ESS Tech, Inc. [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Dec-31-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21
	10-Q	8-K	8-K	10-Q	10-Q	8-K	10-Q	10-Q
Total revenues				11.2	10.6	10.6	4.0	7.9
Revenue growth				41.8%
Cost of goods sold				10.6	10.6	10.6	8.0	11.9
Gross profit				0.7	0.0	0.0	-4.0	-4.0
Gross margin				6.1%	0.0%	0.0%	-100.0%	-50.4%
Selling, general and administrative [+]				40.6	35.8	29.1	9.7	8.9
Sales and marketing				4.6	3.4	2.4		1.8
General and administrative				35.9	32.4	26.7	8.2	7.1
Research and development				29.1	19.1			11.9
Other operating expenses						10.6
EBITDA [+]				-79.0	-65.1			-28.5
EBITDA growth				177.7%
EBITDA margin				-702.8%	-616.9%	-485.9%	-633.9%	-358.9%
Depreciation and amortization				0.5	0.3			0.3
EBIT [+]				-79.5	-65.5	-51.6	-25.6	-28.7
EBIT growth				176.8%
EBIT margin				-706.9%	-620.1%	-488.4%	-640.5%	-362.2%
Interest expense, net [+]				0.0	0.3	0.3		0.1
Interest expense					0.3	0.3		0.1
Interest income				0.2
Other income (expense), net [+]				54.2	-34.3	-197.4	-223.6	-219.3
Gain (loss) on derivative instruments								-212.0
Unrealized gain/loss on derivatives				24.3	9.3			-14.8
Change in fair value of warrants				22.0	7.1		-17.0	-14.8
Other				-2.5	-2.2		-2.2	0.0
Pre-tax income				-25.2	-100.1	-249.3	-249.3	-248.1
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				-25.2	-100.1	-249.3	-249.3	-245.4
Net margin				-224.4%	-947.9%	-2361.1%	-6243.2%	-3094.9%

Basic EPS [+]				($0.28)	($1.42)	($5.21)	($5.21)	($7.62)
Growth				-96.4%
Diluted EPS [+]				($0.28)	($1.42)	($5.21)	($5.21)	($7.62)
Growth				-96.4%

Shares outstanding (basic) [+]				91.7	70.3		47.8	32.2
Growth				184.8%
Shares outstanding (diluted) [+]				91.7	70.3		47.8	32.2
Growth				184.8%

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