User lifetime value is the metric that indicates the total revenue your business has gained from a particular user.  For example, let’s say I purchased a product for the first time on 27th August 2020 worth $500 and then again purchase the product on 1st November 2020 worth $300. After this I didn’t purchase any product to date, so my lifetime value till today will be $800. Let's suppose I purchase a third item today worth $200 then my lifetime value will be $1000 after today's purchase.