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  "documentTitle": "SmileDirectClub | Investor Presentation Deck | 42 slides",
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  "authorName": "SmileDirectClub",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "Q2 2023 revenue decreased $24 million compared to Q2 2022 while Adjusted EBITDA increased $10 million and Free Cash Flow improved $8 million",
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      "text": "Year-Over-Year Financial Results ($ in millions)\n$126 $92 ($23) ($36) Q2 2022\n$102 $73 ($14) ($28) Q2 2023\nRevenue Gross Profit Adjusted EBITDA FCF",
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      "text": "smile DIRECT CLUB",
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      "text": "Revenue for the quarter was $101.8 million, which is down (19.1%) year-over-year due to macroeconomic conditions and down (15.0%) from Q1 2023, following typical seasonal trends of sequential decline.\nGross margin for the quarter was 71.6%, which represents a (129 bps) decrease year-over-year, driven by the deleveraging of fixed expenses on lower aligner volumes.\nQ2 Adjusted EBITDA(1) improvement of $12.9 million over the first quarter of 2023, and an improvement of $9.6 million over the prior year period at ($13.6) million, driven primarily by cost control actions and increased marketing efficiencies despite a ($24.0mm) decrease in year-over-year revenue .\nNet loss for the quarter was ($53.8mm), an $11.7mm year-over-year improvement over Q2 2022.\nQ2 Free Cash Flow improved $7.5 million year-over-year compared to Q2 2022 and improved $12.5 million sequentially compared to Q1 2022. On a YTD basis, Free Cash Flow improved by over $43.0 million compared to the prior year.",
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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": "Q2 2023 QoQ YoY\nNet Revenue $ 101.8mm (15.0%) (19.1%)\nGross Profit $ 72.9mm (16.1%) (20.5%)\nGross Margin % 71.6% (91 bps) (129 bps)\nAdjusted EBITDA(1) $ (13.6mm) $ 12.9mm $ 9.6mm\nEPS, Diluted $ (0.13) $ 0.03 $ 0.04\nFree Cash Flow(1) $ (28.1mm) $ 12.5mm $ 7.5mm",
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      "text": "Q2 2023 results.",
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