SmileDirectClub Results Presentation Deck
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Q2 2020 results.
Revenue for the quarter was $107 million, which
represents a decrease of 45% over the second
quarter of 2019.
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This decrease was driven primarily by a 53%
YOY decrease in aligner shipments which
came in at 57,136.
Gross margin for the quarter was 54%.
In Q2 we saw our cancellations increase from
5.3% to 6.5% of gross aligner revenue.
We do not believe this increase will be
permanent; however, we want to be
conservative given the uncertainty of our
COVID operating environment.
smile
DIRECT CLUB
Decline is described in more detail on the
following page.
Q2 Adjusted EBITDA(¹) was negative $20mm for
the quarter. This is a sequential improvement of
70%.
Q2 2020
$
107.1mm
58.3mm
$
Net Revenue
Gross Profit
Gross Margin %
(20.3)mm
Adjusted EBITDA(1)
EPS, Diluted (2)
$ (0.25)
(1) Adjusted EBITDA is a non-GAAP financial measure.
See appendix for definition of Adjusted EBITDA.
YOY
54%
-45%
-64%
-2,785bps
NM
ΝΑ
(2) Includes one-time charges of approximately $(43)
million related to lease abandonment, impairment of
long-lived assets, other related charges, and loss on
extinguishment of debt. Excluding such charges,
second quarter net loss was $(52) million and
second quarter diluted EPS was $(0.13).
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