Digital healthcare firm SmileDirectClub Inc. (NASDAQ: SDC) reported a narrower net loss for the first quarter of 2021 amid modest revenue growth. While the bottom-line missed Wall Sreet’s prediction, revenues beat.
The Nashville, Tennessee-based teledentistry company reported a net loss of $28.9 million or $0.25 per share for the March quarter, which marked an improvement from the year-ago period when it incurred a loss of $29.3 million or $0.28 per share. Analysts were looking for a narrower loss for the latest quarter.
At $199.5 million, first-quarter revenues were up 1% from the comparable period of 2020 and slightly above experts’ projection.
Read management’s comments on SmileDirectClub’s Q1 earnings
The company’s shares have lost about 31% since the beginning of the year. They dropped during Monday’s extended trading after ending the regular session lower.