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 ...

Financial Data and Key Metrics Changes - Total Q2 2024 revenues were $1,028.5 million, up 3.1% sequentially and 2.6% year-over-year, driven by growth in Clear Aligner volumes and Imaging Systems and CAD/CAM Services revenues [7][23] - Q2 2024 non-GAAP operating margin was 22.3%, up 2.5 points sequentially and 1.0 point year-over-year [9][32] - Q2 2024 net income per diluted share was $1.28, down sequentially $0.11 and down $0.18 year-over-year, while non-GAAP net income per diluted share was $2.41, up $0.27 sequentially and $0.19 year-over-year [34] Business Line Data and Key Metrics Changes - Clear Aligner revenues for Q2 2024 were $831.7 million, up 1.8% sequentially but flat year-over-year, impacted by lower ASPs and higher discounts [23][24] - Imaging Systems and CAD/CAM Services revenues increased 9.2% sequentially and 16.1% year-over-year, reflecting strong adoption of the iTero Lumina scanner [10][19] - Non-Case revenues, including Vivera retainers, were up 3.5% sequentially and 5.1% year-over-year, driven by growth in retainers and the Doctor Subscription Program [12] Market Data and Key Metrics Changes - Clear Aligner volumes increased 6.2% sequentially and 3.2% year-over-year, with strong growth from adult patients and teen case starts, particularly in Asia Pacific, EEMA, and Latin America [8][11] - The number of doctors submitting teen or younger patient case starts was up 8% year-over-year, indicating strong adoption in the teen segment [11] - The adoption of the my Invisalign consumer patient app increased, with over 4 million downloads and 384,000 monthly active users, reflecting a growing digital engagement [18] Company Strategy and Development Direction - The company continues to invest in consumer marketing and demand creation initiatives to raise awareness of Invisalign, with over 17 billion impressions globally [15][16] - The introduction of the iTero Design Suite aims to enhance practice efficiencies and patient experiences through 3D printing capabilities [21] - The company is focused on expanding its digital platform and enhancing the adoption of digital workflows in the dental industry, particularly through partnerships with Dental Service Organizations (DSOs) [14][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of end markets despite unfavorable foreign exchange impacts, emphasizing the commitment to support doctor customers in digital innovation [38] - The company anticipates Q3 2024 revenues to be in the range of $980 million to $1 billion, with expectations of lower Clear Aligner volumes and ASPs due to seasonality [36][37] - For fiscal 2024, total revenue growth is expected to be 4% to 6% year-over-year, with a focus on maintaining operational efficiency and profitability [37] Other Important Information - The company repurchased approximately 0.6 million shares at an average price of $250.73, with $500 million remaining for future repurchases [35] - Cash flow from operations for Q2 was $159.8 million, with capital expenditures of $53.5 million primarily for manufacturing capacity expansion [36] Q&A Session Summary Question: Insights on guidance change and ASP dynamics - Management noted that unfavorable foreign exchange impacts and a shift in product mix to lower ASP products contributed to the guidance change, with a focus on what doctors want to buy [42][43] Question: Impact of iTero restorative scan revenue on guidance - The expected revenue from the iTero restorative launch was factored into the original guidance, and its delay contributed to the overall guidance reduction [45][46] Question: ASP decline details - The decline in ASP was attributed to a mix of lower-priced products being sold and increased utilization of the Doctor Subscription Program, which has a lower ASP but better gross margins [50][51] Question: Doctor shipping numbers and competitive landscape - Management indicated that the increase in doctor shipments reflects a growing utilization and efforts to train more doctors, despite some competitive losses [58][59] Question: Direct Fab timelines and manufacturing updates - The timeline for Direct Fab is projected to be 2 to 3 years, with significant groundwork needed before achieving full operational efficiency [62] Question: Confidence in returning to normal seasonality - Management expressed optimism about returning to more normal seasonality based on observed trends in Q2 and expectations for the upcoming quarters [66]

Align Technology (ALGN) reported $1.03 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.6%. EPS of $2.41 for the same period compares to $2.22 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of -0.89%. The company delivered an EPS surprise of +3.88%, with the consensus EPS estimate being $2.32.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

align | * invisalign | iTero ©2024 Align Technology Inc. All rights reserved. 1 exocad Q2 2024 Financial Results Align Technology, Inc. July 24, 2024 Q2 2024 Conference Call Details | --- | |-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Shirley Stacy, sstacy@aligntech.com Madelyn Valente, mvalente@aligntech.com ©2024 Align Technology Inc. All rights reserved. 2 Safe Harbor and Forward-Looking Statements This presentation, including the tables below, contains forward-looking statements, includ ...

Exhibit 99.1 Align Technology Announces Second Quarter 2024 Results Align Technology Zeno Group Madelyn Valente Sarah Johnson (909) 833-5839 (828) 551-4201 mvalente@aligntech.com sarah.johnson@zenogroup.com ALIGN TECHNOLOGY ANNOUNCES SECOND QUARTER 2024 FINANCIAL RESULTS Total Invisalign® patients surpasses 18 million globally, including over 5 million teens and kids Continued Hogan, "For Clear Aligners, Q2'24 volumes increased 6.2% sequentially and 3.2% year-over-year, driven by growth from adult patients, ...

The second-quarter 2024 earnings season has just kicked off, with several MedTech bigwigs gearing up to release their results this week. Per the latest Earnings Preview, quarterly results of the broader Medical sector are likely to improve year over year, backed by strong product revenues on growing demand across all industries, offsetting the shortcomings generated from worldwide geopolitical issues and healthcare labor shortages.Going by the broader Medical sector’s scorecard, 5.1% of the companies in the ...

Align Technology, Inc. (ALGN) is set to release second-quarter 2024 results on Jul 24, after the closing bell.The company posted adjusted earnings per share (EPS) of $2.14 in the last reported quarter, which topped the Zacks Consensus Estimate by 8.1%. Align Technology beat on earnings in three of the trailing four quarters and missed in one, the average surprise being 5.92%.Q2 EstimatesThe Zacks Consensus Estimate for Align Technology’s revenues is pegged at $1.04 billion, suggesting growth of 3.8% from th ...

Align Technology (ALGN) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 24 ...

Announcement reflects Align Technology's continued partnership in Operation Smile's commitment to youth development through education, service, and leadership opportunitiesVIRGINIA BEACH, Va. and TEMPE, Ariz., July 17, 2024 /PRNewswire/ -- Operation Smile announced today that Align Technology, Inc. (Nasdaq: ALGN), a leading global medical device company, is the title sponsor of its upcoming 2024 International Student Leadership Conference (ISLC), which will be held at Emory University in Atlanta, GA, from J ...

RichLegg/E+ via Getty Images Introduction & Investment Thesis I initiated a "hold" rating on Align Technology (NASDAQ:ALGN) on March 1, where my thesis was predicated on my belief that the stock could remain under pressure as its operating margin had been declining, even though the company was showing signs of recovering revenue growth. Since then, the medical device company known for its Invisalign product has underperformed the S&P 500 (SPY) and Nasdaq 100 (QQQ) and is down 19% since the time of my writin ...