Buffer’s 2023 results

Up: § 2023 Shareholder Letter Index

Reference: Buffer annual results 2019-2023

We ended 2023 with $1,495,870 in MRR, or $17,950,440 in ARR. This was a decline of 1.75% from the prior year and represented a stalling of our steeper declines in the previous years. Our number of paying customers declined 4.75% to 55,975, which was an improvement from the 6.94% decline in 2022. We concluded 2023 with a net loss of $572,827, a significant improvement from our $1,094,128 net loss in 2022. We ended the year with $3,219,455 in the bank, representing 21 months of runway. We improved our operating (EBITDA) margin from -2.65% in 2022 to -1.86% in 2023. Combining our ARR growth rate and operating margin, our rule of 40 for 2023 was -3.60%, an improvement from -10.22% in 2022.

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These results represented a turnaround year for Buffer, and we are now set up for growth in 2024.