SmileDirectClub, Inc. - SDC STOCK NEWS

SmileDirectClub has appointed Azmat Ali as Vice President of Product, aimed at enhancing customer experience through innovative offerings. With a background at Lyft and HP, Ali will drive the product vision for the company's teeth straightening business. His immediate focus includes the rollout of the new SmileMaker Platform, an app-based AI tool for smile previews. SmileDirectClub has served over 1.8 million customers since 2014, saving them more than $5 billion compared to traditional braces.

SmileDirectClub (Nasdaq: SDC) announced its membership in the Dental Trade Alliance, enhancing its influence in the oral health sector. This partnership aligns with the company’s strategy to promote its telehealth platform and expand its Partner Network. As the only member offering clear aligners, SmileDirectClub aims to improve accessibility to dental care, having served over 1.8 million customers since 2014, saving them over $5 billion compared to traditional braces. The membership is a step toward advancing oral health initiatives.

SmileDirectClub (Nasdaq: SDC) has transitioned to a second-generation retainer manufacturing technology at its FDA-registered Smile Labs in Antioch, Tennessee. The new system utilizes patented laser technology, resulting in precision-cut retainers that enhance comfort and maintain proper tooth alignment. This upgrade has boosted production efficiency, enabling SmileDirectClub to produce twice as many products with one-third of the manpower, increasing productivity by 225%. The company has served over 1.8 million customers, collectively saving them over $5 billion compared to traditional braces.

SmileDirectClub (Nasdaq: SDC) has announced its partnership with the National Dental Association (NDA) for the SmileDirectClub Scholarship, aimed at supporting dental students and professionals of color for the second consecutive year. This initiative is part of SmileDirectClub's commitment to diversity and inclusion in oral care. Applications for the scholarship are open until September 26, with 28 recipients set to receive $7,500 each for tuition. The NDA highlights the importance of increasing representation in dentistry to improve health equity.

SmileDirectClub (SDC) reported a total revenue of $126 million in Q2 2022, marking a 17% decrease from Q1 and a 27.8% decline year-over-year. The net loss improved by $8 million from Q1 to $(65) million. Adjusted EBITDA also improved to $(23) million, an $11 million gain from Q1. Unique aligner shipments fell by 17.8% to 62,705, while the average aligner sales price rose to $1,917. The company anticipates full-year revenue between $450 million and $500 million, citing challenging market conditions and shifting consumer spending patterns.

SmileDirectClub appoints Alex Dimitrief as an independent director on its Board of Directors, effective immediately. Dimitrief, an experienced leader with a background in business and legal roles at General Electric, will bring valuable knowledge to the board. His appointment aims to enhance the board's expertise as the company focuses on initiatives for growth and profitability. Dimitrief will also serve on the Audit Committee and the Nominating and Corporate Governance Committee, bringing the Board to nine members, four of whom are independent.

SmileDirectClub (Nasdaq: SDC), an innovative oral care company, will release its second quarter 2022 financial results on August 8, 2022, after market close. A conference call to discuss these results will be held on August 9, 2022, at 8 a.m. ET, hosted by CEO David Katzman and CFO Troy Crawford. Interested parties can access the call via a dial-in number or through a webcast on the company's Investor Relations page. A replay will be available until August 16, 2022. SmileDirectClub aims to make teeth straightening affordable and accessible through its medtech platform.

SmileDirectClub appoints David Rodriguez as Vice President of Professional Relations and Marketing, aiming to enhance its presence in the dental industry. With over 20 years of experience from Align Technology and Henry Schein Dental, Rodriguez will lead professional education and key opinion leader strategies. The company has improved its sentiment among dental professionals and anticipates further growth in its Partner Network program. Since its U.S. launch in 2014, SmileDirectClub has served over 1.7 million customers and saved them more than $5 billion compared to traditional braces.