| Stage | TMS | % of rev | INNV | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $149M | 100.00% | $265M | 100.00% | INNV ×1.78 |
| Gross profit | $61M | 41.31% | $179M | 67.71% | INNV +26.4pp |
| Operating income | $3M | 2.02% | $20M | 7.61% | INNV +5.6pp |
| Pre-tax income | $10M | 6.81% | $20M | 7.57% | INNV +0.8pp |
| Net income | $10M | 6.41% | $21M | 7.89% | INNV +1.5pp |
| Stage | TMS | INNV | Gap · A − B |
|---|---|---|---|
| Revenue | $149M100.00% | $265M100.00% | INNV ×1.78 |
| Gross profit | 41.31%$61M | 67.71%$179M | INNV +26.4pp |
| Operating income | 2.02%$3M | 7.61%$20M | INNV +5.6pp |
| Pre-tax income | 6.81%$10M | 7.57%$20M | INNV +0.8pp |
| Net income | 6.41%$10M | 7.89%$21M | INNV +1.5pp |
None
No disclosed counterparties: TMS.