Humacyte, Inc. [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	10-K	S-1/A
Revenues	1.6	1.3	1.5
Revenue growth	23.9%	-15.3%
Cost of goods sold	0.0	0.0	0.0
Gross profit	1.6	1.3	1.5
Gross margin	100.0%	100.0%	100.0%
Selling, general and administrative [+]	22.9	21.1	12.0
General and administrative [+]	22.9	21.1	12.0
General and administrative expenses	22.9	21.1	12.0
Research and development	63.3	61.3	54.1
EBITDA [+]	-76.4	-73.0	-56.2
EBITDA growth	4.7%	29.7%
EBITDA margin	-4879.7%	-5777.3%	-3772.6%
Depreciation	6.2	6.2	6.3
EBITA	-82.5	-79.1	-62.5
EBITA margin	-5272.8%	-6266.7%	-4194.5%
Amortization of intangibles	2.1	2.1	2.1
EBIT [+]	-84.6	-81.2	-64.6
EBIT growth	4.1%	25.7%
EBIT margin	-5404.3%	-6429.8%	-4332.7%
Interest expense, net [+]	3.6	4.3	1.9
Interest expense	6.2	4.3	2.2
Interest income	2.6	0.0	0.3
Other income (expense), net [+]	76.2	59.1	0.0
Gain (loss) on debt retirement		3.3
Change in fair value of warrants	0.4	0.1
Change in value of contingent liability	75.8	55.8
Pre-tax income	-12.0	-26.5	-66.5
Income taxes	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%
Net income	-12.0	-26.5	-66.5
Net margin	-764.5%	-2096.4%	-4460.1%

Basic EPS [+]	($0.12)	($0.66)	($11.53)
Growth	-82.5%	-94.3%
Diluted EPS [+]	($0.12)	($0.66)	($11.53)
Growth	-82.5%	-94.3%

Shares outstanding (basic) [+]	103.1	40.0	5.8
Growth	157.8%	593.2%
Shares outstanding (diluted) [+]	103.1	40.0	5.8
Growth	157.8%	593.2%

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