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  "documentTitle": "Leidos Holdings, Inc. (LDOS)",
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  "authorName": "Ben Axler",
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      "text": "The combined portfolio also reflects a revenue mix that is roughly 60% product, 40% service. As you can see, however, there are differences in the proportion of services and product revenues between our distinct businesses. Leidos has a highly efficient proprietary service model that drives an inverse in the revenue -- in the product revenue mix that is 40% product, 60% service. We intend to apply our model to these two new businesses in order to grow a longer tail of service revenue streams for the product lines that we're acquiring.",
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      "text": "Notice the TSA data has recently been in decline after a brief uptick",
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      "text": "TSA produces data on the number of travelers going through checkpoints. Leidos has a significant service component for its airport security business. Fewer travelers through TSA checkpoints suggests less wear and tear on its equipment, and thus lower servicing requirements. The data recently has turned bearish and has never recovered from March 2020.",
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      "text": "\"The combined portfolio also reflects a revenue mix that is roughly 60% product, 40% service. As you can see, however, there are differences in the proportion of services and product revenues between our distinct businesses. Leidos has a highly efficient proprietary service model that drives an inverse in the revenue -- in the product revenue mix that is 40% product, 60% service. We intend to apply our model to these two new businesses in order to grow a longer tail of service revenue streams for the product lines that we're acquiring.\" — L3Harris / Leidos Deal Conference Call",
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      "text": "Source: TSA website",
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