Good points @carnabombers and @doctornoh's - I agree that EBITDA...

Good points @carnabombers and @doctornoh's - I agree that EBITDA not super insightful at the moment as Whispir builds its foundations in newer markets and invests heavily in sales, marketing and product.

Q1 did seem a little light on customers though as they spent $1.6m on advertising and marketing to acquire 33 new customers, implying a CAC of $50k. They've said before that their LTV/ CAC is 26.1x, implying each of those customers should have an average LTV of $1.3m (or 32x gross margin).

This seems high at the moment and it might just be the new market dynamics playing out. We're going to be following it closely.

I wrote more about this my blog comparing LTV/CACs across ASX technology companies - https://www.andycrebar.com/p/metrics-for-evaluating-asx-tech-unit-economics