How Mere Makes Money.
A capital-efficient B2B2C model where practitioners do the selling, subscribers generate recurring revenue, and the ring amplifies retention after the economics are proven. Every number on this page comes from the financial model and is testable within the 12-month forecast period.
$0/mo
Subscription
$0.0/mo
Contribution Margin
0.0x
LTV:CAC Ratio
$0
Practitioner CAC
Four Revenue Streams, Sequenced by Proof
Revenue streams are introduced based on operational readiness, not a calendar. Each stream activates only after the preceding one has proven its economics.
NanoActives Subscription
$79/month
Primary, launches Q2 2026
Who Pays
Patients referred by practitioners, converting from 7-day trial packs
Payment Trigger
Monthly subscription cycle, auto-renews, cancel anytime
Contribution
$21.65–$23.35/subscriber/month
Trial Packs
$9.99 per 7-day pack
Launches with clinic rollout
Who Pays
Patients in practitioner clinics
Payment Trigger
Practitioner recommendation during eligible visit
Contribution
Net negative ($11 COGS vs. $9.99 price) - acquisition cost, not profit center
Annual Plans
$806/year (15% discount)
15% adoption rate projected
Who Pays
Committed subscribers converting from monthly
Payment Trigger
Self-service upgrade after retention proof
Contribution
Higher LTV certainty, lower churn
Mere Pulse Ring
$299
Staged, not in 12-month forecast
Who Pays
Existing subscribers with proven engagement
Payment Trigger
Metric-gated: MRR sustained above $150K for 2 consecutive months, 5% churn proven, operations stable
Contribution
$152–$160 per ring after COGS, processing, practitioner payout, and return reserve
Per Subscriber, Per Month
Subscription unit economics at 20% practitioner revenue share. Shipping is carrier-cost neutral and excluded. Payment processing at 3.6% blended rate is excluded from contribution for clarity.
Revenue
Costs
NanoActives production via Okchundang
$2.50–$4.50 range, midpoint
$1.25–$2.50 range, midpoint
20% base, 25% at 25+ subs
Customer Acquisition Cost
$36.84
via B2B2C practitioner channel
Lifetime Value
$456
20-month avg lifetime at 5% churn
LTV : CAC Ratio
12.4x
Industry benchmark: 3:1
The Model Survives Stress Testing
Exit normalized MRR across conversion and churn scenarios. The three load-bearing assumptions, contribution margin, trial-to-paid conversion, and monthly churn, are varied independently. The model remains cash-positive across all tested scenarios.
| 4% Churn | 5% Churn | 6% Churn | |
|---|---|---|---|
| 20% Conversion | $371K | $364K | $358K |
| 22.5% Conversion (Base) | $418K | $410K | $402K |
| 25% Conversion | $464K | $455K | $447K |
Source: Mere Financials Pre-Seed Jan 2026, Sensitivity Analysis (Conversion × Churn matrix)
Why This Model Persists
Recurring Revenue Dominance
Subscription revenue is the primary driver. Trial packs are an acquisition cost, not a profit center. The ring is additive hardware margin introduced only after retention is proven. The business does not depend on one-time sales.
Practitioner Trust Engine
The B2B2C model means practitioners, not ad spend, drive conversion. Practitioner-referred patients show 80% subscription attach rates and less than 3% monthly churn. This is not a CAC arbitrage, it is a structural distribution advantage.
Pricing Power Indicators
At $79/month with 90% early cohort adherence, the willingness-to-pay signal is strong. The annual plan at 15% discount ($806/year) locks in LTV. Competitors like Ritual ($30/mo) and Care/of ($39/mo) validated premium pricing in supplements.
Operational Discipline
Revenue streams activate by proof, not by calendar. Ring introduction is metric-gated at $150K+ sustained MRR. DTC expansion launches only after 90-day retention cohorts are proven. Each phase de-risks the next.