| Stage | CARS | % of rev | PHR | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $180M | 100.00% | $129M | 100.00% | CARS ×1.39 |
| Gross profit | $180M | 100.00% | $110M | 85.11% | CARS +14.9pp |
| Operating income | $28M | 15.49% | $8M | 5.88% | CARS +9.6pp |
| Pre-tax income | $20M | 10.85% | $3M | 2.50% | CARS +8.3pp |
| Net income | $14M | 7.93% | $2M | 1.48% | CARS +6.4pp |
| Stage | CARS | PHR | Gap · A − B |
|---|---|---|---|
| Revenue | $180M100.00% | $129M100.00% | CARS ×1.39 |
| Gross profit | 100.00%$180M | 85.11%$110M | CARS +14.9pp |
| Operating income | 15.49%$28M | 5.88%$8M | CARS +9.6pp |
| Pre-tax income | 10.85%$20M | 2.50%$3M | CARS +8.3pp |
| Net income |
| 7.93%$14M |
| 1.48%$2M |
| CARS +6.4pp |
None
No disclosed counterparties: CARS.