SmileDirectClub (NSDQ:SDC) this week posted first-quarter results that beat the revenue consensus on Wall Street and missed earnings estimates.
The Nashville, Tennessee-based dental aligner maker reported losses of $73.2 million, or -19¢ per share, on sales of $151.6 million for the three months ended March 31, on sales loss of 23.97% compared with Q1 2021.
Earnings per share were 1¢ behind The Street, where analysts were looking for sales of $134.2 million.
“We are off to a good start for 2022 and on plan with the right-sizing of our operating structure and allocating capital to core growth initiatives that can produce the highest return on investment,” CEO David Katzman said in a news release. “These actions have positioned us to further advance our strategic growth initiatives, including oral care, profitable SmileShop expansion, technology and product innovation, and our Partner Network, which are all demonstrating encouraging results. Additionally, we also strengthened our liquidity position with the announcement last month of a new $255 million secured debt facility that gives us financial flexibility to continue making investments in key strategic growth areas of our business. We remain optimistic on our business outlook for 2022 and beyond.”
SmileDirectClub reaffirmed its full-year 2022 guidance and expects total revenue to be in the range of $600 million to $650 million.
Shares in SDC were down 10.6% to $1.35 apiece at market close.