HubSpot, Inc.

Good day and thank you for standing by. Welcome to the HubSpot Q2 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your first speaker today, Chuck McClashing, Head of Investor Relations for HubSpot. Thank you. Please go ahead, sir.

Thanks, operator. Good afternoon and welcome to HubSpot's second quarter 2021 earnings conference call. Today, we'll be discussing the results announced in the press release that was issued after the market closed. With me on the call this afternoon is Brian Halligan, our co-founder and newly named executive chairman, Dharmesh Shah, our co-founder and CTO, Yamini Rangan, our chief customer officer and newly named CEO, and Kate Bucher, our chief financial officer. Before we start, I'd like to draw your attention to the safe harbor statement included in today's press release. During this call, we'll make statements related to our business that may be considered forward-looking within the meaning of Section 27A of the Securities Exchange Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements other than statements of historical fact are forward-looking statements, including those regarding management's expectations of future financial and operational performance and operational expenditures, expected growth, the leadership transitions, and business outlook, including our financial guidance for the third fiscal quarter and full year 2021. Forward-looking statements reflect our views only as of today, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements. Please refer to the cautionary language in today's press release and our Form 10-Q, which will be filed with the SEC this afternoon for discussion of the risks and uncertainties that could cause actual results to differ materially from expectations. During the course of today's call, we'll refer to certain non-GAAP financial measures as defined by Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure user discussed And a reconciliation of the differences between such measures can be found within our second quarter 2021 earnings press release in the investor relations section of our website. Now, it's my pleasure to turn over the call to HubSpot's chief customer officer, soon to be chief executive officer, Yamini Rangan. Yamini?

Thanks, Chuck, and greetings, everyone. Thank you for joining us today as we review HubSpot's second quarter 2021 earnings results. I know you've likely seen the exciting news that Brian will be taking on the role of Executive Chairman as of September 7th. We're all looking forward to having Brian back in action and stronger than ever when he returns next month. Brian will be joining the call here in a few minutes to talk about this path forward in this new capacity, as well as to share some reflections on the 15 years that have led us to today's news and this quarter's fantastic results. Before we do that, I want to focus on the business at hand, the great results from last quarter. We continue to operate from a broad position of strength with Q2 revenue growth accelerating to 47% year over year in constant currency and total customers growing 40% year over year to over 121,000. We've seen multi-product adoption grow to over half of our total customers, a great indicator that more companies are realizing the advantage of managing their entire front office on one platform with one data model, one view of their customers, and one user interface that's easy to use. A key driver of this continued growth is digital transformation we're seeing as more companies have had to adapt to doing business online. This shift towards digitally powered customer experiences is one that HubSpot has been evangelizing for the past 15 years. So we've been well positioned to meet the moment. As consumers increasingly expect remarkable digital experiences at each step of their journey, scaling companies need a powerful CRM platform to tie it all together. This makes CRM not just a nice-to-have solution, but an indispensable driver of long-term growth for our customers. A key part of that digital experience is the company website. This is the digital front door. Traditional website content management systems are often siloed from other essential front office functions. They're complex to manage. They lack speed, security, and scalability that companies need to grow their business. That's why we launched CMS Hub Professional and Enterprise last year, and we are continuing to invest in the platform with CMS Hub Starter launched yesterday. CMS Hub Starter is built as part of our CRM platform to give companies seamless access to all of their customer data. Having a CRM powered website enables both marketeers and developers to efficiently work together to build remarkable digital experiences and maximize the revenue generating opportunity. As part of that launch, we also adjusted the pricing of our CMS Hub professional and enterprise tiers to reflect the increased value we are delivering to our customers through SEO enhancements, dynamic pages, site trees, and increased limits and capacity with even more advanced features in the roadmap. We're still in early stages of this launch, but we are confident that CMS Hub Starter will fill a painful gap for marketeers and developers that are looking to spend less time managing their system and more time driving growth. Another important function of digital-first transformation is revenue operations. Last quarter, I talked about the launch of Operations Hub, a new product designed to transform the role of operations professionals and empower them to become strategic drivers of revenue and growth. I'm excited to share that we are continuing to hear positive feedback from customers and partners and that Operations Hub has performed nicely ahead of our internal growth expectations over the past quarter and a half. DataSync, our robust new integration engine, has quickly become one of the most compelling and popular free tools, particularly among small customers, exemplifying how Operations Hub will drive adoption of our CRM platform. We're also seeing strong adoption of programmable automation among larger companies who are looking to take full advantage of their data and deliver personalized experiences to their customers. One of our top solutions partners had this to say about the feature. Programmable automation makes HubSpot significantly more flexible. We've used it to build even the most advanced business processes in HubSpot, from ERP integrations to data enrichment, commissions calculations to renewal communications. With programmable automation in Operations Hub, if you can dream it, you can automate it. Thanks to the team at Aptitude Aid for sharing the feedback. We're so glad that they're seeing value in Operations Hub. Both Operations Hub and CMS Hub Starter are great examples of our commitment to crafting our CRM platform in-house rather than cobbling it together through clunky acquisitions. That focus on delivering a consumer-grade UI matched with a scalable enterprise backend sets us apart from traditional CRM platforms and puts HubSpot in a strong position to achieve our goal of becoming the number one CRM platform for scaling companies. With that, I'll turn it over to Kate to give an overview of our fantastic financial results.