SmileDirectClub, Inc. (SDC) 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)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments59,12593,120120,181158,264144,747224,860
Cash and cash equivalents59,12593,120120,181158,264144,747224,860
Receivables135,708143,082152,531166,528181,651184,558
Inventory, net of allowances, customer advances and progress billings40,03144,38744,24243,11039,01840,803
Inventory40,03144,38744,24243,11039,01840,803
Prepaid expense10,8799,33811,59912,25310,08411,496
Other current assets5182,0053,9716,9179,534580
Other undisclosed current assets5,3285,4875,5154,6465,1845,443
Total current assets:251,589297,419338,039391,718390,218467,740
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization      10,163
Operating lease, right-of-use asset18,82621,14122,81023,82523,84824,927
Long-term investments and receivables47,80945,16849,24955,09358,87659,210
Accounts and financing receivable, after allowance for credit loss47,80945,16849,24955,09358,87659,210
Restricted cash and investments27,12925,278    
Other noncurrent assets18,51417,97019,18419,35015,42515,480
Other undisclosed noncurrent assets181,739190,087202,514210,574221,883217,038
Total noncurrent assets:294,017299,644293,757308,842320,032326,818
TOTAL ASSETS:545,606597,063631,796700,560710,250794,558
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities88,69596,450151,552151,704130,026141,988
Taxes payable5,6874,047 
Employee-related liabilities23,51022,815 
Accounts payable34,88030,51336,09733,78018,28619,922
Accrued liabilities53,81565,93786,25891,062111,740122,066
Deferred revenue16,83713,64614,50717,35219,83320,258
Debt   4,2176,1898,59310,997
Other liabilities6,7116,7046,7035,9214,8964,997
Other undisclosed current liabilities   (29,197)(26,862)  
Total current liabilities:112,243116,800147,782154,304163,348178,240
Noncurrent Liabilities
Long-term debt and lease obligation, including:860,197849,379805,137804,443730,992729,973
Long-term debt, excluding current maturities860,197849,379788,164785,961730,992729,973
Other undisclosed long-term debt and lease obligation     (19,097)(20,352)
Liabilities, other than long-term debt15,03916,082746349350347
Other liabilities421 746349350347
Operating lease, liability14,61816,08216,97318,48219,09720,352
Other undisclosed noncurrent liabilities     19,09720,352
Total noncurrent liabilities:875,236865,461805,883804,792750,439750,672
Total liabilities:987,479982,261953,665959,096913,787928,912
Equity
Equity, attributable to parent98,516111,359126,426141,200152,324171,459
Additional paid in capital483,511475,034467,946460,820452,153448,867
Accumulated other comprehensive income529430741967453293
Accumulated deficit(403,144)(381,725)(359,881)(338,207)(317,902)(295,321)
Warrants and rights outstanding17,62017,62017,62017,62017,62017,620
Equity, attributable to noncontrolling interest(540,429)(496,596)(448,334)(399,775)(355,900)(305,852)
Other undisclosed equity403939393939
Total equity:(441,873)(385,198)(321,869)(258,536)(203,537)(134,354)
TOTAL LIABILITIES AND EQUITY:545,606597,063631,796700,560710,250794,558

Income Statement (P&L) ($ in thousands)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Revenues119,77786,531106,770125,796151,646126,286
Cost of revenue(32,892)(33,754)(31,995)(34,075)(43,066)(44,364)
Cost of goods and services sold      (44,364)
Gross profit:86,88552,77774,77591,721108,58081,922
Operating expenses(146,066)(125,934)(137,085)(146,679)(180,268)(175,142)
Operating loss:(59,181)(73,157)(62,310)(54,958)(71,688)(93,220)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
1,48410,143(1,323)(5,818)(1,423)(576)
Interest and debt expense      (1,265)
Other undisclosed loss from continuing operations before equity method investments, income taxes  (413)    
Loss from continuing operations before income taxes:(57,697)(63,427)(63,633)(60,776)(73,111)(95,061)
Income tax expense (benefit)(321)174(739)(256)1,463308
Loss from continuing operations:(58,018)(63,253)(64,372)(61,032)(71,648)(94,753)
Loss before gain (loss) on sale of properties:(64,372)(61,032)(71,648)(94,753)
Other undisclosed net loss(7,709)(6,178)(5,360)(4,454)(1,556)(612)
Net loss:(65,727)(69,431)(69,732)(65,486)(73,204)(95,365)
Net income attributable to noncontrolling interest44,30847,58748,05845,18150,62366,104
Net loss attributable to parent:(21,419)(21,844)(21,674)(20,305)(22,581)(29,261)
Undistributed earnings (loss) allocated to participating securities, basic(44,308)(47,587)(48,058)(45,181)(50,623)(66,104)
Other undisclosed net income available to common stockholders, basic44,30847,58748,05845,18150,62366,104
Net loss available to common stockholders, basic:(21,419)(21,844)(21,674)(20,305)(22,581)(29,261)
Other undisclosed net loss available to common stockholders, diluted(44,308)(47,587)(48,058)(45,181)(50,623)(66,104)
Net loss available to common stockholders, diluted:(65,727)(69,431)(69,732)(65,486)(73,204)(95,365)

Comprehensive Income ($ in thousands)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Net loss:(65,727)(69,431)(69,732)(65,486)(73,204)(95,365)
Other undisclosed comprehensive income (loss)304(986)(727)1,654516603
Comprehensive loss:(65,423)(70,417)(70,459)(63,832)(72,688)(94,762)
Comprehensive income, net of tax, attributable to noncontrolling interest44,10348,26248,55944,04150,26765,685
Comprehensive loss, net of tax, attributable to parent:(21,320)(22,155)(21,900)(19,791)(22,421)(29,077)

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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