Pear Therapeutics, Inc. [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	8-K	S-1
Revenues:
Research and development			28.1
Product revenue			0.1
Total revenues [+]	12.7	4.2	28.2	32.6
Royalties			28.1
Products			0.1
Revenue growth	201.7%	-85.1%	-13.3%
Cost of goods sold	8.2	5.2	1.7	1.0
Gross profit	4.5	-1.0	26.5	31.6
Gross margin	35.5%	-24.4%	93.9%	96.9%
Selling, general and administrative	79.6	67.6	56.2	27.5
Research and development	48.3	37.0		35.7
Other operating expenses			47.9
EBITDA [+]	-119.4	-103.4		-31.4
EBITDA growth	15.4%	33.2%	147.3%
EBITDA margin	-940.5%	-2458.0%	-275.0%	-96.4%
Depreciation	3.3	1.7		0.2
EBITA	-122.7	-105.1	-77.6	-31.6
EBITA margin	-966.8%	-2498.1%	-275.0%	-97.1%
Amortization of intangibles	0.6	0.6
EBIT [+]	-123.4	-105.7	-77.6	-31.6
EBIT growth	16.7%	36.1%	145.7%
EBIT margin	-971.7%	-2511.5%	-275.0%	-97.1%
Interest expense, net [+]	3.9	4.1		-1.4
Interest expense	3.9	4.1
Interest income				1.4
Other income (expense), net [+]	51.8	44.7	-19.4	20.9
Gain (loss) on debt retirement			-1.0	20.3
Change in fair value of warrants	6.4	-0.3		0.0
Change in value of contingent liability	45.3	47.0
Other			-20.4	22.3
Pre-tax income	-75.5	-65.1	-97.0	-9.3
Income taxes	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%
Net income	-75.5	-65.1	-108.1	-9.3
Net margin	-594.7%	-1548.1%	-382.8%	-28.7%

Basic EPS [+]	($0.54)	($0.57)	($1.21)	($0.63)
Growth	-5.3%	-52.6%	91.6%
Diluted EPS [+]	($0.54)	($0.57)	($1.21)	($0.63)
Growth	-5.3%	-52.6%	91.6%

Shares outstanding (basic) [+]	138.7	113.3	89.2	14.8
Growth	22.4%	27.0%	504.4%
Shares outstanding (diluted) [+]	138.7	113.3	89.2	14.8
Growth	22.4%	27.0%	504.4%

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