Lovable says it has surpassed $500 million in annualized revenue run rate, extending the fast growth of one of Europe’s best-known AI app-building startups. The company last said in February that it had crossed $400 million, after saying in August 2024 that it could reach $1 billion in annualized revenue within 12 months.
Founded in late 2023, Lovable has not yet reached its third anniversary. The company describes itself in its documentation as a full-stack AI development platform that lets users build, iterate on, and deploy web applications using natural language.
Projects And Usage Continue To Grow
Lovable says its platform has been used to build more than 50 million projects. Usage has also accelerated to around one million new projects a week, according to TechCrunch.
The company says many of its users are non-technical. They include founders, designers, salespeople, marketers, consultants, and operators building websites, e-commerce storefronts, internal tools, CRMs, inventory systems, and HR platforms.
Business Insider reported that Lovable’s first user data report drew on anonymized data from millions of projects and user interactions between January 2025 and May 2026. It also included a survey of more than 14,300 users conducted in late May.
Users Are Building For Business
Lovable’s survey found that many users are building software they hope to monetize or use inside their businesses. Business Insider reported that 54.6% of users said they were building a business, while 24.6% said they were working on side projects they hoped to monetize.
At the same time, 60.5% of users said they were not yet making money from their projects. The survey also found that around 80% of users are solo builders, down from 88.8% earlier this year as team and workplace use increased.
AI Coding Raises SaaS Questions
Lovable’s growth adds to attention around AI coding platforms that let non-technical users build software without writing code manually. These tools have been discussed as a possible challenge to traditional SaaS products, especially when users can create their own internal tools instead of buying annual software contracts.
The longer-term question is whether projects built this way can be maintained as dependencies, services, and infrastructure change. Lovable is still young, so abandoned project rates and long-term maintenance data remain unclear.
Featured image credits: Lovable
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