Patriot National, Inc. (PN) [Rocket]

In millions, except per share items	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	8-K	10-K	10-K	10-K
Revenues [+]	232.8	209.7	117.3	55.9
Net interest income		3.5	9.2	1.2
Net investment income	0.1	0.1	0.5	0.1
Revenue growth	11.0%	78.8%	109.7%
Cost of goods sold	94.1	77.6	32.4	16.0
Gross profit	138.8	132.1	84.8	39.9
Gross margin	59.6%	63.0%	72.4%	71.4%
Selling, general and administrative [+]	18.7	35.9	16.9	8.8
Sales and marketing		35.9	16.9	8.8
Other operating expenses	22.9	78.7	28.8	32.9
EBITDA [+]	97.1	17.5	39.1	-1.8
EBITDA growth	453.8%	-55.1%	-2300.3%
EBITDA margin	41.7%	8.4%	33.3%	-3.2%
Depreciation and amortization	18.7	14.6	5.9	2.6
EBIT [+]	78.4	3.0	33.1	-4.4
EBIT growth	2548.1%	-91.1%	-855.8%
EBIT margin	33.7%	1.4%	28.2%	-7.8%
Non-recurring items [+]	19.9	1.2
Asset impairment	17.7
Loss (gain) on sale of assets		0.0
Unusual expense	0.1	1.2
Interest expense		3.5	9.2	1.2
Interest expense		3.5	9.2	1.2
Other income (expense), net [+]	-78.0	1.4	-1.8
Amortization of financing costs and debt discount		0.4	2.2	5.6
Acquisition-related costs		6.8
Gain (loss) on investments		-0.2	14.0	-0.1
Change in fair value of warrants		-1.4	1.8
Pre-tax income	-19.5	-0.4	22.1	-5.6
Income taxes	-18.7	4.9	11.6	0.7
Tax rate	95.9%		52.7%
Minority interest		0.1	0.0	-0.1
Earnings from continuing ops	-0.8	-5.4	10.4	-6.2
Earnings from discontinued ops	0.0
Net income	-0.8	-5.4	10.4	-6.2
Net margin	-0.3%	-2.6%	8.9%	-11.1%

Basic EPS [+]	($0.03)	($0.20)	$0.66	($0.43)
Growth	-87.1%	-130.8%	-252.7%
Diluted EPS [+]	($0.03)	($0.20)	$0.66	($0.43)
Growth	-87.1%	-130.8%	-252.7%

Dividends per share [+]				$0.35
Growth			-100.0%

Shares outstanding (basic) [+]	30.2	26.4	15.8	14.3
Growth	14.4%	67.7%	10.3%
Shares outstanding (diluted) [+]	30.2	26.4	15.8	14.3
Growth	14.4%	67.7%	10.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.