Program overview · Trailing 12 months · All locations
The program earns $6.40 for every dollar it gives away
Reward liability, membership revenue and incremental spend on one surface — so the answer to “is this working?” never requires an export.
Membership MRR
892 active members across three locations.
12-month retention
Members retain at 95%, non-members at 71%.
Lifetime value
Blended across all tiers. Noir sits at $61,300.
Reward liability
Outstanding points valued at redemption cost.
Revenue composition
Membership revenue in brass, service revenue in graphite, reward cost inverted below the axis.
Monthly revenue vs reward cost
Thousands of dollars. August is month-to-date.
Program economics
Where the margin actually comes from.
Incremental member revenue
Spend above the non-member baseline
$1.8M
Reward cost redeemed
At cost of service, not retail
$287k
Return on rewards
Incremental revenue per dollar of reward cost
6.4×
Redemption rate
Of points earned in the last 12 months
38%
Breakage
Points expired unredeemed — deliberately low
9.2%
Retention by membership status
Members vs non-members
Percent still active 12 months after first visit.
The 24-point gap is the entire investment case for the program. It has widened every quarter since the Signature credit began rolling for 90 days.
Tier distribution
Clients and revenue by tier
137 Noir clients produce 31% of revenue.
1,092
Guest
986
Silver
542
Gold
137
Noir
Enrollment cohorts
Percent of each cohort still active by month.
| Cohort | Size | M1 | M2 | M3 | M4 | M5 | M6 |
|---|---|---|---|---|---|---|---|
| Feb 2026 | 148 | 96% | 88% | 81% | 76% | 72% | 69% |
| Mar 2026 | 162 | 97% | 90% | 84% | 79% | 74% | — |
| Apr 2026 | 171 | 95% | 89% | 83% | 78% | — | — |
| May 2026 | 184 | 98% | 92% | 86% | — | — | — |
| Jun 2026 | 176 | 96% | 91% | — | — | — | — |
| Jul 2026 | 193 | 97% | — | — | — | — | — |
Highest trailing spend
Reward cost redeemed this period: $4,595 across 8 redemptions · 38% redemption rate.