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 9¢ came in 1¢ behind projections on Wall Street, where analysts were looking for sales of $181.1 million.
“Despite the swift onset of the pandemic and the macro uncertainty throughout 2020, our performance throughout the year was continued validation of the strength of our business model, and the power of the competitive moats around our platform. It also demonstrated our ability to deliver on our continued focus of controlled growth with profitability. We outlined this strategy in Q4 of 2019, and we have been executing against it in the four quarters since,” SmileDirectClub CEO David Katzman said in a news release.
SmileDirectClub said it expects its first-quarter revenue in 2021 to be in-line with long-term targets on a sequential basis, meaning a 5%-7% rise from this past quarter.
SDC shares were down -3.6% at $10.22 per share in pre-market trading today.