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  "documentTitle": "SmileDirectClub | Investor Presentation Deck | 48 slides",
  "authorId": "smiledirectclub",
  "authorName": "SmileDirectClub",
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  "presentationDate": "2022-08-01 00:00:00",
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      "kind": "disclaimer",
      "text": "Factoring all items implies that we would expect to return to EBITDA profitability by 2023 and to positive cash flow by 2024 or 2025 assuming success of SmileMaker\nOutlined model excludes any investments that may need to be made in order to achieve outsized growth in the professional channel or moving upstream into the traditional wire & brackets customer base",
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      "text": "Capex: 7% to 10% of revenue\nExpecting leverage on revenue growth",
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      "text": "Selling & marketing: 300-350bps annual margin improvement\nLeverage on marketing spend from annual aligner pricing and modest gains in efficiency\nProfitable shop expansion through higher shop utilization",
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      "text": "General & administration: 200-225bps annual margin improvement\nSpend growth approximates pace of inflation with expansion driven by leverage on revenue",
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      "text": "Mid-teens CAGR\nAligner shipments expected to achieve 2019 levels by 2026\nAligner Average Net Selling Price (ASP) growth of 4% to 5% annually\nOral Care CAGR of 15% to 25%",
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      "text": "Gross margin: ~50bps-100bps annual expansion\nNet of gross margin headwind from Oral Care business growth\nIncreased aligner volumes leverages fixed costs\nHigher utilization mix of 2nd generation machines driving cost efficiencies",
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      "text": "REVENUE",
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      "text": "COSTS & CAPITAL",
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      "kind": "paragraph",
      "text": "Reaffirms Long-Term Guidance provided on February 28, 2022\nQuicker share gains with higher income and traditional wire & brackets customers could result in growth expectations above the model outlined below",
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      "kind": "title",
      "text": "Long-term model guiding core business from 2022-2026.",
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