Total monthly active users with a registered account (“logged in”) divided by the total unique visitors (inclusive of both “logged-in” and “logged-out”) during the same 28-day window [1]
[1] Nine Business Models and the Metrics Investors Want (SUS 2019): KPI, Early Stage, Business Models | Y Combinator. Retrieved May 21, 2021, from https://www.ycombinator.com/library/8E-nine-business-models-and-the-metrics-investors-want-sus-2019
[2] Retrieved May 21, 2021, from https://www.salesforce.com/resources/articles/how-calculate-customer-churn-and-revenue-churn/