Mozilla published its audited financial statement for the year 2022 this week. Revenue has stayed approximately the same, but a certain trend starts to make a noticeable impact on the organization's revenue.
First the main figures. Total revenue was $593 million, which is $6 million less than what Mozilla earned in 2021. It is still $100 million more than the revenue of 2020.
The majority of revenue comes from royalties. Mozilla does not divide royalties payments by company, but the majority comes from the Google search deal. Royalties earned Mozilla $510 million in 2022, which is $17 million less than in 2021. Since some of it is performance-based, it is possible that losses in users have attributed to the decline. Then again, there may be other factors at play here.
Mozilla's other revenue sources are dominated by subscription and advertising. These rose to $75 million in 2022, an increase of nearly $20 million over the 2021 revenue.
The past couple of years saw the release of several products by Mozilla. Some of them were free to use, others require a subscription. Notable products established in the past couple of years are Firefox Monitor, Mozilla VPN, and Firefox Relay. There is also the FakeSpot service that Mozilla acquired recently that may help increase revenue in the coming years. Last but not least, Pocket is still growing strong and contributing to revenue.
Expenses have skyrocketed on the other hand from $339 million in 2021 to $425 million in 2022. The main driving factors are software development, general and administrative, and branding and marketing.
Software development increased by $21 million to $220 million in 2022. Branding and marketing by $28 million to $58 million, and general and administrative from $81 million to $108 million.
All in all, Mozilla managed to increase its net assets by almost $150 million in 2022. Assets sit now at a comfortable $1197 million.
Mozilla and Google agreed on a three-year search deal in 2022. Both companies did not reveal specifics about the deal, but it is clear that Google is still the main factor behind Mozilla's revenue.
Both parties have not made any announcement regarding an extension of the deal. Mozilla's survival still depends on search engine deals, even though other revenue sources show continued growth. While Google is the most likely candidate, there is also a possibility that Microsoft could take over with its Bing search engine.
Mozilla accelerated its investment strategy in 2023. The organization invested in a total of 25 companies and acquired Fakespot up to this day. Last year, Mozilla acquired 2 companies and invested in 3 companies, according to well-informed blogger Sören Hentzschel)
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