Sourcehut Q1 2019 financial report

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<20190426160729.GC1351@homura.localdomain>
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                       Sourcehut Q1 2019 financial report

In summary, Sourcehut is financially healthy, with an operating monthly
profit of approximately $1032. My main goals as the income grows are:

- Investing in additional hardware and resources
- Marketing & outreach
- Raising my personal salary to more sustainable levels (I currently do
  some work on the side to make up for it)
- Hiring additional employees

On the last point, I'd like to of course hire people to work more on
Sourcehut, but the dream is to be able to provide a sustainable platform
for important members of the open source community to do their work.
Sourcehut itself in theory doesn't require a ton of money, so I'd like
to re-invest the excess income in supporting a more diverse and healthy
open source community.

Thank you for your support, and I'm looking forward to continuing to
serve you.

Disclaimer: this report is a summarized approximation of Sourcehut's
financials, and is not used for tax purposes.

                                Revenue sources

Sourcehut receives revenue from paid user subscriptions. During Q1, we
processed 891 invoices. The invoices paid break down as:

    454       $2  (paid monthly)
    193       $5  (paid monthly)
    50        $10 (paid monthly)
    135       $2  (paid yearly)
    38        $5  (paid yearly)
    21        $10 (paid yearly)

The total gross revenue during this period was $9,275.00, which after
transaction fees comes out to $8,675.78.

At the time of writing (2019-04-26), 810 of 8,412 users have paid for
their account. The breakdown of active subscriptions is:

    170       $2  (paid monthly)
    65        $5  (paid monthly)
    16        $10 (paid monthly)
    405       $2  (paid yearly)
    109       $5  (paid yearly)
    45        $10 (paid yearly)

The monthly revenue from these subscriptions (with annual subscriptions
realized over 12 months) is approximately $2,235, after transaction
fees.

Sourcehut has $10,926 in the bank at the time of writing (2019-04-26).

                                    Expenses

Breakdown of Q1 expenses:

    $2,694.35    New compute server for builds.sr.ht
    $1,140.00    Philadelphia datacenter lease (inc. network, power, etc)
    $  171.43    San Francisco datacenter lease (inc. network, power, etc)
    $  163.50    Replacement server rails
    $  150.00    Artwork commission for git-send-email.io
    $   94.68    Misc. datacenter hardware

Payroll:

    $1,250      Drew DeVault (CEO) ($500/mo, started mid-quarter)
     +$149      Employer taxes & processing fees

Going into Q1, our ongoing expenses are:

    $529.85/mo  Payroll (w/taxes & fees)
    $640.00/mo  Philadelphia datacenter lease
    $129/qtr    San Francisco datacenter lease

We've upgraded our Philadelphia datacenter lease to support our new
compute server and some upgrades we have planned.

Additionally, changes to compensation may be made at Drew's discretion.
Drew's salary is well below market and is designed to be made up for
with periodic bonuses as necessary. We also expect to provision more
server hardware in Q2 or Q3, for adding novel build architectures to
builds.sr.ht.

Sourcehut will also be attending a Mercurial conference in Paris in May,
and will be sponsoring travel & accommodations for Drew and Ludovic (a
major contributor to hg.sr.ht).