In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 |
| 10-K | 10-K | 10-K | 10-K |
Net sales | 365.9 | 260.1 | 119.1 | 166.6 |
Net sales growth | 40.7% | 118.4% | -28.5% | |
Cost of sales | 115.5 | 78.3 | 51.9 | 60.1 |
Gross profit | 250.3 | 181.8 | 67.2 | 106.5 |
Gross margin | 68.4% | 69.9% | 56.4% | 63.9% |
|
Operating expenses: | | | | |
Selling and marketing | 160.1 | 111.6 | 50.3 | 61.8 |
Research and development | 8.4 | 8.2 | 3.4 | 4.6 |
General and administrative | 106.1 | 98.7 | 30.6 | 26.7 |
Total operating expenses | 274.6 | 218.5 | 84.4 | 93.1 |
Loss from operations | -24.3 | -36.6 | -17.2 | 13.5 |
Operating margin | -6.6% | -14.1% | -14.4% | 8.1% |
Interest income | -9.2 | 0.0 | | |
Other (income) expense, net | 1.7 | 4.5 | 0.0 | -0.5 |
Change in fair value of warrant liabilities | -78.3 | 277.3 | | |
Foreign currency transaction (gain) loss, net | 3.2 | 0.1 | 0.0 | -0.2 |
Income (loss) before provision for income taxes | 45.0 | -377.4 | -38.5 | -2.9 |
Income tax (benefit) expense | 0.6 | -2.2 | -9.3 | -1.3 |
Net income (loss) | 44.4 | -375.1 | -29.2 | -1.6 |
|
Comprehensive income (loss), net of tax: | | | | |
Foreign currency translation adjustments | -3.3 | -1.5 | 0.1 | 0.0 |
Comprehensive income (loss) | 41.1 | -376.6 | -29.1 | -1.6 |
|
Net income (loss) per share | | | | |
Basic (in dollars per share) | $0.30 | ($3.67) | ($0.85) | ($0.05) |
Diluted (in dollars per share) | ($0.23) | ($3.67) | ($0.85) | ($0.05) |
|
Weighted average common shares outstanding | | | | |
Basic (in shares) | 147.6 | 102.1 | 34.3 | 32.1 |
Diluted (in shares) | 148.5 | 102.1 | 34.3 | 32.1 |