Case Study: Wave achieves $4M ARR in 8 months with Adapty

Wave reaches $4M ARR in 8 months with Adapty

The customer, Wave, is an AI note-taking app created by a solo indie developer. The challenge was to build and scale the app's subscription business without a dedicated backend team, requiring a third-party solution to handle in-app purchases, analytics, and paywall A/B testing efficiently. The vendor, Adapty, provided its paywall builder and SDK to meet this need.

Adapty's solution enabled Wave to quickly integrate in-app purchases and run constant paywall A/B tests. This implementation was crucial for optimizing conversion rates. The results were significant, helping Wave grow from $0 to $4 million in annual recurring revenue within just eight months. Furthermore, the use of Adapty contributed to a 40% reduction in the app's refund rate.

Wave