Winc, Inc. (WBEV) [Rocket]

In millions, except per share items	Dec-31-21	Dec-05-21	Dec-31-20	Dec-05-20	Dec-31-19
	10-K	8-K	10-K	8-K	S-1/A
Net revenues	72.1	72.1	64.7	64.7	36.4
Net revenues growth	11.4%	11.4%	77.5%
Cost of revenues	41.9	41.9	38.4	38.4	21.0
Gross profit	30.1	30.1	26.4	26.4	15.4
Gross margin	41.8%	41.8%	40.7%	40.7%	42.3%

Operating expenses:
Marketing	17.5	17.5	17.4	17.4	8.6
Personnel	15.5	15.5	7.6	7.6	6.3
General and administrative	13.2	13.2	7.5	7.5	7.3
Production and operation	89.2	135.8	71.3	103.9
Total operating expenses	46.9	46.9	32.8	32.8	22.2
Loss from operations	-16.8	-16.8	-6.4	-6.4	-7.1
Operating margin	-23.3%	-23.3%	-9.9%	-9.9%	-19.5%

Other income (expense)
Interest expense	-0.7		-0.8
Change in fair value of warrant liabilities	0.4		-0.2
Other income, net	1.1		0.5
Total other income	2.2	2.2	0.0	-0.5
Loss before provision for income taxes	-14.6		-6.9
Income tax expense	0.1	0.1	0.0	0.0	0.0
Net loss	-14.6	-14.6	-7.0	-7.0	-8.0

Net loss per common share:
Basic	($4.42)	($4.42)	($7.80)	($7.80)
Diluted	($4.42)	($4.42)	($7.80)	($7.80)

Weighted-average common shares outstanding:
Basic	3.3	3.3	0.9	0.9