SYSTEMM · Unit Economics

PHYSICAL TIER

ARPU · $/MEM/MO$4,400

GROSS MARGIN %66%

MONTHLY CHURN1.3%

CAC · $/MEMBER$1,000

STEADY-STATE MEMBERS500

RAMP · MO TO 90%36

FIXED OPEX · $/MO$590k

DIGITAL TIER

DIGITAL TIER · $50/MO APP-ONLY ON

DIGITAL PRICE · $/MO$50

DIGITAL MEMBERS (Y3 EOY)6,000

DIGITAL ANNUAL CHURN30%

DIGITAL CAC$80

~92% MARGIN · NO CAPEX · ALL ILLUSTRATIVE

STEADY-STATE EBITDA

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MARGIN: —

LTV

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LTV / CAC

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PAYBACK

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CONTRIB / MEM / YR

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($ 000s)	Y1	Y2	Y3
Avg physical members	—	—	—
Physical revenue	—	—	—
+ Digital tier revenue	—	—	—
Gross profit	—	—	—
Fixed OpEx	—	—	—
Acquisition spend	—	—	—
EBITDA · combined	—	—	—

M0M12M24M36

	$700	$1.0k	$1.3k	$1.6k	$1.9k	$2.2k	$2.5k

Unit economics.