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  "documentTitle": "SmileDirectClub | Investor Presentation Deck | 43 slides",
  "authorId": "smiledirectclub",
  "authorName": "SmileDirectClub",
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  "presentationDate": "2023-05-01 00:00:00",
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      "text": "Q1 2023 revenue decreased $32 million compared to Q1 2022 while Adjusted EBITDA increased $8 million and Free Cash Flow improved $36 million",
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      "text": "Year-Over-Year Financial Results ($ in millions)\nQ1 2022: Revenue $152, Gross Profit $109, Adjusted EBITDA ($34), FCF ($76)\nQ1 2023: Revenue $120, Gross Profit $87, Adjusted EBITDA ($27), FCF ($41)",
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      "text": "Revenue for the quarter was $119.8 million, which is down (21.0%) year-over-year due to macroeconomic conditions but up meaningfully by 38.4% from Q4 2022, following seasonal trends of sequential growth.\nGross margin for the quarter was 72.5%, which represents a 94 bps increase year-over-year, and a 1,155 bps improvement compared to Q4 2022.\nQ1 Adjusted EBITDA(1) was $(26.5mm) for the quarter, an $8.0mm year-over-year improvement compared to Q1 2022, despite a ($31.9mm) decrease in revenue driven primarily by cost control actions and increased marketing efficiencies.\nNet loss for the quarter was ($65.7mm) an improvement of $7.5mm vs prior year.\nQ1 Free Cash Flow improved $35.8 million compared to Q1 2022, showing progress in our FCF improvement goals.",
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      "text": "(1) Adjusted EBITDA and Free Cash Flow are non-GAAP financial measure. See appendix for definition of Adjusted EBITDA and Free Cash Flow. Prior period reconciliations are available in historical SEC filings at https://investors.smiledirectclub.com/financial-filings/sec-filings.",
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      "text": "Q1 2023, QoQ, YoY, Net Revenue, $ 119.8mm, 38.4%, (21.0%), Gross Profit, $ 86.9mm, 64.6%, (20.0%), Gross Margin %, 72.5%, 1,155 bps, 94 bps, Adjusted EBITDA(1), $ (26.5mm), $ 20.9mm, $ 8.0mm, EPS, Diluted, $ (0.16), $ 0.02, $ 0.03, Free Cash Flow(1), $ (40.6mm), $ 22.7mm, $ 35.8mm",
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      "text": "Q1 2023 results.",
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