SmileDirectClub reports Q2 EPS (13c), consensus (11c)

Reports Q2 revenue $101.80M , consensus $101.91M. Reports Q2 Second quarter unique aligner shipments of 46,774, a 21.6% sequential decrease over 59,645 shipments in the first quarter of 2023, in line with historical first quarter to second quarter seasonal trends.We are pleased to announce our fourth straight quarter of year-over-year adjusted EBITDA improvement and fifth straight quarter of improved year-over-year free cash flow financial results,” said David Katzman, Chief Executive Officer and Chairman of SmileDirectClub. “Despite the continuing macroeconomic challenges, we have maintained cost control discipline to deliver stronger bottom-line results on challenging revenue trends. We remain on track to achieving EBITDA profitability in the third quarter and positive cash flow run rates by the end of the year.” Katzman added, “I’m also happy to share that in late May, we launched our innovative AI-powered SmileMaker Platform mobile scanning app for 3D treatment planning in the U.S. Additionally, CarePlus, our premium hybrid in-person and remote aligner product, will be available in all of our U.S. SmileShop locations and select Partner Network offices by the end of August. Customers at our SmileShops will have the option to select SmileDirectClub’s original telehealth-powered Care aligners or choose the premium CarePlus option, which includes access to a local dentist or orthodontist for in-person check-ins, a dedicated 24/7 Concierge customer care team, expedited aligner shipping and the enhanced comfort of scalloped-edge aligners and retainers.”