SDC - Why SmileDirectClub Tanked by 11% on Tuesday
In its first-quarter results published after market hours last night, SmileDirectClub (NASDAQ: SDC) didn't miss bottom-line estimates by much. But the market wasn't in a forgiving mood on Tuesday, apparently, with investors pushing the company's share price down by nearly 11%.
For the quarter, SmileDirectClub posted total revenue of $152 million, which was a chunky (20%) improvement over the same period of 2021. The company's non- GAAP (adjusted) net loss narrowed, meanwhile, coming in at just under $22.6 million ($0.19 per share) versus the year-ago quarter's $28.9 million shortfall.
Image source: SmileDirectClub.
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Why SmileDirectClub Tanked by 11% on Tuesday