Align Technology, Inc. (NASDAQ:ALGN) Q1 2022 Earnings Conference Call April 27, 2022 4:30 PM ET Company Participants Shirley Stacy - Vice President, Corporate Communications & Investor Relations Joe Hogan - President & Chief Executive Officer John Morici - Chief Financial Officer Conference Call Participants Jason Bednar - Piper Sandler Jeff Johnson - Baird Jonathan Block - Stifel Erin Wright - Morgan Stanley Kevin Caliendo - UBS Michael Ryskin - Bank of America Nathan Rich - Goldman Sachs Elizabeth Ander ...

Revenue and Market Share - Clear Aligner net revenues represented approximately 82% of worldwide net revenues, while Systems and Services net revenues represented the remaining 18% for the year ended December 31, 2021[11] - Over 12 million people worldwide have been treated with the Invisalign system[12] - Over 68,000 iTero scanners have been sold globally[13] - More than 85% of Invisalign system case submissions are now submitted via digital scan, increasing treatment accuracy and reducing time from prescription submission to patient receipt[16] - Approximately 60% to 75% of the global population is affected by malocclusion, with 21 million people globally electing orthodontic treatment annually[14] Product Offerings and Innovations - The Invisalign system offers a range of treatment options, including Invisalign Express, Lite, Go, Go Plus, Moderate, and Comprehensive packages, designed for varying levels of malocclusion severity[22][24][26] - Invisalign G8 with SmartForce Activation, released in early 2021, is designed to optimize tooth movements and improve predictability for frequently treated cases[27] - New Invisalign system innovations released in early 2022, including ClinCheck Live Update, Invisalign Practice App, Invisalign Personalized Plan, and Invisalign Smile Architect[29] - SmartTrack clear aligner material maintains more constant force over time, improving control of tooth movement[33] - iTero Element 5D imaging system aids in detection and monitoring of interproximal caries lesions with 66% more sensitivity than bitewing x-ray radiography[47] - Invisalign Outcome Simulator and Invisalign Progress Assessment tool enhance patient visualization and treatment progress assessment[41] Sales and Distribution - The Invisalign system is primarily sold through a dedicated and specialized sales force, with additional sales through agents, distributors, and directly to Dental Support Organizations (DSOs)[11] - The company has over 200 exocad strategic distribution partners and over 47,000 software licenses installed worldwide[13] - The company expects continued expansion of international markets and growth, particularly in China, where consumer demand for U.S.-based products and services is strong[1] - International expansion in 2021 saw a 21% increase in international doctors trained to prescribe Invisalign treatment, with operations in over 100 countries[46] - New manufacturing facility in Wroclaw, Poland expected to begin serving doctors in the first half of 2022, enhancing EMEA customer service[51] - iTero Element 5D imaging system available in the U.S., Canada, China, and majority of EMEA and select APAC and LATAM countries[36] Manufacturing and Technology - The company has developed proprietary manufacturing technologies including complex software algorithms, CT scanning, stereolithography, and automated aligner fabrication to enhance production efficiency[54] - The company relies on single-source suppliers for critical components such as CT scanning equipment, stereolithography machines, and raw materials like resin and polymers[55] - Digital treatment planning and interpretation facilities located worldwide, including Costa Rica, China, Germany, Spain, Poland, and Japan[52] - Quality system compliance with FDA regulations and ISO 13485:2016 certification, ensuring high levels of product and service quality[53] Workforce and Employee Development - As of December 31, 2021, the company had approximately 22,540 employees, a 25% increase from 2020 and a 55% increase from 2019[74] - The company’s workforce includes 14,200 in manufacturing and operations, 4,600 in sales and marketing, 1,375 in R&D, and 2,365 in general and administrative roles[74] - The company has approximately 22,540 employees, reflecting a diverse workforce across more than 40 countries[77] - In 2021, 54% of employees engaged in professional development activities, significantly exceeding the U.S. Department of Labor benchmark of 23%[80] - The company offers over 1,000 courses in multiple languages through its corporate learning platform, Align University[82] - The company’s Board has delegated ESG oversight to the Nominating and Governance Committee, with a focus on diversity, equity, and inclusion initiatives[76] - The company has been recognized by Forbes as one of the World's Best Employers in 2021 and by Great Places to Work in multiple countries[80] Financial and Risk Management - As of December 31, 2021, the company had approximately $197.3 million invested in available-for-sale marketable securities[300] - A 10% change in interest rates would not have a material adverse impact on the company's future operating results and cash flows[300] - The company primarily uses foreign currency forward contracts to mitigate short-term currency exchange rate risks, with contracts typically one month in maturity[303] - A 10% aggregate change in foreign currency exchange rates relative to the U.S. dollar could have a material impact on the company's results of operations and financial position[304] - The company does not use derivative financial instruments for trading or speculative purposes[301] Competition and Market Challenges - The company faces increasing competition in the clear aligner market due to patent expirations and the rise of direct-to-consumer competitors[64] - Seasonal fluctuations impact sales, with weaker performance in Europe during summer months and stronger sales in China during the third quarter[62] Intellectual Property and Patents - The company holds 642 active U.S. patents, 724 active foreign patents, and 736 pending global patent applications as of December 31, 2021[61] Leadership and Governance - The company's management team includes executives with diverse international backgrounds and extensive experience in global operations[90] Retention Products - Retention products include Vivera retainers, with a multi-year supply and distribution agreement with Ultradent Products for professional whitening systems[31] Doctor Training and Engagement - As of December 31, 2021, the company had approximately 122,500 active Invisalign-trained doctors, defined as those who submitted at least one case in the prior 12 months[58]

Align Technology, Inc. (NASDAQ:ALGN) Q4 2021 Results Conference Call February 2, 2022 4:30 PM ET Company Participants Joseph Hogan - President and CEO John Morici - CFO Shirley Stacy - VP, Corporate Communications and IR Conference Call Participants Nathan Rich - Goldman Sachs Jon Block - Stifle John Kreger - William Blair Jason Bednar - Piper Sandler Elizabeth Anderson - Evercore Jeffrey Johnson - Baird Brandon Couillard - Jeffrey's Matt Miksic - Credit Suisse Operator Greetings. Welcome to the Align Q4 '2 ...

Align Technology, Inc. (NASDAQ:ALGN) Q3 2021 Earnings Conference Call October 27, 2021 4:30 PM ET Company Participants Joseph Hogan – President and CEO John Morici – CFO Shirley Stacy – VP, Corporate Communications and IR Conference Call Participants Nathan Rich – Goldman Sachs Jonathan Block – Stifle John Kreger – William Blair Jason Bednar – Piper Sandler Elizabeth Anderson – Evercore Jeffrey Johnson – Baird Brandon Couillard – Jeffrey's Chris Cooley – Stephens Michael Ryskin – Bank of America Doug – Bire ...

Start Time: 16:30 January 1, 0000 5:34 PM ET Align Technology, Inc. (NASDAQ:ALGN) Q2 2021 Earnings Conference Call July 28, 2021, 16:30 PM ET Company Participants Joseph Hogan - President and CEO John Morici - CFO and SVP, Global Finance Shirley Stacy - VP, Corporate Communications and IR Conference Call Participants Nathan Rich - Goldman Sachs Jonathan Block - Stifel Jason Bednar - Piper Sandler Erin Wright - Credit Suisse Jeffrey Johnson - Robert W. Baird & Co. John Kreger - William Blair Elizabeth And ...

Align Technology, Inc. (NASDAQ:ALGN) Q1 2021 Earnings Conference Call April 28, 2021 4:30 PM ET Company Participants Shirley Stacy - VP, Corporate Communications & IR Joseph Hogan - President, CEO & Director John Morici - CFO & SVP, Global Finance Conference Call Participants Nathan Rich - Goldman Sachs Group Jason Bednar - Piper Sandler & Co. Elizabeth Anderson - Evercore ISI Jonathan Block - Stifel, Nicolaus & Company Kevin Caliendo - UBS Ravi Misra - Berenberg Jaime Morgan - SVB Leerink Jeffrey Johnson - ...