Smile Direct Club Inc (SDCCQ)

[lecorb]

UPDATE: SmileDirectClub narrows Q3 loss, sees 'broader acceptance' of teledentistry
Today 4:33 PM ET (MarketWatch)
By Claudia Assis

mileDirectClub Inc. shares rose 2% in the extended session Monday after the teledentistry company reported a narrower-than-expected quarterly loss and sales that were above Wall Street's expectations.

SmileDirectClub (SDC) said it lost $43 million, or 11 cents a share, in the third quarter, compared with losses of $388 million, or 89 cents a share, in the year-ago quarter.

Revenue rose to $169 million from $157 million a year ago.

Analysts polled by FactSet had expected the company to report a loss of 17 cents a share on sales of $146 million.

SmileDirectClub, which makes lower-cost teeth-straightening retainers, said it remains focused "on providing the best club-member experience, while driving controlled and profitable growth."

"The company expects to continue to see favorable industry dynamics with broader acceptance of telehealth and specifically teledentistry," and has no "real competitor," it said in a statement that did not specifically address the effects of the pandemic.

After-hours gains moderated after the report. Shares of SmileDirectClub have gained 14% this year, compared with gains around 12% for the S&P 500 index.

-Claudia Assis; 415-439-6400; [e-mail]

(END) Dow Jones Newswires

November 16, 2020 16:33 ET (21:33 GMT)

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