I believe the difference is in the definition of "under management" compared to billing. If under management means the POTENTIAL consumption when a strata is fully occupied and under LPE contract, it makes sense that it will take time to reach potential. Especially so for new stratas, that will take time to build and fill. Retrofit conversions will also take time to bring all customers over.
DMC I see as much more direct and would like to see it quoted separately in the results announcements.
Dec quarter estimates, page-11
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