Rockley Photonics Holdings Ltd [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	8-K	S-1
Revenues:
Customer A	3.0	6.7
Customer B		0.3
Rest of World		1.4		6.7
United States	3.2	6.8		13.8
Total revenues	3.2	8.2	22.3	20.5
Revenue growth [+]	-60.5%	-63.2%	9.0%
Customer A	-56.1%
United States	-52.1%
Cost of goods sold	8.5	11.4	24.2	30.7
Gross profit	-5.2	-3.2	-1.9	-10.2
Gross margin	-160.5%	-39.0%	-8.5%	-49.8%
Selling, general and administrative	61.5	40.0	20.3	13.3
Research and development	103.1	72.6	35.9	22.3
Equity in earnings	0.5	0.7		1.3
Other operating expenses	73.4	59.9		3.0
EBITDA [+]	-236.3	-170.3	-55.3	-45.6
EBITDA growth	38.7%	208.2%	21.3%
EBITDA margin	-7274.8%	-2073.8%	-247.4%	-222.3%
Depreciation and amortization	6.4	4.6	2.8	1.9
EBIT [+]	-242.7	-175.0	-58.1	-47.5
EBIT growth	38.7%	201.4%	22.2%
EBIT margin	-7471.6%	-2130.3%	-259.8%	-231.8%
Non-recurring items [+]	-73.4	-59.9		-3.0
Unusual expense	-73.4	-59.9		-3.0
Interest expense	14.7	4.8		0.7
Interest expense	14.7	4.8		0.7
Other income (expense), net [+]	-36.5	-47.5	-21.7	-5.3
Gain (loss) on foreign currency transactions	-5.9	0.1		0.3
Change in fair value of warrants	44.1	10.8
Other	-0.3
Pre-tax income	-220.5	-167.3	-79.7	-50.5
Income taxes	3.5	0.7	0.6	0.3
Net income	-224.0	-168.0	0.0	-50.9
Net margin	-6897.8%	-2045.7%	0.0%	-248.1%

Basic EPS [+]	($1.72)	($1.66)		($1.62)
Growth	3.2%
Diluted EPS [+]	($1.72)	($1.66)		($1.62)
Growth	3.2%

Shares outstanding (basic) [+]	130.3	100.9		31.4
Growth	29.2%
Shares outstanding (diluted) [+]	130.3	100.9		31.4
Growth	29.2%

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