In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 |
| 10-K | 10-K | 10-K |
Total revenues | 440.5 | 318.7 | 94.1 |
Revenue growth | 38.2% | 238.7% | |
Cost of goods sold | 285.8 | 209.0 | 62.7 |
Gross profit | 154.7 | 109.7 | 31.3 |
Gross margin | 35.1% | 34.4% | 33.3% |
Selling, general and administrative [+] | 108.2 | 79.7 | 35.7 |
Sales and marketing | 4.8 | 4.8 | 0.7 |
General and administrative | 103.4 | 74.9 | 34.9 |
Research and development | 5.4 | 3.3 | 1.2 |
Equity in earnings | 0.0 | 0.1 | |
Other operating expenses | 2.9 | | |
EBITDA [+] | 35.0 | 23.5 | -7.7 |
EBITDA growth | 49.1% | -405.7% | |
EBITDA margin | 8.0% | 7.4% | -8.2% |
Depreciation | 4.1 | 2.3 | 1.9 |
EBITA | 30.9 | 21.2 | -9.6 |
EBITA margin | 7.0% | 6.6% | -10.2% |
Amortization of intangibles | 3.2 | 1.8 | 1.5 |
EBIT [+] | 27.7 | 19.3 | -11.0 |
EBIT growth | 43.3% | -275.6% | |
EBIT margin | 6.3% | 6.1% | -11.7% |
Non-recurring items [+] | 5.9 | 3.9 | 3.7 |
Asset impairment | -2.9 | | |
Legal settlement | 8.8 | 3.9 | 3.7 |
Interest expense, net [+] | -0.8 | 0.8 | 0.2 |
Interest expense | 0.1 | 0.8 | 0.2 |
Interest income | 0.8 | | |
Other income (expense), net [+] | 0.3 | 5.1 | 0.3 |
Gain (loss) on sale of assets | 0.0 | 0.0 | 0.0 |
Gain (loss) on debt retirement | 1.4 | 0.1 | |
Unrealized gain/loss on derivatives | 1.1 | 5.2 | |
Change in fair value of warrants | 1.1 | 5.2 | |
Other | 1.0 | 0.0 | 0.3 |
Pre-tax income | 22.8 | 19.8 | -14.6 |
Income taxes | -8.0 | 0.6 | -0.2 |
Tax rate | | 3.1% | 1.1% |
Minority interest | -3.8 | -4.6 | -0.4 |
Net income | 34.6 | 23.7 | -14.4 |
Net margin | 7.9% | 7.4% | -15.3% |
|
Basic EPS [+] | $0.34 | $0.30 | ($0.25) |
Growth | 15.5% | -220.2% | |
Diluted EPS [+] | $0.34 | $0.25 | ($0.25) |
Growth | 34.2% | -201.7% | |
|
Shares outstanding (basic) [+] | 101.2 | 80.3 | 58.4 |
Growth | 26.1% | 37.6% | |
Shares outstanding (diluted) [+] | 103.0 | 94.9 | 58.4 |
Growth | 8.6% | 62.5% | |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |