The Nashville, Tenn.-based company reported losses of -$387.6 million, or -89¢ per share, on sales of $180.2 million for the three months ended Sept. 30, 2019, for a bottom-line gain of 2484% sales growth of 50.5% compared with Q3 2018.
Adjusted to exclude one-time items, earnings per share were -89¢, 10¢ ahead of The Street, where analysts were looking for sales of $165.3 million.
“Q3 was a good quarter. We were able to demonstrate our ability to execute. We have an incredible team, the best I have ever worked with. Overall, our business is better positioned than ever to capitalize on the massive market opportunity in front of us, and we look forward to demonstrating that in the quarters to come,” chairman and CEO David Katzman said.
The company expects revenue for fiscal year 2019 to be in the range of $750 million to $755 million.
SDC shares were down -16% to $9.31 apiece in early morning trading.