CUMBERLAND PHARMACEUTICALS INC (CPIX) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Sancuso	13.2
RediTrex		0.1	0.9
Vibativ	4.8	5.0	5.3	5.2	5.0
Grant	0.2	0.4	0.6	1.3	0.1	0.2
Other	64.5	65.6	66.5	25.9	23.7	40.2
Total revenues [+]	82.7	71.0	73.3	32.4	28.8	40.4	33.0	33.5
Products								33.0
Other								0.5
Revenue growth [+]	16.4%	-3.1%	126.1%	12.5%	-28.7%	22.3%	-1.5%	-9.2%
RediTrex		-93.5%
Vibativ	-2.9%	-6.9%	2.2%	4.4%
Grant	-50.0%	-33.3%	-53.8%	1200.0%	-50.0%
Cost of goods sold	9.1	8.8	8.7	7.4	6.0	7.4	6.0	5.0
Gross profit	73.6	62.2	64.6	25.0	22.8	33.0	27.1	28.6
Gross margin	89.0%	87.6%	88.2%	77.1%	79.1%	81.7%	82.0%	85.2%
Selling, general and administrative [+]	27.7	25.6	25.9	25.9	24.6	31.8	23.8	21.6
Sales and marketing	16.7	15.0	14.8	15.3	14.0	21.5	14.6	14.0
General and administrative	10.2	9.8	10.2	10.0	10.2	9.7	8.6	7.6
Other selling, general and administrative	0.9	0.8	0.9	0.6	0.5	0.6	0.7
Research and development	6.7	5.7	5.8	6.9	7.6	4.3	3.2	3.8
Other operating expenses	37.7	33.1	33.8	-3.4	-1.0	-1.4	1.5	2.0
EBITDA [+]	1.7	-1.9	-0.5	-4.1	-8.2	-1.4	1.0	3.4
EBITDA growth	-189.0%	306.8%	-88.4%	-50.2%	471.3%	-248.7%	-71.3%	-39.5%
EBITDA margin	2.1%	-2.7%	-0.6%	-12.6%	-28.4%	-3.6%	2.9%	10.0%
Depreciation	0.3	0.2	0.3	0.3	0.2	0.2	0.2	0.3
EBITA	1.5	-2.2	-0.8	-4.3	-8.4	-1.6	0.8	3.1
EBITA margin	1.8%	-3.0%	-1.1%	-13.4%	-29.2%	-4.1%	2.3%	9.3%
Amortization of intangibles	5.1	4.4	4.4	4.1	2.8	2.4	2.2	2.0
EBIT [+]	-3.6	-6.5	-5.2	-8.5	-11.2	-4.1	-1.4	1.1
EBIT growth	-44.6%	25.1%	-38.5%	-24.1%	173.8%	184.8%	-228.9%	-68.8%
EBIT margin	-4.4%	-9.2%	-7.1%	-26.2%	-38.8%	-10.1%	-4.3%	3.3%
Non-recurring items [+]	2.1	1.1	1.2	0.8
Unusual expense	2.1	1.1	1.2	0.8
Interest income, net [+]	-0.5	-0.1	-0.2	0.0	0.4	0.2	0.1	0.1
Interest expense	0.6	0.1	0.3	0.2	0.2	0.1	0.1	0.1
Interest income	0.1	0.0	0.1	0.2	0.6	0.3	0.2	0.2
Other income (expense), net [+]	0.6	2.2
Other non-operating gains/losses	0.6			0.0	0.2	0.1
Other	0.6	-2.2		0.0	-0.2	-0.1	-0.1	-0.1
Pre-tax income	-5.6	-5.6	-6.6	-9.3	-10.8	-3.9	-1.3	1.2
Income taxes	0.1	0.0	0.1	-0.1	0.0	4.2	-0.3	0.6
Tax rate				0.9%			24.8%	46.2%
Minority interest	-0.1	-0.1	-0.1	0.0	-0.1	-0.1	-0.1	-0.1
Earnings from continuing ops	-5.6	-11.1	-13.2	-18.4	-21.6	-8.0	-0.9	0.7
Earnings from discontinued ops		2.0	3.2	5.7	3.8
Net income	-5.6	-9.1	-10.0	-12.7	-17.8	-8.0	-0.9	0.7
Net margin	-6.7%	-12.8%	-13.6%	-39.3%	-61.7%	-19.8%	-2.9%	2.2%

Basic EPS [+]	($0.38)	($0.74)	($0.87)	($1.20)	($1.38)	($0.50)	($0.06)	$0.04
Growth	-48.6%	-14.3%	-27.4%	-13.4%	175.5%	761.8%	-233.0%	-68.2%
Diluted EPS [+]	($0.38)	($0.74)	($0.87)	($1.20)	($1.38)	($0.50)	($0.06)	$0.04
Growth	-48.6%	-14.3%	-27.4%	-13.4%	175.5%	761.8%	-236.0%	-68.4%

Shares outstanding (basic) [+]	14.6	14.9	15.2	15.4	15.6	15.9	16.2	16.7
Growth	-2.3%	-1.7%	-1.5%	-1.4%	-1.9%	-2.0%	-2.9%	-5.1%
Shares outstanding (diluted) [+]	14.6	14.9	15.2	15.4	15.6	15.9	16.2	17.1
Growth	-2.3%	-1.7%	-1.5%	-1.4%	-1.9%	-2.0%	-5.0%	-4.5%

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