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  "documentTitle": "Starboard Value Wix Presentation October 2022",
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  "notes": "The slide uses a bridge diagram to compare a baseline FY2023 margin against three potential FY2026 scenarios based on varying incremental margin assumptions.",
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      "text": "Peers averaged incremental margins of 50.3% from CY17 to CY21",
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      "text": "Source: Public company filings. (1) FY2026 Pro Forma Adj. Operating Margins assume $50 billion of FY2026 revenue.",
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