Growth re-accelerated. Margins expanded. Supliful turns four.
October delivered broad improvement: GMV up 12.3% MoM, net revenue up 9.4%, gross margin expanded to 47.5%. Paid acquisition is now profitable and scalable. Monthly Active Merchants at 1,603 with a new North Star focus.
Net Revenue $896K (+9.4% MoM) • GMV $1.64M (+12.3%) • Gross Margin 47.5% (+3.1pp) • MAM 1,603 • TTM $11.05M • Paid ads profitable
October came in strong across the board. GMV up 12.3%, net revenue up 9.4%, gross margin expanded 3.1 percentage points to 47.5%. The step-up was powered by larger basket sizes (2.55 items per order, up 18.9% MoM), broader distribution with 1,603 Monthly Active Merchants, and pricing discipline. Orders were down 3.8% MoM but higher units per order more than offset the dip.
October also marked Supliful's fourth birthday since our October 2021 launch. In four years: $44M+ in revenue for brands, $22M+ in revenue for Supliful, 1.3M packages shipped, a 50-person team across three continents. Greatness is earned through discipline and team effort. We are not done.
A significant structural decision this month: we anchored the company around a single North Star metric, Monthly Active Merchants. Everything from onboarding to product development to acquisition is now oriented around improving this number. MAM had stalled for 22 months. That changes in Q4.
Paid acquisition on Meta and Google is now consistently profitable. CPA at $8.82 puts us slightly profitable on funnel assumptions. This is the first time we can say paid acquisition is a reliable, scalable growth channel.
- North Star metric established. Monthly Active Merchants now drives all product and onboarding decisions.
- AI-enabled onboarding scoped. Reducing time to sample and time to first sale via AI-powered label creation and product discovery.
- Basket size 2.55 items per order, up 18.9% MoM. Mix improvements and bundling working.
- Paid acquisition profitable. Meta and Google delivering at $8.82 CPA, slightly profitable on funnel assumptions.
- Supply Side West, Las Vegas. Several new suppliers identified, to be added to catalog.
- Smart Marketer and Alex Fedotoff EES events. Podcasts recorded, releasing November and December.
- Supliful turns 4. $44M+ brand revenue, $22M+ Supliful revenue, 1.3M packages shipped, 50-person team.
- GMV up 12.3% MoM to $1.64M. Revenue concentration continues to improve.
- TTM at $11.05M. Trailing twelve-month revenue crossed $11M for the first time.
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1Launch Supliful AcademyIn partnership with LA-based agency Marketing Counts. Teaching people to launch supplement products using ClickFunnels.
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2Integrate and launch ClickFunnels partnershipFunnel-based marketing proving effective. Direct integration will attract more merchants.
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3Launch AI-enabled onboardingRedesign to reduce time to sample. AI-powered UX helps merchants with label creation and sample ordering in a few prompts.