Prepared: 12 Feb 2026 | Data through: Jan 2026 (Stripe invoices), Oct 2025 (billing detail)
| Metric | Value | Trend |
|---|---|---|
| Jan 2026 MRR | $180,027 (Stripe) | +72% YoY (Jan 25: $104,478) |
| Annualized ARR | $2,160,324 | Based on Jan 2026 MRR x 12 |
| Paying accounts | 1,304 (Jan 26, Stripe) | +63% YoY (Jan 25: 798) |
| Total SS accounts (incl $0) | 1,500 (Jan 26) | +26% YoY (Jan 25: 1,189) |
| Net new accounts/month | +25 avg (2025) | After churn |
| MRR churn rate | ~0.4%/mo (Jun-Sep avg) | Low; median churned MRR = $29 |
| ARPU (paying) | $138 (Oct 25) | Up from $87 (Jan 25) |
| Free-to-paid conversion | 2.7%/mo avg | Consistent 2-3% range |
Key takeaway: Self-service is healthy and accelerating. Revenue growth is driven ~70% by expansion (existing accounts growing usage) and ~30% by new account acquisition. The Pro tier (launched Mar 2025) is a meaningful contributor at $80K+/mo MRR.
"Self-service" = accounts on Standard Self-Service or Pro Self-Service package tiers. These are billed via Stripe at list pricing. Excludes Free, Business, and Enterprise tiers.
| Month | Stripe MRR | Paying Accounts | ARPU | MoM Change |
|---|---|---|---|---|
| Jan 2025 | $104,478 | 798 | $131 | - |
| Feb 2025 | $81,768 | 675 | $121 | -21.7% * |
| Mar 2025 | $130,690 | 870 | $150 | +59.8% ** |
| Apr 2025 | $113,171 | 897 | $126 | -13.4% |
| May 2025 | $120,888 | 924 | $131 | +6.8% |
| Jun 2025 | $120,395 | 969 | $124 | -0.4% |
| Jul 2025 | $132,442 | 1,014 | $131 | +10.0% |
| Aug 2025 | $142,784 | 1,047 | $136 | +7.8% |
| Sep 2025 | $152,899 | 1,089 | $140 | +7.1% |
| Oct 2025 | $153,676 | 1,145 | $134 | +0.5% |
| Nov 2025 | $156,298 | 1,190 | $131 | +1.7% |
| Dec 2025 | $161,739 | 1,239 | $131 | +3.5% |
| Jan 2026 | $180,027 | 1,304 | $138 | +11.3% |
* Feb 2025 dip likely due to Stripe billing cycle timing (some invoices straddle months) ** Mar 2025 spike coincides with package migration (legacy tiers -> new tiers) + Pro tier launch
| Period | MRR | ARR (MRR x 12) |
|---|---|---|
| Jan 2025 | $104,478 | $1,253,736 |
| Oct 2025 | $153,676 | $1,844,112 |
| Jan 2026 | $180,027 | $2,160,324 |
Full year 2025 MRR growth: $104K -> $162K = +55% Jan 2025 to Jan 2026 growth: $104K -> $180K = +72%
| Month | Standard Accts | Standard MRR | Pro Accts | Pro MRR | Combined |
|---|---|---|---|---|---|
| Jan 25 | 1,180 | $98,129 | 9 | $5,645 | $103,774 |
| Feb 25 | 1,216 | $101,921 | 18 | $10,078 | $111,999 |
| Mar 25 | 1,208 | $55,923 | 55 | $34,209 | $90,132 |
| Apr 25 | 1,229 | $73,673 | 61 | $65,193 | $138,866 |
| May 25 | 1,245 | $72,510 | 64 | $50,593 | $123,103 |
| Jun 25 | 1,283 | $76,001 | 67 | $53,715 | $129,716 |
| Jul 25 | 1,328 | $80,616 | 67 | $48,955 | $129,571 |
| Aug 25 | 1,347 | $84,024 | 77 | $60,451 | $144,475 |
| Sep 25 | 1,357 | $86,384 | 82 | $71,278 | $157,662 |
| Oct 25 | 1,343 | $82,608 | 79 | $80,454 | $163,062 |
Pro Self-Service insight: Launched Mar 2025 with just 9 accounts. By Oct 2025 it's 79 accounts contributing $80K MRR (49% of total self-service MRR). Average Pro ARPU is ~$1,018/mo vs Standard's $62/mo -- a 16x premium.
| Month | New MRR | Expansion | Contraction | Churned | Net Change | Total MRR |
|---|---|---|---|---|---|---|
| Jan 25 | ~$1,700* | $11,004 | -$5,488 | -$183 | +$7,033 | $103,774 |
| Feb 25 | ~$2,200* | $13,556 | -$4,599 | -$375 | +$10,782 | $111,999 |
| Mar 25 | $1,779 | $13,186 | -$4,975 | -$31,187*** | -$21,197 | $90,132 |
| Apr 25 | ~$1,900* | $59,681 | -$10,220 | -$78 | +$51,283 | $138,866 |
| May 25 | ~$2,100* | $10,539 | -$24,784 | -$181 | -$12,326 | $123,103 |
| Jun 25 | ~$2,500* | $13,513 | -$5,642 | -$522 | +$9,849 | $129,716 |
| Jul 25 | ~$2,800* | $11,873 | -$11,303 | -$1 | +$3,369 | $129,571 |
| Aug 25 | ~$2,400* | $22,332 | -$7,264 | $0 | +$17,468 | $144,475 |
| Sep 25 | ~$2,200* | $27,654 | -$12,485 | -$60 | +$17,309 | $157,662 |
| Oct 25 | ~$2,700* | $22,299 | -$11,799 | $0 | +$13,200 | $163,062 |
* New MRR estimated from new account counts x median ARPU. COMMERCIAL_INFO shows $0 new MRR because accounts existed on free tier before converting. *** Mar 2025 churn spike is an artifact of the legacy package migration (self_serve_tier -> ably_standard). Not real churn.
Expansion dominates: In a typical month, expansion MRR ($10-27K) vastly exceeds new account MRR ($1.7-2.8K). Existing customers growing usage is the primary revenue driver.
| Month | New Paying Accounts |
|---|---|
| Jan 25 | 39 |
| Feb 25 | 50 |
| Mar 25 | 49 |
| Apr 25 | 125 ** |
| May 25 | 52 |
| Jun 25 | 51 |
| Jul 25 | 57 |
| Aug 25 | 64 |
| Sep 25 | 48 |
| Oct 25 | 55 |
| Avg (excl Apr) | 52/month |
** Apr 2025 spike likely from package migration -- legacy accounts reclassified as "new" in the new tier structure.
| Month | Standard | Pro | Total | Net Change |
|---|---|---|---|---|
| Jan 25 | 1,180 | 9 | 1,189 | - |
| Feb 25 | 1,216 | 18 | 1,234 | +45 |
| Mar 25 | 1,208 | 55 | 1,263 | +29 |
| Apr 25 | 1,229 | 61 | 1,290 | +27 |
| May 25 | 1,245 | 64 | 1,309 | +19 |
| Jun 25 | 1,283 | 67 | 1,350 | +41 |
| Jul 25 | 1,328 | 67 | 1,395 | +45 |
| Aug 25 | 1,347 | 77 | 1,424 | +29 |
| Sep 25 | 1,357 | 82 | 1,439 | +15 |
| Oct 25 | 1,343 | 79 | 1,422 | -17 |
| Nov 25 | 1,364 | 83 | 1,447 | +25 |
| Dec 25 | 1,371 | 84 | 1,455 | +8 |
| Jan 26 | 1,418 | 82 | 1,500 | +45 |
Full year net growth: 1,189 -> 1,500 = +311 accounts (+26%) Average monthly net add: +25 accounts
| Month | Churned Accounts | Churned MRR | Avg Lost MRR | Median Lost MRR |
|---|---|---|---|---|
| Jan 25 | 10 | $357 | $36 | - |
| Feb 25 | 18 | $739 | $41 | - |
| Mar 25 | 16 | $580 | $36 | - |
| Apr 25 | 35 | $1,337 | $38 | - |
| May 25 | 21 | $770 | $37 | - |
| Jun 25 | 16 | $680 | $43 | $29 |
| Jul 25 | 21 | $683 | $33 | $33 |
| Aug 25 | 40 | $1,510 | $38 | $29 |
| Sep 25 | 89 | $6,919 | $78 | $29 |
| Oct 25 | 32 | $1,407 | $44 | - |
Sep 2025 churn spike: 89 accounts / $6.9K MRR -- driven by one large account ($2,008 MRR). Median remains $29 (one Standard tier minimum).
Churn rate (accounts): ~2% of paying accounts per month Churn rate (MRR): ~0.4% of MRR per month (excluding Sep spike: ~0.5% of MRR)
| Direction | Movement | Total (Jan 25 - Feb 26) |
|---|---|---|
| Upgrade | Free -> Standard | 474 |
| Upgrade | Free -> Pro | 10 |
| Upgrade | Standard -> Pro | 69 |
| Downgrade | Standard -> Free | 384 |
| Downgrade | Pro -> Standard | 13 |
| Downgrade | Pro -> Free | 15 |
| Downgrade | Business/Enterprise -> Standard | 6 |
Net flow: +474 free->standard, -384 standard->free = +90 net from free. Plus tier upgrades within self-service.
| Period | ARPU (all SS accts) | ARPU (paying only) | Median MRR |
|---|---|---|---|
| Jan 2025 | $87 | $131 | ~$36 |
| Jun 2025 | $96 | $124 | ~$36 |
| Oct 2025 | $115 | $138 | ~$36 |
ARPU is rising driven by Pro tier growth. Median MRR is stable at ~$36 (Standard tier minimum), meaning the long tail of small accounts is stable while the top is growing.
| Segment | Accounts | MRR | % of Total |
|---|---|---|---|
| Top 10 | 10 | $32,472 | 19.9% |
| Top 20 | 20 | $48,476 | 29.7% |
| Top 50 | 50 | $76,817 | 47.1% |
| All others | 1,130 | $86,245 | 52.9% |
| Total | 1,180 | $163,062 | 100% |
Revenue is moderately concentrated -- top 50 accounts (4.2% of base) drive 47% of revenue. This is healthier than typical enterprise SaaS but still carries some concentration risk.
| MRR Band | Accounts | % of Accts | Band MRR | % of MRR | Avg MRR |
|---|---|---|---|---|---|
| < $30 | 140 | 11.9% | $3,556 | 2.2% | $25 |
| $30 - $99 | 824 | 69.8% | $34,500 | 21.2% | $42 |
| $100 - $299 | 95 | 8.1% | $16,001 | 9.8% | $168 |
| $300 - $999 | 90 | 7.6% | $47,844 | 29.3% | $532 |
| $1,000 - $2,999 | 27 | 2.3% | $41,865 | 25.7% | $1,551 |
| $3,000+ | 4 | 0.3% | $19,296 | 11.8% | $4,824 |
70% of accounts pay $30-$99/mo (the Standard tier minimum band). The real revenue power is in the $300-$3K band which is 10% of accounts but 55% of MRR. These are natural upsell targets for Business/Enterprise.
| Month | New Free Signups | Conversions | Rate |
|---|---|---|---|
| Jan 25 | 1,183 | 30 | 2.5% |
| Feb 25 | 1,021 | 28 | 2.7% |
| Mar 25 | 1,147 | 28 | 2.4% |
| Apr 25 | 1,149 | 30 | 2.6% |
| May 25 | 1,989 | 35 | 1.8% |
| Jun 25 | 1,168 | 44 | 3.8% |
| Jul 25 | 1,513 | 41 | 2.7% |
| Aug 25 | 1,498 | 34 | 2.3% |
| Sep 25 | 1,462 | 44 | 3.0% |
| Oct 25 | 1,793 | 52 | 2.9% |
| Nov 25 | 1,641 | 3 | 0.2% * |
| Dec 25 | 1,580 | 47 | 3.0% |
| Jan 26 | 4,780 | 64 | 1.3% ** |
* Nov data anomaly -- likely data lag in package change tracking ** Jan 26 shows 4,780 new free accounts (2.5x normal) -- may include a burst of signups or data correction. 64 conversions is the highest absolute number.
Average conversion rate (excl anomalies): ~2.7%
| # | Customer | Tier | MRR | ARR | Messages/mo |
|---|---|---|---|---|---|
| 1 | For Good AI | Pro | $6,516 | $78,192 | 1.3B |
| 2 | Sxbet | Pro | $4,947 | $59,364 | 2.8B |
| 3 | Toddle | Pro | $4,379 | $52,548 | 762M |
| 4 | Umbler | Pro | $3,454 | $41,448 | 976M |
| 5 | Torq | Pro | $2,761 | $33,132 | 914M |
| 6 | RevisionDojo | Pro | $2,280 | $27,360 | 320M |
| 7 | Noota | Pro | $2,084 | $25,008 | 1.1B |
| 8 | Wooclap | Pro | $2,079 | $24,948 | 380M |
| 9 | Personal: Jag | Pro | $2,007 | $24,084 | 953M |
| 10 | Tanooki Labs | Pro | $1,965 | $23,580 | 125M |
| 11 | Abyan Capital | Pro | $1,803 | $21,636 | 803M |
| 12 | Detrack Systems | Pro | $1,789 | $21,468 | 757M |
| 13 | Vetcove | Pro | $1,769 | $21,228 | 542M |
| 14 | Orbital Witness | Standard | $1,718 | $20,616 | 32M |
| 15 | Mygate | Pro | $1,630 | $19,560 | 497M |
| 16 | Level Software | Pro | $1,548 | $18,576 | 70M |
| 17 | Blanklabs | Pro | $1,518 | $18,216 | 508M |
| 18 | Lightspeed POS | Pro | $1,468 | $17,616 | 367M |
| 19 | MightyCall | Standard | $1,382 | $16,584 | 879M |
| 20 | Desk Manager | Standard | $1,379 | $16,548 | 685M |
18 of top 20 are Pro tier. The top 3 accounts alone are $15.8K MRR ($190K ARR) -- these are strong candidates for Enterprise conversion given their usage scale (billions of messages).
| Source | Coverage | Used For |
|---|---|---|
V_UNIFIED_REVENUE (Stripe) |
Jan 2025 - Jan 2026 | Actual invoice revenue / MRR |
COMMERCIAL_INFO |
Jan 2025 - Oct 2025 | Billing detail, tier breakdown, usage metrics |
ACCOUNT_PACKAGE_PLAN_CHANGE |
Jan 2025 - Feb 2026 | Tier movements, upgrades/downgrades |
ACCOUNT_OVERVIEW + PACKAGE_TIER_MAPPING |
Current | Account classification |
- Standard Self-Service:
ably_standard,self_serve_tier(legacy),payg_tier(legacy) - Pro Self-Service:
ably_pro - Mapped via
PACKAGE_TIER_MAPPINGtable (TIER_ORDER 2 and 3)
-
COMMERCIAL_INFO billing data stops at Oct 2025 -- Nov 2025 onwards shows $0 INVOICE_VALUE. This is a known lag in the billing pipeline. Stripe invoice data (V_UNIFIED_REVENUE) is current through Jan 2026.
-
Mar 2025 anomalies -- Package migration from legacy tiers to new tiers causes artificial churn/new metrics. The ~$31K "churned MRR" in March is largely accounts being reclassified, not actual customer loss.
-
MRR vs invoice timing -- Stripe invoices don't always align to calendar months. Some months show lower MRR due to billing cycle offsets (e.g., Feb 2025 dip).
-
"New account" definition varies -- COMMERCIAL_INFO tracks first billing appearance (may include re-activated accounts). Package change data tracks actual tier transitions. Numbers may differ by 10-20%.
-
ARPU includes $0 usage months -- Some accounts are on paid tiers but had zero usage in a given month. "Paying ARPU" filters to INVOICE_VALUE > 0.
-
Revenue excludes Estimated and Xero sources -- A small number of self-service accounts (
90-94) have "Estimated" revenue ($6.5K/mo) from COMMERCIAL_INFO package prices. 1-3 accounts have Xero invoices. Stripe is the canonical source.