Mozilla's revenue increased by a third last year, with 86 per cent of its income coming from a contract with Google.
The browser maker had a bumper 2009, and said it expects income from search providers to be a "solid generator of revenue for the foreseeable future".
The firm also stressed its commitment to the web and the importance of remaining open in its battle with other browser developers.
Mitchell Baker, chairman of the Mozilla Foundation, claimed that the company exists to "build individual empowerment, control and opportunity into the fabric of the internet".
"We build great products as a public asset. Great products based on open source software, plus much, much more," he said in the Mozilla Annual Report.
Mozilla is "community driven" and a non-profit organisation that "works towards the greater good", according to Baker.
"We succeed by being different, by pushing the boundaries of what 'open' and 'participation' and 'individual empowerment' mean," he said.
"Our success can be seen in the way that 'open' and 'participation' have become integrated into modern internet life."
Mozilla faces a number of challenges from companies such as Microsoft, and will tackle these head on with innovative and technically excellent responses, Baker explained.
"Mozilla is the underdog in our efforts to build participation and empowerment into the internet," he said.
"It's a big challenge to build our values into layers of the internet where the commercial giants of our age are battling it out. Mozilla has always faced this kind of challenge.
"We started in an era when everyone 'knew' that our goals were impossible because Microsoft was invincible.
"Today, Mozilla is stronger than ever. Our opportunity to bring openness and choice to new aspects of the online experience is unprecedented."
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