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) reported its Q4 and FY 2020 financial results, showcasing a 10% increase in quarterly revenue to $185 million and a 24% improvement in net loss to $(33) million compared to Q3. Full-year revenue reached $657 million, with a net loss of $(278) million. The company expects Q1 revenue to increase 5-7% sequentially, while guiding for a profitable Adjusted EBITDA, with continued investments in marketing to bolster growth.
SmileDirectClub continues its international expansion with the launch of a new market in the Netherlands, marking its twelfth market entry. This move enhances its presence in Europe, where the company aims to tap into a significant market for affordable telehealth solutions in orthodontics. The first SmileShop in the Netherlands will open in March in Amsterdam, allowing customers to access clear aligner therapy through a telehealth platform. Since its inception in 2014, SmileDirectClub has grown rapidly, serving over a million customers worldwide.
SmileDirectClub has expanded its Partner Network by partnering with National Dental, a dental service organization based in New York City. This collaboration allows National Dental's patients to start their SmileDirectClub treatment directly at their offices, enhancing accessibility to clear aligner therapy.
The Partner Network, launched in January 2020, now includes over 1,000 partner locations across the U.S., promoting affordable teeth straightening solutions. Since its inception in 2014, SmileDirectClub has served over one million customers.
SmileDirectClub has expanded its whitening line with the new Pro Whitening System, now available in over 3,600 Walmart stores and on its website. This innovative system whitens teeth up to 9 shades in one week using three easy steps: ProActivate toothpaste, ProBrighten gel, and ProLong extender gel. The system aims to meet consumer demand for quicker and effective results, furthering SmileDirectClub's mission to provide affordable oral care. This launch continues to position the company as a leader in the telehealth orthodontics market.
SmileDirectClub, Inc. (Nasdaq: SDC) is expanding its presence in the oral care market by partnering with Walgreens to distribute its products in nearly 1,700 Walgreens locations and online. This partnership will enhance SmileDirectClub's footprint to over 10,000 retail stores nationwide.
Since entering the oral care segment in 2020, the company reports that its bright on™ whitening gel is now the top-selling whitening product in the U.S., contributing significantly to the revitalization of the whitening market.
SmileDirectClub, a leader in oral care, will release its fourth quarter and full year 2020 results on March 4, 2021, after market close. A conference call hosted by CEO David Katzman and CFO Kyle Wailes will be held at 4:30 p.m. Eastern Time. Investors can join via dial-in or through a live webcast on the company's IR page. The call will be available for replay until March 18, 2021. SmileDirectClub aims to democratize access to teeth straightening through innovative telehealth technology.
SmileDirectClub (SDC) announced the pricing of its convertible senior notes offering, now totaling $650 million, increased from an earlier $350 million. The notes, maturing in February 2026, will not bear interest and are convertible into shares of Class A common stock. The initial conversion price is set at $18.06 per share, a 40% premium over the recent trading price of $12.90. Proceeds are expected to be used for corporate purposes, including debt repayment, with approximately $630 million estimated net proceeds.
SmileDirectClub (NASDAQ: SDC) announced a private offering of convertible senior notes totaling $350 million, with an additional $52.5 million option for purchasers. These notes, due in 2026, are senior, unsecured, and accrue interest payable semi-annually. The offering aims to finance capped call transactions and general corporate purposes, including repaying credit facilities. The firm's actions could influence its Class A common stock price and potential dilution upon conversion of the notes, emphasizing the importance of market conditions and interest rates.
SmileDirectClub (Nasdaq: SDC) has partnered with Green Shield Canada, becoming the first insurance provider in Canada to offer in-network coverage for its premium clear aligner therapy. This collaboration enhances access to cost-effective orthodontic care for millions under Green Shield's dental plans. The partnership is a significant milestone for teledentistry in Canada, as the acceptance of telehealth continues to grow. Customers can begin their treatment through 3D scans or remote impression kits, with Canadian-licensed dentists overseeing the process remotely.
SmileDirectClub (Nasdaq: SDC) has introduced its second-generation aligners featuring Comfort Sense™ technology. This innovation is aimed at enhancing treatment comfort and predictability for patients. The aligners use patented laser technology for precision-cutting and feature graduated thicknesses to facilitate a smoother treatment process. All aligners are made from BPA-free materials and designed for optimal aesthetics. SmileDirectClub continues to lead in telehealth orthodontics, having served over one million customers since its U.S. launch in 2014.
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