> ## 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.

# Subscription CM2 %: Subscription Variable Margin Rate

> Track subscription CM2 percentage for your Shopify store. Measure variable margin rate on subscription orders.

<Tip>
  Subscription CM2 % measures the variable margin rate on subscription orders—what percentage of subscription revenue remains after COGS and fulfillment.
</Tip>

## Formula

<Info>
  **Subscription CM2 %** = **Subscription CM2** ÷ **Subscription Revenue** × 100
</Info>

### Formula Components

| Metric                                                                                 | Definition                               |
| -------------------------------------------------------------------------------------- | ---------------------------------------- |
| [**Subscription CM2**](/reference/metrics/orders/contribution-margin/subscription-cm2) | Variable margin from subscription orders |
| [**Subscription Revenue**](/reference/metrics/orders/revenue/subscription-revenue)     | Revenue from subscription orders         |

| Metadata        |                                                                                      |
| --------------- | ------------------------------------------------------------------------------------ |
| **Type**        | Percentage                                                                           |
| **Data Source** | [Shopify](/sources/catalog/shopify), [Upstack Costs](/sources/catalog/upstack-costs) |
| **Aggregation** | Ratio                                                                                |

***

## Example

Your Shopify store has **\$8,100** subscription CM2 on **\$18,000** subscription revenue.

| Component              | Value    | Calculation        |
| ---------------------- | -------- | ------------------ |
| Subscription CM2       | \$8,100  | Variable margin    |
| Subscription Revenue   | \$18,000 | Revenue            |
| **Subscription CM2 %** | **45%**  | \$8,100 ÷ \$18,000 |

***

## How It Works

Subscription CM2 % shows the variable margin rate after product and fulfillment costs. This is the most practical margin rate for subscription program analysis.

***

## When to Use

| Scenario                 | Action                                       |
| ------------------------ | -------------------------------------------- |
| Margin comparison        | Compare subscription vs one-time CM2 %       |
| Pricing decisions        | Ensure subscription pricing sustains margins |
| Fulfillment optimization | Track impact of shipping changes             |
| Marketing allocation     | CM2 % indicates marketing headroom           |

***

## Related Metrics

| Metric                                                                                       | Relationship                 |
| -------------------------------------------------------------------------------------------- | ---------------------------- |
| [CM2 %](/reference/metrics/orders/contribution-margin/cm2-percent)                           | Overall variable margin rate |
| [Subscription CM2](/reference/metrics/orders/contribution-margin/subscription-cm2)           | Absolute margin              |
| [Subscription CM1 %](/reference/metrics/orders/contribution-margin/subscription-cm1-percent) | Before fulfillment           |

[See all Contribution Margin metrics →](/reference/metrics/orders/contribution-margin)