My view is that it doesn't matter of they hold spending constant or not. LTV:CAC is 3.8x.
I've said this many, many times on this forum, but if Lvt can spend $10 now, and get $3 back in that year, but have customers stick around for 6 years spending $3, then that spending is profitable. Why would you not increase spend. Why would you hold it constant.
The answer is clearly because investors unfamiliar with SaaS freak out.
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