Annual Recurring Revenue
$8.42M
+38.4% year over year
$702K monthly recurring
Revenue Analytics
Platform revenue across subscriptions and trading fees · FY 2026 · through 21 Jul
Trading Fee Revenue
$3.18M
+12.6% year over year
Tracks market volume · inherently cyclical
Net Revenue Retention
114%
+6pp vs last year
Expansion outpacing churn
Monthly Churn
2.4%
+0.3pp vs last quarter
284 accounts lost in July
Revenue by Stream
Monthly revenue split by source
- Total, 12 months
- $11.6M
- Best month
- $968K · Jul 2026
- Compound monthly growth
- +3.5%
- Subscription share
- 68%
Revenue Mix
Share by stream, last 12 months
- Subscriptions $7.89M 68%
- Trading fees $2.78M 24%
- API access $0.70M 6%
- Other $0.23M 2%
Subscription share has grown 9pp this year, reducing exposure to the volume-driven fee line.
Plan Performance
Subscribers, revenue and retention by tier
| Plan | Price | Subscribers | MRR | Growth | Churn | Status |
|---|---|---|---|---|---|---|
|
Institutional Dedicated infrastructure |
$1,499/mo | 86 | $128.9K | +22.4% | 0.4% | Growing |
|
Pro Trader Full AI signal suite |
$149/mo | 2,184 | $325.4K | +18.6% | 1.2% | Growing |
|
Advanced Portfolio analytics |
$49/mo | 4,062 | $199.0K | +9.2% | 2.1% | Growing |
|
Starter Core market data |
$19/mo | 2,418 | $45.9K | −4.8% | 5.6% | Declining |
|
API Access Metered, usage based |
Metered | 312 | $58.4K | +34.2% | 0.9% | Growing |
|
Free Conversion funnel |
$0 | 3,785 | $0 | +28.4% | — | Funnel |
| All plans | — | 12,847 | $757.6K | +14.2% | 2.4% |
Pro Trader and Institutional together are 60% of MRR from only 18% of subscribers. Starter is shrinking with a 5.6% churn rate — it is functioning as a trial tier rather than a product, and the free plan now converts better than it does.
MRR Movement
What moved recurring revenue this month
Expansion revenue ($41K) now exceeds new business ($38K) — the existing base is growing faster than acquisition. Churn and contraction combined cost $24K, comfortably covered.
Unit Economics
Cost and value per customer
- Lifetime value
- $2,458
- Acquisition cost
- $412
- Cost to serve
- $186
- Gross margin
- 82%
- LTV / CAC ratio
- 6.0×
- CAC payback
- 7.0 months
- Avg. revenue per user
- $59/mo
Cohort Retention
Share of each signup cohort still subscribed
| Cohort | M0 | M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 |
|---|---|---|---|---|---|---|---|---|---|
| Nov 2025 | 100 | 91 | 84 | 79 | 76 | 72 | 70 | 68 | 67 |
| Dec 2025 | 100 | 89 | 82 | 78 | 74 | 71 | 69 | 68 | |
| Jan 2026 | 100 | 93 | 87 | 83 | 80 | 78 | 76 | ||
| Feb 2026 | 100 | 92 | 86 | 82 | 79 | 77 | |||
| Mar 2026 | 100 | 94 | 89 | 86 | 84 | ||||
| Apr 2026 | 100 | 95 | 91 | 88 | |||||
| May 2026 | 100 | 96 | 92 |
Month-1 retention
96%
newest cohort
Month-6 retention
76%
up from 70%
Retention curve
Flattening
stabilises near month 6
Best cohort
Apr 2026
88% at month 3