SmileDirectClub Investor Presentation Deck
General & administrative.
●
General and administrative expenses were $78
million in Q4, compared to $74 million in Q3 2020.
G&A expenses were up $4 million
sequentially but included $5.0 million in one-
time expenses primarily associated with a
non-recurring legal settlement.
Adjusting for this, G&A expenses were down
$1 million on a quarter over quarter basis.
Excluding D&A, stock-based compensation,
and one-time items, G&A expenses remain
down $10 million, or 14%, versus Q4 of 2019.
●
●
The stability throughout the quarter was a direct
result of the cost control initiatives we discussed
on prior earnings call.
We plan to stay vigilant with cost control
throughout the remainder of the year and
beyond, as we focus on continuing to
leverage this line item
Our long-term target of 15% of revenue remains
intact.
smile
DIRECT CLUB
●
$4
$17
●
G&A expenses(1) ($ in millions)
$2
$16
$73
37%
Q4 2019
$73
38%
$0
$11
G&A
$58
54%
One-time items:
Q4'19 IPO related bonuses and related costs.
Q1/Q2'20 One time severance (COVID).
$0
$11
Q1 2020
Q2 2020 Q3 2020
IPO-bonuses & other one-time
(1) Percentages represent G&A as a percent of revenue, excluding stock-based compensation and IPO and other one-time costs..
$63
costs
Stock-based Compensation
38%
$5
$7
$66
39%
Q4 2020
Q3 International one-time severance (COVID).
Q4 - $4.8mm legal settlement accrual. Remainder is international severance (COVID).
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