Tarsus Pharmaceuticals, Inc. [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	8-K	10-K	10-K	10-K	S-1/A
Revenues:
License fees	23.9
Research and development	42.6
Total revenues [+]	25.8	57.0	0.0	0.0	0.9
Licensing	23.9
Royalties	42.6				0.9
Revenue growth	-54.7%			-100.0%
Cost of goods sold	88.5	0.0	0.0	0.0	1.4
Gross profit	-62.7	57.0	0.0	0.0	-0.4
Gross margin	-242.9%	100.0%			-49.8%
Selling, general and administrative [+]	44.9	25.4	8.2	1.1	0.4
General and administrative	44.9	25.4	8.2	1.1	0.4
Research and development		41.7	18.8	3.2
Other operating expenses	-44.2	2.1			0.9
EBITDA [+]		-11.8	-26.9	-4.3	-1.8
EBITDA growth	435.9%	-56.0%	531.4%	137.0%
EBITDA margin	-245.9%	-20.8%			-199.6%
Depreciation and amortization		0.3	0.1	0.0	0.0
EBIT [+]	-63.5	-12.2	-27.0	-4.3	-1.8
EBIT growth	422.2%	-55.0%	528.2%	138.9%
EBIT margin	-245.9%	-21.3%			-199.7%
Interest income, net [+]	1.3	0.0	0.2	0.0	0.0
Interest expense	2.2			0.0
Interest income	3.5	0.0	0.2		0.0
Other income (expense), net [+]	0.1	-1.7		-0.3	1.8
Gain (loss) on debt retirement				-0.3
Other	0.1	-0.1
Pre-tax income	-62.1	-13.8	-26.8	-4.7	0.0
Income taxes	0.0	0.1	0.0	0.0	0.0
Tax rate	0.0%			0.0%
Net income	-62.1	-13.8	-26.8	-4.7	0.0
Net margin	-240.5%	-24.2%			0.0%

Basic EPS [+]	($2.52)	($0.67)	($4.32)	($1.98)	$0.00
Growth	274.9%	-84.4%	118.5%
Diluted EPS [+]	($2.52)	($0.67)	($4.32)	($1.98)	$0.00
Growth	274.9%	-84.4%	118.5%

Shares outstanding (basic) [+]	24.6	20.6	6.2	2.4	1,759.5
Growth	19.8%	231.1%	162.7%	-99.9%
Shares outstanding (diluted) [+]	24.6	20.6	6.2	2.4	1,759.5
Growth	19.8%	231.1%	162.7%	-99.9%

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