| Stage | PBI | % of rev | HRMY | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $456M | 100.00% | $261M | 100.00% | PBI ×1.75 |
| Gross profit | $259M | 56.79% | $198M | 75.81% | HRMY +19.0pp |
| Operating income | $108M | 23.64% | $89M | 34.18% | HRMY +10.5pp |
| Pre-tax income | $70M | 15.36% | $93M | 35.70% | HRMY +20.3pp |
| Net income | $53M | 11.54% | $75M | 28.87% | HRMY +17.3pp |
| Stage | PBI | HRMY | Gap · A − B |
|---|---|---|---|
| Revenue | $456M100.00% | $261M100.00% | PBI ×1.75 |
| Gross profit | 56.79%$259M | 75.81%$198M | HRMY +19.0pp |
| Operating income | 23.64%$108M | 34.18%$89M | HRMY +10.5pp |
| Pre-tax income | 15.36%$70M | 35.70%$93M | HRMY +20.3pp |
| Net income |
| 11.54%$53M |
| 28.87%$75M |
| HRMY +17.3pp |
None
No disclosed counterparties: PBI.