SmileDirectClub, Inc. - SDC STOCK NEWS

SmileDirectClub (Nasdaq: SDC) announces that CFO Kyle Wailes will present at the Shareholder Equity Conference on September 27, 2021, at 4:30 p.m. ET. This virtual conference features a fireside chat format, allowing retail investors to ask questions. Attendees can access the live stream through the 'Events and Presentations' section on the SmileDirectClub investor website. An archived replay will be available for 90 days post-event. SmileDirectClub aims to revolutionize oral care with its medtech platform, providing affordable teeth straightening solutions globally.

SmileDirectClub (Nasdaq: SDC) announced its entry into the French market, planning to launch its first SmileShop in Paris in Q4 2021. This expansion marks its seventh European country and aims to offer premium clear aligners and a telehealth platform at a cost 60% less than traditional braces. CEO David Katzman highlighted the opportunity to address the high demand for teeth straightening solutions, with 80% of French consumers indicating potential improvement in their teeth alignment. The company has served over 1.5 million customers globally.

SmileDirectClub has announced a partnership with the International Rescue Committee (IRC) to provide oral hygiene essentials to Afghan refugees in the U.S. Over the next year, the company will donate 20,000 toothbrushes and toothpaste as part of its ongoing humanitarian effort. SmileDirectClub aims to support approximately 64,000 displaced individuals to ensure they have essential oral health products. This initiative reflects the company's mission to provide accessible oral care solutions.

SmileDirectClub reported second quarter 2021 results with total revenue of $174 million, a 62.7% increase year-over-year. The net loss improved to $(55) million, a 41.6% reduction from the previous year. Adjusted EBITDA was $(22) million, slightly declining by $2 million. The diluted EPS showed a 44.0% year-over-year improvement at $(0.14). The company aims for total full-year revenue between $750 million and $800 million, despite encountering short-term challenges from macroeconomic factors and a recent cyber-attack.

On August 3, 2021, a shooting incident occurred at SmileDirectClub’s Antioch, Tennessee manufacturing facility, resulting in injuries to two security guards and a Team Member. The shooter was apprehended by Metro Nashville Police. The injured Team Member has been treated and released, while the security guards are receiving care. SmileDirectClub expressed shock and sadness over the event and emphasized the importance of Team Member safety, announcing heightened security measures at the facility. The company continues to assist in the investigation.

SmileDirectClub Wins Legal Battle

The U.S. Court of Appeals for the 11th Circuit has ruled in favor of SmileDirectClub, Inc. (Nasdaq: SDC), dismissing an appeal by the Alabama Board of Dentistry aimed at shielding itself from antitrust liability. This decision, referencing a similar case against Georgia's dental board, reinforces SmileDirectClub's mission of democratizing access to affordable oral care. The company, utilizing a telehealth platform, aims to offer effective teeth straightening solutions without high costs. The ruling highlights the ongoing support from the FTC and DOJ for SmileDirectClub's business model.

SmileDirectClub has partnered with the non-profit Women in DSO as a founding industry partner to promote diversity and inclusion within the dental industry. The initiative aims to empower women leaders and enhance networking, mentorship, and education opportunities in the sector. Chief Legal Officer Susan Greenspon Rammelt will serve on the board, emphasizing the company's commitment to supporting women's roles in dentistry. Since its launch in 2014, SmileDirectClub has served over one million customers globally, leveraging its innovative medtech platform for affordable teeth straightening solutions.

SmileDirectClub has achieved a legal victory as the U.S. Court of Appeals for the Eleventh Circuit dismissed the Georgia Board of Dentistry's interlocutory appeal, allowing the company's lawsuit for antitrust liability to proceed. This decision, along with support from the FTC and DOJ, empowers SmileDirectClub to challenge perceived anticompetitive actions by dental boards. Chief Legal Officer Susan Greenspon Rammelt emphasized the company's commitment to democratizing access to dental care.

SmileDirectClub (Nasdaq: SDC) will announce its second quarter 2021 earnings on August 9, 2021, after market close. The call will be hosted by key executives, including CEO David Katzman and CFO Kyle Wailes, at 4:30 p.m. ET. Investors can join the conference by dialing 1-877-407-9208 (domestic) or 1-201-493-6784 (international). A replay will be available from 7:30 p.m. ET on August 9 until 11:59 p.m. ET on August 23 via provided numbers. For more information, visit the company’s Investor Relations page.