VONAGE HOLDINGS CORP (VG) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
Revenues	1,409.0	1,247.9	1,189.3	1,048.8	1,002.3	955.6	895.1	868.9
Revenue growth	12.9%	4.9%	13.4%	4.6%	4.9%	6.8%	3.0%	4.8%
Cost of goods sold	0.0	0.0	0.0	0.0	405.0	355.2	296.0	267.9
Gross profit	1,409.0	1,247.9	1,189.3	1,048.8	597.3	600.5	599.1	601.0
Gross margin	100.0%	100.0%	100.0%	100.0%	59.6%	62.8%	66.9%	69.2%
Sales and marketing	335.2	342.1	363.1	311.4	313.3	331.0	347.9	373.7
Research and development	80.7	81.5	69.5	52.1	29.6	29.8	27.2	20.9
General and administrative	202.5	182.1	152.7	135.3	122.5	123.3	109.2	98.8
EBITA	50.6	54.4	65.2	91.4	97.4	78.8	115.0	75.0
EBITA margin	3.6%	4.4%	5.5%	8.7%	9.7%	8.2%	12.8%	8.6%
Amortization of intangibles	43.2	54.5	58.4	39.5	38.1	34.6	26.4	16.9
EBIT	7.4	-0.1	6.8	51.9	59.4	44.2	88.6	58.1
EBIT margin	0.5%	0.0%	0.6%	4.9%	5.9%	4.6%	9.9%	6.7%
Pre-tax income	-20.1	-32.0	-26.1	36.5	45.8	30.8	43.5	51.5
Income taxes	4.4	4.2	-6.6	0.8	79.7	17.7	18.4	21.8
Tax rate			25.4%	2.2%	174.1%	57.4%	42.4%	42.3%
Earnings from continuing ops	-24.5	-36.2	-19.5	35.7	-33.9	13.2	50.1	59.4
Earnings from discontinued ops							-2.4	-10.3
Net income	-24.5	-36.2	-19.5	35.7	-33.9	13.2	47.6	49.2
Net margin	-1.7%	-2.9%	-1.6%	3.4%	-3.4%	1.4%	5.3%	5.7%

Diluted EPS	($0.10)	($0.15)	($0.08)	$0.14	($0.15)	$0.06	$0.22	$0.27
Shares outstanding (diluted)	251.5	246.1	242.0	248.9	225.3	231.9	224.1	219.4

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