SmileDirectClub shares fall after cyberattack

SmileDirectClub shares fell 6 percent in after-hours trading after the company said a cyberattack in April delayed and disrupted parts of business in a disclosure filing, The Wall Street Journal reported May 4.

The attack, which has since been successfully blocked, could continue to delay certain parts of business including treatment planning, manufacturing and product delivery.

The company estimates $10 million to $15 million in revenue could be lost due to the cyberattack and the associated downtime. That would land the company's second quarter revenue in a range between $195 and $200 million, down from what analysts' prediction of $206.7 million.

For the first-quarter, SmileDirectClub expects to report $199.5 million in revenue and a loss of 25 cents a share, while analysts predicted a $196 million revenue and a loss of 10 cents a share, the Journal reported.

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.