smiledirectclub

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. Nashville, Tennessee-based SmileDirectClub filed in the U.S. Bankruptcy Court for the Southern District of Texas.

SmileDirectClub says it intends for the recapitalization to bolster its balance sheet and fuel growth initiatives. With additional capital and a stronger financial position gained, the company expects the move to help it “thrive as an international oral care leader for many years to come.”

The company’s founders committed to invest at least $20 million to bolster its balance sheet and protect its financial health. SmileDirectClub expects to have up to $60 million in additional capital available upon the satisfaction of certain conditions.

During the restructuring process, the company expects to provide its denta…

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, …

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 som…

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 to exclude one-time items, losses per share were -12¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $199.5 million.

“The first quarter represents continued traction against our long-term targets as we execute against our controlled growth plan,” SmileDirectClub CEO & chairman David Katzman said in a news release. “We are especially pleased to see consumer sentiment gaining positive momentum as we remain laser-focused on the delivery of a world-class club member experience.”

In light of a cyber attack that took place in April and caused system outages…

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 …

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 of settling the issuance and sale of the notes on Feb. 9, 2021, subject to customary closing conditions.

In addition to the previously mentioned notes, SmileDirectClub granted the initial purchasers an option to purchase up to another $97.5 million in notes for a settlement period of 13 days from and including the date notes are first issued. The notes will mature on Feb. 1, 2026, unless earlier repurchased, redeemed or converted.

SmileDirectClub estimates that it will collect approximately $630 million in net proceeds, or approximately $725 million if the initial…

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 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.

“Our performance in the quarter, and more importantly since the quarter, reflects the strength of our teledentistry platform, along with the flexibility and agility of our business model; both in the context of our COVID-19 recovery efforts, and our traction towards our long-term growth and margin targets,” SmileDirectClub CEO David Katzman said in a news release.

SmileDirectClub did not offer guidance for fiscal 2020 ami…