The stickiness of subscription is more akin to gyms than SaaS. Requires hardware to deliver value throughout the relationship. No gym equipment no revenue. No GPS unit no revenue.
Hardware depreciates and is required to be maintained/replaced at a cost. SaaS companies don't have same problem.
Sales are typically needs driven and value add comes from experts to decipher data and help improve performance. This all contributes to stickiness. Take it away and retention drops.
As you say when the product is clearly defined costs can be reduced relative to revenue. But demonstrating value is critical when creating a new market so I don't see this happening for a while. (which is ok)
Ann: Board Governance Update to Support Continued Growth, page-31
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