ALGN
Align Technology, Inc.162.89
+0.16+0.1%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
ASP -1-2%; DSOs 25% volumes
Q&A reaffirmed prepared remarks on market stability and international momentum, but quantified 2026 ASPs declining 1-2% YoY from geographic mix toward lower-price regions like LATAM and India. DSOs, now 25% of volumes, delivered some triple-digit growth with ample expansion runway as natural scaling partners. North America retail stabilized versus Q3 weakness, aided by scanning discipline and financing tools amid persistent consumer caution. Direct fab investments stay margin-dilutive in 2026, fully embedded in guidance. Management was direct on China VBP uncertainties, baking in none. DSOs power 25% of volumes. Watch NA execution and VBP rollout.
Key Stats
Market Cap
11.81BP/E (TTM)
31.57Basic EPS (TTM)
5.16Dividend Yield
0%Recent Filings
10-K
FY2025 results
Align Technology posted FY2025 net revenues of $4.0B, up 0.9% y/y, with Clear Aligner at $3.2B (up 0.5%) on 2.6M case shipments (up 4.7% y/y, teens/kids up 7.8%) yet ASP down 3.9% from product mix and discounts; Systems and Services hit $790M (up 2.7%) on scanner wand strength. Q4 momentum faltered amid macro headwinds—restructuring hit gross margin to 67.2% (down from 70.0%) via $77M accelerated depreciation and $23M asset impairment, while operating margin slipped to 13.5%. Cash at $1.1B funds $466M buybacks under $1B program ($831M remains); free cash flow not disclosed. Restructuring pruned headcount 3%. Geopolitical tensions threaten supply chains.
8-K
Bylaws amended for special meetings
Align Technology amended its bylaws on February 24, 2026, allowing special stockholder meetings if requested by holders of at least 25% of common stock held continuously for one year, subject to informational and timing rules. Changes also include clarifying and technical updates. Governance tightened for activists.
8-K
Q4 revenues hit record $1.05B
Align Technology posted Q4'25 record revenues of $1,047.6M, up 5.3% year-over-year, with Clear Aligner cases hitting 676.9K, up 7.7%, fueled by EMEA, Latin America, and APAC strength. Full-year revenues reached $4.0B, up 0.9%, despite $67.5M Q4 restructuring charges. Volumes grew. Q1'26 revenues eyed at $1.01B-$1.03B.
10-Q
Q3 FY2025 results
Align Technology posted Q3 revenue of $996M, up 1.8% y/y yet flat q/q amid restructuring drag, with Clear Aligner volume rising 4.9% y/y to offset ASP erosion from mix shifts. Gross margin slipped to 64.2% from 69.7% y/y, hammered by $23M assets-held-for-sale impairment, $15M inventory write-down, and accelerated depreciation on manufacturing disposals—but op income held at $96M. Diluted EPS of $0.78 matched basic on 72.4M shares, down sharply from $1.55 y/y. Cash sits at $1.0B with $370M YTD operating cash flow and $300M revolver untapped; share repurchases consumed $369M YTD. Restructuring targets workforce cuts through Q4. Antitrust suits linger.
8-K
Q3 revenues beat; restructuring hits
Align Technology posted Q3 revenues of $995.7M, up 1.8% year-over-year yet down 1.7% sequentially, beating guidance amid $88.3M restructuring charges that hammered GAAP margins to 9.7% while non-GAAP held at 23.9%. Clear aligner volumes rose 4.9% YoY to 647.8K cases, powered by teen/kids growth internationally; Systems revenues dipped on seasonality. Restructuring sharpens focus. Q4 revenues eyed at $1.025B-$1.045B.
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