SDC - SmileDirectClub extends losses as analysts weigh in on cybersecurity incident

Announcing preliminary revenue estimates yesterday, SmileDirectClub ([[SDC]] -19.5%) said that its quarterly revenue could reach $199.5M for Q1 2021 slightly ahead of the expectations.With a ~1.4% YoY growth projected, the Q1 2021 is the ‘first quarter of year-over-year revenue growth since the start of the pandemic,’ the company said in the regulatory filing.However, the shares sank in the post-market trading after the company revealed a systems outage caused by a cybersecurity incident on April 14, 2021.Following a series of actions taken by the company to address the issue, it ‘was able to successfully block the attack, no ransom was paid, and the Company’s systems and operations are back online and performing normally,’ it further added.Estimating a $10 - $15M revenue impact as a result in Q2 2021, SmileDirectClub now anticipates its revenue for the ongoing quarter to be $195 – 200M compared to $205.6M per the consensus.Today, the company shares

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SmileDirectClub extends losses as analysts weigh in on cybersecurity incident