The teledentistry company released its fourth quarter financial results Feb. 28.
Six notes:
1. SmileDirectClub’s total fourth quarter revenue was $87 million, a 19 percent drop from the third quarter and a 31.5 percent drop from the prior year period.
2. Total 2022 revenue was $471 million, a 26.2 percent decrease compared to 2021.
3. The company saw a net loss of $69 million in quarter four, an improvement of $26 million over the prior year period.
4. Adjusted EBITDA was $47 million, an $18 million decrease from the third quarter and a $14 million improvement compared to the same period in 2021.
5. Net cash used in operating activities was $51 million, an increase of $27 million from the third quarter and an $8 million increase over the prior year period.
6. SmileDirectClub said inflation and challenges to consumer spending are affecting its expected demand for 2023, but the company expects to bring in between $400 million and $450 million in total 2023 revenue.