SmileDirectClub Inc (NASDAQ:SDC) is down 7.5% in a week after announcing Q2 2021 financial results, in which total revenue was up 62.7% YoY to $174 million. The company posted a net loss of $55 million, a 41.6% YoY improvement, and a diluted EPS improvement of 44% to $0.14 YoY.
During the quarter, the company reported 90,006 unique aligner shipments with an Average aligned gross sales price of $1,885 compared to $1,817 in Q2 2020. CEO David Katzman said that they have a singular focus on optimizing opportunities and expanding its telehealth offering for orthodontia vial emphasis on customer experience, driving positive Challenger vamping sentiment and innovation investments.
CFO Kyle Walies said that the lasting impact of COVID-19 on the company’s target demographic, near-term headwinds, from the effects of the April Cyber-attack, and slow scaling in some new international markets because of the pandemic prevented the company from achieving projected Q2 results. However, the company plans to re-launch later this year in Spain and Germany. Therefore SDC is worth watching in months to come.
Market Reaction:
On Tuesday, SDC stock fell 1.23% at $4.81 with more than 5.35 million shares, compared to its average volume of 6.51 million shares. The stock has moved within a range of $4.6400 – 4.9700 after opening the trade at $4.75.
