Set-of-Mark extraction review — before (table + bounding box) | after (final markdown)

Left: the page cropped around the table with its final boundary (content_region, the corrected end of the table) drawn; the crop extends a little below so any footnotes sit visibly outside the box. Right: the final corrected markdown. One row per table.

7351996.pdf

5 tables

p1 · table 1 · Conference Call Information

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Conference Call Information
SmileDirectClub Third Quarter 2019 Conference Call Details
Date: Tuesday, November 12, 2019
Time: 4:30 p.m. ET (1:30 p.m. PT)
Dial-In: 1-877-407-9208 (domestic) or 1-201-493-6784 (international)
Webcast: Visit Events and Presentations section of the company s IR page at http:// investors.smiledirectclub.com.
A replay of the call may be accessed from 7:30 p.m. ET on Tuesday, November 12, 2019 until 11:59 p.m ET on Tuesday, November 26, 2019 by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and entering the replay PIN: 136904923. An archived

p3 · table 2 · SmileDirectClub, Inc.

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September 30, 2019December 31, 2018
ASSETS
Cash$ 547,563$ 313,929
Accounts receivable224,360113,934
Inventories14,6338,781
Prepaid and other current assets11,9875,782
Total current assets798,543442,426
Accounts receivable, non-current87,29960,217
Property, plant and equipment, net119,13052,551
Other assets6,269
Total assets$ 1,011,241$ 555,194
LIABILITIES, TEMPORARY AND PERMANENT EQUITY (DEFICIT)
Accounts payable$ 40,561$ 25,250
Accrued liabilities129,43434,939
Due to related parties1,12820,305
Deferred revenue24,89319,059
Current portion of related party debt16,054
Current portion of long-term debt29,7371,866
Total current liabilities225,753117,473
Long-term debt, net of current portion189,648137,123
Long-term related party debt1,799
Other long-term liabilities45,230602
Total liabilities460,631256,997
Commitment and contingencies
Temporary Equity
Redeemable Series A Preferred Units388,634
Permanent Equity (Deficit)
Class A common stock, par value $0.0001 and 102,807,291 shares issued and outstanding at September 30, 2019 and 0 shares issued and outstanding at December 31, 201810
Class B common stock, par value $0.0001 and 279,474,505 shares issued and outstanding at September 30, 2019 and 0 shares issued and outstanding at December 31, 201828
Additional paid-in-capital441,85557,497
Accumulated deficit(88,296)(148,249)
Noncontrolling interest197,013
Warrants315
Total permanent equity (deficit)550,610(90,437)
Total liabilities, temporary and permanent equity (deficit)$ 1,011,241$ 555,194

p4 · table 3 · SmileDirectClub, Inc. Consolidated Statements of Operations

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ItemThree months ended September 30, 2019Three months ended September 30, 2018Nine months ended September 30, 2019Nine months ended September 30, 2018
Revenue, net$ 168,663$ 112,508$ 522,529$ 278,024
Financing revenue11,5227,15831,18516,706
Total revenues180,185119,666553,714294,730
Cost of revenues39,12525,837111,36367,704
Cost of revenues related parties2,31010,09813,65228,608
Total cost of revenues41,43535,935125,01596,312
Gross profit138,75083,731428,699198,418
Marketing and selling expenses131,26357,210340,409143,667
General and administrative expenses389,82830,249486,31977,550
Loss from operations(382,341)(3,728)(398,029)(22,799)
Interest expense4,2914,35211,6079,283
Interest expense related parties293751,246
Loss on extinguishment of debt3229,672
Other expense4216,49350015,135
Net loss before provision for income tax expense(387,085)(14,866)(439,883)(48,463)
Provision for income tax expense47985596294
Net loss(387,564)(14,951)(440,479)(48,757)
Net loss attributable to noncontrolling interest(299,268)(352,183)
Net loss attributable to SDC Inc.$ (88,296)$ (14,951)$ (88,296)$ (48,757)
Earnings per share of Class A common stock:
Basic$ (0.89)N/A$ (0.89)N/A
Diluted$ (0.89)N/A$ (0.89)N/A
Weighted Average Shares Outstanding:
Basic99,533,877N/A99,533,877N/A
Diluted379,008,382N/A379,008,382N/A

p5 · table 4 · SmileDirectClub, Inc.

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SmileDirectClub, Inc.
Consolidated Statements of Cash Flows
(in thousands)
Nine months ended September 30,
Item20192018
Operating Activities
Net loss$ (440,479)$ (48,757)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization16,2374,966
Deferred loan cost amortization1,496461
Accrued interest to related parties884
Fair value adjustment of warrant derivative14,500
Equity-based compensation332,75913,626
Loss on extinguishment of debt17,693
Other non-cash operating activities1,7833,305
Changes in operating assets and liabilities:
Accounts receivable(137,509)(97,005)
Inventories(5,852)(3,963)
Prepaid and other current assets(6,205)(2,233)
Accounts payable(4,475)11,935
Accrued liabilities45,8809,926
Due to related parties(19,177)306
Deferred revenue5,8348,869
Net cash used in operating activities(192,015)(83,180)
Investing Activities
Purchases of property and equipment related party(4,722)
Purchases of property, equipment, and intangible assets(66,355)(15,231)
Net cash used in investing activities(66,355)(19,953)
Financing Activities
IPO proceeds, net of discount and related fees1,285,759
Repurchase of Class A shares and LLC Units(696,489)
Repurchase of Class A shares to cover employee tax withholdings(81,603)
Settlement of canceled awards(2,000)
Issuance of Class A common stock6
Proceeds from sale of Preferred Units, net298,549
Borrowings on long-term debt176,000117,375
Payments of issuance costs(6,127)(3,174)
Principal payments on long-term debt(159,047)
Principal payments on related party debt(24,581)(34,376)
Other86
Net cash provided by financing activities492,004378,374
Increase in cash233,634275,241
Cash at beginning of period313,9294,071
Cash at end of period$ 547,563$ 279,312

p6 · table 5 · SmileDirectClub, Inc.

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ItemThree months ended September 30, 2019Three months ended September 30, 2018Nine months ended September 30, 2019Nine months ended September 30, 2018
(in thousands)(unaudited)
Net loss$ (387,564)$ (14,951)$ (440,479)$ (48,757)
Depreciation and amortization6,5142,23216,2374,966
Total interest expense4,2914,64511,68210,529
Income tax expense47985596294
Fair value adjustment of warrant derivative5,87614,500
Loss on extinguishment of debt3229,672
Equity-based compensation324,4975,754332,75913,626
IPO related costs6,1466,146
Other421617502635
Adjusted EBITDA$ (45,184)$ 4,258$ (42,885)$ (4,207)