"Intangible assets" are assets that have significant value but no physical presence and provide long-term financial value to a company. The company's identifiable intangible assets are those that can be sold independently, separated from other assets, and evaluated. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate the products or services of one company from those of other companies. Intellectual property rights offer protection for trademarks. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
HubSpot’s gross value of intangible assets dipped from $18.40 million in FY2020 to $17.59 million in FY2021, a decrease of 4.42%. In FY2021, the company's net value of intangible assets was $10.57 million. Trade names and Acquired technology accounted for $0.02 million and $17.57 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $1.3 million in FY2021.
Hustle Con Media, Inc., a media company that creates a newsletter, podcast, and premium research content for creative professionals, was acquired by the company for 100% of its equity interests. The total cash purchase price for the acquisition was $17.2 million, net of cash acquired, which included an upward working capital adjustment of $0.4 million. Customer relationships were the main intangible asset obtained when the company was acquired, and their fair value of $2.4 million was determined using the excess profits technique based on the estimated present value of anticipated after-tax cash flows attributable to subscribers.
CRM Platform is a single-code, multi-tenant, and internationally accessible software-as-a-service offering that may be accessed via mobile or online browsers. The company sells CRM Platform on a subscription basis, total revenue increased to $1.3 billion in 2021, from $883.0 million in 2020 representing a year-over-year increase of 47% in 2021. For FY2021, subscription revenue made up 97% of the overall revenue.
HubSpot Inc (HubSpot) carries out the provision of cloud-based marketing and sales software platforms for businesses. The company provides social media, search engine optimization, blogging, SEO tools, website content management, marketing automation, email, reporting and analytics, and customer relationship management (CRM) software. Its software includes Marketing Hub, Sales Hub, Service Hub, CMS Hub, and Operations Hub. HubSpot provides services such as onboarding, consulting, training and support services, classroom training, home services, technical project services, integration support, designated support, and email template rebuild services. The company operates in Singapore, Colombia, Belgium, the UK, Japan, Germany, Ireland, Australia, France, and Canada.
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