CNB FINANCIAL CORP (CCNE) [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
Revenues	224.4	187.2	147.4	136.1	119.6	106.3	94.8	89.2
Revenue growth	19.9%	27.0%	8.3%	13.9%	12.5%	12.1%	6.3%	2.3%
Cost of goods sold	0.0	73.6	61.1	57.6	41.6	35.8	31.5	28.7
Gross profit	224.4	113.7	86.4	78.5	78.0	70.5	63.3	60.6
Gross margin	100.0%	60.7%	58.6%	57.7%	65.2%	66.4%	66.7%	67.9%
Selling, general and administrative
Sales and marketing	2.9	2.1	2.0	2.1	2.3	2.2	1.8	1.6
General and administrative	71.5	15.8	10.5	8.1	18.6	16.6	4.4	4.3
EBIT	136.8	95.8	73.9	68.3	57.1	52.3	28.2	30.8
EBIT margin	60.9%	51.2%	50.1%	50.1%	47.7%	49.2%	29.8%	34.5%
Pre-tax income	78.2	70.8	40.1	48.6	40.2	36.3	27.7	30.5
Income taxes	15.0	13.1	7.3	8.6	6.5	12.4	7.2	8.3
Tax rate	19.2%	18.5%	18.3%	17.6%	16.2%	34.2%	25.9%	27.2%
Net income	63.2	53.4	31.6	40.1	33.7	23.9	20.5	22.2
Net margin	28.2%	28.5%	21.4%	29.4%	28.2%	22.4%	21.7%	24.9%

Diluted EPS	$3.51	$3.18	$1.97	$2.64	$2.22	$1.58	$1.43	$1.55
Shares outstanding (diluted)	18.0	16.8	16.0	15.2	15.2	15.1	14.4	14.3

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