SmileDirectClub Investor Presentation Deck
Q1 2022 Results.
Revenue for the quarter was $151.6 million, which
is down (24.0%) year-over-year and up 20.1% over
Q4 2021, primarily due to the seasonal trends for
increased aligner orders from Q4 to Q1.
Gross margin for the quarter was 71.6%, which
represents a (435 bps) decline year-over-year,
and a 673 bps increase compared to Q4 2021.
This sequential increase over prior quarter is
primarily due to increased revenue and prior
quarter one-time costs associated with SmileOS
startup and lower retail margin associated with
higher operational expense and excess inventory
costs.
●
Q1 Adjusted EBITDA) was $(34.4mm) for the
quarter, an improvement of $27.2mm compared
to Q4 2021 due to increased revenue and cost
actions taken beginning in January and continuing
throughout the quarter.
Net loss for the quarter was ($73.2mm).
smile
DIRECT
After adjusting for one-time items mentioned
above in Q4 2021, gross margin increased
273 bps in Q1 2022 compared to Q4 2021
CLUB
Net Revenue
Gross Profit
Gross Margin %
Adjusted EBITDA(¹)
EPS, Diluted
$126
$82
Q1 2022
Q4 2021
$ 151.6mm
$ 108.6mm
■Revenue
QoQ
71.6%
673 bps
(34.4mm) $ 27.2mm
$ (0.19) $ 0.06
20.1%
Sequential Revenue & Gross Profit ($ in millions)
(1) Adjusted EBITDA is a non-GAAP financial measure. See appendix for definition of Adjusted EBITDA.
32.5%
$152
Q1 2022
Gross Profit
YOY
(24.0%)
(28.3%)
(435 bps)
$ (39.4mm)
$ 0.06
$109
Q1 2022 revenue increased 20.1% compared to Q4
2021 with Gross Profit up 32.5%
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