September 2017 Income Report

Fucking hell! September was a crazy month for BugMuncher, and not in a good way. Based on August, and how I knew I wouldn’t be dedicating much time to BugMuncher in September, I didn’t expect to have a very good month, but what I wasn’t expecting was my most active month in terms of subscribers.

The Figures

  This Month (September 2017) Last Month Change
Monthly Recurring Revenue $4,014 $4,361 8.0%
Income £2,687.39 £2,986.83 10.0%
Expenses £2,617.31 £2,535.64 3.2%
Paying customers 61 64 4.7%
- Personal Plan 22 21 4.8%
- Startup Plan 30 33 9.1%
- Corporate Plan 9 10 10.0%
Unique users on landing page 2,702 4,000 32.5%
New Free Trial sign ups 23 26 11.5%
Free Trial sign up rate 0.9% 0.7% 28.6%
New Paying customers 6 5 20.0%
Lost Paying Customers 9 5 80.0%
Free Trial to Paying conversion 26.1% 19.2% 36.0%
Profit £70.08 £451.19 84.5%

So there you have it, BugMuncher’s worst month since I started working on it full time 2 years ago. Look at all those red rows! I seem to be hemorrhaging subscribers again, and once again, most of them are simply because they only intended to use BugMuncher for a predefined period of time.

Ignoring the ridiculous churn for a second, 6 new paying subscribers is actually pretty good for me, especially as I wasn’t really focusing on BugMuncher this month. I managed to stay in profit, but barely.


Supplier Expense Amount USD
Total £2,617.31
Me Salary £2,142.93 -
Me Home office allowance £57.07 -
Linode Hosting £39.36 $50
Digital Ocean Hosting £7.97 $10.00
SauceLabs Selenium Servers £55.02 $69.00
Pingdom Uptime monitoring £9.95 -
Barnstaple Work Hubs Co-working Space £180 -
Plusnet Internet £12.01 -
O2 Mobile Phone £14.00 -
Xero Accounting Software £33.00 -
TTCA Accountants £66.00 -

Expenses were pretty standard again, I’ve started using Xero to manage my accounts, instead of the mammoth spreadsheet I had been using previously. It’s fairly expensive at £33 / month, as I need the top level plan due to BugMuncher operating in multiple currencies, but considering the time it saves me, Xero is definitely worth it.


Oh dear, that graph has taken a pretty sad turn for the worse.

Plans for October

So as I said last time, September was always going to be a bad month for BugMuncher, as I had other things to focus on, including my marriage! That’s right, I’m now a happily married man, and Sophie and I were able to finish the car restoration in time for it to be our wedding car.

So now the real work begins, having spent a couple of months off from BugMuncher I’m actually really excited to be working on BugMuncher again. I’m going to be attacking BugMuncher from two angles: The first is to try and address the lack of revenue growth by improving onboarding and usability.

I’m also going to revive the previously cancelled custom survey questions feature, which I hope will help the churn issue by making BugMuncher into a tool more suited to indefinite use on live sites, rather than just short term use while a site is in development of beta testing.

Thanks for reading

- Matt