Investor Update
January 2026

$1.2M. First profitable year. Revenue from 20+ builders, not 6.

December closed at $1.18M (+22% MoM), capping a full year of $11.2M in net revenue (+28% YoY). EBITDA swung from -$612K in 2024 to +$156K in 2025. The platform's revenue base shifted from concentration to distribution: 20+ brand builders contributing to December, not 2 to 3.

TL;DR

Net Revenue $1.18M (+22% MoM)  •  FY 2025: $11.2M (+28% YoY)  •  EBITDA +$156K (first profitable year)  •  Gross Margin 43.9% (+7pp)  •  Sub Revenue $1.57M (+119% YoY)

Performance
Key Metrics
$1.18M
Net Revenue
+22% MoM
Nov: $965K • Record month
$2.28M
GMV
+12.6% MoM
Nov: $2.03M
1,552
Monthly Active Builders
-0.6% MoM
Nov: 1,561
72.7K
Items Shipped
+8.4% MoM
Nov: 67.1K
$11.2M
FY 2025 Net Revenue
+28% vs $8.75M 2024
+$156K
FY 2025 EBITDA
+$768K vs -$612K 2024
43.9%
FY 2025 Gross Margin
+7pp vs 37% 2024
$1.57M
FY 2025 Sub Revenue
+119% YoY
Finance Tracker
View full financial data in Google Sheets →
Data
Performance Charts
Monthly Net Revenue
Trailing 13 months (USD thousands)
$1,172K
Monthly EBITDA
Trailing 13 months (USD thousands)
-9K
Monthly Active Builders
North Star metric
1,552
Revenue Mix
Subscription vs transaction (USD thousands)
Sub $161K
From the CEO
Executive Commentary

December closed at $1.18M in net revenue, up 22% from November. 2025 full year: $11.2M, up 28% year-over-year. The business swung from -$612K EBITDA in 2024 to +$156K, a $768K improvement. Gross margin expanded nearly 7 percentage points. The numbers are good. What makes them better is the composition.

In December 2024, two or three accounts drove the majority of revenue. In December 2025, 20+ brand builders contributed. Top seller concentration is well below levels from even six months ago. This is why we built the platform: to enable many people to build real businesses, not to depend on a handful.

On the strategic side, we completed a customer discovery sprint: 700+ core brand builders surveyed, 162 responses collected, interviews scheduled for January. The 2026 strategy will be built on data we now have for the first time, not assumptions.

We fell short of our internal goal to double revenue. The account-based sales strategy deployed in 2025 did not deliver as planned. That said, the foundation built this year, the academy, the AI onboarding, the ClickFunnels integration, the margin expansion, the platform distribution, positions us well for what 2026 can be.

ML
Martins Lasmanis
CEO & Co-founder, Supliful
Key Signals
First profitable year
FY 2025 EBITDA +$156K. $768K swing from -$612K in 2024. Gross margin at 43.9%, up 7pp. The business is structurally healthier.
Revenue distribution
December: 20+ brand builders contributing. Not 2-3. This is the platform maturing.
Customer discovery complete
700+ surveyed, 162 responses. Interviews in January. 2026 strategy built on real customer data for the first time.
Holiday fulfillment strain
CSAT dropped to 64% by end of December. Backlog cleared early January. Will not happen again.
Year in Review
2025 Full Year
$11.2M
Net Revenue
+28% vs $8.75M
2024: $8.75M
$25.0M
Gross Merchandise Value
+43% YoY
2024: $17.5M
750K
Items Shipped
+49% YoY
2024: 504K
$1.57M
Subscription Revenue
+119% YoY
2024: $717K
+$156K
Annual EBITDA
+$768K vs -$612K
43.9%
Avg Gross Margin
+7pp vs 37% 2024
1,552
Year-End Active Builders
+19% vs 1,304 2024
$54M+
Cumulative Brand GMV
All-time
Progress
Wins
💚
Financial
  • $1.18M net revenue in December, up 22% MoM. FY 2025 at $11.2M, up 28% YoY.
  • First profitable year: EBITDA +$156K. Gross margin 43.9%, up 7 percentage points from 2024.
  • Subscription revenue $1.57M for the full year, up 119% YoY. Recurring base is real and growing.
🎯
Strategy
  • Customer discovery: 700+ core brand builders surveyed, 162 responses. Deep segmentation complete.
  • Supliful Lifecycle launched. Automated onboarding and lifecycle touchpoints live.
  • Performance reviews complete across all 50 team members. Recognizing 2025 contributions.
🏗️
Platform
  • December revenue from 20+ brand builders, not 2-3. Customer concentration at lowest level in company history.
  • Items shipped 72.7K, up 8.4% MoM. FY 2025: 750K items shipped, up 49% YoY.
  • $54M+ in cumulative brand builder GMV over four years. 1.5 million items shipped across the US.
Outlook
Priorities for Next Month
  • 1
    Finalize 2026 strategy
    Complete customer discovery interviews. Align team on updated positioning and GTM approach.
  • 2
    Team performance reviews
    360 reviews to reflect on 2025 execution and gather peer feedback across all 50 team members.
  • 3
    Build GTM testing infrastructure
    Connect the pieces built in 2025 into a coherent system for testing acquisition and activation hypotheses.
Where We Could Use Help
No ask this month.