CTR sounds great, cvr sounds a bit low. I usually aim for 5% regardless of industry on both - and then go up from there More on reddit.com

This is a great close rate! 20% is minimum, 25% is benchmark and anything above 30% is excellent! Think about it, if I hand you 10 deals and 3 close (considering possible deal disqualification requirements) I'm a happy sales leader! Most sales leaders also budget to generate 3.5X pipeline of their revenue goals because they expect a 25% close rate. More on reddit.com

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Profitable conversion rate is not really a thing because as you are learning, you can have a high conversion rate is still loose money. Sometimes you won't be able to make your conversion rate higher because it is already as high as it will go or in your case, it is the wrong metric to focus on right now. This means you need to actually focus on the quality of the customer coming into the business and which campaigns are leading to those customers. Having only a 10% profit margin will always make PPC a challenge for any business. That does not leave a lot of room for error. It is good you are tracking your leads. Do you know if the agency is using offline conversion tracking to understand which leads are converting into customers? Or maybe they are looking at your CRM data to figure that out. We work with a lot of B2B ecom brands and this is what we do for the leads side of their business. This allows us to them refocus our budgets on the campaign that have quality leads convert into customers. Not sure how many campaigns are being run but you do need to shift your budget to what will help you convert more leads into paying customers. You should bring this up with the agency because if they are not doing this already, they should be as it is something they should have started on month 3 or 4 at the latest. This won't level out and you do need to bring this up with the agency today. Otherwise, you will just continue to lose money if Q1 ends up being how your Q2 goes and nothing has changed. More on reddit.com