SmileDirectClub Inc. (SDC) shares declined 23.24% in after-hours on Monday, November 08, 2021, and closed the daily trading at $4.03. Earlier in the regular trading session, SDC’s stock remained unchanged. SDC shares have fallen 48.02% over the last 12 months, and they have moved down 2.42% in the past week. Over the past three months, the stock has gained 3.35%, while over the past six months, it has lost 35.86%.

Let’s have a brief look at its recent news.

SDC latest announcement

On November 08, 2021, SmileDirectClub, Inc. (SDC) announced its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

• SDC reported total revenue of $138 million for Q3 2021 compared to $168.5 million in Q3 2020.
• The cost of revenue was $39.4 million in Q3 2021 compared to $49.76 million in Q3 2020.
• It earned a gross profit of $98.27 million compared to $118.74 million in Q3 2020.
• It suffered a net loss of $89 million in Q3 2021 compared to a net loss of $43.48 million in Q3 2020.
• Adjusted EBITDA was $54 million in Q3 2021 compared to $3.02 million in Q3 2020.

Q4 and FY 2021 financial outlook

• For FY 2021, the Company expects total revenue to be in the range of $630 million to $650 million.
• Q4 revenue is expected to be in the range of $120 million to $140 million.

SDC Expanded Oral Care Line

On October 25, 2021, SmileDirectClub, Inc. announced the addition of two new water flossers to help customers maintain a healthy smile wherever they go. The new Large Tank and Compact Water Flossers are more effective than string floss.

Large Tank Water Flosser is 50% more effective than string floss because of its new innovative design. Compact Water Flosser is compact but surprisingly it has a big water reservoir. The Compact flosser removes 99% of plaque between teeth and below the gumline.

SDC partnership with Comedian Heather McMahan

On September 30, 2021, SmileDirectClub launched a social media kindness chain, prompting followers to inspire smiles by sharing random acts of kindness during World Smile Week. SDC partnered with comedian Heather McMahan to kick off this social media kindness chain, which will reward selected participants with our award-winning smile care products and free aligner treatment.

SDC welcome FTC actions

On September 29, 2021, SmileDirectClub, Inc. (SDC), applaud the Federal Trade Commission (FTC) for its actions to combat anti-competitive conduct in Alabama. According to the proposed Consent Order, the Alabama Board of Dental Examiners can no longer impede clear aligner platforms, or dental professionals affiliated with them, from providing clear aligner therapy through remote treatment, protecting consumer choice and access to care against the exclusionary attempts of a market participant-driven board.

Conclusion

The recent financial results missed the revenue estimates and the company reported a loss due to which its stock went down in the after-hours on Monday. It can continue to decline on Tuesday as well.