SmileDirectClub, Inc. (NASDAQ: SDC) reported its financial results for the quarter ended March 31, 2020, on Wednesday after the market closes. The bottom line was wider than the analysts’ expectations while the top line missed consensus estimates.
SmileDirectClub posted a wider loss in the first quarter of 2020 due to higher costs and expenses. However, the top-line increased by 11% year-over-year driven by an increase in unique aligner shipments and higher average aligner gross sales price.
Due to very few fixed costs and the vast majority of its SmileShops around the world operate on month-to-month leases, the company has been able to take decisive action, including the temporary closure of all SmileShops other than those in Hong Kong. The company has also put in place several cost management measures, including the suspension of most of its marketing spend, to position it to operate cash-neutral during this period.
Also, SmileDirectClub has entered into a new debt facility with HPS Investment Partners. After refinancing the previous debt facility, the company will have about $420 million in cash on its balance sheet, giving the liquidity needed to continue its growth plans and manage potential downsides with COVID-19.
Cloudera Inc. (NYSE: CLDR) reported a narrower loss in the first quarter of 2021 driven by lower costs and expenses as well as higher revenue. The results exceeded analysts' expectations.
CrowdStrike Holdings Inc. (NASDAQ: CRWD) has witnessed strong momentum with the stock gaining over 96% since the beginning of the year. The company delivered strong results for the first quarter
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