The clear aligner company released its second quarter financial results Aug. 8.
Here are six notes on the company’s second quarter financial performance:
1. SmileDirectClub’s total revenue was 15 percent lower compared to the first quarter of 2023 and 19 percent lower than the second quarter of 2022.
2. The company had a net loss of $54 million, a $12 million improvement compared to the second quarter of 2022.
3. SDC’s adjusted EBITDA was $14 million, a $13 million improvement over the first quarter of 2023 and a $10 million improvement compared to the prior year period.
4. Net cash used in operating activities was $18 million, a decrease of $15 million compared to this year’s first quarter.
5. SmileDirectClub had 46,774 unique shipments of its clear aligners, down from 59,645 shipments in the first quarter of 2023.
6. SmileDirectClub said it entered a $10 million credit facility to support itself as it restructures its balance sheet.
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