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 Appoints Troy Crawford as CFO
Effective June 6, 2022, SmileDirectClub has appointed Troy Crawford as Chief Financial Officer, having served as interim CFO since January 2022. Crawford, who joined the company in January 2020, aims to enhance profitability and growth strategies. CEO David Katzman expressed confidence in Crawford's capabilities and financial discipline. SmileDirectClub, known for its innovative telehealth solutions in oral care, has successfully served 1.7 million customers, saving over $5 billion compared to traditional braces.
SmileDirectClub Appoints New Independent Director
On May 31, 2022, SmileDirectClub (Nasdaq: SDC) announced the appointment of Linda Williams as an independent director, effective June 3, 2022. Williams brings extensive experience in healthcare and information security, notably as Senior VP at Blue Cross Blue Shield of Massachusetts. Her expertise is expected to bolster the company's operational execution and growth initiatives. Following her appointment, SmileDirectClub's Board will have eight directors, including three independent members, enhancing its diversity and governance.
SmileDirectClub, Inc. (Nasdaq: SDC) will participate in the Stifel 2022 Jaws and Paws Conference on June 1, 2022, at 12:05 PM ET. This event showcases the company’s innovative telehealth platform for teeth straightening, enhancing access and affordability in oral care. Live audio of the presentation will be available on their website in the 'Events and Presentations' section. SmileDirectClub is committed to transforming the oral care industry through its technology-driven approach, headquartered in Nashville, Tennessee.
SmileDirectClub (SDC) reported Q1 2022 revenue of $152 million, up 20.1% from Q4 2021 but down 24% year-over-year. Gross profit rose 32.5%, while net loss improved to $(73) million. Unique aligner shipments increased by 15.3% sequentially, reaching 76,254. The average aligner sales price slightly decreased. The company secured a $255 million debt facility, enhancing liquidity for growth initiatives. Despite the challenges, SDC remains optimistic about its mission to democratize oral care and has a strong telehealth presence, holding 36 patents with many pending.
SmileDirectClub has announced the launch of its new Wireless Premium Teeth Whitening Kit, now available in nearly 4,000 Walmart stores nationwide. This innovative kit combines a 6 mL whitening gel pen with a rechargeable LED whitening light, promising to brighten teeth up to 9 shades in a week. Priced at $45, the gel is enamel-safe and designed for low sensitivity. Since its establishment in 2014, SmileDirectClub has served over 1.7 million customers, revolutionizing oral care through its unique telehealth platform.
SmileDirectClub (Nasdaq: SDC) announced a new $255 million secured debt facility to enhance liquidity and support growth initiatives. The loan agreement, finalized on April 27, 2022, allows the company to leverage account receivables for additional funds to drive future growth. As of the announcement, $65 million was drawn from the facility. This financial move follows operational adjustments aimed at optimizing the business's structure and focusing on core growth strategies, according to Interim CFO Troy Crawford.
SmileDirectClub (Nasdaq: SDC) will announce its first quarter 2022 results on May 9, 2022, after market close. CEO David Katzman and interim CFO Troy Crawford will host a conference call on May 10, 2022, at 8 a.m. ET to discuss the results. Investors can join the call by dialing 1-877-407-9208 (domestic) or 1-201-493-6784 (international). A replay will be available from 11 a.m. ET on the same day until May 17, 2022. More information can be found on the SmileDirectClub Investor Relations website.
SmileDirectClub (Nasdaq: SDC) reported its 2021 fourth quarter financial results with total revenue of $126 million, down 31.6% year-over-year. The company posted a net loss of $(95) million and an adjusted EBITDA of $(62) million. Full year 2021 revenue totaled $638 million, reflecting a 2.9% decline. Despite these challenges, the company remains optimistic, projecting 2022 revenue between $600 million and $650 million. The CEO highlighted ongoing macroeconomic headwinds but emphasized strategic cost reductions and continued focus on profitability.
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