Welcome to our dedicated page for SmileDirectClub news (Ticker: SDC), a resource for investors and traders seeking the latest updates and insights on SmileDirectClub stock.
SmileDirectClub, Inc. (Nasdaq: SDC) is a pioneering oral care company headquartered in Nashville, Tennessee. Founded in 2014, SmileDirectClub has transformed the teeth-straightening industry with its innovative telehealth platform. By leveraging cutting-edge 3D printing and telehealth technologies, the company offers an affordable and convenient alternative to traditional orthodontic treatments.
SmileDirectClub's core business revolves around its proprietary medtech platform for teeth straightening. This platform allows customers to straighten their teeth without frequent office visits, cutting costs by up to 60%. The company's vertically integrated model includes at-home impression kits, 3D scanning at SmileShop locations, and customized aligner manufacturing, ensuring a seamless and efficient process from start to finish.
Recent achievements highlight SmileDirectClub's commitment to innovation and customer satisfaction. The company has introduced the SmileMaker Platform, which uses AI to create Custom Smile Plans. It also launched CarePlus, a premium service combining in-person doctor visits with virtual check-ins, offering enhanced product features like scalloped edge aligners for added comfort.
Financially, SmileDirectClub has shown resilience, with improved year-over-year EPS and adjusted EBITDA for four consecutive quarters. Despite challenges, including a recent arbitration ruling with former partner Align Technology, the company remains focused on restructuring its balance sheet and securing additional funding to support its operations.
SmileDirectClub is also expanding its retail presence with new SmileShop locations across the U.S., offering more consumers access to its doctor-directed digital orthodontia platform. The company continues to prioritize transparency and customer trust, working closely with regulatory bodies to set new industry standards.
With a mission to democratize access to a smile everyone loves, SmileDirectClub has already helped over two million people worldwide. The company remains committed to delivering premium oral care products and services, making high-quality orthodontic solutions accessible to all.
SmileDirectClub has secured a second patent, U.S. Patent No. 10,861,599, from the USPTO, strengthening its intellectual property for its telehealth platform and retail concept in clear aligner treatment. This patent reinforces the company's unique model, ensuring competitors cannot replicate it for 18 years. Susan Greenspon Rammelt, Chief Legal Officer, emphasized that this recognition validates SmileDirectClub's pioneering digital customer journey. Since its inception in 2014, the company has successfully aided over 1,000,000 clients worldwide in achieving improved smiles.
SmileDirectClub (Nasdaq: SDC) has partnered with Altius Healthcare Management to enhance access to clear aligners across Texas. This collaboration expands the SmileDirectClub Partner Network to over 1,000 locations nationwide, facilitating treatment in rural areas where orthodontic services are limited. By leveraging Altius's 29 offices in Texas, the initiative aims to improve oral health and provide affordable, premium care. SmileDirectClub, which launched in the U.S. in 2014, continues to grow as a leading telehealth solution for orthodontia, serving over one million customers globally.
SmileDirectClub has partnered with MetLife to provide in-network coverage for its telehealth teeth straightening services to over 20 million individuals insured under MetLife's dental plans. This collaboration aims to enhance consumer access to affordable orthodontic care, expanding SmileDirectClub's coverage to virtually all major insurance providers in the U.S. Customers can start their treatment via 3D scans or at-home impression kits, with remote monitoring by licensed professionals. Since its U.S. launch in 2014, SmileDirectClub has served over one million customers globally.
SmileDirectClub has launched the SmileDirectClub Foundation, a nonprofit initiative aimed at empowering vulnerable individuals with access to resources that enhance self-confidence during life transitions. The foundation will support various charitable partners, including Hire Heroes USA and Year Up, which assist military members and young adults in workforce readiness. CMO John Sheldon emphasizes the importance of self-confidence, stating the foundation's mission extends beyond customers to impact communities. Since its 2014 debut, SmileDirectClub has served over one million customers globally.
SmileDirectClub (Nasdaq: SDC) has partnered with Unified Smiles, enhancing access to clear aligner treatment in dental offices nationwide. This collaboration allows consumers to begin their SmileDirectClub journey at participating dentist locations, while facilitating new patient opportunities for independent dentists. The partnership expands on SmileDirectClub's existing network, which includes over 1,000 partner locations. This collaboration reinforces the company's mission to provide accessible, affordable orthodontic solutions through its telehealth platform.
SmileDirectClub, Inc. (SDC) reported its Q3 2020 financial results, revealing total revenue of $169 million and a net loss of $(43) million. The company achieved an Adjusted EBITDA of $3 million, marking a significant improvement of 106.7% compared to the same quarter in 2019. Unique aligner shipments reached 93,301, with an average sales price of $1,794 per aligner. The management expressed confidence in their strategy for controlled growth and profitability, anticipating continued favorable industry dynamics and plans for international expansion.
SmileDirectClub (Nasdaq: SDC) has announced its participation in two key virtual healthcare conferences on November 18, 2020. The company will present at the Stifel Virtual Healthcare Conference at 10 AM ET and the Wolfe Virtual Healthcare Conference at 4:25 PM ET. These presentations will be accessible via live webcast on the company’s investor relations site. SmileDirectClub aims to revolutionize oral care with its medtech platform for teeth straightening, emphasizing affordability and convenience in the dental industry.
SmileDirectClub (Nasdaq: SDC) announced it will release its third-quarter 2020 financial results on November 16, 2020, after market close. A conference call will be hosted by CEO David Katzman and CFO Kyle Wailes at 4:30 p.m. Eastern Time to discuss these results. Interested parties can join via dial-in or through the company’s IR page. A replay will be available after the call and can be accessed until November 30, 2020. SmileDirectClub aims to enhance dental care access through innovative technology and operates in numerous countries worldwide.
SmileDirectClub (SDC) announced a partnership with DECA Dental, expanding its Partner Network to over 600 dental practices across the U.S. The alliance allows consumers in Texas to initiate SmileDirectClub's clear aligner treatment in dental offices, enhancing access to oral care solutions. CEO David Katzman emphasized the commitment to innovative, affordable treatment options. Since its launch in 2014, SDC has served over 1 million customers, positioning itself as a leading teledentistry provider. This partnership aims to democratize dental care and improve treatment accessibility.
SmileDirectClub has announced that the USPTO has granted patents for its innovative Electric Toothbrush featuring interchangeable aligner heads and a Bluetooth-powered aligner case. These patents underscore the company's commitment to innovation in the oral care market. Since launching oral care products in Walmart in January 2020, SmileDirectClub has emerged as a leading growth contributor in the oral care segment. Its Electric Toothbrush is among the top growth products in the electric brush category and was recognized as one of the best toothbrushes of 2020 by Cosmopolitan.
FAQ
What is the market cap of SmileDirectClub (SDC)?
What is SmileDirectClub's core business?
How does SmileDirectClub's telehealth platform work?
What recent innovations has SmileDirectClub introduced?
What financial milestones has SmileDirectClub achieved recently?
Where is SmileDirectClub headquartered?
How many people has SmileDirectClub helped so far?
What is the SmileMaker Platform?
How does SmileDirectClub ensure customer satisfaction?
What are SmileShops?
What steps is SmileDirectClub taking to restructure financially?
