Eton Pharmaceuticals, Inc. (ETON) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	10-K	10-K	10-K	10-K	10-K
Revenues	21.3	21.8	0.0	1.0	0.0
Revenue growth	-2.7%	55879.5%	-95.9%
Cost of goods sold	6.9	2.8	0.4	0.5	0.0
Gross profit	14.3	19.0	-0.4	0.5	0.0
Gross margin	67.4%	87.1%	-1017.9%	52.8%
Selling, general and administrative [+]	18.6	14.3	12.6	7.6	4.7
General and administrative	18.6	14.3	12.6	7.6	4.7
Research and development	4.0	6.2	14.1	11.6	5.6
Other operating expenses		-0.2
EBITDA [+]	-6.5	-0.9	-26.5	-18.2	-10.3
EBITDA growth	661.3%	-96.8%	45.8%	77.0%
EBITDA margin	-30.5%	-3.9%	-67846.2%	-1893.0%
Depreciation	0.2	0.3	0.5	0.4	0.1
EBITA	-6.6	-1.1	-27.0	-18.6	-10.3
EBITA margin	-31.3%	-5.1%	-69130.8%	-1937.0%
Amortization of intangibles	1.6	0.2	0.2	0.0
EBIT [+]	-8.3	-1.3	-27.1	-18.6	-10.3
EBIT growth	528.6%	-95.2%	45.8%	80.2%
EBIT margin	-38.9%	-6.0%	-69515.4%	-1939.6%
Non-recurring items [+]		0.2
Loss (gain) on sale of assets		0.2
Interest expense, net [+]					-0.2
Interest expense	1.0	1.0	0.9	0.1
Interest income					0.2
Other income (expense), net [+]	0.2	0.6	0.0	0.4	-2.6
Gain (loss) on debt retirement		0.4
Change in fair value of warrants					-2.6
Pre-tax income	-9.0	-2.0	-28.0	-18.3	-12.7
Income taxes	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-9.0	-2.0	-28.0	-18.3	-37.2
Net margin	-42.4%	-9.0%	-71717.9%	-1910.3%

Basic EPS [+]	($0.36)	($0.08)	($1.33)	($1.03)	($5.80)
Growth	362.6%	-94.2%	29.1%	-82.2%
Diluted EPS [+]	($0.36)	($0.08)	($1.33)	($1.03)	($5.80)
Growth	362.6%	-94.2%	29.1%	-82.2%

Shares outstanding (basic) [+]	25.1	25.2	21.0	17.8	6.4
Growth	-0.2%	20.0%	18.3%	176.7%
Shares outstanding (diluted) [+]	25.1	25.2	21.0	17.8	6.4
Growth	-0.2%	20.0%	18.3%	176.7%

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