Reading your P&L Answer 34 of 36 Updated

How do I read the LTV tab?

Read it from the top down. It shows what an average customer has been worth so far, what that brought back for each euro spent winning them, and which customers are worth more. LTV means lifetime value: everything a customer brings you over time.

The tab has its own dates, in the date button at the top. They pick which customers count: the customers won in those dates, the ones whose first order falls in them. Open the dates and the bottom of the picker says Customers won, with how many customers the days you pick won. The picker offers the same quick choices as every page, a Custom range you can type, and a calendar. Their value keeps counting after the dates end, up to today. The tab opens on All time, every customer since your first synced day. Pick Last 90 days to see only the customers you won in the last 90 days. The date range of the other Insights tabs does not change this tab.

Four figures sit at the top. Avg 365-day LTV (revenue) is what customers spent in their first year, without VAT and after refunds. Avg 365-day LTV (contribution) is what that first year left after refunds, product costs, shipping and payment fees. Both count only customers who have been with you the whole year. A window needs at least 10 such customers, and at least a tenth of the customers won in your dates. When the year has too few, the figures read the longest window that has enough: 180, 90 or 30 days. The label says which, like Avg 180-day LTV (revenue). Repeat purchase rate is the share of these customers who ordered two times or more. Avg orders per customer is how many orders an average customer placed.

Below them sits the LTV:CAC card. It sets what customers were worth in their first days against what winning them cost. CAC means customer acquisition cost: your marketing spend divided by the new customers it won. Revenue LTV:CAC uses what customers spent. CM1 LTV:CAC, also called LTGP:CAC, uses what was left after product costs. CM2 LTV:CAC, also called contribution LTV:CAC, uses what was left after shipping and payment fees too. 1× is break-even. Above it, a customer has paid back what winning them cost.

The card picks its window the same way, 365 days if enough customers are old enough, else 180, 90 or 30, and names it. It only counts customers won on days nouz holds your marketing spend for, from the first day with spend. CAC is the marketing spend of the days these customers were won in, divided by them. Until enough customers are old enough, the card names the day it appears, like LTV:CAC for these dates appears on 12 Nov 2026. With no marketing spend for your dates, it says so.

Value is measured three ways, and a switch on the chart picks one: Revenue, CM1 and CM2. Revenue is what customers spent, without VAT. CM1 is what that left after product costs. CM2, the default, is what it left after product costs, shipping and payment fees.

Refunds are taken off on the day they happen, in the month they fall in, so a line can dip. A refund's value comes off all three. What the goods cost you comes back to CM1 and CM2. What it costs you to take a return back, the label and the handling, comes off CM2.

Customers are told apart by their Shopify customer ID. Orders placed as a guest are left out, with their refunds. A customer who bought before your first synced day looks new here. The other Insights tabs are explained in what is on each Insights tab.

Then come the charts and tables, for the same customers. Customer value over time and the Cohort table show how value builds up month by month. The Cohort table's LTV:CAC view sets each month against its own CAC. LTV by first product, LTV by promotion and LTV by country show which groups of customers are worth more.

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More in Reading your P&L

All 36 questions
  1. 32 How do I know whether my ads pay?
  2. 33 What do repeat purchase, order cadence and purchase journeys show?
  3. 34 How do I read the LTV tab? You are reading this
  4. 35 What do Customer value over time and the Cohort table show?
  5. 36 What do LTV by first product, promotion and country show?

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