| Stage | TREE | % of rev | INN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $313M | 100.00% | $199M | 100.00% | TREE ×1.57 |
| Gross profit | $302M | 96.40% | $91M | 45.48% | TREE +50.9pp |
| Operating income | $22M | 6.95% | $29M | 14.51% | INN +7.6pp |
| Pre-tax income | $14M | 4.51% | $8M | 4.17% | TREE +0.3pp |
| Net income | $10M | 3.05% | $10M | 4.89% | INN +1.8pp |
| Stage | TREE | INN | Gap · A − B |
|---|---|---|---|
| Revenue | $313M100.00% | $199M100.00% | TREE ×1.57 |
| Gross profit | 96.40%$302M | 45.48%$91M | TREE +50.9pp |
| Operating income | 6.95%$22M | 14.51%$29M | INN +7.6pp |
| Pre-tax income | 4.51%$14M | 4.17%$8M | TREE +0.3pp |
| Net income |
| 3.05%$10M |
| 4.89%$10M |
| INN +1.8pp |
No shared counterparties.