| Stage | FWONA | % of rev | GWRE | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $934M | 100.00% | $411M | 100.00% | FWONA ×2.27 |
| Gross profit | $329M | 35.22% | $270M | 65.60% | GWRE +30.4pp |
| Operating income | $88M | 9.42% | $62M | 15.16% | GWRE +5.7pp |
| Pre-tax income | $33M | 3.53% | $45M | 11.02% | GWRE +7.5pp |
| Net income | $8M | 0.86% | $31M | 7.64% | GWRE +6.8pp |
| Stage | FWONA | GWRE | Gap · A − B |
|---|---|---|---|
| Revenue | $934M100.00% | $411M100.00% | FWONA ×2.27 |
| Gross profit | 35.22%$329M | 65.60%$270M | GWRE +30.4pp |
| Operating income | 9.42%$88M | 15.16%$62M | GWRE +5.7pp |
| Pre-tax income | 3.53%$33M | 11.02%$45M | GWRE +7.5pp |
| Net income |
| 0.86%$8M |
| 7.64%$31M |
| GWRE +6.8pp |
None
No disclosed counterparties: FWONA.