Valeritas Holdings Inc. (VLRX) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	May-09-14
	10-K	10-K	10-K	10-K	10-K	10-K
Revenues [+]	26.4	20.2	19.6	18.1	0.0	0.0
Products					0.0	0.0
Revenue growth	30.4%	3.6%	8.0%	493544.3%
Cost of goods sold	14.0	12.1	12.6	14.2	0.0	0.0
Gross profit	12.4	8.2	6.9	3.9	0.0	0.0
Gross margin	47.1%	40.3%	35.5%	21.3%	52.2%	52.2%
Selling, general and administrative	47.1	42.6	33.5	44.7	0.1	0.1
Research and development	7.4	7.1	4.8	6.5
Other operating expenses						0.0
EBITDA [+]	-40.8	-39.7	-29.3	-45.7
EBITDA growth	2.8%	35.3%	-35.8%	75082.8%
EBITDA margin	-154.7%	-196.1%	-150.1%	-252.3%	-1656.7%	-1656.7%
Depreciation and amortization	1.3	1.9	2.0	1.7
EBIT [+]	-42.1	-41.6	-31.4	-47.3	-0.1	-0.1
EBIT growth	1.3%	32.4%	-33.7%	77848.8%
EBIT margin	-159.4%	-205.3%	-160.5%	-261.6%	-1656.7%	-1656.7%
Non-recurring items [+]		3.7	2.4
Asset impairment		3.7
Interest expense	3.8	4.3	12.2	16.3	0.0	0.0
Interest expense	3.8	4.3	12.2	16.3	0.0	0.0
Other income (expense), net [+]	0.0	0.2	-0.4	-3.5
Gain (loss) on derivative instruments		0.2	-0.5	0.4
Other non-operating income			0.1
Other	0.0	0.0	0.1	-19.9
Pre-tax income	-45.9	-49.3	-46.4	-67.2	-0.1	-0.1
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-48.1	-51.0	-46.4	-67.2	-0.1	-0.1
Net margin	-182.3%	-252.0%	-237.2%	-371.3%	-1753.3%	-1753.3%

Basic EPS [+]	($1.71)	($8.94)	($39.06)	($278.75)	($0.01)
Growth	-80.9%	-77.1%	-86.0%	4336793.2%
Diluted EPS [+]	($1.71)	($8.94)	($39.06)	($278.75)	($0.01)
Growth	-80.9%	-77.1%	-86.0%	4336793.2%

Shares outstanding (basic) [+]	28.1	5.7	1.2	0.2	10.0
Growth	392.8%	380.9%	392.5%	-97.6%
Shares outstanding (diluted) [+]	28.1	5.7	1.2	0.2	10.0
Growth	392.8%	380.9%	392.5%	-97.6%

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