Our software revenue is at a record level, costs have fallen, but unfortunately so has consulting revenue: Welcome to our Open Startup Report for February 2023.
Contents
February at Friendly in Numbers
- 💳 Software revenue: 14 470 CHF (+1%)
- 💵 Consulting revenue: 4 417 CHF (-20%)
- 💸 Costs: 19 335 CHF (-4%)
- 🧾 Loss: -448 CHF (+38%)
- 👩 Active customers: 89 (-)
- 💔 Churn Rate (lost customers): 1.7% (-53%)
- 👋 New trials: 8 (-43%)
- 🔎 Website visits: 3 034 (-12%)
These were the key developments in February:
Revenues: Recurring software revenue increased slightly, consulting revenue decreased
Our monthly recurring revenue from software subscriptions increased for the fourth consecutive month. Compared to January, it increased by +1% to CHF 14 470. This is once again the highest software revenue in our history.
Our consulting revenue fell by -20% to CHF 4 417. Fluctuations in the order situation in this area are unfortunately normal. The largest consulting projects in February were the creation of various email templates in our customers’ corporate design for Friendly Automate and complex integrations of Friendly Analytics.
Our total income amounted to CHF 18 887 – almost CHF 1 000 less than in the previous month due to the decline in consulting.
Costs: decreased due to lower personnel expenses
Our costs fell by -4% to CHF 19 335. We were able to cover a larger part of our consulting with our employees and therefore had to purchase fewer services from freelancers. Commissions to agency partners also fell slightly.
Here are all our costs including salaries for February 2023 in detail:
Conclusion: one step back, two steps forward
On the one hand, our loss has unfortunately increased a bit, but at the same time our next goal of “profitability”, still without my salary, is within reach.
Our main goal is to become really profitable by being able to pay me a fair salary too. Last month was a small step backwards in this respect. However, our feedback from the market and the potential of our software make me confident that we will take some big steps forward again in the future.
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