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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.