U.S. Markets closed

SmileDirectClub Reports Q1 Earnings Miss, Aligner Shipments Up 12%

Tanzeel Akhtar

SmileDirectClub (NASDAQ: SDC) reported quarterly losses of 28 cents per share on Wednesday, which missed the analyst consensus estimate by 9 cents.

The company reported quarterly sales of $196.65 million, which missed the analyst consensus estimate of $219.52 million by 10.42%.

SmileDirectClub reports first-quarter unique aligner shipments up 12% to 122,751, compared to 109,894 in the first-quarter of 2019.

"Despite these challenging times and a unique and complex operating environment, the SmileDirectClub team has navigated through the initial obstacles of the global pandemic by implementing changes to how we operate our business,” SmileDirectClub CEO David Katzman said in a statement. “We leveraged our teledentistry platform, along with our completely remote kit business, to continue to serve our Club Members during these challenging times."

View more earnings on SDC

SmileDirectClub shares closed Wednesday at $7.72, down 4.5%. The stock has a 52-week high of $21.10 and a 52-week low of $3.64.

Related Links:

SmileDirectClub's Stock Surges On Patent Win

SmileDirectClub Expands Walmart Partnership To Canada

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.