PHOENIX MOTOR INC. [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21
	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K
Revenues	5.1	5.4	4.3	3.9	4.0	3.2	3.0
Revenue growth	26.8%	71.3%	45.4%
Cost of goods sold	4.6	4.6	3.5	3.7	4.0	3.7	3.5
Gross profit	0.5	0.9	0.8	0.2	0.0	-0.5	-0.6
Gross margin	9.6%	16.0%	18.9%	4.1%	-0.3%	-15.6%	-18.9%
Selling, general and administrative [+]	15.6	14.8	14.0	16.7	15.0	14.8	13.8
Sales and marketing	10.8	10.0		9.2	7.4	7.3
General and administrative			4.8				7.5
EBITDA [+]	-13.5	-12.4	-11.6	-14.9	-13.3	-13.6	-12.6
EBITDA growth	1.9%	-8.8%	-8.4%
EBITDA margin	-265.7%	-228.1%	-267.2%	-385.1%	-330.6%	-428.6%	-424.1%
Depreciation and amortization	1.6	1.5	1.6	1.6	1.7	1.7	1.7
EBIT [+]	-15.1	-13.9	-13.2	-16.5	-15.0	-15.3	-14.3
EBIT growth	0.9%	-9.1%	-8.1%
EBIT margin	-296.5%	-255.9%	-303.7%	-426.6%	-372.4%	-482.2%	-480.8%
Interest expense, net [+]	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest expense	0.0		0.0	0.0	0.0	0.0	0.0
Interest income		0.0
Other income (expense), net	0.7	0.8	0.5	0.1	0.4	0.3	-0.3
Pre-tax income	-14.4	-13.2	-12.7	-16.4	-14.6	-15.0	-14.6
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate		-0.1%	-0.1%	-0.1%
Net income	-14.4	-13.2	-12.7	-16.4	-14.7	-15.0	-14.6
Net margin	-282.7%	-241.9%	-293.4%	-423.5%	-364.4%	-473.4%	-490.9%

Basic EPS [+]	($0.71)	($0.67)	($0.68)	($0.90)	($0.83)	($0.86)	($0.84)
Growth	-14.8%	-21.6%	-18.7%
Diluted EPS [+]	($0.71)	($0.67)	($0.68)	($0.90)	($0.83)	($0.86)	($0.84)
Growth	-14.8%	-21.6%	-18.7%

Shares outstanding (basic) [+]	20.4	19.5	18.7	18.2	17.6	17.5	17.5
Growth	15.5%	11.6%	6.9%
Shares outstanding (diluted) [+]	20.4	19.5	18.7	18.2	17.6	17.5	17.5
Growth	15.5%	11.6%	6.9%

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