Revenue Performance - Q3'24 total revenues were $977.9 million, an increase of 1.8% year-over-year, but a decrease of 4.9% sequentially[1] - Q3'24 Clear Aligner revenues were $786.8 million, down 5.4% sequentially and down 1.0% year-over-year[1] - Q3'24 Imaging Systems and CAD/CAM Services revenues were $191.0 million, an increase of 15.6% year-over-year[1] - Net revenues for Q3 2024 reached $977.872 million, a 1.7% increase from $960.214 million in Q3 2023[25] - GAAP net revenues for Q3 2024 were $977,872, a year-over-year increase of 1.8% from $960,214 in Q3 2023[34] - Clear Aligner net revenues for Q3 2024 were $786,844, down from $794,939 in Q3 2023, reflecting a year-over-year decrease of 1.4%[35] - Imaging Systems and CAD/CAM Services net revenues for Q3 2024 were $191,028, up 15.6% from $165,275 in Q3 2023[35] - Constant currency net revenues for Q3 2024 were $977,747, reflecting no impact from foreign exchange[34] Profitability Metrics - Q3'24 operating income was $162.3 million, resulting in an operating margin of 16.6%, down 0.7 points year-over-year[2] - Q3'24 net income was $116.0 million, or $1.55 per diluted share, with non-GAAP net income of $175.6 million, or $2.35 per diluted share[2] - Gross profit for Q3 2024 was $681.774 million, compared to $663.076 million in Q3 2023, reflecting a gross margin improvement[25] - GAAP gross profit for Q3 2024 was $681,774, compared to $663,076 in Q3 2023, resulting in a gross margin of 69.7%[39] - Non-GAAP gross profit for Q3 2024 was $688,546,000, compared to $667,875,000 in Q3 2023, reflecting a year-over-year increase of 3.1%[43] - GAAP net income for Q3 2024 was $115,963,000, down from $121,427,000 in Q3 2023, a decrease of 4.0%[45] - Non-GAAP net income for Q3 2024 was $175,622,000, up from $164,321,000 in Q3 2023, indicating a growth of 6.5%[45] - GAAP operating margin for Q3 2024 was 16.6%, slightly down from 17.3% in Q3 2023[43] - Non-GAAP operating margin for Q3 2024 was 22.1%, compared to 21.8% in Q3 2023, showing an improvement of 1.4%[45] Operating Expenses and Cash Flow - Operating expenses increased to $519.476 million in Q3 2024 from $496.730 million in Q3 2023, with R&D expenses slightly decreasing to $85.272 million[25] - The company reported a total operating expense of $519,476,000 for Q3 2024, an increase from $496,730,000 in Q3 2023, reflecting a rise of 4.0%[43] - Net cash provided by operating activities for Q3 2024 was $452.153 million, a decrease from $738.878 million in Q3 2023[29] - As of September 30, 2024, cash and cash equivalents were $1.0 billion, up from $761.4 million as of June 30, 2024[1] - Cash and cash equivalents increased to $1.042 billion as of September 30, 2024, up from $937.438 million at the end of 2023[27] Future Outlook - The company plans to repurchase up to $275.0 million of its common stock beginning in Q4'24[1] - For Q4'24, the company expects worldwide revenues to be in the range of $995 million to $1,015 million[11] - Q4'24 GAAP operating margin is expected to be slightly lower than 14.0% due to restructuring charges impacting operating margin by approximately 3 points[11] - The company anticipates incurring restructuring charges of approximately $30 million in Q4'24[6] - Align Technology anticipates continued growth in Clear Aligner volume and ASP, with expectations for Q4 2024 revenues to remain strong[21] - The company expects continued growth in the number of trained doctors and utilization rates in the upcoming quarters[31] Balance Sheet Highlights - Total assets grew to $6.366 billion as of September 30, 2024, compared to $6.084 billion at the end of 2023[27] - Total stockholders' equity increased to $3.944 billion from $3.630 billion at the end of 2023[27] - The company reported a decrease in deferred revenues to $1.380 billion from $1.428 billion at the end of 2023[27] Utilization and Training - The number of Invisalign trained doctors increased to 85,195 in Q3 2023, up from 83,440 in Q2 2023[31] - Total utilization rates for North America in Q3 2024 were 9.6%, with North American orthodontists at 28.8% and GP dentists at 4.9%[31] - Stock-based compensation included in gross profit for Q3 2024 was $1,974, compared to $1,901 in Q2 2023[32] - Stock-based compensation for Q3 2024 was $49,039,000, compared to $39,602,000 in Q3 2023, an increase of 23.0%[45]

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 ...

Align Technology’s (ALGN) dental procedures are being impacted by the current economic uncertainty in the form of geopolitical complications and cost escalation. Currency impact continues to dent growth. Over the past three months, the stock has lost 11.4% compared with the industry’s 2.4% decline. The stock carries a Zacks Rank #4 (Sell) currently.The ongoing industry-wide trend of staffing shortages and supply chain-related hazards is denting margins for Align Technology. Deteriorating international trade ...

A month has gone by since the last earnings report for Align Technology (ALGN) . Shares have added about 1.2% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Align Technology due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Align Technology Tops Q2 Earnings, Gross ...

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 ...