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      "text": "(1) Adjusted EBITDA is a non-GAAP financial measure. See appendix for definition of Adjusted EBITDA.",
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      "text": "For Q4 2020, we expect the following: 100,000 initial aligner shipments; Revenue of $180 million. Both numbers represent 7% sequential increase and track well against our long-term targets. This is over 90% of our Q4 2019 revenue, but that was a quarter where we spent 72% of revenue on sales and marketing, and Adjusted EBITDA(1) was negative $60 million. We expect to continue to see the efficiency in sales and marketing that we saw in Q3 2020, and we also expect to remain profitable. This is a dramatic change in a short period of time and positions us well to continue to execute against our long-term targets. We are managing the business to drive towards our long-term financial targets, which include 20-30% revenue growth per year, and Adjusted EBITDA margins of 25-30%.",
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