December 2024 Shareholder Update

💡 Sent to shareholders on January 31, 2025

Hi there,

Here are Buffer's December 2024 results and key updates as well as a summary of our 2024 results. Hit reply and let me know any questions you have. Thank you for your support throughout 2024!

Notes:

• December was our second consecutive month exceeding $100,000 in profit.
• In December, new paying customers surpassed 3,900, contributing to $83,259 in new business MRR—our second-highest month ever for this metric.
• After losses in both 2022 and 2023, we are proud to close 2024 with a net profit of $202,000 and total revenue of $18.6M.

Note-worthy updates and reflections

EPD Strategy & Structure Adjustments

Throughout November and December I worked closely with our PMs to refine our product strategy and adjust our Engineering, Product, Design (EPD) team structure and scopes of ownership to align with our strategy.

Through these changes, we have re-committed to developing our Engagement and Analytics tools alongside our Publishing and Content Creation tools. Additionally, we're building out a platform so that others will be able to build on top of Buffer, and so that Buffer is well-positioned in this new world where AI is a core utility both for productivity and building new products.

In everything we build, we are continuing to pursue our down-and-wide strategy to serve creators, entrepreneurs and small businesses. I’m genuinely excited about what’s ahead—it feels like one of the most focused and impactful roadmaps we’ve developed in years, with clear priorities and meaningful value additions to the product.

Bluesky Video Scheduling

We added video support for Bluesky, which enables users to schedule videos up to 60 seconds long. This is compatible with other channels that support video, which makes it super easy to use Buffer for cross-posting videos.

Schedule AI Images with Image Playground

We added Apple Intelligence Image Playground integration to our iOS app. This allows users to utilize the native AI image creation tools in iOS to seamlessly add images to their posts. It's like having a creative assistant that can turn your ideas into graphics in seconds, and is especially useful since we've found time and time again that including an image in your post can improve results.

2024 Summary

We concluded 2024 with growth across all of our metrics:

• ARR grew 12.57% YoY to $20,129,149
• Paying Customers grew 7.6% YoY to 60,184
• Monthly Active Users grew 29.6% to 180,647
• Average Revenue Per User grew 4.66% YoY to $27.87
• Revenue per Employee grew 18.3% to $275,707
• Net Profit grew 135.3% to $202,459

Stay tuned for my second annual shareholder letter which I'll be writing in the next couple of months with many more details on how 2024 looked for Buffer.

Thanks for your continued support!

– Joel, Founder CEO