Eight quarterly cohorts. Twelve months of observed retention each (where the calendar allows). The divergence is not subtle: a 36-point gap at month 12 between our oldest vet-referral cohort and our youngest paid-social one. This is the longevity thesis, told in churn.
Q1–Q3 2024 cohorts, acquired primarily through clinic partnerships and DVM referrals, hold 78–82% at month 12. These pets are usually on the Complete or Therapeutic tier. The vet is in the loop. Cancellation is a clinical decision, not an impulse.
From Q2 2025 onward, paid social became the dominant acquisition channel. Month-3 retention collapsed from 91% to 73%. These customers are pet-curious, not pet-committed. Cheaper CAC, but the LTV math doesn't survive contact with month six.