SmileDirectClub Investor Presentation Deck
Balance sheet highlights.
We ended Q1 with $86.3 million in cash
and cash equivalents.
Cash from operations for the first quarter
was ($32.6) million which is an
improvement of $29mm from Q1 2022.
Cash spent on investing for the first
quarter was ($8.0) million, down $7mm
from Q1 2022
Free Cash Flow was ($40.6) million in
the quarter, an improvement of $36mm
compared to ($76.4) million in Q1 2022.
In Q1 2023, SmilePay financing, which
drives our accounts receivable, as a
percentage of total aligners purchased
was 65.5%, which is about a 280 bps
increase over Q4 2022.
Overall, SmilePay delinquency rates
continue to be in line with past
performance.
smile
DIRECT CLUB
($ in millions)
Cash
Debt
Accounts Receivable,
Net
Cash Flow from
Operations
Cash Flow from
Investing
Free Cash Flow(¹)
Q1 2022 Q2 2022 | Q3 2022 | Q4 2022 Q1 2023
$144.7
$158.3 $120.2
$118.4
$739.6 $792.2 $792.4 $849.4 $860.2
($15.1)
$86.3
$240.5 $221.6 $201.8 $187.0 $183.5
($61.3) ($17.8) ($24.1) ($51.5) ($32.6)
($17.8) ($10.8) ($11.8) ($8.0)
($76.4) ($35.6) ($34.9) ($63.3) ($40.6)
Q1 2023 Free Cash Flow improved $36 million compared to Q1 2022
(1) Free Cash Flow is a non-GAAP financial measure. See appendix for definition of Free Cash Flow. Prior period reconciliations are available in
historical SEC filings at https://investors.smiledirectclub.com/financial-filings/sec-filings.
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