| Stage | CDNL | % of rev | ARHS | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $227M | 100.00% | $368M | 100.00% | ARHS ×1.62 |
| Gross profit | $36M | 15.88% | $144M | 39.23% | ARHS +23.3pp |
| Operating income | $15M | 6.82% | $10M | 2.74% | CDNL +4.1pp |
| Pre-tax income | $10M | 4.47% | $12M | 3.18% | CDNL +1.3pp |
| Net income | $11M | 4.91% | $8M | 2.12% | CDNL +2.8pp |
| Stage | CDNL | ARHS | Gap · A − B |
|---|---|---|---|
| Revenue | $227M100.00% | $368M100.00% | ARHS ×1.62 |
| Gross profit | 15.88%$36M | 39.23%$144M | ARHS +23.3pp |
| Operating income | 6.82%$15M | 2.74%$10M | CDNL +4.1pp |
| Pre-tax income | 4.47%$10M | 3.18%$12M | CDNL +1.3pp |
| Net income |
| 4.91%$11M |
| 2.12%$8M |
| CDNL +2.8pp |
No disclosed counterparties: CDNL, ARHS.