SmileDirectClub said on Tuesday it is looking at a “controlled growth” in 2020 after the online dental company posted a bigger-than-expected loss as it spent more to market its teeth aligners. Shares of the company plunged 20% to $9.05 in extended trading. Chief Financial Officer Kyle Wailes on a conference call with analysts said the company’s focus in 2020 will be profitability and it understands the levers it needs to pull to ensure that. The company said it had started rightsizing its production teams and is pushing for more demand for its existing SmileShop network to put it on track for profitability by the fourth quarter of 2020. To boost growth, the company has partnered with larger healthcare companies including CVS Health Corp and Walgreens Boots Alliance Inc and in January launched a suite of oral care products exclusively available at Walmart U.S. stores and Walmart.com.
Read the full article: SmileDirectClub Eyes Controlled Growth and Profitability in 2020 //
Source: https://www.cnbc.com/2020/02/26/smiledirectclub-sdc-earnings-q4-2019.html