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 partnered with Carestream Dental to enhance its intraoral scanning capabilities across its global SmileShop and Partner Network locations. The Carestream CS 3700 intraoral scanner was chosen for its accuracy and ease of use, following a successful pilot program. This partnership aims to improve customer outcomes in teeth straightening by integrating advanced technology into SmileDirectClub’s telehealth platform. The company has served over 1.5 million customers since its U.S. launch in 2014, positioning itself as a leader in the health technology sector.
SmileDirectClub (Nasdaq: SDC) has launched a new oral care product called Stain Barrier, aimed at protecting teeth from common staining beverages like coffee and red wine. This innovative gel applicator provides an invisible shield, blocking stains for up to 4 hours and is safe for daily use. Each pen offers 30 applications for just $17. The product will also be available in over 4,000 Walmart locations starting mid-February 2022. SmileDirectClub continues to expand its portfolio, reinforcing its position as a leading player in the oral care industry.
SmileDirectClub (Nasdaq: SDC) will report its fourth quarter and year-end results for 2021 on February 28, 2022, after market close. The conference call to discuss these results is scheduled for March 1, 2022, at 8 a.m. Eastern Time, hosted by CEO David Katzman and interim CFO Troy Crawford. Interested parties can join the call by dialing 1-877-407-9208 or via webcast on the company's Investor Relations page. A replay will be available from March 1 until March 8, 2022, using the provided dial-in numbers.
SmileDirectClub has expanded its oral care product line with the launch of the Pro Whitening System Plus, featuring a Wireless LED Whitening Light. This kit includes two 1-week treatments and promises professional-level results, brightening teeth up to 9 shades in just one week. The product is priced at $90 and is available on the company website, with a launch on Amazon set for mid-February. With over 1.5 million customers served since 2014, SmileDirectClub aims to enhance access to effective oral care solutions.
SmileDirectClub (Nasdaq: SDC) has announced strategic actions aimed at improving its business performance, including cost reductions and focusing investments on profitable markets. The company will pause international expansion and suspend operations in several countries while concentrating on its presence in the U.S., Canada, and select European markets. Estimated cost savings are projected at $120 million for 2022, with one-time reorganization costs around $25 million. Despite these changes, SmileDirectClub has reaffirmed its full-year 2021 revenue guidance of $630 million to $650 million.
SmileDirectClub (Nasdaq: SDC) announced the launch of its Fast-Dissolving Whitening Strips, a new addition to its whitening product line. Designed for convenience, the strips can whiten teeth up to nine shades in just seven days, worn for only 15 minutes daily. Partnering with Peloton star Tunde Oyeneyin, the company aims to promote the transformative effects of a bright smile on self-confidence. The strips are available for purchase online and will soon be in over 4,600 Walmart locations. Prices are set at $30 for a one-week treatment and $45 for two weeks.
SmileDirectClub has launched its new Confidence Council to promote the importance of a healthy smile in boosting self-confidence. With 93% of surveyed individuals affirming that a straight smile enhances confidence, the initiative features ambassadors like Jonathan Van Ness and Tunde Oyeneyin. The Council aims to raise awareness about democratizing access to orthodontic care, having already helped over 1.5 million customers since its inception. A promotion is also offered: a $15 impression kit and six months of free whitening until January 31, 2022, using the code NEWYEAR2022.
Accrue Savings has successfully raised $25 million in a Series A funding round led by Tiger Global, reaching a total funding of nearly $30 million. This new capital will facilitate the expansion of retail partnerships and hiring across multiple departments. Launched in November 2021, Accrue Savings offers a unique shopping experience that rewards consumers for saving, enabling retailers to engage customers at earlier stages of the purchase process. New partners include Smile Direct Club (NASDAQ: SDC) and Casper (NYSE: CSPR).
Kyle Wailes, former CFO of SmileDirectClub (NASDAQ: SDC), has been appointed as the new CEO of Wellvana, effective immediately. This leadership change comes at a pivotal moment for Wellvana, which aims to enhance value-based care and reduce healthcare costs. The company currently manages over 50,000 risk lives across six states and plans to expand further. Wellvana partners with national health insurance companies and the Centers for Medicare & Medicaid to improve healthcare outcomes.
SmileDirectClub (Nasdaq: SDC) announced the resignation of CFO Kyle Wailes, who departs to pursue a CEO role in a healthcare firm. Wailes will assist in transitions until March 1, 2022, while still holding substantial equity in SDC. CEO David Katzman praised Wailes for his significant contributions during critical growth phases, including navigating the pandemic and inflationary challenges. The company is conducting a search for a new CFO through Korn Ferry, seeking a candidate with public company experience.
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