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  "documentTitle": "SmileDirectClub | Investor Presentation Deck | 42 slides",
  "authorId": "smiledirectclub",
  "authorName": "SmileDirectClub",
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  "presentationDate": "2023-08-01 00:00:00",
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      "kind": "callout",
      "text": "Fifth consecutive quarter of YOY Free Cash Flow improvement",
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      "text": "smile DIRECT CLUB",
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      "text": "We ended Q2 with $58.0 million in cash and cash equivalents.\nCash from operations for the second quarter was ($17.8) million which is consistent with Q2 2022.\nCash spent on investing for the second quarter was ($10.2) million, down $7.6mm from Q2 2022.\nFree Cash Flow was ($28.1) million in the quarter, an improvement of $7.5mm compared to ($35.6) million in Q2 2022.\nIn Q2 2023, SmilePay financing usage, as a percentage of total aligners purchased was 66.4%, which increased about 500 bps compared to Q1 2023.\nOverall, SmilePay delinquency rates continue to be in line with past performance.\nIn August, our founders provided a $10.0 million revolving line of credit to fund working capital and the new initiatives.",
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      "kind": "source-note",
      "text": "(1) Free Cash Flow is a non-GAAP financial measure. See appendix for definition of Free Cash Flow. Prior period reconciliations are available in historical SEC filings at https://investors.smiledirectclub.com/financial-filings/sec-filings.",
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      "text": "($ in millions) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023\nCash $144.7 $158.3 $120.2 $118.4 $86.3 $58.0\nDebt $739.6 $792.2 $792.4 $849.4 $860.2 $863.4\nAccounts Receivable, Net $240.5 $221.6 $201.8 $187.0 $183.5 $178.8\nCash Flow from Operations ($61.3) ($17.8) ($24.1) ($51.5) ($32.6) ($17.8)\nCash Flow from Investing ($15.1) ($17.8) ($10.8) ($11.8) ($8.0) ($10.2)\nFree Cash Flow (1) ($76.4) ($35.6) ($34.9) ($63.3) ($40.6) ($28.1)",
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      "text": "Balance sheet highlights.",
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      "evidence": "table/data: ($ in millions) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Cash $144.7 $158.3 $120.2 $118.4 $86.3 $58.0 Debt $739.6 $792.2 $792.4 $849.4 $860.2 $863.4 Accounts Receivable, Net $240.5 $221.6 $201.8 $187.0",
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