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Income Statement
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Op Efficiency
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Aerovate Therapeutics, Inc. (AVTE)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Mar-31-21Dec-31-20Mar-31-20Dec-31-19
   10-KS-1/A10-KS-1/AS-1/A
Revenues  0.07.90.03.1 
            Revenue growth   155.1%   
Cost of goods sold  0.015.90.06.2 
Gross profit  0.0-7.90.0-3.1 
            Gross margin   -100.0% -100.0% 
Selling, general and administrative   [+]8.00.90.90.2 
Research and development  15.0 7.9  
EBITDA   [+]-23.0 -8.9  
            EBITDA margin   -112.0% -107.0% 
Depreciation and amortization  0.0 0.0  
EBIT   [+]-23.0-8.9-8.9-3.3 
            EBIT margin   -112.0% -107.0% 
Interest expense, net   [+]-0.1 0.1  
Other income (expense), net   [+]0.08.9-0.63.3 
Pre-tax income  -23.00.0-9.60.0 
Income taxes  0.00.00.00.0 
            Tax rate    0.0%  
Net income  -23.00.0-9.60.0 
            Net margin   0.0% 0.0% 
   
Basic EPS   [+]($1.87) ($39.68)  
Diluted EPS   [+]($1.87) ($39.68)  
   
Shares outstanding (basic)   [+]12.3 0.2  
Shares outstanding (diluted)   [+]12.3 0.2  
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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