Medium CEO Tony Stubblebine said August 2024 was the company’s first profitable month. In a later retrospective, he put the change at a $2.6 million monthly loss in July 2022 to a $7,000 profit in August 2024. Those figures are management’s account, not audited results: Medium is privately held and does not publish earnings reports.
What Medium said about its first profitable month
On August 21, 2024, Stubblebine announced that Medium had reached its first profitable month, meeting a goal the company had previously set for 2024. In a 2025 retrospective, he quantified the shift: “The gap we closed was a $2.6M loss in July of ’22 to a $7K profit in August of ’24.”
The claim is best understood as a company-reported milestone. Medium does not issue public earnings reports, and the cited accounts do not provide an independent audit or public financial filing confirming the monthly result.
How Medium says it turned the business around
Stubblebine attributed the turnaround to several changes rather than to a single revenue or cost measure. His accounts point to paid membership, operating expenses, staffing, product priorities, and financial restructuring. They do not quantify how much each factor contributed.
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More members and subscription demand
Stubblebine said that making a product members wanted to subscribe to was central to the improvement. TechCrunch reported that Medium had more than one million members as of April 2024, citing the CEO, but he did not disclose how many were paying subscribers. The member count therefore cannot be treated as a paid-subscriber total.
TechCrunch estimated Medium’s revenue at $50 million to $60 million using the reported membership figure and subscription prices at the time. That was the publication’s estimate, not a company-disclosed or verified revenue figure. TechCrunch also reported AppFigures estimates that Medium’s mobile app grossed $8.9 million in 2024 to date, up 69% from $5.3 million in the corresponding period a year earlier. Those app figures are estimates, not audited company results.
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Lower cloud costs and fewer employees
In his retrospective, Stubblebine said monthly cloud costs fell from $1.5 million to $900,000 and staffing declined from 250 people to 77. These are figures he reported, not amounts reproduced in public financial statements.
Debt and investor restructuring
Stubblebine also described renegotiating loans, removing liquidation preferences, simplifying governance to one investor tranche, selling two acquired businesses, and closing a third. TechCrunch’s July 2025 report described the restructuring and said, based on the CEO’s account, that Medium had remained profitable since August 2024.
Product and content priorities
Stubblebine said Medium had faced content-quality challenges and described a shift toward giving voice to people sharing professional, academic, and personal experience. TechCrunch’s 2024 coverage discussed Boost curation, moderation, author identity verification, and the Partner Program. These are relevant platform context, but the cited accounts do not establish them as causes of the profit milestone.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is Medium still profitable?
Stubblebine’s retrospective and TechCrunch’s July 2025 follow-up reported that Medium remained profitable after August 2024. The latest cited reporting here is from July 2025, so it does not establish the company’s financial status after that point.
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