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Public story · 2026-08-16 · high
HubSpot grew revenue 20% and still cut guidance while reworking pricing, even as rivals posted double-digit AI-tied growth, per Saxo Bank.
Why now: Saxo Bank grouped ServiceNow, Adobe, SAP, Shopify, Salesforce and HubSpot's results into one comparison on August 5.
ServiceNow crossed $1 billion in AI annual contract value, with subscription revenue up about 25%, per Saxo Bank.
That gap matters for vendors without a disclosed AI number: HubSpot grew revenue 20% and still cut guidance while it reworks pricing.
Adobe more than tripled AI-first annual recurring revenue and raised its full-year targets in June.
SAP posted 26% constant-currency growth in current cloud backlog.
Shopify grew Q2 revenue 34%, with AI-driven traffic and orders to merchants tripling.
Salesforce started disclosing a new metric this earnings cycle: "agentic work units," the same kind of number ServiceNow, Adobe and Shopify report in dollars.
That's five vendors with an AI number to point to. HubSpot is the only one on this list without one.
Vendors are being repriced on whether they can name an AI revenue line before their input costs get named for them. HubSpot's pricing rework is a bet it can post that number before AI's cost side catches up with it.
Saxo Bank published this comparison on August 5, gathering ServiceNow, Adobe, SAP, Shopify, Salesforce and HubSpot results into one pattern.
Each link below shares sources, entities, or timing with this story.
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