Matt Miller

In the early days, you had big wearable, or big sports apparel brands, excuse me, so you had the Nike, Under Armour, Adidas, Puma crowd.

You then had entries from the tech market, so you had Microsoft and Google and Intel and Amazon, Meta, and so there's been a lot of players, I would say broadly, in the wearable space.

Today, there's actually maybe the fewest number of players that I've seen in the last five years, and yet the wearables market has grown enormously.

You know, when I first started the company, I think less than 5 million wearables were sold a year.

Now that figure is 300 to 400 million devices a year and continues to grow.

So we're very excited about where the company's positioned and we think we're still in the early days despite the maturity of the business.

So I'm obviously a customer and so many people here around me are customers.

Do they stay?

Do we stay?

Are you retaining customers?

Those that have 12-month subscriptions, are they going to 24?

Are they renewing?

Well, we recently actually launched three membership tiers.

So it used to be you can sign up for $240 a year.

Now there's a lower plan and a higher plan, $360 a year for Whoop Life.

And we've actually seen an overwhelming number of people migrate from our middle tier to our highest tier.

And that demonstrates, I think, that our members are willing to pay for

enhanced features, premium capabilities, an additional medical sensing portfolio that we've rolled out.

So now WHOOP has ECG monitoring with AFib detection.

We've come out with blood pressure insights, which were the first wearable to do.