But only 67,258 users have a paid-for subscription.
The Guardian has long been a flagwaver for digital, and is often first to try new ideas.
Its iPhone app, which debuted in the Apple's App Store in January, offers limited access to some Guardian content for free, while users can pay £2.99 for six months, or £3.99 for an annual subscription giving full access.
It's been downloaded 403,388 times, with 67,258 premium buyers. In the US, where the app is free and advertising funded, there have been 36,089 downloads.
How good this is depends on where you start. For example, the print edition of The Guardian costs £1 and sells over 270,000 a day.
The total revenue in downloads from January is between £200,000 and £270,000 depending on how many paid £2.99 and how many paid £3.99.
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The paper edition would have grossed around £40m in the same five month period.
Clearly, The Guardian is building for the future with its app, but the numbers reflect the gap in old and new media revenues.
The Guardian's old iPhone app, which was launched in December 2009 and has attracted more than 200,000 downloads, carried a one-off charge of £2.39. It stopped being sold when the new app went on sale, but continues to work.
Meawhile the Guardian's mobile website, m.guardian.co.uk (relaunched in November) drew 4,287,503 monthly unique visits in May.
It now accounts for ten per cent of its total web traffic. That's up from 4.5 per cent of traffic in 2010 and 0.6 per cent in 2009.
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