SmileDirectClub stock drops after cyberattack, pandemic ding results

1 month ago 12
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SmileDirectClub Inc. shares dropped successful the extended league Monday aft the teledentistry company’s quarterly results and outlook came successful worse than expected pursuing an April cyberattack and the prolonged effects of COVID-19 connected its lawsuit base.

SmileDirectClub SDC, -1.90% shares fell 15% aft hours, pursuing a 1.9% diminution successful the regular league to adjacent astatine $6.70.

The institution reported a second-quarter nonaccomplishment of $16.9 million, oregon 14 cents a share, compared with a nonaccomplishment of $26.8 million, oregon 25 cents a share, successful the year-ago period.

Revenue roseate to $162.6 cardinal from $94.4 cardinal successful the year-ago quarter.

Analysts surveyed by FactSet had forecast a nonaccomplishment of 9 cents a stock connected gross of $198.5 million. Back successful May, the company disclosed it had been the unfortunate of a cyberattack and that the incidental would measurement upon revenue.

“The short-term headwinds from residual impacts of the April cyber-attack, the lasting economical effects from COVID connected our people demographic and the slower scaling of immoderate of our caller planetary markets owed to COVID prevented america from achieving our anticipated second-quarter results,” said Kyle Wailes, SmileDirectClub main fiscal officer, successful a statement.

SmileDirectClub forecast gross of $750 cardinal to $800 cardinal for the year, portion analysts expect $833.5 million.

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