> ## Documentation Index
> Fetch the complete documentation index at: https://docs.upstackdata.com/llms.txt
> Use this file to discover all available pages before exploring further.

# New Customer Net Revenue: First-Order Revenue After Deductions

> Track net revenue from first-time buyers after discounts and refunds. The clearest measure of first-order monetization for acquisition profitability analysis.

<Tip>
  Net revenue from new customers after discounts and refunds—the clearest measure of first-order monetization.
</Tip>

## Formula

<Info>
  **New Customer Net Revenue** = [**New Customer Gross Revenue**](/reference/metrics/orders/revenue/new-customer-gross-revenue) − **New Customer Discounts** − **New Customer Refunds**
</Info>

### Formula Components

| Metric                                                                                         | Definition                                           |
| ---------------------------------------------------------------------------------------------- | ---------------------------------------------------- |
| [**New Customer Gross Revenue**](/reference/metrics/orders/revenue/new-customer-gross-revenue) | Product revenue from new customers before deductions |
| [**New Customer Discounts**](/reference/metrics/orders/adjustments/new-customer-discounts)     | Discount amount applied to new customer orders       |
| [**New Customer Refunds**](/reference/metrics/orders/adjustments/new-customer-refunds)         | Refund amount issued on new customer orders          |

| Metadata        |                             |
| --------------- | --------------------------- |
| **Type**        | Currency                    |
| **Data Source** | [Shopify](/sources/shopify) |
| **Aggregation** | Sum                         |

***

## Example

Your store generated **\$38,640** in new customer net revenue this month:

| Component          | Amount       | Impact              |
| ------------------ | ------------ | ------------------- |
| NC Gross Revenue   | \$47,200     | Starting point      |
| NC Discounts       | −\$6,120     | 13.0% discount rate |
| NC Refunds         | −\$2,440     | 5.2% refund rate    |
| **NC Net Revenue** | **\$38,640** | Actual retained     |

***

## How It Works

New Customer Net Revenue starts with gross product sales from first-time buyers, then subtracts discounts applied at checkout and any refunds issued post-purchase. This gives you the actual revenue retained from acquisition efforts—critical for calculating true customer acquisition cost payback.

***

## When to Use

| Scenario                     | Action                                                |
| ---------------------------- | ----------------------------------------------------- |
| Acquisition profitability    | Compare NC Net Revenue to ad spend for true ROI       |
| Discount strategy evaluation | Monitor if acquisition discounts are sustainable      |
| Refund impact analysis       | Track refund rates on first-time orders               |
| LTV baseline                 | Use as the true first-order value for LTV projections |

***

## Related Metrics

| Metric                                                                                             | Relationship                 |
| -------------------------------------------------------------------------------------------------- | ---------------------------- |
| [New Customer Gross Revenue](/reference/metrics/orders/revenue/new-customer-gross-revenue)         | Before discounts and refunds |
| [New Customer Total Revenue](/reference/metrics/orders/revenue/new-customer-total-revenue)         | Includes shipping and taxes  |
| [Net Revenue](/reference/metrics/orders/revenue/net-revenue)                                       | All customers combined       |
| [Returning Customer Net Revenue](/reference/metrics/orders/revenue/returning-customer-net-revenue) | Repeat buyer comparison      |

[See all Revenue metrics →](/reference/metrics/orders/revenue)