Pulmatrix, Inc. (PULM) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Mar-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues [+]	5.2	12.6	7.9	0.2	0.3	0.8	1.2	0.0
Royalties								2.2
Revenue growth	-59.1%	59.7%	5069.9%	-54.3%	-59.9%	-30.5%	241.2%
Cost of goods sold	0.0	0.0	0.0	0.0	0.0	-30.7	0.0	0.0
Gross profit	5.2	12.6	7.9	0.2	0.3	31.6	1.2	0.0
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	3780.2%	100.0%
Selling, general and administrative [+]	6.4	6.9	8.5	7.5	7.6	8.0	17.0	4.5
General and administrative	6.4	6.9	8.5	7.5	7.6	8.0	17.0
Research and development	15.4	15.6	12.8	13.0	10.2	10.2	7.2	2.2
Other operating expenses						25.7
EBITDA [+]	-16.4	-9.6	-13.2	-20.1	-17.2	-12.1	-22.8	-6.7
EBITDA growth	70.2%	-27.1%	-34.1%	16.7%	42.9%	-47.1%	160.9%	115.2%
EBITDA margin	-317.7%	-76.4%	-167.4%	-13137.3%	-5143.0%	-1443.5%	-1897.3%
Depreciation and amortization	0.2	0.2	0.2	0.2	0.2	0.3	0.2	0.0
EBIT [+]	-16.6	-9.9	-13.4	-20.3	-17.5	-12.3	-23.0	-6.7
EBIT growth	68.2%	-26.5%	-34.0%	16.3%	42.0%	-46.6%	153.6%	115.1%
EBIT margin	-321.0%	-78.1%	-169.7%	-13288.2%	-5216.4%	-1473.4%	-1916.6%
Non-recurring items [+]	3.6		7.3	0.1		12.6
Asset impairment	3.6		7.3	0.1		12.6
Interest expense, net [+]	0.0	-0.1	-0.3	0.2	0.6	0.9	1.0	0.0
Interest expense				0.2	0.6	0.9	1.0
Interest income	0.0	0.1	0.3	0.0				0.0
Other income (expense), net [+]	0.0	-9.5	-0.2	0.0	0.1	-5.1	-2.2
Gain (loss) on derivative instruments				0.0	0.0	0.0	-2.3
Change in fair value of warrants							1.3
Other non-ooperating expenses	0.0	-0.2
Other	0.0	-0.2	0.0	0.0	0.0	0.0	0.0
Pre-tax income	-20.2	-19.3	-20.6	-20.6	-18.1	-30.8	-26.2	-6.7
Income taxes	0.0	0.0	0.0	0.0	0.0	-3.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	9.6%	0.0%	0.0%
Net income	-23.4	-19.3	-20.6	-20.6	-18.1	-27.8	-26.2	-6.7
Net margin	-452.1%	-152.8%	-260.4%	-13439.9%	-5389.9%	-3334.5%	-2178.8%

Basic EPS [+]	($8.63)	($13.43)	($1.23)	($4.98)	($9.32)	($1.88)	($3.23)	($1.39)
Growth	-35.8%	991.2%	-75.3%	-46.5%	396.0%	-41.9%	-90.6%	-9.4%
Diluted EPS [+]	($8.63)	($13.43)	($1.23)	($4.98)	($9.32)	($1.88)	($3.23)	($1.39)
Growth	-35.8%	991.2%	-75.3%	-46.5%	396.0%	-41.9%	-90.6%	-9.4%

Shares outstanding (basic) [+]	2.7	1.4	16.7	4.1	1.9	14.8	8.1	4.8
Growth	88.4%	-91.4%	305.5%	113.0%	-86.9%	83.1%	4227.2%	136.9%
Shares outstanding (diluted) [+]	2.7	1.4	16.7	4.1	1.9	14.8	8.1	4.8
Growth	88.4%	-91.4%	305.5%	113.0%	-86.9%	83.1%	4227.2%	136.9%

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