Hawaii small businesses are high-achieving, ranking 16th among the top 25 U.S. markets, according to mobile payment application Invoice2go.

The Invoice2go list of America’s Highest Achievers analyzed more than 23,000 small- and microbusinesses across the country to find which cities are the most-lucrative, based on the average amount businesses invoiced during 2015.

Seattle topped the list with an annual average of $179,905.

San Francisco and New Orleans were second and third, respectively, while Honolulu’s average annual invoice was $105,475.

The annual ranking was based on the average monthly amount invoiced per business from January to December.

“An incredibly diverse cross section of America’s smallest business owners, from electricians and landscapers to creative freelancers, use Invoice2go to bill their customers and get paid every day,” said Greg Waldorf, CEO, in a statement. “By analyzing that collective activity, we get unique insight into a hard to measure, yet critical subset of the U.S. economy.”

The company, founded by an Australian small business owner in 2002, has some 200,000 customers worldwide.