System1, Inc. (TREB) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	S-1/A	S-1/A
Total revenues	0.0
Cost of goods sold	13.3
Gross profit	-13.3
EBIT	-13.3
Other income (expense), net [+]	34.4
Gain (loss) on debt retirement	3.2
Change in fair value of warrants	23.7
Other	34.4
Pre-tax income	21.0
Income taxes	0.0
Tax rate	0.0%
Net income	21.0

Basic EPS	$0.33
Diluted EPS	$0.33


Shares outstanding (basic)	64.7
Shares outstanding (diluted)	64.7

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