SmileDirectClub (NSDQ:SDC) posted second-quarter results this week that missed the overall consensus on Wall Street.
Nashville, Tenn.-based SmileDirectClub 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¢ behind The Street, where analysts were looking for sales of $198.45 million.
“We have a singular focus on maximizing our global opportunity and extending our leading telehealth platform for orthodontia through a persistent emphasis on customer experience, improving consumer perception around credibility, driving positive sentiment with our Challenger campaign, and investing in innovation,” CEO David Katzman said in a news release.
“The short-term headwinds from residual impacts of the April cyber-attack, the lasting economic effects from COVID on our target demographic and the slower scaling of some of our new international markets due to COVID prevented us from achieving our anticipated second-quarter results. Our planned overinvestment in marketing to relaunch in Germany and Spain later this year, combined with continued execution on expanding customer acquisition channels, in particular the professional channel, should help us drive controlled and profitable growth consistent with our long-term targets,” chief financial officer Kyle Wailes said.
SmileDirect Club said it expects full-year 2020 revenue to range from $750 million to $800 million.
Shares in SDC were down -24.03% to $5.09 apiece at market open.