SmileDirectClub, Inc. - SDC STOCK NEWS

SmileDirectClub (Nasdaq: SDC) has appointed Riddhi Gangolli, BDS, MS, PhD, as Senior Director of Professional Education and Key Opinion Leader Strategy. Dr. Gangolli, previously with Straumann Group, will enhance the company’s partnerships with dental professionals to promote its telehealth platform and expand its SmileDirectClub Partner Network. This move comes as 30% of general practitioners currently offer clear aligner therapy, presenting significant growth opportunities for the company. SmileDirectClub aims to make dental care affordable, achieving rapid growth since its U.S. launch in 2014.

SmileDirectClub (Nasdaq: SDC) reported its Q2 2020 financial results, revealing total revenue of $107 million with a net loss of $(95 million). Adjusted EBITDA stood at $(20 million), with a diluted EPS of $(0.25). The losses included one-time charges of $(43 million). Unique aligner shipments reached 57,136, and the average aligner gross sales price increased to $1,817. The company made progress in reducing sales and marketing expenses to 32% of revenue, down from 72% in Q1, indicating improved efficiency.

SmileDirectClub (Nasdaq: SDC) has partnered with Smile Brands and its 450 affiliated dental practices across 18 states to offer consumers a new avenue for beginning their aligner treatment. This collaboration, part of SmileDirectClub's direct-to-office offering launched in January 2020, allows patients to initiate treatment with a 3D scan or impression at participating dental offices. Consumers can also access treatment through SmileDirectClub's SmileShops or at-home impression kits. This partnership aims to enhance access to affordable oral care while streamlining the process for dental professionals.

SmileDirectClub (Nasdaq: SDC) has launched its new product, SmileDirectClub Teen, aimed at providing accessible and affordable clear aligner treatment for teenagers. The product features a patented aligner case powered by Tile™ with a Bluetooth tracker, ensuring aligners are not lost. Available from August 4, it offers doctor-monitored treatment through SmileDirectClub's telehealth platform, including notifications for aligner changes and check-ins. The package includes lost aligner protection, free whitening, and a gift card, all priced up to 60% less than traditional braces.

SmileDirectClub (Nasdaq: SDC) has announced its expansion into Singapore and Austria as part of its ongoing international growth strategy. With prior successful launches in markets including the UK, Canada, and Australia, the company now aims to enhance its global presence. The new SmileShops in Singapore and Austria will offer customers access to clear aligner therapy through both in-person and home impressions. President of International, Kay Oswald, emphasized the significant opportunity in these markets, aiming to provide affordable dental care and support local economies.

SmileDirectClub (Nasdaq: SDC) has filed lawsuits against Delta Dental Plans Association and its affiliates for allegedly denying coverage for teledentistry benefits. This move highlights a significant issue for many consumers, as 60% of Americans lack adequate healthcare access and traditional orthodontic care is often unaffordable. The company claims that Delta Dental's refusal to cover clear aligner therapy violates their own policies, while other major insurers support such coverage. The lawsuit emphasizes the importance of expanding access to dental care through telehealth, particularly during the ongoing pandemic.

SmileDirectClub (Nasdaq: SDC) has introduced a new end-to-end oral care system that has led to significant growth in various product categories. The brand is the top performer in the whitening category for 2020 with the bright on™ product, and also ranks highly in the power floss and brush categories. Launched in January 2020, this consumer product line includes an electric toothbrush, teeth whitening system, toothpaste, a water flosser, and an ultrasonic UV cleaner. SmileDirectClub has helped over one million people through remote clear aligner therapy, aiming to democratize access to oral care.

SmileDirectClub has announced a partnership with Watsons to expand access to its clear aligner therapy in Hong Kong through new SmileShops in Watsons stores, starting in Mong Kok and Kwun Tong. Watsons, a leading health and beauty retailer with over 7,800 locations, is the first retail partner for SmileDirectClub in Asia. This collaboration aims to provide affordable and convenient teeth straightening options, enhancing customer service through SmileDirectClub's existing network of dental professionals. Customers can book free 3D scan appointments via the SmileDirectClub website.

SmileDirectClub (NASDAQ: SDC) has launched ContinuedCare, a new telehealth program assisting US consumers in completing interrupted clear aligner therapy due to COVID-19. The program allows qualified patients to transition to SmileDirectClub for $895 or a monthly payment plan of $250 down and $58/month for a year. ContinuedCare includes a fresh set of custom aligners and premium whitening. This initiative aims to ensure continuity of care through its network of over 250 board-certified dental professionals.