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 (NASDAQ: SDC) has filed a $2.8 billion lawsuit against NBC Universal Media and journalist Vicky Nguyen for allegedly airing a defamatory report containing over 40 false statements about the company. The lawsuit claims that NBC misrepresented the safety and effectiveness of SmileDirectClub’s telehealth platform, which adversely impacted the company’s reputation and resulted in a $950 million market cap loss. SmileDirectClub asserts that NBC disregarded provided evidence supporting their claims and maliciously published misleading information, harming patients and investors alike.
SmileDirectClub (Nasdaq: SDC) has announced the addition of seven experts in dentistry and orthodontia to its Clinical Advisory Board, with Senator Bill Frist serving as Honorary Chair. This expansion aims to enhance the company’s strategic direction in teledentistry and clinical outcomes. The board will guide recommended clinical protocols and oversee further research on the efficacy of teledentistry. CEO David Katzman emphasized the importance of these experts in achieving affordable and quality oral care access, reinforcing SmileDirectClub's position in the industry.
SmileDirectClub (NASDAQ: SDC) reported a 11% increase in total revenue for Q1 2020, reaching $197 million compared to Q1 2019. However, the company faced a net loss of $107 million and an Adjusted EBITDA of $(67 million), with a diluted EPS of $(0.28). Unique aligner shipments grew 12% to 122,751 units. Despite the pandemic, the business adapted by leveraging its teledentistry platform and significantly reducing marketing spend, while entering a new debt facility to ensure liquidity.
SmileDirectClub (Nasdaq: SDC) announced management participation in upcoming virtual conferences. Notable events include:
- J.P. Morgan Virtual Conference: May 12-14, 2020, with a presentation on May 14 at 10:10 AM ET.
- Stifel Virtual Jaws & Paws Conference: May 27, 2020, at 3:00 PM ET.
- William Blair Annual Growth Stock Conference: June 9-11, 2020, with a presentation on June 10 at 3:00 PM ET.
Webcasts will be available live and for replay on the company's investor relations website.
SmileDirectClub has appointed Chris Thompson as Vice President of Sales for the Professional Channel, aimed at expanding the company's Office Direct program. This initiative allows dentists and orthodontists to offer clear aligner therapy in their offices, utilizing SmileDirectClub's telehealth platform. Since its launch in January 2020, the program has attracted participants from 21 states. Thompson's experience includes leadership roles at Carbon and Align Technology, which is expected to enhance growth in the dental community. The company also continues to support dental practices during COVID-19.
SmileDirectClub (SDC) has announced the sale of its at-home impression kits to dentists and orthodontists to enhance remote oral care amid the COVID-19 pandemic. These prescription-only kits, designed for making mouth molds, allow dental providers to evaluate patients without office visits. The company also offers its telehealth platform free of charge to dental professionals in the U.S. and Canada. This initiative aims to aid the dental community while ensuring patient safety during ongoing health concerns.
SmileDirectClub (SDC) has expanded access to affordable orthodontic care through partnerships with major insurers UnitedHealthCare, Aetna, and Anthem Blue Cross, effective May 2020. This initiative enhances in-network options for dentists and orthodontists, facilitating remote care solutions. CEO David Katzman emphasized the growing demand for telehealth in dental care, presenting a cost-effective way for consumers to improve their smiles. Since its inception in 2014, SDC has served over one million customers worldwide and recently launched a comprehensive oral care system available at Walmart and online.
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