By Sam Boughedda
Investing.com — SmileDirectClub Inc (NASDAQ:SDC) announced earnings per share of 23 cents on revenue of $137.7 million. Analysts polled by Investing.com anticipated EPS of 14 cents on revenue of $182.51 million.
SmileDirectClub shares have plunged 19% to $4.24 after hours in reaction to the report.
David Katzman, CEO and Chairman of SmileDirectClub, said the company was disappointed with the third-quarter results, which were impacted by "macroeconomic headwinds" influencing the spending of its core demographic.
“While we could not have anticipated the rapidly evolving nature of this impact on our consumer, we have responded quickly to focus our marketing on helping support them during this time, while we also move upstream with higher income demographics through the Challenger Campaign and investments in our Dental Partner Network. We remain incredibly optimistic and believe that we are well positioned to continue to capture the global opportunity in the rapidly expanding market for clear aligners,” added Katzman.
The company sees Q4 revenue between $120 million and $140 million, well below the $201.75 million consensus. Meanwhile, full-year 2021 revenue is expected to be between $630 million to $650 million.
SmileDirectClub did note that its business can be highly changeable on a month-to-month or quarter-to-quarter basis.