SmileDirectClub, Inc. Stock Price, News & Analysis

SmileDirectClub (Nasdaq: SDC) has announced the addition of seven experts in dentistry and orthodontia to its Clinical Advisory Board, with Senator Bill Frist serving as Honorary Chair. This expansion aims to enhance the company’s strategic direction in teledentistry and clinical outcomes. The board will guide recommended clinical protocols and oversee further research on the efficacy of teledentistry. CEO David Katzman emphasized the importance of these experts in achieving affordable and quality oral care access, reinforcing SmileDirectClub's position in the industry.

SmileDirectClub (NASDAQ: SDC) reported a 11% increase in total revenue for Q1 2020, reaching $197 million compared to Q1 2019. However, the company faced a net loss of $107 million and an Adjusted EBITDA of $(67 million), with a diluted EPS of $(0.28). Unique aligner shipments grew 12% to 122,751 units. Despite the pandemic, the business adapted by leveraging its teledentistry platform and significantly reducing marketing spend, while entering a new debt facility to ensure liquidity.

SmileDirectClub (Nasdaq: SDC) announced management participation in upcoming virtual conferences. Notable events include:

• J.P. Morgan Virtual Conference: May 12-14, 2020, with a presentation on May 14 at 10:10 AM ET.
• Stifel Virtual Jaws & Paws Conference: May 27, 2020, at 3:00 PM ET.
• William Blair Annual Growth Stock Conference: June 9-11, 2020, with a presentation on June 10 at 3:00 PM ET.

Webcasts will be available live and for replay on the company's investor relations website.

SmileDirectClub has appointed Chris Thompson as Vice President of Sales for the Professional Channel, aimed at expanding the company's Office Direct program. This initiative allows dentists and orthodontists to offer clear aligner therapy in their offices, utilizing SmileDirectClub's telehealth platform. Since its launch in January 2020, the program has attracted participants from 21 states. Thompson's experience includes leadership roles at Carbon and Align Technology, which is expected to enhance growth in the dental community. The company also continues to support dental practices during COVID-19.

SmileDirectClub (SDC) has announced the sale of its at-home impression kits to dentists and orthodontists to enhance remote oral care amid the COVID-19 pandemic. These prescription-only kits, designed for making mouth molds, allow dental providers to evaluate patients without office visits. The company also offers its telehealth platform free of charge to dental professionals in the U.S. and Canada. This initiative aims to aid the dental community while ensuring patient safety during ongoing health concerns.

SmileDirectClub (SDC) has expanded access to affordable orthodontic care through partnerships with major insurers UnitedHealthCare, Aetna, and Anthem Blue Cross, effective May 2020. This initiative enhances in-network options for dentists and orthodontists, facilitating remote care solutions. CEO David Katzman emphasized the growing demand for telehealth in dental care, presenting a cost-effective way for consumers to improve their smiles. Since its inception in 2014, SDC has served over one million customers worldwide and recently launched a comprehensive oral care system available at Walmart and online.