Revenue came in at $899.7K (-2.8% WoW) on essentially flat spend of $365K (+0.4%), pushing blended CAC to $109 (+6.9% WoW) and MER to 2.46x (-3.5%). NCs/day fell to 478 from 509 the prior week, while site CVR ticked up to 2.42% (+0.04pt) and CPM eased to $29.26 (-12.6%). Blended CAC tracked $24 above the $85 target and NCs/day landed 122 below the 600 target for the fourth consecutive week.
Impressions grew 15% WoW to 12.5M while CTR dropped 0.19pt to 0.78%, leaving sessions roughly flat at 224K (+1.4%). ATCs rose 3.0% to 13.6K but checkouts fell 5.4% to 9.1K, and NCs landed at 3,347 (-6.1%). The ATC-up / checkout-down split is the largest single-step gap in the funnel this week.
Facebook carried 71% of trackable spend at $258K with a $195 Northbeam CAC, up from $170 the prior week. YouTube spent $38K (10% mix) at $266 CAC for 143 NCs, while Google held $25K at $42 CAC and Amazon posted 9.48x ROAS on $10.7K. Meta CAC has now risen WoW for three consecutive weeks ($151 → $160 → $170 → $195).
Meta CAC came in at $195 (vs. $170 prior week and a $120 first-order target band), with CPM down to $38.77 (-10% WoW) but CTR dropping 0.20pt to 0.89% on 1,321 NCs. The ABO sandbox carried 55% of Meta spend at $179 CAC, while the SHA ASC scaling campaign hit $206 CAC on $76.5K — the Founder vs MushroomCoffee July 4 listicle ad alone drove $63K spend at $160 CAC. The two Val Laforge partnership adsets combined for $5.1K spend and 6 NCs ($648 / $640 CAC) and the OverCaffeineAngles + JohnnyxShane Mashup + 43%Promo cells together spent $3.4K for under 7 NCs.
Google Ads Deep Dive
13-week trends — Google Ads + Google Canada + YouTube Ads
SPEND / CAC / CPM / CTR · Northbeam (Clicks Only)
CPM
$15.80 this week
CTR
0.74% this week
CAC (Northbeam)
$85 this week
New Customers
753 this week
Campaign
Spend
Impressions
CTR
NCs
CAC
ROAS
og_search-brand
$8,132
30,296
35.2%
415
$20
6.85x
og_search-conquesting
$7,988
96,206
2.61%
109
$73
2.29x
og_search-nb_mushroom-coffee
$6,435
35,743
4.55%
57
$113
2.14x
og_search-nb_beta
$2,070
13,948
3.27%
15
$141
1.44x
og_search-nb_coffee-alternative
$645
4,057
4.63%
3
$207
4.75x
ca_rise_pmax + ca_search (Canada)
$677
24,260
~3.5%
11
$60
7.63x
Total Google (US + CA)
$25,948
204,510
—
609
$43
~3.7x
US Google delivered 598 NCs at a $42 blended CAC on $25.3K spend, with brand search (og_search-brand) accounting for 415 of those NCs at $20 CAC and 6.85x ROAS. Non-brand campaigns ran materially higher: mushroom-coffee at $113 CAC, beta at $141, and coffee-alternative at $207 on $645 spend / 3 NCs. Brand-term volume continues to dominate the channel's reported efficiency (~69% of NCs from ~31% of spend).
Brand Demand — Last 13 Weeks (Direct + Organic Search)
Weekly sessions 13-week avg
Direct sessions came in at 45,849 this week, the lowest of the last 13 weeks and down from a 13-week peak of 75,296 in mid-March (-39%). Organic Search held more steady at 10,311, roughly in line with the 13-week average of ~10,200. Direct traffic has now declined WoW for six consecutive weeks (75K → 69K → 62K → 57K → 51K → 50K → 46K).
The two highest-traffic cold-traffic LPs both sit below the 2% floor: /pages/rise-2 at 1.68% on 53.1K sessions and /pages/compare-listicle-og at 1.58% on 32.0K sessions. Warm-traffic destinations CVR meaningfully higher — /products/30-servings-tin at 3.25% (34.3K sessions) and the homepage at 2.69% (29.2K sessions). Combined, the two sub-floor LPs represent ~38% of top-7 sessions.
Subscription Health
Active subscribers and net change (Recharge billing-cycle aligned)
ACTIVE SUBS / NET CHANGE · Omni (Total Subscribers / Net Subscribers)
Active Subscribers — Last 13 Weeks
Total Active Net Change / Week
Active Subscribers
119,666
↓ 202 WoW
Net Change This Week
-554
Prior wk: -22
13-Week Trend
-3.5%
From 124K → 120K
Subscriber Retention by Cohort
Cohort
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Target: 61%
Target: 45%
Target: 36%
Target: 30%
Target: 25%
Target: 21%
May 2025
59.4%
43.0%
34.2%
29.0%
24.7%
21.3%
Jun 2025
57.8%
41.5%
33.1%
28.0%
23.8%
20.5%
Jul 2025
60.5%
44.8%
35.2%
29.6%
25.0%
21.7%
Aug 2025
59.8%
43.5%
34.9%
29.3%
24.9%
21.4%
Sep 2025
60.1%
44.2%
35.8%
30.1%
25.4%
22.1%
Oct 2025
62.3%
46.6%
36.7%
31.3%
26.8%
22.4%
Nov 2025
62.8%
46.3%
38.0%
31.8%
26.2%
22.0%
Dec 2025
61.4%
47.9%
38.8%
31.5%
26.5%
—
Jan 2026
67.1%
51.5%
39.4%
32.0%
—
—
Feb 2026
63.7%
48.2%
37.5%
—
—
—
Mar 2026
61.2%
46.0%
—
—
—
—
Apr 2026
59.8%
—
—
—
—
—
Active subscribers closed the week at 119,666, down 202 WoW, with weekly net change of -554 (vs. -22 the prior week). The 13-week trend is -3.5%, moving from ~124K to ~120K, and net change has been negative in 11 of the last 13 weeks. The Jan 2026 cohort remains the standout (67.1% / 51.5% / 39.4% at M1/M2/M3, all above target), while the Apr 2026 cohort came in at 59.8% M1 — just below the 61% target.
Email drove $118.7K (~13% of total revenue) across 5 sends, with the May 19 TWB Newsletter alone accounting for $68.4K (58% of weekly email revenue) at a 53.6% open / 0.56% click. The Memorial Day Sale to subscribers (May 22) drove $33.5K on 85K recipients with the lowest open rate of the week at 39.7% but the highest click rate at 1.17%. The May 24 Target launch send to 66K had a 0.38% click and 7 conversions for $569.
Instagram Organic
@mudwtr
FOLLOWERS / POSTS / REACH · Meta Graph API (IG business account 17841407401053372)
Follower Growth — Last 12 Weeks
Total Followers Net New / Week
Followers
380,401
@mudwtr
Total Posts (lifetime)
1,793
Posts This Week
—
Post-level data unavailable
Account
17841407401053372
Post-level data unavailable this period
The Instagram block returned profile metrics (followers, media count) but no individual post details for the May 18–24 window. Account-level data is intact.
Account stands at 380,401 followers and 1,793 lifetime posts. Post-level reach, engagement, and posting cadence for the May 18–24 window were not returned by the Graph API this period — only profile-level metrics are intact. Week-over-week post performance comparisons are not possible until the post-level pull resolves.
Industry News
Web search · Last 7 days · MUD\WTR + Ryze + Four Sigmatic + Everyday Dose + Space Goods
SEARCH INTEREST · google-trends-api (US, past 90d)NEWS · Google News RSSREDDIT · Reddit JSON (search across /r/biohackers /r/nootropics /r/coffee /r/tea)
MUD\WTR Brand Interest — Last 13 Weeks (Google Trends)
Combined search interest
Competitive Search Interest — Last 13 Weeks (Google Trends, US)
MUD\WTR Ryze Everyday Dose Four Sigmatic
Two mainstream press hits landed for MUD\WTR this week (Slate's "weird mushroom and dandelion coffees" feature and a NY Post three-mushroom drink piece), alongside a BevNET piece on Ryze expanding latte SKUs at Target. Reddit chatter shows positive switcher testimonials in /r/mudwtr (8 upvotes on the 3-cups-to-MUD\WTR thread) plus a 17-upvote Ryze withdrawal complaint in /r/diabetes_t1 and a 29-upvote category-skeptic thread in /r/Target. Google Trends has MUD\WTR brand interest averaging ~30 over May 12–24 vs. Ryze at ~40 and Everyday Dose at ~50 over the same window.
Slate · MUD\WTR + Category
I Tried Out Those Weird Mushroom and Dandelion "Coffees" That Are All Over Social Media. What a Trip.
First-person feature in Slate covering the mushroom/dandelion coffee category. MUD\WTR named in the lede. Mainstream cultural coverage signals the category is past wellness-blog stage.
Distribution: RYZE Adds More Mushroom Lattes To Target
Ryze deepening its Target presence with additional latte SKUs after the initial national launch earlier in the year. Continued retail momentum from the closest direct competitor.
Jittery from your morning coffee? New data says it's in your DNA
Mainstream coverage of caffeine sensitivity that name-drops Everyday Dose as a low-caffeine alternative. Direct alignment with MUD\WTR's "calm seeker / switcher" persona angle.
"Switched from 3 cups of coffee to MUD\WTR for a week… honestly surprised"
Positive switcher testimonial from a self-identified anxiety-driven coffee quitter. Confirms the "coffee crash & anxiety" angle the top-spending creatives are leaning into.
"Honestly I think MUD\WTR gets misunderstood sometimes"
Organic defense of the brand framing benefit as "no coffee crash + sustainable focus" rather than a nootropic miracle. Mirrors current top-of-funnel messaging on the Founder vs MushroomCoffee creative.
"Type 1 diabetic having Ryze mushroom coffee withdrawal"
17 upvotes / 15 comments on a Ryze withdrawal/customer-service complaint thread. Negative sentiment for the closest competitor — useful evidence for the comparison creatives.
"Is there any point in drinking these mushroom coffees?"
29 upvotes / 48 comments. Category-skeptic thread on Target's subreddit calling out Ryze and Everyday Dose specifically. Useful temperature read on shelf-shopper skepticism.
Active question thread about Everyday Dose for anxiety management. Direct overlap with MUD\WTR's "calm seeker" persona — consumers are actively comparing the two on this benefit.