METHODOLOGY · NO.001 · Q2 2026

How we verify
indie SaaS revenue.

We started with 51 named entries. After three rounds of verification, 30 made it through. Eight had the wrong founder name attached to real revenue figures.

This is the audit trail. We publish everything we cut and everything we caught, because the alternative is publishing the same fabricated revenue data the AI content mills are publishing in 2026.

51
Entries attempted
30
Verified & published
11
Cut rounds 1–2
8
Founder name swaps caught

The 11 we cut

Rounds 1 and 2 of verification removed eleven entries from the original 51. Three categories.

Fabricated 3 entries

Numbers that don't multiply

One article on arnjen.com listed PT Distinction: $1.5M ARR with 10,000 trainers at $39/month average. Do the math: 10,000 × $39 × 12 = $4.68M, not $1.5M. The author also fabricated TrueCoach's $500k+ ARR with no acquisition record findable. AI-generated content mills are publishing invented revenue data with founder names attached. Cut all three.

Misclassified 5 entries

VC-funded, listed as micro-SaaS

Stan ($2.84M MRR) is a 225-employee VC-funded creator platform, not a micro-SaaS. PushPress ($15M ARR) raised $32.6M and runs with 100 people. TrimRx ($246k MRR) sells weight-loss medication through a pharmacy LLC - not SaaS at all. Plus Rezi (30 employees, fails ≤15 filter) and one other indie-washed entry. Pulled all five.

Numbers off 3 entries

5–8× stale or wrong figure

We had Hevy listed at $20k MRR based on an outdated source. Ottawa Business Journal puts them at $2M ARR Mar 2023. Carrd was at $146k/mo in older reports; AJ's own AMA confirms $1.2M ARR / ~$100k MRR. Sleek.design didn't hit $10k MRR "in one month". Mattia did it in six weeks, and built it on top of his existing Reweb tool.

The 8 founder name swaps we caught

The numbers were correct or close-to-correct. The names attached to them were wrong. This is the silent killer of indie SaaS data quality. AI mills attach plausible founder names to real revenue figures, and the bad attribution gets cargo-culted across listicles.

Entry
Claimed founder
Actual founder (verified)
Source
Chatbase
Danny Postma (runs HeadshotPro)
Yasser Elsaid
aibase / $8M ARR self-funded
HabitKit
"Jakob" (no source)
Sebastian Röhl
X · Indie Log #35
HelpKit
"Manuel" (no source)
Dominik Sobe
dominiksobe.com
Bank Statement Converter
"(anon)" (AI hallucination)
Angus Cheng · HK solo
Starter Story · $12.5k MRR
"AI Brand Mentions"
"(anon)" (duplicate)
Kleo team (dropped duplicate)
Same operators as Kleo
Senja our candidate swap
Mark Wong + Sammy Schuckert
Wilson Wilson + Oliver Meakings
IH founder post · $1M ARR Nov 2025
Marker.io our candidate swap
"Marko Krstic"
Gary Gaspar + Olivier Kaisin + Emile-Victor Portenart
Latka · $492k ARR
CleanVoice DROPPED
"Ramin Sani" €40k MRR
Revenue claim unverifiable
Dropped from final list

Source reliability tiers

Every entry in the dataset is graded by source tier. Tier A is what we publish without caveats. Tier C is what we triangulate or skip. Tier X is what we exclude entirely.

A

Primary

Founder's own blog, founder's X / Twitter post, founder-authored IndieHackers post, founder interview transcript on Indie Bites / SaaSClub / Mixergy / Failory, founder-volunteered Latka public profile.

Default for publication. No additional verification required.

B

Semi-primary

Starter Story interviews, SaaSClub podcast write-ups, secondary podcast write-ups quoting the founder, news articles directly quoting founder revenue numbers.

Published with source citation. Triangulated with Tier A if available.

C

Aggregator

TrustMRR public profiles without companion founder post, generic news summaries, "top indie SaaS" listicles, third-party blog posts citing other sources.

Excluded unless triangulated with Tier A or B. Anonymous aggregator listings dropped.

X

Excluded

AI content mill sites (arnjen.com flagged 2026-05-13), uncited generic listicles, anonymous "$X MRR in Y months" tweets, fabricated revenue claims with no findable primary source.

Never published. Sources flagged and named in the audit trail.

Audit trail

Three verification rounds, dated and documented.

  1. 2026-05-13
    Round 1–2 initial scrape. 51 candidates collected from indie SaaS lists, founder interviews, TrustMRR, "$X MRR in Y months" tweets. 11 entries cut: 3 fabricated, 5 misclassified VC-funded, 3 with figures off by 5–8×. 30 retained.
  2. 2026-05-14 (morning)
    Round 3 re-verification. Re-verified all 30 retained entries against primary sources. Caught 5 founder name swaps in the original dataset. Caught 5 more dropping candidates: 3 anonymous TrustMRR-only (FaceKit, Bloom, Services+SaaS), 1 demoted below filter (HelpKit $3k MRR), 1 duplicate team (Mentions = Kleo).
  3. 2026-05-14 (afternoon)
    Replacement candidate verification. Sourced 5 replacement entries. Verification caught 3 more founder-name swaps in our own candidate picks (Senja, Marker.io, plus CleanVoice dropped entirely for unverifiable revenue). 4 candidates added: HeadshotPro, ShipFast, Senja, Marker.io. 3 acquired-outcome entries restored with explicit caveat boxes (Plann, Baremetrics, Lemon Squeezy).
  4. Final
    30 entries published across 4 tiers: 7 at $100k+ MRR, 12 at $20–100k MRR, 8 at $5–20k MRR, 3 acquired reference cases. Total founder name swaps caught and corrected: 8. Source tier breakdown documented per entry.
VERIFIED
Q2 / 2026

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