Plaud, a company that makes AI-powered voice recorders, announced on June 16, 2026 that customers now pay them $100 million per year for software subscriptions. They reached this milestone after selling more than 2 million of their devices.

Here is how Plaud's business works: you buy a physical recorder — a small device that fits in your pocket — and it captures conversations, turns them into written text, and summarises them automatically. Then you pay a monthly fee for the software that does all this AI work. Most hardware companies struggle with this approach: people buy the device, use it once or twice, then put it in a drawer and forget about it. Plaud has managed to keep customers subscribing, which is much harder than it sounds.

The 2 million devices are the foundation of everything. If that many people are still paying for the software each year, it means Plaud solved a problem that kills most hardware startups. On average, each device is generating about $50 per year in subscription fees, though Plaud has not shared exactly how much they charge each customer or how many people cancel their subscriptions.

Other companies offer similar services using software alone. Apps like Otter.ai and Fireflies let you record meetings using your phone or computer. Plaud's advantage is that the small recorder device works without needing your phone or computer — it captures audio on its own. This appeals to people who work in industries with strict privacy rules or who do not want their conversations sent through the internet immediately. As phone and computer software get better at recording and transcribing on their own, however, Plaud's edge could fade.

One important note: Plaud reported these numbers themselves, and no outside auditor has confirmed them. When private companies announce revenue, they sometimes measure it differently than you might expect, so treat this as directional — likely accurate in direction, but not necessarily exact.

Meeting recording and summarisation has become one of the most useful AI tools that actually deliver value. People notice the time savings right away. This is different from many AI products, which sometimes feel like solutions in search of a problem. For Plaud's customers, the benefit is clear and immediate, which is why they keep paying.

Plaud's approach — combining a physical device with ongoing software fees — is different from competitors who sell only software. It shows that some customers, especially executives and people who travel a lot, will pay for both the device and the subscription. Whether this model works for large companies with complex buying processes and strict data security requirements remains to be tested.

Making and shipping 2 million devices is also a real achievement that does not always get attention in technology coverage. Running factories and supply chains at that scale, while also building the artificial intelligence systems that make the transcription work, takes different skills than building pure software. Very few companies have managed to do both successfully. Plaud has proven they can.