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SmileDirectClub revenue beats expectations in first earnings report since IPO

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SmileDirectClub reports first earnings since IPO

Revenue: $180.2 million vs. $165.4 million as forecast by Refinitiv consensus estimates

Given inconsistencies with outstanding share counts for a recently public company's first quarterly report, CNBC does not compare earnings per share figures with EPS consensus estimates. SmileDirectClub reported a third-quarter net loss of $387.6 million, or a loss of 89 cents per share. That includes a $299.3 million loss from SmileDirectClub's non-controlling interest in SDC financial. The company posted a net loss of $14.95 million in the year-ago quarter."Post-IPO, our team is laser focused on execution," SmileDirectClub Chief Financial Officer Kyle Wailes said in a statement.

The start-up, founded in 2014, sells teeth aligners directly to consumers on its website and in its "SmileShops" starting at $1,895 for a two-year plan. Founders Fenkell and Jordan Katzman say they want to disrupt the orthodontics industry with less expensive teeth-straightening treatments, convenience, and splashy television and social media advertisements.

 

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