Public Company · HUBS · saas b2b
Annual and trailing-twelve-month customer acquisition cost for HubSpot, Inc. (HUBS), computed live from the company's SEC filings. Every number on this page is sourced and methodologically defended.
$33,836
S&M FY2025 $1.38B ÷ net-new customers 40,767
$35,301
S&M TTM $1.44B ÷ same net-new denominator as annual (no quarterly customer-count disclosure)
“Customers 288,706 247,939 205,091”
S&M expense, last 4 fiscal years
Older years above don't carry a CAC number here because deriving it requires the customer count for both the current year and the prior comparative - only the latest 10-K reliably discloses both. Backfilling earlier CAC values from older 10-Ks is a planned phase-2 improvement.
Methodology
Numerator (S&M). HubSpot, Inc. reports sales & marketing expense each quarter under the XBRL tag us-gaap:SellingAndMarketingExpense. We pull it directly from SEC EDGAR every Monday morning. Annual CAC uses the FY total; trailing-12-month CAC uses a rolling sum of the last four quarters.
Denominator (net-new customers). Customer counts are extracted from the MD&A section of HubSpot, Inc.'s 10-K and 10-Q filings using a Claude-driven structured-extraction prompt against the exact disclosure language. Net-new is the change in customers between the current and prior reporting period.
What this number captures. Fully-loaded blended CAC. S&M includes spend on existing-customer expansion as well as new-logo acquisition; companies don't publicly split that allocation, so neither does this page. Companies with high net-revenue retention will show higher blended CAC than their true new-logo CAC. The trade-off for using only publicly-disclosed numbers is loss of granularity - we surface that explicitly rather than estimate it away.
Compare to industry
HubSpot, Inc. is one company. CAC varies enormously across stage and ACV inside the same industry. The industry overview page links every published cut for Saas B2b, plus the live cohort companies that share the same SEC-fed methodology.
Source
Latest 10-K: HubSpot, Inc., Form 10-K for fiscal year ending Dec 31, 2025 (filed Feb 11, 2026, accession 0001193125-26-046646).
S&M expense pulled from XBRL company facts API. Customer counts extracted from MD&A narrative using Claude Opus 4.7 with the disclosure quote preserved verbatim above.