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Inside Levels - Friday Forums and Investor Updates
<img src="/icons/star_green.svg" alt="/icons/star_green.svg" width="40px" /> Our top-level objectives for the next 12 months are:
- Member retention – measured by monthly active users after first month of use, to build a product that people want
- New member acquisition – measured by members purchasing Levels memberships
- Member health improvement – improving underlying health metrics and helping members meet their individual goals
A company-wide OKR planning process by function is wrapping up in September, from which we’ll begin to share a metrics dashboard with monthly progress reporting.
<img src="/icons/phone_green.svg" alt="/icons/phone_green.svg" width="40px" /> Product
- Released a handful of significant features to improve overall experience: Stability Ring, Spike Detection, Improved Logging, and Event-based insights
- Experimentation for proactive food-based guidance (Healthier Food Choices), and in-app recommendations from influencers and experts (In-App Personalities)
<img src="/icons/activity_green.svg" alt="/icons/activity_green.svg" width="40px" /> Demand, Growth, & Marketing
- 40% of new members organic via homepage traffic, 25% from waitlist invite emails
- Subscriber attach rate at 59% for Q3 to date, up 10% over last two quarters
- Paid podcast partnerships with David Sinclair, Tim Ferris, Andrew Huberman
- Experimenting with partner offers
- Kickoff of UK Alpha with Founding Member Cohort
<img src="/icons/gear_green.svg" alt="/icons/gear_green.svg" width="40px" /> Operations highlights
- Flat month in completed orders; replacement rate increasing
- Support volume stabilizing following July launch
- NPS +3 to +53pts
- CSAT steady at 87%
<img src="/icons/feed_green.svg" alt="/icons/feed_green.svg" width="40px" /> Content highlights
- 13 new articles published, 10 WNL podcasts released
- Editorial email project focusing on personalized content; launch of Community Newsletter
- Site traffic up 12% from July (200,000 visitors)
- Email open rates averaging 40%, with 6% CTR
<img src="/icons/cash_green.svg" alt="/icons/cash_green.svg" width="40px" /> Finance highlights
- Revenue: $1.49mm (prev “Cash Receipts”), down 6.6% from July 22; up 82% from August 21.
- 70% CGMs, 27% membership fees, 3% metabolic health panel (bloodwork)
- Cash on hand: $32.7M + $10M of available venture debt
- Cash burn: $1M (burn target of $1M/month average)
- Runway: 33 months
Table of Contents
People & Team
Stoddy Carey (LinkedIn) joined the Research & development team bringing the total fulltime headcount to 56 team members.
Stoddy has been with Levels for four months as an independent contractor helping to build the compliance and regulatory framework for running two large 50K-person clinical trials. Now, he’s stepping into a full-time role on the research team.
We anticipate a few additional hires in the month of September, primarily from the open Software Engineering roles. We also hope to fill the People Operations role in the coming 4-6 weeks.