Do not attempt to sell code based on interpreted or scripting languages with expectations of sales exclusivity for the code alone. It will be decoded, unobf'd/RE'd and used without your consent if it is worth the time/effort/cost to decode and unobf/RE it. You will likely not even know about it when it has happened. At least with compiled languages and a strong license agreement you have some decent protection, both technically and legally, from competitors poaching your code. You still face the issue of non-paying users though and PHP is no exception to that rule either in addition to being very weak to poaching as well.
Encoding PHP with extensions is akin to leaving the keys in the ignition of your unlocked car with a note taped to the steering wheel stating "please do not drive away in this vehicle". Pointless. And a waste of paper.
PHP is free and is nothing more than an open scripting language. Might as well keep it that way by choice lest you be let down when someone else reminds you of it firsthand. Sell "you" and "what you can do with PHP" rather than treating a system of scripts like it is a standalone product that can be sold and marketed because it can't be unless you're dealing with very simple, not-so-resourceful people who are unable to use, or find someone they can pay to make use of, your raw, unencoded PHP in the first place.
Programmers familiar with PHP can and will access anything you've done if they have the encoded .php files locally available to them to run the specific decoder on. This is not new but years old. There are also services that will batch decode PHP for very little ($2/kb) which makes it very difficult for you to hold any script(s) hostage if you're dealing with clients that have so much as the ability to use google. The ones for sale (Zend, ionCube, CodeLock, etc.) are all broken. They sell you the encoding then decodezend.com or some such site sells your client, whom you were trying to keep the script(s) from, the decoding service. Everyone wins as long as they are in the encoding or decoding spectrum of the arrangement. You, however, lose and waste time doing so.
Monetize deployment, config, continual support and updates, etc (SAAS). That is what you really have to focus upon to turn the blood, sweat and tears into profit. Don't put your script on a server outside of your control until the check clears, because once you do, it's really already theirs whether it is encoded or not. PHP is inherently hard to pilfer unless you have access to the .php files and accompanying MySQL config in the first place. Charge for that access.
IMO, if you have successfully protected a PHP script and it hasn't been decoded yet it's likely because you missed the already existing and freely available script/system/tutorial that does the same or very similar things before you began the project. Hence, the whole thing you're trying to protect may not have even needed to have been developed from scratch, let alone does it really need protected. PHP has matured to where it seems everything has already been done at least once, it is thoroughly-documented and is out there for the taking, and can be used at the very least as a base upon which you can build for your specific needs. This beautiful side of PHP that makes it so easy for you to build on others' work is also the ugly side which makes it equally easy for the next guy to do the same with yours.
TL;DR Version:
PHP is too open to successfully monetize the code. It was designed to be this way. SAAS. SAAS. SAAS. Also, SAAS.