SmileDirectClub Investor Presentation Deck
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Q3 2022 results.
Revenue for the quarter was $106.8 million, which
is down (22.5%) year-over-year and down (15.1%)
over Q2 2022, due to continued macroeconomic
headwinds impacting our customers.
Gross margin for the quarter was 70.0%, which
represents a (134 bps) decline year-over-year, and
a (288 bps) decline compared to Q2 2022.
●
Q3 Adjusted EBITDA(¹) was $(29.7mm) for the
quarter, a $24.3mm year-over-year improvement
compared to Q2 2022, despite a ($30.9mm)
decrease in revenue driven primarily for
recognizing savings for a full quarter from cost
actions taken in January.
Net loss for the quarter was ($69.7mm).
Q3 Free Cash Flow improved $0.7 million
compared to Q2 2022 and improved $28.8
million compared to Q3 2021
smile
DIRECT
Normalizing for a one-time inventory
impairment of $1.1 million in the quarter
yields a 71% gross margin for Q3 2022
CLUB
Net Revenue
Gross Profit
Gross Margin %
Adjusted EBITDA(¹)
EPS, Diluted
Free Cash Flow(¹)
$138
$98
Q3 2022
$106.8mm
Q3 2021
Revenue
(15.1%)
(18.5%)
(288 bps)
$ (29.7mm) $ (6.5mm)
(0.18) $ (0.01)
$
$ (34.9mm) $ 0.7mm
($54) ($64)
74.8mm
70.0%
QoQ
Sequential Revenue & Gross Profit ($ in millions)
Gross Profit
$107
$75
YOY
(22.5%)
(23.9%)
(134 bps)
$24.3mm
$ 0.05
$28.8mm
Q3 2022
($30) ($35)
■Adjusted EBITDA FCF
Q3 2022 revenue decreased $30.9 million compared to
Q3 2021 while Adjusted EBITDA improved $24.3 million
(1) Adjusted EBITDA and Free Cash Flow are non-GAAP financial measure. See appendix for definition of Adjusted EBITDA and Free Cash Flow. Prior 25
period reconciliations are available in historical SEC filings at https://investors.smiledirectclub.com/financial-filings/sec-filings.View entire presentation