<aside> <img src="/icons/calendar_green.svg" alt="/icons/calendar_green.svg" width="40px" /> This July 2024 update reviews our performance from June 2024.

You can expect to see our next update on August 20, 2024, reviewing performance for July 1-31st, 2024

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<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

Loom

https://www.loom.com/share/12278714a0eb495a8039a69cd9e0151b

Letter

<aside> <img src="/icons/circle-dot_green.svg" alt="/icons/circle-dot_green.svg" width="40px" /> Levels Investors –

This month, sales continued to exceed our forecast but returned closer to the baseline. We observed a seasonal slowdown in demand in June, which is in line with past years. We balanced our focus on continued development with the evaluation and testing of recently released features.

In the past month, our product and engineering team has made progress in several areas:

• We have enhanced our insights feature to provide advanced analysis of different habit metrics and to encourage customer action.
• We are working on a metabolic fitness insight that will allow customers to track improvements over time.
• We are making improvements to the navigation of our glucose graph and the accuracy of our zone scores
• Through our first round of testing standalone software via our freemium beta release, we discovered an opportunity to improve our onboarding workflows to facilitate the activation of new customers. We began scoping a project to accomplish this.

In growth, we surpassed our acquisition target for the month by 2.4%, which was supported by strong awareness created by Good Energy. Additionally, we:

• Tested freemium standalone software which performed on par with our existing offering while still in beta, but with significant opportunities identified for improvement
• Launched a series of metabolic health videos with Rob Lustig to enhance trust and improve the consideration stage
• Continued our work to commercialize our comms platform and gained a better understanding of the purchasing cycle and our positioning strategy

In operations and support, we are continually improving our efficiency while improving support SLAs, happiness and NPS metrics

<aside> <img src="/icons/arrow-right-basic_green.svg" alt="/icons/arrow-right-basic_green.svg" width="40px" /> Next Month

In product and engineering we have several features shipping, including the metabolic fitness insight and glucose chart which will both improve the insights and experience customers get from our app.

We’ll continue to improve our standalone software offering by:

• developing better onboarding tools to improve activation, and
• evaluating upgrade approaches such as free trials along with our freemium offering
• testing acquisition approaches through partnership advertising, performance marketing, and
• continuing to measure behavior and learn from our beta cohort

We expect acquisition rates for our classic offering to remain relatively steady throughout the summer, consistent with previous years’ seasonal trends.

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<aside> <img src="/icons/help-alternate_green.svg" alt="/icons/help-alternate_green.svg" width="40px" /> Asks

<aside> 🤝 Referrals for Comms

If you know of any organizations seeking an alternative to Slack for internal communications, particularly those focused on deep, asynchronous work, we would greatly appreciate direct introductions. We believe our platform, Comms, offers a superior solution and would love the opportunity to demonstrate its value to interested organizations. See below to learn more about Comms.

Please reach out to @Tony Milio ([email protected]) for the introductions.

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<aside> 🙏 Special thanks this month to Arun Gupta, Mason O'Hanlon, Arielle Zuckerberg, Marshall Cunningham, Joshua Bonhotal, and Illia Papas.

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Table of Contents

Metrics

<aside> 👉 June saw our metrics return to baseline following a strong result in May - this was in line with expectations. This month we saw a better-than-expected acquisition while retention improved but fell slightly below target. LTV:CAC exceeded targets but declined significantly since May - this was driven by a return to baseline acquisition as well as the timing of our paid partnership spending.

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<aside> 📝 Definitions for New customers, LTV:CAC, 12 month retention, Normalized Burn Rate, and Runway are included in our Metrics Appendix.

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Open Roles