SmileDirectClub, Inc. (SDC) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments225317318
Cash and cash equivalents225317318
Receivables185222239
Inventory, net of allowances, customer advances and progress billings412918
Inventory412918
Prepaid expense11911
Other current assets111
Other undisclosed current assets523
Total current assets:468581590
Noncurrent Assets
Finance lease, right-of-use asset1020 
Operating lease, right-of-use asset2531 
Property, plant and equipment  178
Long-term investments and receivables5971106
Accounts and financing receivable, after allowance for credit loss5971106
Other noncurrent assets151111
Other undisclosed noncurrent assets217170 
Total noncurrent assets:327304295
TOTAL ASSETS:795885886
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities142137146
Accounts payable203753
Accrued liabilities12210193
Deferred revenue202725
Debt111635
Other liabilities57 
Total current liabilities:178187207
Noncurrent Liabilities
Long-term debt and lease obligation, including:730393173
Long-term debt, excluding current maturities730393173
Finance lease, liability 11 
Operating lease, liability2028 
Other undisclosed long-term debt and lease obligation(20)(39) 
Liabilities, other than long-term debt04347
Other liabilities04347
Other undisclosed noncurrent liabilities2028 
Total noncurrent liabilities:751464221
Total liabilities:929651427
Stockholders' equity
Stockholders' equity attributable to parent171308333
Additional paid in capital449483448
Accumulated other comprehensive income (loss)0(0)(0)
Accumulated deficit(295)(193)(115)
Warrants and rights outstanding1818 
Stockholders' equity attributable to noncontrolling interest(306)(74)125
Other undisclosed stockholders' equity000
Total stockholders' equity:(134)234458
TOTAL LIABILITIES AND EQUITY:795885886

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
Revenues638657750
Cost of revenue(178)(207)(178)
Cost of goods and services sold(178)(207)(164)
Gross profit:460450572
Operating expenses(719)(667)(1,062)
Operating loss:(259)(217)(490)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(4)10
Interest and debt expense(49)(20)(30)
Loss from continuing operations before income taxes:(312)(237)(520)
Income tax expense(1)(3)(2)
Loss before gain (loss) on sale of properties:(314)(240)(522)
Other undisclosed net loss(22)(39)(16)
Net loss:(336)(278)(538)
Net income attributable to noncontrolling interest233200423
Net loss attributable to parent:(102)(78)(115)
Undistributed earnings (loss) allocated to participating securities, basic(233)(200) 
Other undisclosed net income available to common stockholders, basic233200 
Net loss available to common stockholders, basic:(102)(78)(115)
Other undisclosed net loss available to common stockholders, diluted(233)(200) 
Net loss available to common stockholders, diluted:(336)(278)(115)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
Net loss:(336)(278)(538)
Other comprehensive loss  (539)
Other undisclosed comprehensive income11 
Comprehensive loss:(334)(278)(1,077)
Comprehensive income, net of tax, attributable to noncontrolling interest232400847
Comprehensive income (loss), net of tax, attributable to parent:(102)122(229)

Statements sources

The financial statements are based on the company's filings with the 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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