SmileDirectClub Inc (NASDAQ:SDC) shares are trading lower by 15.81% at $1.27 after the company reported worse-than-expected first-quarter EPS results.
SmileDirectClub reported quarterly losses of 19 cents per share which missed the analyst consensus estimate of a loss of 16 cents. The company reported quarterly sales of $152.00 million which beat the analyst consensus estimate of $134.22 million by 13%. This sales figure represents a 19% decrease over sales of $188.80 million in the same period last year.
SmileDirectClub provided the following key operating metrics and strategic highlights in the company’s earnings release:
- First-quarter unique aligner shipments of 76,254, a 15.3% sequential increase over 66,133 shipments in the fourth quarter of 2021.
- First-quarter average aligner gross sales price of $1,890 compared to $1,899 for the fourth quarter of 2021.
- On April 27, 2022, completed a new $255 million secured debt facility, strengthening the Company's liquidity with greater flexibility to fuel its continued operations and growth plans.
See Also: Why Plug Power Stock Is Trading Lower
SmileDirectClub is engaged in the orthodontics business. It is mainly involved in the sale of aligners, impression kits, whitening gel and retainers.
According to data from Benzinga Pro, SmileDirectClub has a 52-week high of $11.02 and a 52-week low of $1.29.
