SmileDirectClub announced plans for a realignment of its operating programs and global workforce to further hone its focus on its core business and technology-enabled innovation portfolio, and to introduce additional cost savings to the Company’s operating plan in order to enable growth and sustainable positive cash flow. Plan Details By taking these steps to right-size the business, the Company expects to introduce an additional $120 to $140M in savings in 2023 excluding transition costs and place SmileDirectClub on a path to positive cash flow in late 2023. "These actions are the natural next steps in the changes we introduced in 2022 to realign our operations in order to execute against our growth opportunity with efficiency and financial discipline," said David Katzman, Chief Executive Officer of SmileDirectClub. "We are pleased with the progress we’ve made with the introduction of our innovative SmileMaker Platform and the upcoming launch of our CarePlus premium offering, as we design a technology-led product portfolio that continues to give consumers choice, convenience and affordability in oral care."
Published first on TheFly
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