You did $400K last month and have no idea if you made money
Revenue is not profit. Niblin tracks contribution margins, COGS, and marketing as a percentage of revenue — so you know whether that record month actually put money in the bank or just moved it from your ad account to Facebook's.
Margin Tracking
CM1, CM2, and contribution margin — without asking your accountant
Most D2C founders know their revenue. Some know their gross margin. Almost none know their CM2 by channel. Niblin calculates contribution margins at every level — from gross profit down through shipping, payment processing, and marketing costs — so you can see where the money actually goes.
- CM1 (revenue minus COGS) and CM2 (CM1 minus variable costs) tracked daily
- Marketing cost as a percentage of revenue — the number that tells you if growth is profitable
- Channel-level margin analysis: is Amazon profitable after FBA fees, or are you subsidizing Jeff Bezos?
- Trend views so you can see margin compression happening over weeks, not discover it at quarter-end
COGS Analysis
Know your cost per unit before your supplier invoice surprises you
When your COGS creeps up 3% over six months, it's invisible in weekly reviews but devastating over a year. Niblin tracks cost of goods at the product level, flags COGS increases, and shows the impact on your gross margin — so a $0.40 per-unit increase doesn't hide for three quarters.
- Product-level COGS tracking with historical trend analysis
- Gross margin by product: see which items are margin-positive and which are margin traps
- COGS alerts when cost per unit exceeds historical thresholds
- Category-level cost analysis so you can negotiate with suppliers armed with actual data
Product P&L
Which products make money and which ones just look busy
Your top-selling SKU does $50K/month in revenue. After COGS, returns, shipping, and allocated marketing cost, it makes $2K. Meanwhile, a SKU doing $8K/month nets $3K. Niblin builds product-level P&Ls so you stop optimizing for revenue and start optimizing for profit.
- Revenue, COGS, gross profit, and net contribution per product — in one view
- Return cost allocation: products with high return rates show their true margin
- Marketing cost allocation per product based on attributed spend
- Product profitability ranking that tells a completely different story than your revenue ranking
Promotion ROI
That 20% off sale drove orders. Did it drive profit?
Promotions boost orders, that's the easy part. The hard question: did the incremental revenue cover the margin you gave away? Niblin tracks promotion ROI by comparing promotional periods against baselines, accounting for discount depth, incremental orders, and margin impact.
- Promotion period vs baseline comparison with incremental revenue and order calculations
- Discount depth analysis: did 20% off generate enough volume to offset the 20% margin hit?
- Promotional cannibalization detection: did customers just shift orders forward, or did you create new demand?
- Promotion profitability scoring so you can repeat the winners and kill the losers
Revenue is vanity. Margin is sanity.
Connect Shopify in 15 minutes. Tomorrow, you'll know which products, channels, and promotions actually make money — and which ones just move it around.