Hey @ozgesilla
Yes, your assumption is correct.
In HubSpot Ads, the “contacts” count only includes new contacts who were first created in the CRM as a direct result of the ad (e.g., clicked the ad and filled out a form).
If an existing contact interacts with the ad, like submitting a form, they won’t be counted in the Ads report because they weren’t originally created through that ad campaign.
To see the impact on existing contacts, you’d need to use attribution reports or track engagement using UTM parameters or campaign associations.
Regards,
Himanshu Rauthan