FedNat Holding Co (FNHC) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-05-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	8-K	10-K	10-K	10-K
Total revenues	245.5	431.9	415.0	396.1	396.1	391.7	307.5	243.5
Revenue growth	-43.1%	4.1%	4.8%	1.1%		27.4%	26.3%	21.3%
Loss and loss adjustment expenses	232.8	376.4	273.1	228.4	228.4	247.6	197.8	112.7
Policy acquisition costs
Other underwriting costs
Other operating expenses	106.8	159.4	130.4	143.3	143.3	134.8	107.6	67.6
General and administrative	24.4	23.4	23.2	22.2	22.2	20.0	17.2	14.7
EBITDA	-90.8	-90.4	13.0	25.8		10.4	2.2	63.8
EBITDA margin	-37.0%	-20.9%	3.1%	6.5%		2.7%	0.7%	26.2%
Depreciation	1.9	1.9	1.5	1.4		1.2	0.9	0.6
EBIT	-92.7	-92.3	11.5	24.4	24.4	9.3	1.4	63.2
EBIT margin	-37.8%	-21.4%	2.8%	6.2%	6.2%	2.4%	0.4%	26.0%
Interest expense, net [+]	8.8	7.7	10.8	4.2	4.2	0.3	-0.4	0.3
Interest expense	8.8	7.7	10.8	4.2	4.2	0.3	0.3	0.3
Interest income							0.8
Pre-tax income	-102.8	-111.7	0.7	20.2	20.2	8.9	1.8	62.9
Income taxes	0.3	-33.5	-0.3	5.5	5.5	3.6	0.5	24.1
Tax rate		30.0%		27.2%	27.2%	40.2%	30.1%	38.3%
Minority interest				-0.2	-0.2	-2.6	0.2	-0.4
Net income	-103.1	-78.2	1.0	14.9	14.9	8.0	1.0	39.3
Net margin	-42.0%	-18.1%	0.2%	3.8%	3.8%	2.0%	0.3%	16.1%

Basic EPS	($6.18)	($5.64)	$0.08	$1.17	$1.17	$0.61	$0.07	$2.86
Diluted EPS	($6.18)	($5.64)	$0.08	$1.16	$1.16	$0.60	$0.07	$2.81

Shares outstanding (basic)	16.7	13.8	13.0	12.8	12.8	13.2	13.8	13.7
Shares outstanding (diluted)	16.7	13.8	13.0	12.9	12.9	13.3	13.9	14.0

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