ATI Physical Therapy, Inc. [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	10-K	10-K
Revenues	635.7	627.9	592.3	785.5
Revenue growth	1.2%	6.0%	-24.6%
Unit growth	1.4%
Cost of goods sold	358.0	336.5	306.5	414.5
Gross profit	277.7	291.4	285.8	371.0
Gross margin	43.7%	46.4%	48.3%	47.2%
Selling, general and administrative	114.7	111.8	104.3	119.2
Other operating expenses	216.4	197.3	182.4	192.7
EBITDA [+]	-12.9	20.3	38.8	98.1
EBITDA growth	-163.6%	-47.8%	-60.5%
EBITDA margin	-2.0%	3.2%	6.5%	12.5%
Depreciation and amortization	40.6	38.0	39.7	39.1
EBIT [+]	-53.5	-17.7	-0.9	59.0
EBIT growth	201.5%	1842.5%	-101.5%
EBIT margin	-8.4%	-2.8%	-0.2%	7.5%
Non-recurring items [+]	486.3	962.3
Asset impairment	486.3	962.3
Interest expense	45.3	46.3	69.3	77.0
Interest expense	45.3	46.3	69.3	77.0
Other income (expense), net [+]	-5.1	102.4	74.0	-60.4
Unrealized gain/loss on derivatives	-42.5	-175.1
Change in fair value of warrants	-4.2	-22.6
Other	-3.3	-0.2	91.0	-0.8
Pre-tax income	-590.1	-923.9	3.8	-78.3
Income taxes	-48.5	-71.0	2.1	-44.0
Tax rate	8.2%	7.7%	53.9%	56.2%
Minority interest	-0.7	-3.7	5.1	4.4
Net income	-540.9	-849.3	-3.3	-38.7
Net margin	-85.1%	-135.3%	-0.6%	-4.9%

Basic EPS [+]	($2.66)	($5.12)	($0.03)	($0.30)
Growth	-48.0%	19776.2%	-91.5%
Diluted EPS [+]	($2.66)	($5.12)	($0.03)	($0.30)
Growth	-48.0%	19776.2%	-91.5%

Shares outstanding (basic) [+]	203.2	165.8	128.3	128.3
Growth	22.5%	29.2%	0.0%
Shares outstanding (diluted) [+]	203.2	165.8	128.3	128.3
Growth	22.5%	29.2%	0.0%

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