Lifetime Value (LTV)
定義
LTV is the total gross profit a customer generates over their entire relationship with the company, driven by revenue per customer, gross margin, and retention.
資金調達における位置づけ
Paired with CAC, LTV defines whether growth is worth buying: an LTV-to-CAC ratio of 3 or more is the standard SaaS benchmark.
よくある質問
How do I calculate LTV for an early startup?
With limited history, use average revenue per account, gross margin, and observed churn to estimate; label it clearly as an estimate, since investors will.
Why use gross profit rather than revenue in LTV?
Because only margin funds the business; revenue-based LTV flatters low-margin models.