Issue

Insights

Revenue

What members pay, how it moves month to month and where the next members come from.

MRR
$9,870
▲ 5.2%30 days
ARR
$118.4k
▲ 5.2%
ARPU
$8.13
per paid member / mo
Churn
2.1%
monthly, down from 2.4%
LTV
$387
ARPU ÷ churn

Revenue by month

Collected in each month, split by where it came from

Nov · Member: $4.5kNov · Founding member: $980Nov · Tips: $120Dec · Member: $4.9kDec · Founding member: $1.0kDec · Tips: $310Jan · Member: $5.2kJan · Founding member: $1.0kJan · Tips: $140Feb · Member: $5.6kFeb · Founding member: $1.1kFeb · Tips: $90Mar · Member: $6.0kMar · Founding member: $1.1kMar · Tips: $160Apr · Member: $6.4kApr · Founding member: $1.2kApr · Tips: $110May · Member: $6.7kMay · Founding member: $1.2kMay · Tips: $180Jun · Member: $7.1kJun · Founding member: $1.2kJun · Tips: $130Jul · Member: $7.5kJul · Founding member: $1.2kJul · Tips: $150Aug · Member: $8.0kAug · Founding member: $1.3kAug · Tips: $210Sep · Member: $8.2kSep · Founding member: $1.3kSep · Tips: $170Oct · Member: $8.3kOct · Founding member: $1.3kOct · Tips: $230
  • Member
  • Founding member
  • Tips

MRR movement

Sep 20 – Oct 20, 2026

MovementAmount
Starting MRRSep 20, 2026$9,382
New96 new paid members+$842
Expansion14 upgrades to Founding, 9 to yearly+$214
Churn47 cancellations, 6 failed payments−$568
Net changeEnding MRR $9,870+$488

Upgrade funnel

Last 12 months, from the free list to a paid membership

  1. Free readers17,218
    Everyone on the free list
  2. Engaged6,890
    Opened 6 of the last 8 letters40.0% of previous
  3. Started a trial1,020
    14-day Member trial or checkout14.8% of previous
  4. Paid604
    Became a paying member59.2% of previous

Failed payments

Smart retries and reminder emails, last 30 days

6 retrying

$136recovered of $184

Failed
23
Recovered
17
Rate
74%

By tier

October recurring revenue and share of MRR

TierPriceMembersMRRShare
Member$8 / mo · $80 / yr1,152$8,35085%
Founding member$250 / yr62$1,29013%
TipsOne-off—$2302%
Total1,214$9,870100%