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
Revenues:
DTC					29.6
Wholesale					6.8
Total revenues	72.1	72.1	64.7	64.7	36.4
Revenue growth	11.4%	11.4%	77.5%
Cost of goods sold	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%
Selling, general and administrative [+]	46.2	46.2	32.5	32.5	22.2
Sales and marketing	17.5	17.5	17.4	17.4	8.6
General and administrative	13.2	13.2	7.5	7.5	7.3
Other selling, general and administrative	15.5	15.5	7.6	7.6	6.3
Other operating expenses	0.7	0.7	0.3	0.3	0.3
EBITDA [+]	-16.1	-16.1	-5.9	-5.9	-6.5
EBITDA growth	172.5%	172.5%	-8.6%
EBITDA margin	-22.3%	-22.3%	-9.1%	-9.1%	-17.7%
Depreciation	0.1	0.7	0.1	0.5	0.6
EBITA	-16.2	-16.8	-6.0	-6.4	-7.1
EBITA margin	-22.5%	-23.3%	-9.3%	-9.9%	-19.5%
Amortization of intangibles	0.6		0.4
EBIT [+]	-16.8	-16.8	-6.4	-6.4	-7.1
EBIT growth	162.0%	162.0%	-9.6%
EBIT margin	-23.3%	-23.3%	-9.9%	-9.9%	-19.5%
Interest expense	0.7		0.8
Interest expense	0.7		0.8
Other income (expense), net [+]	2.9	2.2	0.3	-0.5	-0.9
Change in fair value of warrants	0.4		-0.2
Other	1.1		0.5
Pre-tax income	-14.6	-14.6	-6.9	-6.9	-8.0
Income taxes	0.1	0.1	0.0	0.0	0.0
Net income	-14.6	-14.6	-7.0	-7.0	-8.0
Net margin	-20.3%	-20.3%	-10.8%	-10.8%	-22.1%

Basic EPS [+]	($4.41)	($4.42)	($7.80)	($7.80)
Growth	-43.5%	-43.3%
Diluted EPS [+]	($4.41)	($4.42)	($7.80)	($7.80)
Growth	-43.5%	-43.3%

Shares outstanding (basic) [+]	3.3	3.3	0.9	0.9
Growth	271.2%	271.2%
Shares outstanding (diluted) [+]	3.3	3.3	0.9	0.9
Growth	271.2%	271.2%

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