June 2017 Income Report
I’ll warn you in advance, this isn’t going to be my most interesting update, simply because I had a really busy month, and wasn’t able to focus as much time as I’d have liked on BugMuncher.
On a side note, it’s crazy to think this the 30th part in this series of blog posts, and that it’s approaching 2 years since I started working on BugMuncher full time. But anyway, bring on the numbers!
The Figures
| This Month (June 2017) | Last Month | Change | |
|---|---|---|---|
| Monthly Recurring Revenue | $4,420 | $4,360 | 1.38% |
| Income | £4,368.56 | £2,565.33 | 70.3% |
| Expenses | £2,341.81 | £4,578.20 | 41.3% |
| Average Month on Month Growth | 9.3% | 9.7% | 4.1% |
| Paying customers | 65 | 65 | - |
| - Personal Plan | 21 | 23 | 9.5% |
| - Startup Plan | 34 | 32 | 6.3% |
| - Corporate Plan | 10 | 10 | - |
| Unique users on landing page | 1,794 | 1,952 | 8.1% |
| New Free Trial sign ups | 27 | 38 | 28.9% |
| Free Trial sign up rate | 1.5% | 1.9% | 21.1% |
| New Paying customers | 2 | 7 | 71.4% |
| Lost Paying Customers | 2 | 1 | 100.0% |
| Free Trial to Paying conversion | 7.4% | 18.4% | 59.8% |
| Profit | £2,026.75 | -£2,012.87 | 199.3% |
As you can see, really not a great month, in fact one of my worst. But unlike April, I don’t feel too down about it. It was a very quiet month, low page views, low signups, low conversions, and low churn. Although there was a very small amount of revenue growth, June felt more like stasis.
On the plus side, expenses are way down, and income and profit are way up. But that’s simply because I didn’t buy a new laptop this month, and an up front payment for 12 months reached my bank account.
Expenses
| Supplier | Expense | Amount | USD |
|---|---|---|---|
| Total | £2,341.81 | ||
| Me | Salary | £1,942.93 | - |
| Me | Home office allowance | £57.07 | - |
| Linode | Hosting | £40.04 | $50 |
| Digital Ocean | Hosting | £8.00 | $10.00 |
| SauceLabs | Selenium Servers | £55.19 | $69.00 |
| Pingdom | Uptime monitoring | £9.95 | - |
| Barnstaple Work Hubs | Co-working Space | £180 | - |
| Talktalk | Internet | £37.95 | - |
| O2 | Mobile Phone | £7.33 | - |
| Co-op | Lunch | £3.35 | - |
This was a pretty standard month with expenses, I did buy myself a sandwich again, but it’s been a while since I last did that, and hey, a man’s gotta eat.
Revenue
Unsurprisingly BugMuncher’s revenue growth has flattened off, and once again the 10% growth target is racing ahead.
Plans for July
I said last time that I’d like to write more blog posts, and I did. One more, and it was only a short one, but I’m calling that a success. I also hoped to launch the public API, and while I have finished the development of it, I haven’t made it live yet, so that’s a job for early July.
Other than that, I’m really not sure what my plans for July are. I feel a bit at a loss at the moment. I’m tempted to revive the custom survey questions update I killed a while back, but I’m also feeling a little burned out on BugMuncher. I might instead try to build a quick MVP of another project I’ve been wanting to try for a long time. A change is as good as a rest after all :)
Thanks for reading
- Matt