SmileDirectClub Investor Presentation Deck
General & administrative.
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General and administrative expenses were $81
million in Q1, compared to $78 million in Q4
2020.
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G&A expenses were up $3 million
sequentially due to higher one-time stock-
based compensation
The stability throughout the quarter was a direct
result of the cost control initiatives we discussed
on prior earnings calls.
We plan to stay vigilant with cost control
throughout the remainder of the year and
beyond, as we focus on continuing
to leverage this line item
Adjusting for this, G&A expenses were down
$6 million on a quarter over quarter basis.
Excluding D&A, stock-based compensation,
and one-time items, G&A expenses remain
down $11 million, or 15%, versus Q1 of
2020.
smile
DIRECT CLUB
Our long-term target of 15% of revenue remains
intact.
$2
$16
G&A expenses (¹) ($ in millions)
$73
38%
Q1 2020
$11
54%
$58
($0)
Q2 2020
G&A
$0.1
$11
$63
(1) Percentages represent G&A as a percent of revenue, excluding stock-based compensation and IPO and other one-time costs..
38%
$5
$7
$66
39%
Q3 2020 Q4 2020
Stock-based Compensation
One-time Costs
G&A as a % of Net Revenue
$15
$66
33%
Q1 2021
One-time items:
Q1/Q2'20 - One time severance (COVID).
Q3 - International one-time severance (COVID).
Q4 - $4.8mm legal settlement accrual. Remainder is international severance (COVID).
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