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Growth
Where the subscribers came from
Actual versus plan
Subscribers have beaten the board plan every month
The dashed line is what the board underwrote. The solid line is what happened — while the product still cost $15 a month.
Acquisition
New subscribers per month
Read on the shape
New subscriber adds sat in a band around 390 a month from March through June, then jumped to 689 in July — the strongest month of the run and 15% ahead of a plan that had been raised every quarter.
That July step change came alongside the App 2.0 launch and the marketing ramp to $13K a month. It is the clearest signal we have that spend converts.
Total subscribers exceed the running sum of new subscribers because the total also reflects accounts added through partner and coach channels. Source: Operating Cash Flow Forecast tab.
The plan this round funds
100K by December. 2M by October 2028.
These are the board’s forward targets, and they assume the app goes free. Every figure past July 2026 is a projection.
Dec 2026
100K
Total subscribers
Aug 2027
500K
Total subscribers
Jan 2028
1.02M
Total subscribers
Oct 2028
2.01M
Total subscribers
The honest constraint
The December target needs acquisition cost to fall
$900K of marketing has to carry us from 29.3K to 100K. At today’s cost per user it lands short. Removing the price is the lever that closes the gap.
At $18 per user
79.3K
total users, buying 50K
Short of 100K
At $12 per user
104K
total users, buying 75K
Clears 100K
At $8 per user
142K
total users, buying 113K
Clears 100K
At $5 per user
209K
total users, buying 180K
Clears 100K
At the $18 we pay today, the round’s marketing budget reaches roughly 79.3K users — short of the December target. The plan requires cost per user to fall to around $12, and paid acquisition is budgeted on that basis.
The reason we think it will: every user in the 2.07% July conversion rate converted with a fifteen-dollar price standing in the way. Removing it is the single largest change we can make to the funnel, and it costs nothing to make. Paid acquisition then compounds against a converting funnel rather than fighting a price objection.
Operating KPIs
Sixteen months of funnel, not nine
The traction sheet runs back to April 2025 — seven months further than the P&L. Its user lines tie exactly to the income statement, which is the best evidence we have that the subscriber numbers are clean.
Read on engagement
Active users flattened between February and May 2026 — 4,111 to 4,809 — while the registered base nearly doubled. June and July broke the plateau to 6.9K, which is the same two months the App 2.0 launch and the marketing ramp landed in.
23% of the registered base is active in a given month. That is the number a brand partner will underwrite against, not the 29.3K headline.
Conversion is new customers over site visits, as reported. The July rate of 2.07% is the strongest since April 2025 and reverses four months of decline.
Retention and efficiency
Cheap to acquire, slow to leave
$18 to acquire a customer
July marketing spend of $13K across 689 new customers works out near the reported figure, so the two workbooks agree on acquisition cost.
0.43% monthly attrition
108 accounts lost in July against an opening base of 25K. Attrition has grown with the base but has never accelerated faster than it.
20:1 on a stated assumption
LTV is a flat $360 per customer in every month of the sheet — 24 months at the $15 price. It is an assumption, not a measured cohort, and should be presented that way.
Audience
Fewer partners, more output
Partner count peaked at 178 in Apr 26 and has come down to 154, with monthly posts down from 168 to 140 over the same stretch. New customers went up 78% across those months.
We read that as concentration working — pruning partners who weren’t converting and putting the support behind the ones who were. It is worth saying plainly rather than hiding a declining line, because the outcome improved while the input shrank.
Channels
What actually moves the number
Partnership marketing
5% of raiseAlready good, and the cheapest subscriber we acquire. This round funds targeted support and materials so partners can push harder. 5% of the raise.
Influencer layer + paid
36% of raiseA mixture of free and paid influencers layered behind a marketing push. This is where 36% of the round goes, against $13.2K a month today.
Owned social, run by the ESOP
$80K/yr avoidedVPs bring their own audiences to their own verticals. That structure avoids roughly $80K a year in social media headcount.
Freemium down to 7th grade
4M → 16MOpening the platform to middle schoolers builds recruiting habits early and moves the addressable base from 4M to 16M in the US alone.
Market
The addressable base grows with the model
Nobody else in this category views it internationally. Sports are international, and the athletes we want to attract are too. The non-US market adds roughly 260 million athletes worldwide, which is the single largest lever on the addressable market.