SmileDirectClub Inc SDC shares are trading higher by 7.06% to $0.77 during Monday’s after-hours session after the company reported better-than-expected third-quarter financial results.
SDC reported quarterly losses of 18 cents per share which beat the analyst consensus estimate of a loss of 21 cents.
The company also reported quarterly sales of $106.77 million which beat the analyst consensus estimate of $98.54 million by 8%. This is a 22% decrease over sales of $137.68 million in the same period last year.
SmileDirectClub sees FY22 total revenue as low as $470 million or as high as $500 million, versus the analyst consensus estimate of $473.39 million.
“Our team delivered both revenue and bottom-line results that are on track with our updated outlook provided on our second quarter call. We are raising our full year 2022 midpoint guidance for revenue and adjusted EBITDA based on better traction with customers driven by improving marketing efficiencies. Our disciplined cost management enabled us to produce improved year-over-year bottom line results despite top line headwinds,” said David Katzman, CEO and Chairman of SmileDirectClub.
According to data from Benzinga Pro, SDC has a 52-week high of $5.56 and a 52-week low of $0.62.