Ann: Halo Food Co Acquires The Healthy Mummy, page-138

I know where to look, but don’t get the same conclusion as you.

Average earnings per customer (or customer LTV) is $246 over 36 months or $82/year.

39% of revenue is subscriptions so $8.1m ($21.7m x 39%)

$8.1m subscription revenue divided by LTV of $82/year suggests a PAYING customer base of 98,000.

This number broadly ties back to the chart on number of subscribers.

Where am I going wrong?

How do you come to your conclusion that:

“ 1 out of every 2.5 digital subscribers is a paying client. They last a year and then they are gone. THM has to spend 3 month subscription revenue to get a client, then has only a year to get as much out of them as they can”