SmileDirectClub, Inc. (SDCCQ) Financial Statements (2024 and earlier)

Company Profile

Business Address 414 UNION STREET
NASHVILLE, TN 37219
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3843 - Dental Equipment and Supplies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments93,120224,860316,724318,458
Cash and cash equivalents93,120224,860316,724318,458
Receivables143,082184,558221,973239,413
Inventory, net of allowances, customer advances and progress billings44,38740,80329,24718,431
Inventory44,38740,80329,24718,431
Prepaid expense9,33811,4969,31510,503
Other current assets2,0055801,406551
Other undisclosed current assets5,4875,4432,1113,132
Total current assets:297,419467,740580,776590,488
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization  10,16320,484 
Operating lease, right-of-use asset21,14124,92731,176 
Property, plant and equipment    177,543
Long-term investments and receivables45,16859,21071,355106,315
Accounts and financing receivable, after allowance for credit loss45,16859,21071,355106,315
Restricted cash and investments25,278   
Other noncurrent assets17,97015,48011,48711,299
Other undisclosed noncurrent assets190,087217,038169,511 
Total noncurrent assets:299,644326,818304,013295,157
TOTAL ASSETS:597,063794,558884,789885,645
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities96,450141,988137,437146,045
Accounts payable30,51319,92236,84852,706
Accrued liabilities65,937122,066100,58993,339
Deferred revenue13,64620,25826,61925,435
Debt  10,99715,66435,376
Other liabilities6,7044,9976,821 
Total current liabilities:116,800178,240186,541206,856
Noncurrent Liabilities
Long-term debt and lease obligation, including:849,379729,973392,939173,150
Long-term debt, excluding current maturities849,379729,973392,939173,150
Finance lease, liability   10,997 
Other undisclosed long-term debt and lease obligation  (20,352)(38,768) 
Liabilities, other than long-term debt16,08234743,40047,354
Other liabilities 34743,40047,354
Operating lease, liability16,08220,35227,771 
Other undisclosed noncurrent liabilities  20,35227,771 
Total noncurrent liabilities:865,461750,672464,110220,504
Total liabilities:982,261928,912650,651427,360
Equity
Equity, attributable to parent111,359171,459308,032333,081
Additional paid in capital475,034448,867483,393447,866
Accumulated other comprehensive income (loss)430293(102)(272)
Accumulated deficit(381,725)(295,321)(192,879)(114,513)
Warrants and rights outstanding17,62017,62017,620 
Equity, attributable to noncontrolling interest(496,596)(305,852)(73,932)125,166
Other undisclosed equity39393838
Total equity:(385,198)(134,354)234,138458,285
TOTAL LIABILITIES AND EQUITY:597,063794,558884,789885,645

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues470,743637,611656,780750,428
Cost of revenue(142,890)(177,597)(206,852)(178,390)
Cost of goods and services sold  (177,597)(206,852)(163,861)
Gross profit:327,853460,014449,928572,038
Operating expenses(589,966)(719,298)(667,392)(1,062,311)
Operating loss:(262,113)(259,284)(217,464)(490,273)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))		1,579(4,313)878142
Interest and debt expense (413)(48,896)(20,250)(29,747)
Other undisclosed loss from continuing operations before equity method investments, income taxes    
Loss from continuing operations before income taxes:(260,947)(312,493)(236,836)(519,878)
Income tax expense (benefit)642(1,268)(3,122)(2,268)
Loss from continuing operations:(260,305)(313,761)(239,958)(522,146)
Loss before gain (loss) on sale of properties:✕(313,761)(239,958)(522,146)
Other undisclosed net loss(17,548)(21,889)(38,541)(15,659)
Net loss:(277,853)(335,650)(278,499)(537,805)
Net income attributable to noncontrolling interest191,449233,208200,133423,292
Net loss attributable to parent:(86,404)(102,442)(78,366)(114,513)
Undistributed earnings (loss) allocated to participating securities, basic(191,449)(233,208)(200,133) 
Other undisclosed net income available to common stockholders, basic191,449233,208200,133 
Net loss available to common stockholders, basic:(86,404)(102,442)(78,366)(114,513)
Other undisclosed net loss available to common stockholders, diluted(191,449)(233,208)(200,133) 
Net loss available to common stockholders, diluted:(277,853)(335,650)(278,499)(114,513)

Comprehensive Income ($ in thousands)
Annual | Quarterly

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net loss:(277,853)(335,650)(278,499)(537,805)
Other comprehensive loss    (538,815)
Other undisclosed comprehensive income (loss)4571,295663 
Comprehensive loss:(277,396)(334,355)(277,836)(1,076,620)
Comprehensive income, net of tax, attributable to noncontrolling interest191,129232,308399,773847,322
Comprehensive income (loss), net of tax, attributable to parent:(86,267)(102,047)121,937(229,298)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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