Fiscal responsibility

January 16, 2024

Beyond just growing revenue in 2024, the name of the game is expense management as both levers have the ability to turn our company profitable. We're well versed in exactly what it will take to increase our revenues at this point so the big area of focus is going to be on ensuring we keep expenses flat to down. This is a rhetoric that most companies are following at this point, from large companies like Salesforce to earlier stage startups who have had to make difficult decisions around headcount and other expenses to ensure they have a path to profitability. The beginning of the year has not been kind to companies of all sizes, with Discord, Google, Amazon, Citrix, Twitch, Cloudflare, and many more announcing sizable layoffs. 

The good news is the actions we took in the last quarter have seen us reduce monthly expenses by over $[ ]K. While the majority has come from the difficult decisions we made to downsize the team, we have managed to find savings in areas we never thought were possible before. Renegotiating legal fees to keep them at $[ ]K flat for several months when they've been upwards of $[ ]K, reworking contracts with our statement providers to shave $[ ]K per month before we sunset them altogether, leaning on goodwill with our SPV partners who we've worked with for years now to shave over $[ ]K per month, reviewing all of our software licenses and ensuring only those that need a license have a license. All the little things add up to a much larger whole and this level of fiscal responsibility should become a part of our culture and second nature to us.

Revenues up, expenses flat, the math is simple and we build ourselves a clear path to breakeven.