March 2020 income report

Profile image of Mattias Geniar

Mattias Geniar, April 27, 2020

Follow me on Twitter as @mattiasgeniar

This is the third open financial report of my business as an independent creator and consultant. A bit later than usual, the Corona lockdown has taken a toll on the amount of time I can spend in front of a computer.

Birds-eye view

Let’s start with the summary first and do a break-down further down this post. If all you care about is “how much money is Mattias making", you can probably stop looking after the first table.

My income comes from 4 main sources: DNS Spy, Oh Dear!, consultancy and cron.weekly advertising.

Total revenue Total costs Net profit Delta
€5,683.40 €1,923.00 €3,760.40 +97%

These numbers don’t mean much in and of themselves, so let’s dive in.

Business costs

Overall, most money was spent on:

This was a quiet period with little to no special costs: €1,631.00.

Oh Dear

Oh Dear! is the monitoring SaaS that Freek & I are building. We employ a 30/35/35 rule for our revenue: 30% of our revenue gets re-invested in the company (advertising, art designs, external freelancers, …), 35% goes to Freek, 35% goes to me.

Type Amount Delta
Total revenue (VAT excluded) €7,392.82 +33,5%
Costs €750.00 +50%
30% to marketing/investment €2,217.60 +46,8%
35% to Freek/Me €2,587.20 +46,7%

We had an exceptionally good month for Oh Dear, but the main reason were a few big yearly subscriptions that got purchased (worth more than €2,000.00). These don’t renew next month, so while I’m happy with the spike in revenue in March, I’m anticipating a (relative) drop in April because of this.

Note: costs are averaged and rounded to the upside, to keep budget available for sudden spikes in activity (aka: more server capacity needed).


DNS Spy is a much simpler product than Oh Dear. It has less features and only focusses on DNS, a much more narrow use case. As a result, its proceeds are also lower.

DNS Spy is owned and operated by me, so all profits flow to me directly.

Type Amount Delta
Total revenue (VAT excluded) €896.20 -41%
Costs €153.00 +61%
Total profit €743.20 -48%

In february, I was able to realise a +36% growth for DNS Spy. A Hacker News post had brought in several new clients.

There were a lot less new clients in March, and the dramatic drop by -41% is the direct result of it.

(For DNS Spy, it’s common to see users take on yearly subscriptions instead of a low monthly renewal.)


I didn’t take any consultancy assignments in March.


The sponsorship schedule for the weekly newsletter is coming along nicely.

Type Amount Delta
Total revenue (VAT excluded) €2200.00 +700%
Newsletter costs €139.00 +95%
Total profit €2,061.00 +910%

For the next few months, this revenue will continue to be stable. Sponsorship slots are booked (and payed for) until mid-May.


To summarize, here’s the revenue and costs per income stream.

Revenue Costs Profit
Oh Dear! €2,587.20 - €2,587.20
DNS Spy €896.20 -€153.00 €743.20
Consultancy €0.00 - €0.00
cron.weekly €2200.00 -€139.00 €2,061.00
Business costs -€1,631.00 - €1,631.00
Total profit €3,760.40

Gross revenue of €5,683.4, which adds €3,760.40 net profit to the bank.

Net results

Things are looking good, so it’s time to take my salary out of minimum wage territory.

From now on, I’m paying myself a net salary of €1,825.00.

This marks a pretty big turning point for me, because it now means I no longer have to touch our savings account any more! 🥳

Extra note: because I now own a business, I get to (partially) pay things like my home office internet, electricity, heating, … with pre-tax revenue. This allows me to receive a lower-than-before salary while keeping the same standard of living.

Hours worked vs Money made

I received an interesting question on Twitter as feedback of earlier reports: how much time did I spend working to get that revenue?

This leads me to an interesting statistic I want to keep track of: what am I worth per hour?

Corona was already impacting available working time in March. It comes down to:

  • Hours worked per week: 15h (~60h in the month)
  • Gross revenue: €5,683.4
  • Hourly revenue: €94.72

By working less, I’m actually pushing my hourly revenue up.

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