SmileDirectClub (Nasdaq:SDC) announced that it initiated a process to implement a recapitalization transaction. The move includes voluntarily filing for protection under Chapter 11 of the U.S. Bankruptcy Code. The Nashville, Tennessee–based maker of clear teeth aligners filed in the U.S. Bankruptcy Court for the Southern District of Texas. SmileDirectClub says it intends for the recapitalization […]
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SmileDirectClub to appeal order to pay Align Technology $63M
SmileDirectClub (Nasdaq:SDC) intends to appeal an arbitration decision ordering it to pay $63 million to Align Technology (Nasdaq:ALGN). Align Technology announced this week that the Superior Court, State of California, County of Santa Clara, issued an order granting a petition from Align. It confirmed and denied SmileDirectClub’s petition to vacate the $63 million arbitration award […]
SmileDirectClub shares slide on mixed-bag Q1 results
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. […]
SmileDirectClub CFO stepping down
SmileDirectClub (NSDQ:SDC) this week announced that chief financial officer Kyle Wailes has resigned to pursue a CEO position at a healthcare company. Wailes will remain in his role through March 1, 2022, to support the transition of responsibilities. He will continue to own a significant amount of equity in the clear teeth aligner company. “On behalf […]
SmileDirectClub plummets on missed Q2 projections
SmileDirectClub (NSDQ:SDC) posted second-quarter results this week that missed the overall consensus on Wall Street. Nashville, Tenn.-based teledentistry company reported losses of -$55.3 million, or -14¢ per share, on sales of $162.6 million for the three months ended June 30, for a sales growth of 72.22% compared to Q2 2020. Earnings per share were -14¢, 4¢ […]
SmileDirectClub slides on mixed bag Q1
SmileDirectClub (NSDQ:SDC) shares dipped today on first-quarter results that were mixed compared to the consensus forecast. The Nashville, Tenn.-based dental technology company posted losses of $29.9 million, or -25¢ per share, on sales of $188.8 million for the three months ended March 31, 2021, for a -2.3% bottom-line slide on sales growth of 2.6%. Adjusted […]
SmileDirectClub dips on missed Q4 projections
SmileDirectClub (NSDQ:SDC) shares dipped during pre-market trading today on fourth-quarter results that missed the consensus forecast. The Nashville, Tenn.-based company posted losses of -$32.9 million, or -9¢ per share, on sales of $172.6 million for the three months ended Dec. 31, 2020, for a 66.1% bottom-line gain on a sales decline of -6.2%. SmileDirectClub’s EPS of […]
SmileDirectClub prices $650M offering
SmileDirectClub (NSDQ:SDC) announced last week that it priced an offering of convertible senior notes worth $650 million. Nashville, Tenn.-based SmileDirectClub is offering $650 million in aggregate principal amount of 0% convertible senior notes due in 2026, according to a news release. The company increased the offering size from the previously announced $350 million with the intention […]
SmileDirectClub beats The Street in Q3
SmileDirectClub (NSDQ:SDC) shares dipped before hours today on third-quarter results that beat the consensus forecast. The Nashville, Tenn.-based dental aligner maker posted losses of -$44.5 million, or -11¢ per share, on sales of $156.5 million for the three months ended Sept. 30, 2020, for an 88.8% bottom-line gain on a sales decline of -7.2%. Adjusted to […]
SmileDirectClub sinks on Q2 misses
SmileDirectClub (NSDQ:SDC) shares took a big hit today on second-quarter results that came in behind the consensus earnings forecast. 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 […]
Medtech 100 roundup: Stocks dip slightly after strong start to month
Medtech stocks ticked down over the course of last week as the COVID-19 pandemic continues to bear economic ramifications. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 82.4 points at the end of last week (May 15). That total represents a -1.9% decline from the 83.98-point […]
