The Nasvhille, Tenn.-based dental aligner maker posted losses of -$94.7 million, or -25¢ per share, on sales of $94.4 million for the three months ended June 30, 2020, for a bottom-line slide from losses of -$32.4 million in the second quarter of 2019 on a sales decline of -49%.
Adjusted to exclude one-time items, earnings per share were -17¢, coming in 3¢ behind the projections from Wall Street analysts.
SmileDirectClub did not offer guidance for fiscal 2020 amid uncertainties caused by the COVID-19 pandemic.
SDC shares were down -14.4% at $7.98 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.6%.