With a market cap of $10.2 billion, Align Technology, Inc. (ALGN) is a global medical device company best known for its Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners. The company provides advanced orthodontic and restorative digital solutions across the United States, Switzerland, and international markets. Shares of the Tempe, Arizona-based company have delivered weaker returns than the broader market over the past 52 weeks. ALGN stock has decreased 37.5% over this time frame, ...

Company Overview - Align Technology's shares were priced at $133.14 as of October 28, 2025, with a market capitalization of $9.65 billion [3] - The company reported trailing twelve-month (TTM) revenue of $3.96 billion and net income of $437.61 million [3] - Align Technology primarily generates revenue from Invisalign clear aligners and iTero intraoral scanners, serving orthodontists, general dentists, and dental specialists [4] Business Model - The business model is based on the sale of orthodontic treatment systems and related digital solutions, with recurring revenue from software, services, and ancillary products [4] - Align Technology operates at scale with over 21,000 employees and a diversified geographic footprint, targeting both adult and pediatric patients [5] Market Position - Despite competition, Align Technology maintains a significant market share, having shipped 647,800 cases in the third quarter, representing a 4.9% year-over-year increase [7][8] - The company is the only one allowed to market the Invisalign System, although it faces competition from companies like Angelalign Technology, which reported a 46.7% increase in global case volume in 2024 [7][8] Financial Performance - Align Technology's trailing 12-month revenue is approximately 1.2% lower than its peak in early 2022, indicating stagnation in the Invisalign business [6] - Earnings per share have decreased by 78% from a peak reached over five years ago, highlighting disappointing bottom-line performance [7] Recent Developments - Navera Investment Management Ltd. reduced its stake in Align Technology by 785,194 shares, valued at approximately $122.99 million, retaining only 2,365 shares post-sale [1][2] - As of the filing date, Align Technology's shares had underperformed the S&P 500 by 57.93 percentage points, down 38.3% over the past year [2]

Headquartered in Tempe, Arizona, Align Technology, Inc. (ALGN) has established a global reputation in digital orthodontics and restorative dentistry. Valued at nearly $9.2 billion by market capitalization, its portfolio includes Invisalign clear aligners, iTero intraoral scanners, and exocad CAD/CAM (Computer-Aided Design/Computer-Aided Manufacturing) software. These offerings are integrated through the Align Digital Platform, which combines advanced software, services, and flexible delivery to provide co ...

Core Insights - Align Technology's (ALGN) efforts to expand the Invisalign business are expected to drive significant growth in the coming quarters, alongside advancements in iTero intraoral scanning technology [1][9] - The company has a strong financial position with zero debt and substantial cash flow, although foreign exchange challenges pose risks to its operations [9][10] Financial Performance - Over the past year, ALGN shares have decreased by 22.2%, while the industry saw a decline of 1.6%, and the S&P 500 composite increased by 11.3% [2] - The company's market capitalization stands at $11.66 billion, with a long-term estimated earnings growth rate of 11.2%, surpassing the industry's 9.9% [2] - ALGN has consistently exceeded earnings estimates in the last four quarters, with an average surprise of 3.4% [2] Business Developments - The Invisalign portfolio is expanding, with recent approvals for the Invisalign Palatal Expander in Turkey and the introduction of the Mandibular Advancement system in multiple countries [4][5] - ALGN has strengthened partnerships with global dental service organizations to enhance digital adoption in dentistry [6] - The iTero intraoral scanners are gaining traction globally, with new restorative capabilities and software upgrades announced in the first quarter [7][9] Solvency and Cash Flow - Align Technology maintains a strong liquidity position with no debt, reporting cash and cash equivalents of $873 million in the first quarter [10] - The cumulative net cash from operating activities increased to $52.2 million compared to $28 million in the previous year [10] Market Challenges - Foreign exchange fluctuations are a significant concern, impacting revenues as a large portion is generated outside the U.S. [11] - Both business segments experienced adverse effects from unfavorable foreign exchange rates in the first quarter [11] Earnings Estimates - The Zacks Consensus Estimate for 2025 earnings per share (EPS) remains at $10.33, with revenues projected at $4.15 billion, indicating a 3.9% increase from the previous year [12]