Rami Arieli: "The Laser Adventure" Chapter 5 Section 3, page 3

Active Medium Gain Curve with lasing and without - Hole Burning

In figure 5.8, both small signal gain and saturation gain are plotted as a function of frequency.

Figure 5.8: Active Medium Gain Curve with lasing and without - Hole Burning

Small signal gain Curve appears identical to the fluorescence line shape (figure 5.3), with one maximum at the frequency of the basic mode (n0).
The value of the saturation gain drops for each lasing mode, from the small signal gain to threshold gain (GA)th
This process is called “hole burning” in the gain curve.

Conclusion:
Each moment, most of the energy stored inside the active medium is not used to create the radiation out of the laser.