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  "documentTitle": "Nerdy | SPAC Presentation Deck | 70 slides",
  "authorId": "nerdy",
  "authorName": "Nerdy",
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  "presentationDate": "2021-04-01 00:00:00",
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  "notes": "The slide uses a series of line charts to demonstrate cohort performance improvement.",
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      "text": "LTV expansion driven by multi-format engagement and higher consumption. Recent cohorts' initial LTV significantly higher than historical periods. 2H 2020 Cohorts surpassed in one quarter the LTV of the same 2019 cohorts after five quarters. Q3 2020 and Q4 2020 demonstrate expansion durability.",
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      "text": "1. Total Net Sales Lifetime Value (\"LTV\") defined as new one-on-one customer cohort actual spend for historical months, multiplied by average net sales gross margin rate. 2. Percentage change represents most mature quarter LTV of the 2020 cohort as compared to the same quarter of the 2019 cohort.",
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      "text": "LTV Expansion Accelerating",
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