Ann: TechKnow Invest Roadshow Presentation-NOR.AX, page-62

I am very suspect when companies change their reporting metrics, as ZIP did many times and NOR are starting to do more and more as well.

However my interpretation would be that the 2-3% retained users are actively using the app (however they choose to measure that) whilst the 50% repeat purchases likely means that someone who pays once has a 50% chance of paying again.

So hypothetically (and grossly oversimplified)

• 4 million users
• = 100 000 active users (2.5%) use the app on a daily/weekly/whatever basis
• 50 000 users make a payment in January, then 25 000 of those make a subsequent payment in February. Even if this whittles down, hopefully there are new users flowing through to take their places.

Averaging makes it tough though and like I said, if the company isn't just spelling out the figures in a clear way, its not ideal to have to try and make sense of the tea-leaves imo.