RECENT NEWS
SDC (7.12 -7.75%): Missed expectations for Q1 EPS and revs. Q1 unique aligner shipments rose +12% yr/yr to 122,751. During its call, co noted that it shipped 10,500 aligner orders in April and between 11,000-15,000 in May; it projects the current run rate to be circa 22,000 shipments in a 30-day period. Co commented that since Q1, it has seen "robust performance" from its impression kit business despite reductions in marketing spend that amounted to approx. 90% over the past 60 days -- kit and scan volume was down by circa 40% over that span. Downgraded to Underperform from Buy at BofA/Merrill, which sees suppressed advertising spend levels and other overhangs contributing to a slower recovery through the year for co than previously projected.
16-Jun-20 09:39 ET
SDC
SmileDirectClub announces product category leadership for its oral care line (8.03 +0.49)
SmileDirectClub announced today that its new end-to-end oral care system leads category growth in a number of product categories in the consumer marketplace. SmileDirectClub is the top growing brand in the whitening category for 2020 with its product bright on and the power floss category with its water flosser. Additionally, the brand is the second highest growth contributor in the brush category for its electric toothbrush during the same timeframe.
All of SmileDirectClub's oral care products include promotions for clear aligner therapy to remind consumers of the brand's entire suite of offerings.
27-May-20 08:40 ET
WIRES
On The Wires
SmileDirectClub (SDC) has joined Anthem Blue Cross and Blue Shield's (Anthem) and Empire BlueCross BlueShield's (Empire) newly established program, Ortho@Home, a teledentistry orthodontia program designed to provide consumers with convenient, affordable and remote orthodontic care. SmileDirectClub is offering remote dental care and clear aligner therapy to users on Anthem Dental Prime and Complete networks.
18-May-20 16:47 ET
SDC
SmileDirectClub files $2.8 bln lawsuit against NBC for "defamatory" nightly news story (6.76 -0.10)
SDC has filed a lawsuit seeking approximately $2.8 bln from NBC Universal Media and reporter Vicky Nguyen for "knowingly and intentionally making factually inaccurate, misleading and defamatory claims about the company and its platform" on an NBC Nightly News with Lester Holt report.
According to SDC, NBC's February 13, 2020 ‘Nightly News' report contained more than 40 false and misleading statements about SmileDirectClub and the treatment patients receive from the hundreds of board-certified doctors who use the company's platform to treat patients.
SDC claims its reputation was wrongly sullied and its business unjustly harmed as a result of the NBC story according to the suit.
In the wake of NBC's report, and as a direct result of it, SDC's market cap plummeted by $950 million. SmileDirectClub is seeking to recover treble damages pursuant to Tennessee's Consumer Protection Act.
SDC (6.45 +19.67%): Co was issued a patent for its SmileShop intellectual property from the USPTO; the patent, says co, "ensures no clear aligner competitor will be able to duplicate SmileDirectClub's unique model for 18 years." The patent encompasses the SmileShop concept and process. Co also announced that it is making plans to reopen its SmileShops in the US, Canada, Germany, Australia, New Zealand, the UK, and Ireland beginning in May. The stock rises to one-month highs on above 3x average volume.
SDC (7.12 -7.75%): Missed expectations for Q1 EPS and revs. Q1 unique aligner shipments rose +12% yr/yr to 122,751. During its call, co noted that it shipped 10,500 aligner orders in April and between 11,000-15,000 in May; it projects the current run rate to be circa 22,000 shipments in a 30-day period. Co commented that since Q1, it has seen "robust performance" from its impression kit business despite reductions in marketing spend that amounted to approx. 90% over the past 60 days -- kit and scan volume was down by circa 40% over that span. Downgraded to Underperform from Buy at BofA/Merrill, which sees suppressed advertising spend levels and other overhangs contributing to a slower recovery through the year for co than previously projected.
16-Jun-20 09:39 ET
SDC
SmileDirectClub announces product category leadership for its oral care line (8.03 +0.49)
SmileDirectClub announced today that its new end-to-end oral care system leads category growth in a number of product categories in the consumer marketplace. SmileDirectClub is the top growing brand in the whitening category for 2020 with its product bright on and the power floss category with its water flosser. Additionally, the brand is the second highest growth contributor in the brush category for its electric toothbrush during the same timeframe.
All of SmileDirectClub's oral care products include promotions for clear aligner therapy to remind consumers of the brand's entire suite of offerings.
27-May-20 08:40 ET
WIRES
On The Wires
SmileDirectClub (SDC) has joined Anthem Blue Cross and Blue Shield's (Anthem) and Empire BlueCross BlueShield's (Empire) newly established program, Ortho@Home, a teledentistry orthodontia program designed to provide consumers with convenient, affordable and remote orthodontic care. SmileDirectClub is offering remote dental care and clear aligner therapy to users on Anthem Dental Prime and Complete networks.
18-May-20 16:47 ET
SDC
SmileDirectClub files $2.8 bln lawsuit against NBC for "defamatory" nightly news story (6.76 -0.10)
SDC has filed a lawsuit seeking approximately $2.8 bln from NBC Universal Media and reporter Vicky Nguyen for "knowingly and intentionally making factually inaccurate, misleading and defamatory claims about the company and its platform" on an NBC Nightly News with Lester Holt report.
According to SDC, NBC's February 13, 2020 ‘Nightly News' report contained more than 40 false and misleading statements about SmileDirectClub and the treatment patients receive from the hundreds of board-certified doctors who use the company's platform to treat patients.
SDC claims its reputation was wrongly sullied and its business unjustly harmed as a result of the NBC story according to the suit.
In the wake of NBC's report, and as a direct result of it, SDC's market cap plummeted by $950 million. SmileDirectClub is seeking to recover treble damages pursuant to Tennessee's Consumer Protection Act.
SDC (6.45 +19.67%): Co was issued a patent for its SmileShop intellectual property from the USPTO; the patent, says co, "ensures no clear aligner competitor will be able to duplicate SmileDirectClub's unique model for 18 years." The patent encompasses the SmileShop concept and process. Co also announced that it is making plans to reopen its SmileShops in the US, Canada, Germany, Australia, New Zealand, the UK, and Ireland beginning in May. The stock rises to one-month highs on above 3x average volume.