| Stage | COIN | % of rev | CRCL | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.2B | 100.00% | $865M | 100.00% | COIN ×1.41 |
| Gross profit | $1.2B | 100.00% | $738M | 85.36% | COIN +14.6pp |
| Operating income | $62M | 5.07% | $208M | 24.09% | CRCL +19.0pp |
| Pre-tax income | $824M | 67.78% | $228M | 26.39% | COIN +41.4pp |
| Net income | $719M | 59.12% | $226M | 26.13% | COIN +33.0pp |
| Stage | COIN | CRCL | Gap · A − B |
|---|---|---|---|
| Revenue | $1.2B100.00% | $865M100.00% | COIN ×1.41 |
| Gross profit | 100.00%$1.2B | 85.36%$738M | COIN +14.6pp |
| Operating income | 5.07%$62M | 24.09%$208M | CRCL +19.0pp |
| Pre-tax income | 67.78%$824M | 26.39%$228M | COIN +41.4pp |
| Net income |
| 59.12%$719M |
| 26.13%$226M |
| COIN +33.0pp |
No shared counterparties.