9.8 9.8 9.8 9.8 9.8
Intangible Assets 254.0 249.0 36.9 231.1 210.6 192.0 180.0 169.4 159.4 148.5 110.0 102.4 89.8 81.2 74.4 69.0 54.0 50.4 49.1 45.2 40.2 35.2 32.9 31.5 29.7 28.5 17.7 16.9 17.5 17.7 18.3 17.7 16.1 15.1 14.9 7.8 7.1 6.5 5.9 5.0 5.2
Long-Term Investments 87.5 262.4 172.2 191.3 176.6 154.2 165.6 210.0 311.5 325.7 150.9 146.2 121.8 112.8 152.7 162.7 195.0 174.9 114.7 83.8 106.0 30.7 43.5 61.1 66.2 53.8 59.8 38.6 14.5 11.4 13.2 16.4 28.1 31.4 35.7 41.9 37.8 35.7 37.7 30.5 35.1
Other Non-Current Assets 403.6 485.0 559.5 331.4 300.5 276.1 261.7 232.5 216.6 197.4 174.4 159.2 146.6 125.4 109.6 98.5 87.1 71.9 63.2 60.4 49.4 42.2 35.4 31.7 31.7 28.9 25.5 26.7 25.6 25.0 20.8 19.5 16.5 5.0 9.2 6.7 6.1 1.3 1.4 1.5 1.3
Total Non-Current Assets 1,387.6 1,630.6 1,388.0 1,374.5 1,282.4 1,162.2 1,118.4 1,119.8 1,207.9 1,199.9 840.7 821.2 821.7 790.1 735.8 742.2 762.2 721.3 654.4 592.3 601.6 516.4 516.6 514.7 473.8 459.5 397.6 380.6 286.7 121.5 119.2 117.8 123.4 109.7 115.3 103.7 95.5 83.5 83.7 74.8 78.3
Total Assets 3,829.3 3,854.2 3,502.4 3,684.0 3,896.3 3,795.8 3,557.1 3,356.0 3,193.1 3,071.4 2,815.6 2,729.1 2,643.8 2,544.7 2,296.9 2,274.0 2,253.3 2,174.9 2,065.5 2,018.6 1,969.8 1,973.4 1,875.4 1,811.0 1,586.5 1,569.3 1,478.9 1,463.5 1,370.1 834.0 785.6 764.8 743.0 712.2 686.3 667.5 275.3 259.8 247.8 236.5 230.0
Current Liabilities
Account Payables 53.4 24.8 24.9 12.5 22.2 3.6 5.3 4.1 7.9 9.1 16.8 3.1 3.0 20.9 13.3 11.8 8.3 2.8 1.9 12.2 17.9 13.5 14.1 10.8 10.7 12.8 14.9 13.3 14.9 7.8 8.8 5.7 5.2 4.7 4.7 2.9 3.3 4.3 3.0 2.7 2.7
Short-Term Debt 0 39.7 38.7 0 368.9 458.2 457.7 457.2 0 0 0 0 0 0 0 0 19.4 19.6 21.3 64.8 11.8 7.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 1,037.6 1,010.8 887.7 888.3 836.3 784.3 719.6 708.1 696.9 672.1 578.3 585.9 571.8 539.9 468.5 469.6 457.9 430.4 372.4 358.8 336.2 312.9 256.0 238.1 238.9 231.0 200.8 195.5 191.2 183.3 160.5 151.9 148.5 136.9 118.4 109.9 104.4 95.4 83.3 76.5 73.3
Other Current Liabilities 107.9 161.0 148.6 96.6 86.4 67.4 83.6 61.2 68.8 53.5 79.5 69.8 70.6 10.2 63.4 55.8 60.6 63.8 64.3 52.0 44.9 44.1 40.1 26.5 23.8 26.3 23.9 20.2 21.4 23.6 19.2 14.9 14.7 16.3 11.8 12.8 9.0 10.6 10.5 11.6 9.1
Total Current Liabilities 1,517.7 1,467.5 1,316.0 1,286.8 1,577.1 1,573.4 1,488.5 1,437.3 959.6 942.0 839.2 847.5 810.4 761.7 668.2 662.2 662.0 617.5 549.8 563.9 482.2 445.5 372.4 333.4 327.4 322.5 280.9 272.9 268.6 237.0 211.3 198.2 192.4 178.3 160.6 153.7 135.6 127.4 115.0 107.0 100.7
Non-Current Liabilities
Long-Term Debt 0 222.6 0 0 0 0 0 0 456.7 456.2 455.7 455.2 454.7 454.2 453.7 453.2 452.7 383.1 378.8 373.9 432.6 471.1 474.0 467.5 346.3 340.6 335.0 329.5 324.0 318.8 313.6 308.4 303.4 298.4 293.6 288.8 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 97.5 (133.3) 90.6 83.2 60.5 55.6 46.7 40.1 38.2 36.5 28.5 25.8 17.8 14.5 12.4 18.4 22.0 12.1 11.8 12.1 11.4 10.8 9.7 8.8 8.9 9.0 6.2 5.6 5.0 31.3 29.3 28.6 23.9 22.8 21.8 19.6 13.9 12.2 9.5 8.2 7.4
Total Non-Current Liabilities 314.7 320.4 330.5 332.1 314.7 314.1 316.6 317.9 784.4 795.0 790.1 799.2 787.0 790.9 722.0 740.3 757.5 683.6 683.7 649.0 712.9 765.2 770.2 754.5 598.2 596.8 569.6 572.4 502.5 352.3 344.9 338.9 329.5 323.5 317.2 310.1 15.3 13.7 10.7 9.1 8.4
Total Liabilities 1,832.5 1,787.9 1,646.5 1,618.9 1,891.8 1,887.5 1,805.2 1,755.1 1,744.0 1,737.0 1,629.3 1,646.6 1,597.4 1,552.5 1,390.2 1,402.5 1,419.5 1,301.1 1,233.5 1,212.9 1,195.1 1,210.7 1,142.6 1,087.9 925.5 919.3 850.5 845.3 771.1 589.3 556.2 537.2 521.9 501.8 477.8 463.8 150.9 141.1 125.6 116.1 109.0
Stockholders' Equity
Common Stock 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings (721.3) (753.9) (808.3) (824.9) (821.6) (799.8) (804.8) (812.9) (798.5) (804.4) (805.1) (799.6) (680.7) (642.4) (626.7) (595.3) (539.0) (561.0) (544.6) (530.9) (506.3) (483.2) (467.7) (445.2) (415.8) (398.1) (387.8) (372.8) (355.5) (344.4) (332.9) (314.2) (295.7) (286.1) (274.5) (264.0) (254.4) (245.9) (232.1) (221.6) (210.5)
Accumulated Other Comprehensive Income 1.8 5.2 5.8 5.4 (2.7) (5.7) 5.6 (4.8) (3.0) 1.8 (9.4) (8.4) (7.8) (12.9) (17.5) (11.0) (5.7) (1.3) 0.6 2.2 1.9 4.6 2.2 0.5 (0.8) (0.3) (0.9) 0.2 (0.6) (0.7) (0.8) (0.7) (0.1) (0.1) 0.1 (0.3) (0.7) (0.9) (0.5) (0.4) (0.3)
Total Stockholders' Equity 1,996.8 2,066.2 1,855.8 2,065.1 2,004.5 1,908.3 1,751.9 1,600.9 1,449.1 1,334.3 1,186.3 1,082.5 1,046.4 992.2 906.7 871.5 833.8 873.8 832.0 805.7 774.7 762.7 732.9 723.1 661.0 650.0 628.4 618.1 599.0 244.6 229.4 227.6 221.1 210.4 208.5 203.7 124.3 118.7 122.2 120.5 121.0
Total Liabilities & Equity 3,829.3 3,854.2 3,502.4 3,684.0 3,896.3 3,795.8 3,557.1 3,356.0 3,193.1 3,071.4 2,815.6 2,729.1 2,643.8 2,544.7 2,296.9 2,274.0 2,253.3 2,174.9 2,065.5 2,018.6 1,969.8 1,973.4 1,875.4 1,811.0 1,586.5 1,569.3 1,478.9 1,463.5 1,370.1 834.0 785.6 764.8 743.0 712.2 686.3 667.5 275.3 259.8 247.8 236.5 230.0
Debt Metrics
Total Debt 247.3 484.9 271.9 280.5 655.1 745.4 758.0 763.2 774.1 787.8 787.1 800.0 797.3 806.3 736.6 746.2 781.1 713.0 714.8 729.7 740.7 788.6 787.7 772.5 610.5 608.4 576.2 579.6 511.2 318.8 313.6 308.4 303.4 298.4 293.6 289.9 1.1 1.1 1.0 1.0 0.9
Net Debt (696.6) (397.3) (342.4) (320.7) 30.1 232.7 347.9 (34.7) 326.3 399.8 251.6 342.8 472.2 475.3 404.9 440.5 372.7 336.0 426.5 391.4 343.2 410.5 662.8 571.5 381.3 338.7 350.5 341.5 226.0 207.3 217.4 210.0 149.3 210.8 116.8 114.2 (68.7) (58.6) (60.4) (57.7) (52.1)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 32.6 54.4 16.5 (3.3) (21.8) 5.0 8.1 (14.4) 5.9 (13.6) (5.5) (118.9) (36.6) (15.6) (31.4) (56.4) (9.3) (16.4) (13.7) (24.6) (23.2) (15.4) (22.5) (29.4) (17.7) (10.3) (15.0) (17.4) (11.1) (11.5) (18.7) (18.2) (15.4) (11.5) (10.6) (9.5) (8.1) (13.8) (10.5) (11.1) (10.2)
Depreciation & Amortization 40.2 38.6 35.7 33.2 28.8 28.4 25.0 22.2 21.2 19.2 20.5 16.4 16.6 15.5 15.6 14.3 12.8 12.0 11.5 10.5 11.2 10.0 9.4 9.0 8.7 7.5 7.2 7.1 7.0 6.9 6 5.4 5.1 4.7 4.1 3.6 3.3 3.2 2.8 3.0 2.2
Stock-Based Compensation 115.7 132.4 138.1 141.0 116.7 134.4 130.3 129.0 111.1 113.7 107.5 128.0 83.0 76.8 72.2 81.2 45.7 45.9 45.0 43.4 32.4 31.5 31.2 31.4 27.5 24.1 23.8 28.7 21.2 20.9 19.6 19.7 16.0 12.9 12.1 13.0 9.3 9.3 8.7 8.5 6.2
Change in Working Capital 14.4 33.9 3.2 11.1 47.3 37.2 (7.5) (5.8) 13.2 (8.1) (21.4) (6.3) 23.6 13.8 8.0 0.9 35.7 49.7 11.2 5.0 43.7 30.8 14.9 (10.3) 0.5 25.0 2.2 (6.2) 18.4 13.2 0.9 2.1 16.4 5.4 2.4 1.4 12.9 2.0 3.5 7.2 3.8
Other Non-Cash Items (4.0) (12.2) (6.1) (17.8) (9.1) (14.1) 4.0 (13.1) (24.3) (7.1) (12.2) 52.6 (5.6) 1.0 (4.1) 1.1 (2.4) 5.5 (11.0) 3.9 (0.4) 5.6 6.0 (34.2) 4.3 2.4 1.3 1.6 2.2 3.6 3.7 4.4 4.5 5.0 5.3 3.7 1.7 1.6 0.9 1.2 1.1
Operating Cash Flow 198.8 247.4 187.4 164.4 161.6 194.1 159.5 117.8 127.1 104.3 89.0 76.5 81.1 90.0 60.1 40.9 82.2 95.2 42.7 38.2 62.7 60.9 38.7 (33.7) 23.0 47.9 19.7 13.7 37.7 33.1 11.5 13.5 26.7 14.0 7.8 8.7 19.1 2.3 5.3 8.6 3.2
Investing Activities
Capital Expenditure (15.4) (43.7) (10.3) (16.0) (13.3) (12.7) 31.9 (29.6) (27.5) (25.9) (28.5) (27.4) (18.4) (19.0) (24.5) (28.5) (19.7) (18.8) (15.9) (15.9) (11.3) (15.5) (13.3) (14.2) (15.9) (23.5) (13.0) (10.3) (7.1) (8.1) (8.3) (8.3) (8.9) (7.0) (6.0) (7.0) (7.4) (4.0) (3.7) (5.7) (8.1)
Acquisitions (8.3) (16.1) (1.6) (18.5) (51.4) (36.5) (3.9) 0 0 (141.9) (2.2) 0 0 (1.2) (1.6) (0.2) 0 0 0 (0.8) (19.1) (0.5) 0 0 0 (23.3) (0.2) (0.4) 0 0 (0.1) 0 (0.2) 0 (11.6) 0 0 0 0 0 0
Purchases of Investments (364.5) (263.9) (363.7) (163.7) (685.4) (515.2) (838.6) (255.9) (399.4) (446.4) (409.2) (369.1) (368.2) (255.4) (400.9) (437.3) (440.6) (450.3) (387.3) (296.1) (364.1) (140.4) (411.4) (528.1) (439.9) (336.9) (370.4) (211.7) (386.5) (157.0) (158.6) (155.4) (211.1) (318.1) (269.6) (289.5) (16.4) (7.8) (23.2) (12.1) (9.0)
Sales/Maturities of Investments 487.7 354.2 580.4 502.4 803.1 503.0 308.0 496.8 352.8 347.8 424.9 441.9 288.0 167.2 391.9 345.2 405.2 459.3 344.2 219.7 376.9 339.0 303.3 338.1 382.9 376.8 347.2 158.9 183.5 145.5 150.3 92.3 256.2 220.6 276 21.2 15.9 7.5 22.0 12.5 8.9
Other Investing Activities (34.9) (30.3) (34.5) (35.7) (30.4) (24.1) (23.6) (19.5) (21.6) (17.2) (17.7) (16.5) (15.1) (13.0) (11.4) (20.2) (9.7) (7.5) (9.2) (9.1) (7.3) (5.5) (5.5) (5.4) (4.8) (4.3) (3.6) (2.2) (2.8) (2.4) (2.9) (3.2) (2.4) (1.8) 0.2 (1.7) (1.6) (1.7) (1.7) (1.1) (1.4)
Investing Cash Flow 64.6 30.4 170.2 268.6 22.6 (85.5) (569.4) 213.2 (74.1) (266.4) (15.0) 45.4 (98.7) (108.5) (35.1) (121.0) (55.0) (9.8) (59.0) (93.1) (17.6) 183.1 (121.5) (204.3) (72.9) (6.9) (36.1) (63.0) (210.1) (19.5) (16.6) (71.4) 36.3 (104.4) (9.0) (275.4) (12.4) (4.5) (4.9) (5.4) (8.2)
Financing Activities
Net Debt Issuance 0 0 0 (369.2) (90.6) (0.1) 0 0 0 (0.0) 0 0 0 0 0 (19.3) (1.6) (9.1) (35.0) (9.5) (35.9) (1.6) (0.5) 200.6 (0.0) (0.4) (0.0) (0.1) (0.1) (0.2) (0.2) (0.2) (0.2) (0.3) (0.3) 389.0 (0.2) (0.2) (0.2) (0.2) (0.1)
Stock Repurchased (206.7) (14.7) 0 (125.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.4) (1.0)
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (5.8) (3.4) (4.4) (4.7) (9.1) (4.2) (4.3) (4.7) (8.8) (3.1) (3.5) (2.9) (1.2) (1.6) (2.2) (3.4) (4.4) 2.5 (4.8) (3.9) (2.2) (1.7) (2.4) (1.3) (0.9) (1.5) (2.0) (1.7) (1.1) (2.1) (1.9) (1.7) (2.3) 57.6 (1.1) (79.9) (1.2) (0.5) (0.5) 3.2 3.0
Financing Cash Flow (196.2) (9.5) (340.6) (479.6) (80.3) 10.1 11.7 20.6 11.2 6.6 9.9 10.4 10.1 8.6 7.8 (14.9) 5.9 5.8 (30.6) (4.9) (21.8) 4.8 4.1 207.7 5.9 2.8 6.1 3.2 347.2 2.5 3.1 3.6 3.6 1.1 1.6 371.1 2.9 1.7 2.3 2.6 1.9
Cash Position
Net Change in Cash 61.7 267.9 13.2 (25.2) 112.4 102.6 (387.8) 350.1 59.8 (146.7) 78.3 132.1 (5.9) (0.5) 26.0 (102.8) 31.4 88.7 (50.0) (59.2) 19.4 253.2 (76.2) (28.6) (45.8) 45.2 (12.3) (45.5) 174.0 15.4 (2.3) (55.9) 67.2 (89.1) 1.1 105.8 10.1 (1.7) 2.8 5.6 (2.6)
Cash at Beginning 884.9 617.1 603.9 629.1 516.7 414.1 801.9 447.8 388.0 538.7 460.4 328.3 334.2 334.7 308.7 411.5 380.0 291.4 341.4 400.5 381.2 127.9 204.1 232.7 278.5 233.3 245.6 291.1 117.1 101.7 104.1 160.0 92.8 176.7 175.6 69.8 59.7 61.4 58.7 53.0 55.6
Cash at End 946.6 884.9 617.1 603.9 629.1 516.7 414.1 797.9 447.8 392.0 538.7 460.4 328.3 334.2 334.7 308.7 411.5 380.0 291.4 341.4 400.5 381.2 127.9 204.1 232.7 278.5 233.3 245.6 291.1 117.1 101.7 104.1 160.0 87.7 176.7 175.6 69.8 59.7 61.4 58.7 53.0
Free Cash Flow 183.4 203.7 177.0 148.3 148.2 181.4 191.5 88.2 99.6 78.4 60.5 49.2 62.6 70.9 35.5 12.4 62.6 76.4 26.8 22.3 51.4 45.4 25.3 (47.9) 7.1 24.4 6.7 3.4 30.6 25.1 3.2 5.2 17.9 7.0 1.8 1.8 11.6 (1.7) 1.5 2.9 (4.9)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 881.0 846.3 809.5 760.9 714.1 703.2 669.7 637.2 617.4 581.9 557.6 529.1 501.6 469.7 444.0 421.8 395.6 369.3 339.2 310.8 281.4 252.1 228.4 203.6 199.0 186.2 173.6 163.3 151.8 144.0 131.8 122.6 114.6 106.5 97.7 89.1 82.3 76.4 70.6 65.0 59.0 53.1 47.7 42.9 38.2 34.2 30.4 27.1 24.2 22.4 20.2 18.3 16.7
Gross Profit 735.3 708.6 676 638.7 599.0 599.8 570.4 541.7 522.3 493.3 471.9 444.2 421.3 389.4 361.8 342.8 322.7 297.7 269.6 247.9 226.6 204.8 185.8 164.8 160.7 150.2 140.4 132.1 122.2 116.7 106.1 97.7 92.2 85.5 78.7 70.5 65.2 59.6 54.8 49.8 45.0 39.4 35.2 31.7 27.7 23.6 21.2 18.8 16.5 14.5 12.8 11.0 10.3
Operating Income 29.0 48.6 11.2 (24.6) (27.5) (10.8) (9.6) (23.9) (23.2) (24.3) (18.6) (116.2) (43.0) (13.5) (32.2) (52.2) (11.2) (8.2) (14.9) (16.6) (15.0) (7.6) (15.5) (13.6) (14.1) (8.2) (14.1) (15.7) (9.0) (7.8) (15.1) (14.1) (11.3) (9.4) (12.1) (10.6) (8) (13.8) (10.0) (11.0) (9.9) (10.4) (13.3) (11.3) (11.4) (20.0) (11.0) (8.3) (9.4) (8.4) (9.5) (8.8) (7.6)
Net Income 32.6 54.4 16.5 (3.3) (21.8) 5.0 8.1 (14.4) 5.9 (13.6) (3.6) (111.8) (36.7) (15.6) (31.4) (56.4) (9.3) (16.4) (13.7) (24.6) (23.2) (15.4) (22.5) (29.4) (17.7) (10.3) (15.0) (17.4) (11.1) (11.5) (18.7) (18.2) (15.4) (11.5) (10.6) (9.5) (8.1) (13.8) (10.5) (11.1) (10.2) (10.3) (13.6) (11.4) (10.9) (19.7) (10.8) (8.3) (9.5) (8.4) (9.5) (8.8) (7.5)
EPS (Diluted) 0.62 1.04 0.31 -0.06 -0.42 0.09 0.16 -0.28 0.12 -0.27 -0.07 -2.25 -0.74 -0.32 -0.65 -1.18 -0.20 -0.35 -0.29 -0.53 -0.50 -0.34 -0.49 -0.67 -0.41 -0.24 -0.35 -0.41 -0.27 -0.29 -0.48 -0.48 -0.41 -0.31 -0.29 -0.26 -0.22 -0.39 -0.30 -0.32 -0.29 -0.30 -0.40 -0.34 -0.34 -0.69 -0.36 -0.33 -0.38 -0.34 -0.38 -0.35 -0.30
Balance Sheet
Cash & Equivalents 943.9 882.2 614.4 601.2 625.0 512.7 410.1 797.9 447.8 388.0 535.5 457.2 325.2 331.0 331.7 305.7 408.4 377.0 288.3 338.3 397.5 378.1 124.9 201.1 229.1 269.7 225.8 238.1 285.1 111.5 96.1 98.4 154.0 87.7 176.7 175.6 69.8 59.7 61.4 58.7 53.0
Total Assets 3,829.3 3,854.2 3,502.4 3,684.0 3,896.3 3,795.8 3,557.1 3,356.0 3,193.1 3,071.4 2,815.6 2,729.1 2,643.8 2,544.7 2,296.9 2,274.0 2,253.3 2,174.9 2,065.5 2,018.6 1,969.8 1,973.4 1,875.4 1,811.0 1,586.5 1,569.3 1,478.9 1,463.5 1,370.1 834.0 785.6 764.8 743.0 712.2 686.3 667.5 275.3 259.8 247.8 236.5 230.0
Total Debt 247.3 484.9 271.9 280.5 655.1 745.4 758.0 763.2 774.1 787.8 787.1 800.0 797.3 806.3 736.6 746.2 781.1 713.0 714.8 729.7 740.7 788.6 787.7 772.5 610.5 608.4 576.2 579.6 511.2 318.8 313.6 308.4 303.4 298.4 293.6 289.9 1.1 1.1 1.0 1.0 0.9
Stockholders' Equity 1,996.8 2,066.2 1,855.8 2,065.1 2,004.5 1,908.3 1,751.9 1,600.9 1,449.1 1,334.3 1,186.3 1,082.5 1,046.4 992.2 906.7 871.5 833.8 873.8 832.0 805.7 774.7 762.7 732.9 723.1 661.0 650.0 628.4 618.1 599.0 244.6 229.4 227.6 221.1 210.4 208.5 203.7 124.3 118.7 122.2 120.5 121.0
Cash Flow
Operating Cash Flow 198.8 247.4 187.4 164.4 161.6 194.1 159.5 117.8 127.1 104.3 89.0 76.5 81.1 90.0 60.1 40.9 82.2 95.2 42.7 38.2 62.7 60.9 38.7 (33.7) 23.0 47.9 19.7 13.7 37.7 33.1 11.5 13.5 26.7 14.0 7.8 8.7 19.1 2.3 5.3 8.6 3.2
Capital Expenditure (15.4) (43.7) (10.3) (16.0) (13.3) (12.7) 31.9 (29.6) (27.5) (25.9) (28.5) (27.4) (18.4) (19.0) (24.5) (28.5) (19.7) (18.8) (15.9) (15.9) (11.3) (15.5) (13.3) (14.2) (15.9) (23.5) (13.0) (10.3) (7.1) (8.1) (8.3) (8.3) (8.9) (7.0) (6.0) (7.0) (7.4) (4.0) (3.7) (5.7) (8.1)
Free Cash Flow 183.4 203.7 177.0 148.3 148.2 181.4 191.5 88.2 99.6 78.4 60.5 49.2 62.6 70.9 35.5 12.4 62.6 76.4 26.8 22.3 51.4 45.4 25.3 (47.9) 7.1 24.4 6.7 3.4 30.6 25.1 3.2 5.2 17.9 7.0 1.8 1.8 11.6 (1.7) 1.5 2.9 (4.9)