The third-quarter 2024 earnings season has just kicked off for the MedTech space, with a number of bigwigs scheduled to release their results this week. Per the latest Earnings Preview, quarterly results of the broader Medical sector are projected to improve year over year, backed by strong product revenues on demand growth across all industries, offsetting the shortcomings generated from worldwide geopolitical issues and healthcare labor shortages. However, bottom-line results might significantly lag the s ...

Analysts on Wall Street project that Align Technology (ALGN) will announce quarterly earnings of $2.31 per share in its forthcoming report, representing an increase of 7.9% year over year. Revenues are projected to reach $991.22 million, increasing 3.2% from the same quarter last year. Over the last 30 days, there has been a downward revision of 1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial fo ...

Align Technology, Inc. (ALGN) is set to release third-quarter 2024 results on Oct. 23, after the closing bell.In the last reported quarter, the company posted adjusted earnings per share (EPS) of $2.41, which topped the Zacks Consensus Estimate by 3.9%. Align Technology beat on earnings in three of the trailing four quarters and missed in one, the average surprise being 4.42%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.ALGN’s Q3 EstimatesThe Zacks Consensus Estimate for revenues i ...

Core Viewpoint - Align Technology is facing significant challenges due to economic uncertainty, geopolitical issues, and rising costs, which are negatively impacting its dental procedures and stock performance [1][2]. Economic and Market Conditions - The company has experienced an 11.4% decline in stock value over the past three months, compared to a 2.4% decline in the industry [1]. - Global inflation and deteriorating international trade are contributing to increased raw material, labor, and freight costs, affecting the dental treatment sector [1][2]. Financial Performance - In Q2 2024, Align Technology's gross margin contracted by 95 basis points year over year to 70.3%, with a 5.9% increase in the cost of net revenues [2]. - The Clear Aligner Average Selling Price (ASP) decreased sequentially and was lower than the company's expectations, influenced by unfavorable foreign exchange rates [3][5]. Revenue and Pricing Challenges - The decline in Invisalign ASPs for comprehensive treatment options has led to reduced revenues, with higher discounts and a shift to lower ASP products being significant factors [5]. - The unfavorable foreign exchange impact on Clear Aligner revenues was 1.7% in Q2 2024, affecting Imaging Systems and CAD/CAM Services similarly [3]. Growth Opportunities - Align Technology is strategically targeting the malocclusion market, which affects 60% to 75% of the global population, representing a substantial growth opportunity [6]. - The company estimates that approximately 600 million people globally have malocclusion, with only 22 million opting for orthodontic treatment annually, indicating a large untapped market [6]. Operational Performance - In Q2 2024, volumes increased by 6.2% sequentially and 3.2% year over year, driven by growth in adult patients and strong teen case starts, particularly in Asia Pacific, EMEA, and Latin America [7]. - Adult patient case starts rose by 5% sequentially and 1% year over year, marking the highest number of adult shipments in eight quarters [7].

Core Viewpoint - Align Technology reported mixed financial results for Q2 2024, with adjusted earnings per share increasing but revenues missing estimates, leading to a cautious outlook for the remainder of the year [2][3][9]. Financial Performance - Adjusted earnings per share for Q2 2024 were $2.41, an increase of 8.6% year over year, surpassing the Zacks Consensus Estimate by 3.9% [2] - GAAP earnings per share decreased to $1.28, down 12.3% from the previous year [2] - Total revenues rose 2.6% year over year to $1.03 billion, but fell short of the Zacks Consensus Estimate by 0.9% [3] Segment Analysis - Revenues from the Clear Aligner segment decreased by 0.1% year over year to $831.7 million, impacted by a 1.7% unfavorable foreign exchange effect [4] - Imaging Systems & CAD/CAM Services revenues increased by 16.1% to $196.8 million, also affected by a 1.7% unfavorable currency impact [4] Margins and Expenses - Gross profit for Q2 was $722.6 million, up 1.3% year over year, but gross margin contracted by 95 basis points to 70.3% due to a 5.9% increase in the cost of net revenues [5] - SG&A expenses decreased by 0.2% to $452.3 million, while R&D expenses rose by 4.2% to $92.2 million [5] - Operating income increased by 3.6% to $178.2 million, with an operating margin expansion of 17 basis points to 17.3% [5] Cash Flow and Stock Repurchase - Cash and cash equivalents at the end of Q2 were $761.4 million, down from $865.8 million at the end of Q1 [6] - The company repurchased approximately 0.6 million shares for $150 million during the quarter, with $500 million remaining under its $1 billion stock repurchase program [7][8] Guidance - For full-year 2024, Align Technology expects revenue growth of 4-6%, revised down from 6-8%, with a Zacks Consensus Estimate of $4.12 billion [9] - The company anticipates a slight decline in GAAP operating margins compared to 2023, while non-GAAP operating margins are expected to be above 2023 levels [9] - For Q3 2024, revenue guidance is set between $0.9 billion and $1 billion, with a consensus estimate of $1.03 billion [9] Estimate Trends - Consensus estimates have trended downward, with a shift of -6.12% noted over the past month [10] VGM Scores - Align Technology currently holds a poor Growth Score of F, a Momentum Score of B, and a Value Score of D, placing it in the bottom 40% for the value investment strategy [11]

Dublin, Aug. 22, 2024 (GLOBE NEWSWIRE) -- The "Columbia Digital Dentistry Market Size, Share & Trends Analysis | 2024-2030 | MedSuite | Includes: Dental CAD/CAM Devices, Dental CAD/CAM Materials (Discs & Blocks), Dental 3D Printers, and 2 more" report has been added to ResearchAndMarkets.com's offering.In 2023, the Colombian digital dentistry market was valued at nearly $14.3 million. It is expected to grow at a CAGR of 3.8%, reaching over $18.6 million by the end of the forecast period. The comprehensive ...

Monty Rakusen/DigitalVision via Getty Images Introduction Align (NASDAQ:ALGN) recently released earnings and they were quite underwhelming. While Align is a quality company, the earnings growth is simply not enough. At the time of writing, Align is down 21.56% year-to-date and the stock dropped over 4% following the earnings report and continued to slide ever since... Data by YCharts So without further ado, let's take a look at the numbers and see if we can find a reason for this sell-off. The Numbers Align ...

Align Technology’s (ALGN) dental average selling prices (ASPs) are being severely impacted by the current economic uncertainty and foreign exchange headwinds. The competitive landscape also remains an overhang. The stock carries a Zacks Rank #4 (Sell) currently.The ongoing industry-wide trend of staffing shortages and supply chain-related hazards is denting Align Technology margins. Deteriorating international trade and global inflationary pressure are leading to a tough situation related to raw material an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-32259 ____________________________ ALIGN TECHNOLOGY, INC. (Exact name ...

Align Technology, Inc. (ALGN) delivered second-quarter fiscal 2024 adjusted earnings per share (EPS) of $2.41, up 8.6% from the year-ago quarter’s level. The reported figure topped the Zacks Consensus Estimate by 3.9%.GAAP EPS for the quarter was $1.28 compared with $1.46 in the prior-year quarter. This reflected a decline of 12.3% year over year.RevenuesThe top line increased 2.6% year over year to $1.03 billion, but missed the Zacks Consensus Estimate by a marginal 0.9%. Revenues were unfavorably impacted ...