BM Technologies, Inc. (MFAC) [Rocket]

In millions, except per share items	Jun-30-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21
	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q
Revenues:
Interchange and card revenue		22.3	23.8	25.0	26.5	28.1	27.3	28.2
Account fees		9.0	9.6	10.0	10.4	10.5	10.6	10.9
Revenue recognized at a point in time		78.7	88.6	91.7	91.2	90.4	82.1	77.7
Servicing fees from partner bank							38.6	32.6
Total revenues		83.6	93.2	96.2	95.6	94.7	86.4	81.9
Revenue growth [+]		-11.7%	7.9%	17.5%	27.6%	42.6%	74.4%	162.4%
Interchange and card revenue		-20.5%	-12.8%	-11.2%	-3.7%	8.6%
Account fees		-14.7%	-10.1%	-7.7%	-5.6%	-6.8%
Revenue recognized at a point in time		-12.9%	7.9%	18.1%	28.9%	45.0%
Other revenue		-62.7%	-34.6%	-51.5%	-29.5%	257.3%
Cost of goods sold [+]		40.9	42.4	40.8	39.9	39.0	34.6	31.4
Labor costs		40.0	41.5	39.8	39.0	38.0	33.5	30.1
Occupancy costs		1.0	0.9	1.0	1.0	1.0	1.1	1.3
Gross profit		42.7	50.8	55.4	55.6	55.7	51.8	50.5
Gross margin		51.0%	54.5%	57.6%	58.2%	58.8%	59.9%	61.7%
Selling, general and administrative [+]		12.4	11.9	13.5	13.3	12.9	14.1	12.2
Sales and marketing		0.7	0.6	0.5	0.6	0.7	0.7	0.8
General and administrative [+]		11.7	11.3	12.9	12.7	12.2	13.4	11.4
General and administrative expenses		11.7	11.3	12.9	12.7	12.2	13.4	11.4
Professional fees		10.8	10.3	11.3	11.0	10.4	9.4	8.0
Research and development		29.2	29.4	26.7	27.8	29.3	28.7	30.3
Other operating expenses		10.1	9.9	9.1	8.4	7.8	7.4	7.7
EBITDA [+]		-8.3	0.2	6.6	6.7	6.2	2.0	0.8
EBITDA growth		-233.7%	-91.1%	757.4%	-377.8%	-168.8%	-120.0%	-106.8%
EBITDA margin		-10.0%	0.2%	6.9%	7.0%	6.6%	2.3%	0.9%
Depreciation		0.3	0.2	0.2	0.1	0.2	0.2	0.2
EBITA		-8.6	-0.1	6.5	6.5	6.1	1.8	0.6
EBITA margin		-10.3%	-0.1%	6.7%	6.8%	6.4%	2.1%	0.7%
Amortization of intangibles		0.4	0.4	0.4	0.4	0.4	0.4	0.4
EBIT [+]		-9.0	-0.4	6.1	6.2	5.7	1.5	0.2
EBIT growth		-256.4%	-128.7%	2588.1%	-295.5%	-157.0%	-113.7%	-101.9%
EBIT margin		-10.7%	-0.5%	6.3%	6.4%	6.1%	1.7%	0.3%
Non-recurring items [+]				0.4	0.4	0.1
Restructuring charges				0.0
Interest expense								0.7
Interest expense								0.7
Other income (expense), net [+]		8.1	6.2	13.6	4.9	17.2	18.0	11.9
Change in fair value of warrants		8.1	6.2	13.6	4.9	17.2	18.0	11.9
Pre-tax income		-1.2	5.4	19.3	10.6	22.8	18.8	10.8
Income taxes		-0.4	3.3	5.2	5.7	5.8	4.3	3.1
Tax rate		34.5%	61.7%	27.0%	53.5%	25.2%	22.6%
Net income		-0.8	2.1	14.1	4.9	17.0	14.6	7.7
Net margin		-0.9%	2.2%	14.7%	5.2%	18.0%	16.9%	9.4%

Basic EPS [+]		($0.07)	$0.17	$1.18	$0.42	$1.44	$1.40	$0.86
Growth		-104.5%	-87.7%	37.6%	-62.7%	-172.2%	-276.1%	-255.4%
Diluted EPS [+]		($0.06)	$0.17	$1.15	$0.41	$1.33	$1.29	$0.78
Growth		-104.8%	-87.0%	47.3%	-58.8%	-166.9%	-262.0%	-241.1%

Growth			-100.0%				-5.0%

Shares outstanding (basic) [+]		11.9	11.9	11.9	11.9	11.8	10.4	9.0
Growth		0.9%	14.6%	32.9%	58.3%	93.3%	5.3%	-34.3%
Shares outstanding (diluted) [+]		12.3	12.3	12.3	12.1	12.8	11.3	9.9
Growth		-4.0%	8.4%	24.2%	43.4%	108.5%	14.5%	-27.7%

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