SmileDirectClub Investor Presentation Deck
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Q1 2021 results.
Revenue for the quarter was $199.5 million, which
represents a sequential increase of 8% over Q4 2020
Above the high end of our long-term target range
Also represents a record quarter for revenue in the
history of SDC
Gross margin for the quarter was 76%, up 225 basis
points from Q4 2020, and a 640-basis point
improvement versus Q1 2020
Net loss for the quarter was ($95.6mm), which includes
a $47.6mm loss on extinguishment of debt
Q1 Adjusted EBITDA(¹) was $4.9mm for the quarter,
down $2m from Q4 due to higher selling and marketing
expenses, mostly associated with international ramp
US/Canada Adjusted EBTIDA was $11.6mm,
implying a 7% Adjusted EBITDA margin
Rest of World Adjusted EBITDA was ($6.7mm)
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Our long-term financial targets remain intact:
smile
DIRECT CLUB
Average revenue growth of 20-30% per year for
the next 5 years.
Adjusted EBITDA(1) margins of 25-30% as we scale
during that time period.
This is driven by an 85% gross margin, 40-
45% sales and marketing margin, and a 15%
G&A margin.
Net Revenue
Gross Profit
Gross Margin %
Adjusted EBITDA(1)
EPS, Diluted
$197
9%
$197
0%
Q4 2019 Q1 2020
Q1 2021
Revenue ($ in millions)
$107
-46%
Q2 2020
199.5mm
151.5mm
Revenue $
(1) Adjusted EBITDA is a non-GAAP financial measure. See appendix for definition of Adjusted EBITDA.
76%
4.9mm
(0.25)
57%
$169
Q3 2020
QOQ
$185
10%
Q4 2020
-QoQ Growth %
8%
11%
225bps
(31%)
NM
$200
8%
Q1 2021
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