Why SmileDirectClub's Spending Should Leave Investors Frowning [The Motley Fool]
SmileDirectClub, Inc. (SDC)
Last smiledirectclub, inc. earnings: 2/25 04:03 pm
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Source: The Motley Fool
Without a doubt,SmileDirectClubAlign Image source: Getty Images.Misaligned numbersDuring 0's second quarter, SmileDirectClub undoubtedly vexed some of its cost-conscious stakeholders with an adjusted operating loss of $.7 million and negative free cash flow of $ million.What ought to have been the greatest cause for consternation, though, was the company's penchant for spending money it doesn't actually have. At the end of that same quarter, SmileDirectClub carried an eye-watering $79 million in long-term debt, yet the company's quarterly marketing and selling expenses increased 77.9%.Any hopes of fiscal discipline were promptly dashed in Q as SmileDirectClub posted gross profit of $98. million, against a "marketing and selling" expense of $96. million.Playing the blame gameAlso during Q, SmileDirectClub posted a trifecta of wide misses, with worse-than-expected showings on revenue, earnings, and forward revenue guidance. If ever there were a time for somemea culpaInstead, CEO David K
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