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SmileDirectClub quarterly revenue slumps on delayed…

Aug 12 – Dental products maker SmileDirectClub Inc reported an 82% fall in quarterly revenue on Wednesday, as patients delayed dental procedures due to the COVID-19 pandemic.

The company also reported a one-time charge of about $43 million related to lease abandonment, impairment of long-lived assets.

Net loss attributable to the company was $26.7 million in the second quarter ended June 30, compared with a loss of $32.4 million a year earlier.

Total quarterly revenue fell to $107.07 million from $195.8 million.

(Reporting By Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)

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