Attributed revenue ≠ incremental revenue. Use Illuminate for incrementality-adjusted channel efficiency.
Refractive operator benchmarks — based on DTC brands doing $1M–$50M ARR.
| Metric | Healthy | Watch | Critical |
|---|---|---|---|
| MER | ≥ 4.0x | 2.5x – 3.9x | < 2.5x |
| Gross Margin % | ≥ 55% | 40% – 54% | < 40% |
| Contribution Margin % | ≥ 20% | 10% – 19% | < 10% |
| CAC:AOV Ratio | < 0.5x | 0.5x – 0.8x | > 0.8x |
| LTV:CAC | ≥ 3.0x | 2.0x – 2.9x | < 2.0x |
| New Customer % | 30% – 50% | 20% – 29% | < 20% or > 60% |