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A Bootstrapped SaaS Owner Publishes the Decline Curve: New Subscribers From 191 in January to 45 in August
Angus Cheng posted his bank statement converter's numbers on August 28: revenue down 24% and MRR down 12% from a February 2026 peak, with new subscribers falling from 191 in January to 45 in August. He attributes it to three things, in his own ranking: he stopped publishing revenue data because people were using AI to clone the product, free chatbots now handle small conversions well enough, and competitors who launched alongside him are simply executing better. He is explicit that his tool remains faster and cheaper at high volume, which is the narrower niche the decline leaves him.
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