Align Technology Announces $225 Million Open Market Repurchase
Align Technology (ALGN) has announced plans to repurchase $225 million of its common stock through open market repurchases, completing its $1.0 billion stock repurchase program approved in January 2023.
CFO John Morici stated this decision reflects the company's strong balance sheet, cash flow generation, and management's confidence in capitalizing on market opportunities while providing shareholder value. The repurchases will be executed via a Rule 10b5-1 trading plan and are expected to be completed by early May 2025, funded with Align's cash on hand.
As of December 31, 2024, Align had approximately 73.8 million shares outstanding and $1,043.9 million in cash and cash equivalents. The company continues to focus on making its Invisalign® System the standard of care in orthodontics through its doctor-centered model.
Align Technology (ALGN) ha annunciato piani per riacquistare 225 milioni di dollari delle sue azioni ordinarie tramite riacquisti sul mercato aperto, completando il suo programma di riacquisto di azioni da 1,0 miliardi di dollari approvato a gennaio 2023.
Il CFO John Morici ha dichiarato che questa decisione riflette la solidità del bilancio dell'azienda, la generazione di flussi di cassa e la fiducia della direzione nel capitalizzare le opportunità di mercato, fornendo al contempo valore agli azionisti. I riacquisti saranno eseguiti tramite un piano di trading Rule 10b5-1 e si prevede che siano completati entro inizio maggio 2025, finanziati con la liquidità disponibile di Align.
Al 31 dicembre 2024, Align aveva circa 73,8 milioni di azioni in circolazione e 1.043,9 milioni di dollari in liquidità e equivalenti. L'azienda continua a concentrarsi nel rendere il suo sistema Invisalign® lo standard di cura in ortodonzia attraverso il suo modello incentrato sui medici.
Align Technology (ALGN) ha anunciado planes para recomprar 225 millones de dólares de sus acciones ordinarias a través de recompras en el mercado abierto, completando su programa de recompra de acciones de 1,0 mil millones de dólares aprobado en enero de 2023.
El CFO John Morici declaró que esta decisión refleja la sólida situación financiera de la empresa, la generación de flujo de caja y la confianza de la dirección en capitalizar las oportunidades del mercado mientras proporciona valor a los accionistas. Las recompras se llevarán a cabo mediante un plan de negociación Rule 10b5-1 y se espera que se completen para principios de mayo de 2025, financiadas con el efectivo disponible de Align.
Al 31 de diciembre de 2024, Align tenía aproximadamente 73,8 millones de acciones en circulación y 1.043,9 millones de dólares en efectivo y equivalentes. La empresa sigue enfocándose en hacer de su sistema Invisalign® el estándar de atención en ortodoncia a través de su modelo centrado en el médico.
Align Technology (ALGN)는 2억 2천5백만 달러의 보통주를 공개 시장에서 재매입할 계획을 발표하며, 2023년 1월에 승인된 10억 달러 규모의 주식 재매입 프로그램을 완료한다고 밝혔습니다.
CFO 존 모리치는 이 결정이 회사의 강력한 재무 상태, 현금 흐름 생성, 그리고 시장 기회를 활용하려는 경영진의 자신감을 반영한다고 설명했습니다. 재매입은 Rule 10b5-1 거래 계획을 통해 실행될 예정이며, 2025년 5월 초까지 완료될 것으로 예상되며, Align의 현금으로 자금이 조달될 것입니다.
2024년 12월 31일 기준으로 Align은 약 7천380만 주의 유통 주식과 10억 4399만 달러의 현금 및 현금성 자산을 보유하고 있었습니다. 회사는 의사 중심 모델을 통해 Invisalign® 시스템을 치과 교정의 표준으로 만들기 위해 계속 집중하고 있습니다.
Align Technology (ALGN) a annoncé des plans pour racheter 225 millions de dollars de ses actions ordinaires par le biais de rachats sur le marché ouvert, complétant ainsi son programme de rachat d'actions de 1,0 milliard de dollars approuvé en janvier 2023.
Le CFO John Morici a déclaré que cette décision reflète la solidité du bilan de l'entreprise, la génération de flux de trésorerie et la confiance de la direction à capitaliser sur les opportunités de marché tout en offrant de la valeur aux actionnaires. Les rachats seront exécutés via un plan de trading Rule 10b5-1 et devraient être achevés d'ici début mai 2025, financés par la liquidité disponible d'Align.
Au 31 décembre 2024, Align comptait environ 73,8 millions d'actions en circulation et 1.043,9 millions de dollars en liquidités et équivalents. L'entreprise continue de se concentrer sur la mise en place de son système Invisalign® comme la norme de soins en orthodontie grâce à son modèle centré sur le médecin.
Align Technology (ALGN) hat Pläne angekündigt, 225 Millionen Dollar ihrer Stammaktien über Rückkäufe am offenen Markt zurückzukaufen und damit ihr Rückkaufprogramm über 1,0 Milliarden Dollar, das im Januar 2023 genehmigt wurde, abzuschließen.
CFO John Morici erklärte, dass diese Entscheidung die starke Bilanz des Unternehmens, die Generierung von Cashflow und das Vertrauen des Managements widerspiegelt, Marktchancen zu nutzen und gleichzeitig den Aktionären Wert zu bieten. Die Rückkäufe werden über einen Rule 10b5-1-Handelsplan durchgeführt und sollen bis Anfang Mai 2025 abgeschlossen sein, finanziert aus Aligns verfügbaren Barmitteln.
Zum 31. Dezember 2024 hatte Align etwa 73,8 Millionen ausstehende Aktien und 1.043,9 Millionen Dollar in Bar und liquiden Mitteln. Das Unternehmen konzentriert sich weiterhin darauf, sein Invisalign®-System zum Standard der zahnärztlichen Versorgung zu machen, durch sein arztzentriertes Modell.
- Completing $1.0 billion stock repurchase program
- Strong balance sheet and cash flow generation
- $1,043.9 million in cash and cash equivalents as of December 31, 2024
- Strategic investments in technology and scalability for growth
- Large addressable market opportunity (600 million consumer market worldwide)
- Significant cash outlay of $225 million reduces available capital for other investments
Insights
Align Technology's $225 million open market repurchase announcement represents the final component of their $1 billion stock repurchase program initiated in January 2023. This strategic capital allocation decision reveals several important implications for investors.
The repurchase represents approximately 1.6% of Align's current market capitalization, which should provide modest support for the stock while improving key per-share metrics. With 73.8 million shares outstanding, this could reduce the float by roughly 1.2 million shares (at current prices), potentially boosting EPS by a similar percentage, assuming stable earnings.
What's particularly noteworthy is Align's robust cash position of $1.04 billion as of December 31, 2024, which easily accommodates this repurchase while maintaining significant financial flexibility. The company's debt-to-capital ratio remains conservative, allowing them to simultaneously pursue strategic investments in their digital platform while returning capital to shareholders.
This balanced capital allocation approach differentiates Align from many medical device competitors who typically prioritize either growth investments or shareholder returns, but rarely execute effectively on both fronts. The repurchase timing is strategic – coming after their recent investments in technology and scalability infrastructure have been completed, suggesting management believes current share prices undervalue their long-term growth trajectory.
Looking at historical execution, Align has demonstrated discipline in their repurchase strategy, having systematically deployed $775 million of the original $1 billion authorization over approximately two years. This methodical approach has helped stabilize share price during market volatility while avoiding the pitfall of deploying too much capital during peak valuations.
For investors, this repurchase signals management's confidence in their competitive positioning within the 600 million consumer market opportunity. With their installed base of 271,600 doctor customers and 19.5 million patients treated to date, Align has penetrated only a fraction of their addressable market, suggesting substantial runway for organic growth remains.
The completion timeline by May 2025 provides a clear catalyst for potential share price support over the next quarter, while the Rule 10b5-1 trading plan structure ensures systematic execution regardless of market conditions – a prudent approach that reduces timing risk and demonstrates governance discipline.
“Today’s announcement of our intention to repurchase
The open market repurchases of Align’s common stock will be executed pursuant to a Rule 10b5-1 trading plan. The timing and number of shares repurchased will be based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and capital availability. The repurchases are expected to be completed by the beginning of May 2025 and will be funded with Align’s cash on hand. As of December 31, 2024, Align had approximately 73.8 million shares outstanding and
About Align Technology, Inc.
Align Technology designs and manufactures the Invisalign® System, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 271.6 thousand doctor customers and are key to accessing Align’s 600 million consumer market opportunity worldwide. Over the past 28 years, Align has helped doctors treat approximately 19.5 million patients with the Invisalign System and is driving the evolution in digital dentistry through the Align™ Digital Platform, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information.
For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com.
Invisalign, iTero, exocad, Align, Align Digital Platform and iTero Lumina are trademarks of Align Technology, Inc.
Forward-Looking Statements
This news release contains forward-looking statements including statements regarding the expected completion date of the open market repurchases, the aggregate value and number of shares of common stock to be repurchased, Align's expectation that it will finance the repurchases with cash on hand, our confidence in our products and investments and their ability to scale growth, our ability to capitalize on market opportunities, that the repurchases will provide value to our shareholders, as well as other statements regarding the open market repurchases along with our confidence in our business model. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement.
The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission ("SEC"), including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 28, 2024 and our latest Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which was filed with the SEC on November 5, 2024. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250225988786/en/
Align Technology
Madelyn Valente
(909) 833-5839
mvalente@aligntech.com
Zeno Group
Sarah Karlson
(828) 551-4201
sarah.karlson@zenogroup.com
Source: Align Technology, Inc.
FAQ
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