It’s been too long!
I used to be pretty good at diligently posting our financial updates every quarter. But ever since we’ve moved to a monthly all-hands meeting cadence, I’ve really struggled to keep my posts coming. The new format is typically more focused and timely (which is why we moved to monthly) but meetings were often a bit too narrow to be share-worthy.
Until now. We’re reorganised internally, and put some more effort on reporting again, so here’s finally a nice new update that doesn’t require me to do a lot of editing.
Main revenue numbers
General company internals aside, the most beloved charts are these two.
About these bar charts: It’s important to understand that Q2 and Q3 are typically our weakest quarters. Just because our Q1 was awesome doesn’t mean our numbers are now going down 🙂
Also, one of our goals is to have fewer tiny customers. Based on experience, we just see too much churn in companies of 10-30 people because there is simply not a dedicated HR person to manage SI. So we’ve enacted minimum pricing a year ago, and subsequently we lose existing small clients due to churn, but don’t backfill them. Hence the stagnation in customers, while the MRR goes up:
But yes, our growth could definitely be better. We’re currently looking at a 20% annual growth for 2016, and that number is too low. We’re still wildly profitable and we’ll again be donating 2% of our annual revenues to good causes. No worries on that end. And since we don’t have investors, we’re not getting slammed for “too bad growth” and we’re certainly not doing anything silly just to get the numbers up.
But still, stuff needs to happen – and we’re at it. We have recently reorganised our “unified sales, customer success, marketing and support” team into three independent units: CS is now a real team, so is marketing, and we’ve grown the combined Sales & Support team so that there’s far more capacity for following up on leads. The teams are still tiny, and we especially want to hire 2 people into marketing asap.
Beyond that, several very interesting product improvements are in the pipeline, and the website is in for a major overhaul. So overall, despite the so-so numbers the outlook is very positive.
The slides are lightly edited, we removed customer names and we dropped two features that we’re working on. Other than that, it’s exactly as presented on Monday this week, giving you a fairly good overview of how we’re working internally.