<aside> 💡 After 12 months, all historic Investor Updates, Friday Forums, and other inside the company content can be found here:

Inside Levels - Friday Forums and Investor Updates

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Overview

https://www.loom.com/share/2f78008c91c64dbdbae89022935ef5be

<aside> <img src="/icons/star_green.svg" alt="/icons/star_green.svg" width="40px" /> Our top-level objectives:

1. Member retention – measured by monthly active users after month 1 (build a product that people want)
2. New member acquisition – measured by members purchasing Levels memberships (sell the product to new members)
3. Member health improvement – improving underlying health metrics and help members meet their individual goals </aside>

<aside> <img src="/icons/activity_green.svg" alt="/icons/activity_green.svg" width="40px" /> Black Friday Cyber Monday – Promotion & Experimentation

• In November we had 2,129 new membership purchases (+26% m/m), largely driven by a Black Friday / Cyber Monday campaign which generated ~850 membership sales. The promo was offered exclusively to previously unconverted waitlist/email list members.
• We’re focusing on rebuilding checkout flows, building email/lifecycle marketing, performance marketing, product-led growth (referrals), and partnerships, and building on our existing demand generation initiatives.
• Our top three podcast partners for the month were David Sinclair, Andrew Huberman, and Tim Ferriss who collectively drove 8.36% of member signups in November. </aside>

<aside> <img src="/icons/gear_green.svg" alt="/icons/gear_green.svg" width="40px" /> Operations transitioned IRB orders to no-RX, utilizing research fulfillment

• Lowers fulfillment & ship time by an average of 2 days
• Reduces complexity for refills & expired prescriptions
• Simplified checkout flow led to 11% improvement in completions </aside>

<aside> <img src="/icons/cash_green.svg" alt="/icons/cash_green.svg" width="40px" /> Finance highlights

• We ended November with $1.60M in gross revenue, an increase of 7.7% from October. Revenue grew 108% from November 2021. Burn also increased to $1.26M. </aside>

Table of Contents

People & Team

OKRs, Objectives, & Metrics

After defining top level company objectives in August 2022, we launched the first iteration of quarterly functional OKRs in October for Q4. This effort was intended to align our functions towards company objectives, provide clarity on direction, and allow for accountability and resource allocation on those highest priorities.

Looking ahead to Q1’23, we’re iterating on the process, with a focus on better defining the core business metrics necessary to track performance, and more clearly aligning objectives to our refreshed product & business strategy. More to come on this process in coming updates.

New Hires

We added three new hires in November, bringing the total full-time headcount to 61 team members.

Rafael Lüder (LinkedIn) and Juan Gomez Aranzazu (LinkedIn) joined Product and Design, and Adam Tilton (LinkedIn) joined Technology R&D.

Rafael Lüder comes from Frog, where he worked alongside UI/UX, strategy, and product teams to deliver great user experiences for its clients across multiple industries. He will help build awesome in-app features for our users once he ramps up.

• Expand for Rafael’s bio

Juan Gomez Aranzazu joins us from Colombia where he has been a remote engineer and engineering manager for companies in the Bay Area and in Tokyo. As part of the engineering team, he will be helping us build key systems for our members.

• Expand for Juan’s bio