My point was it seems insane to me that the lifetime value of a customer who has billed something to a credit card would be over $120, especially in the space of Email as a Service. I would guess (without any knowledge) that it'd actually be closer to $12 because of all the people who try it out and then never continue.

They take in less than the referral payout in revenue for a customer who sends tens of thousands of emails a year for five years based on their pricing page.