Canonical’s revenue in 2023 exceeded a quarter of a billion dollars

The private British company Canonical, engaged in the development of Ubuntu, has disclosed financial results for 2023. According to the Phoronix resource, the relevant documents have been sent to the UK Registration Chamber.

It is said that Canonical’s total revenue was approximately $251 million. In 2022, the company received approximately $205 million. Thus, growth is 22.4%. However, gross margin year-on-year decreased from 82% to 80%. Canonical’s cash flow from operating activities in 2023 was $47 million. This is less than the previous year, when a value of about $62 million was recorded.

Profit at the end of the year reached $12.5 million. For comparison: in 2022, the company earned $3.9 million.

Image source: Canonical

The financial filing also said that sales and marketing expenses accounted for 21% of revenue in 2023, up from 19% a year earlier. 26% of revenues were spent on research and development, the same as in 2022. Another 15% of revenue went to administrative expenses (16% a year earlier).

At the end of 2023, Canonical’s staff expanded to 1,034 employees, while in 2022 the company employed 858 people. It is noted that the increase in key financial indicators is primarily due to paid customers of Ubuntu Pro, as well as additional sales of subscriptions and services.