Align Technology Inc - ALGN STOCK NEWS

Align Technology announces a partnership with Asana to launch Asana Smiles™, a workflow solution tailored for Invisalign-trained doctors in the U.S. This platform allows dental practices to efficiently manage patients' treatment journeys, from consultations to aligner delivery. The solution is designed to integrate seamlessly with existing systems, enhancing practice efficiency and patient care. It will be showcased at the American Association of Orthodontists' Annual Session from May 21-24, 2022, and is set for release next month, with future expansion plans.

Align Technology has launched the Invisalign Outcome Simulator Pro, enhancing patient consultation through advanced visualization tools. Available on iTero Element Plus series scanners, it combines in-face simulations with 3D views of potential treatment outcomes, driving patient education and acceptance. This tool streamlines workflows and maximizes chair time for doctors, fostering efficiency. Dr. Johnathan Fitzpatrick emphasized its impact on treatment acceptance. The simulator will be featured at multiple upcoming conferences and is set for wider availability in the second half of 2022.

Align Technology (Nasdaq: ALGN) has announced a $200 million accelerated stock repurchase program with Citibank, part of its $1 billion repurchase initiative. The ASR will start with an initial buyback of approximately 552,000 shares, concluding by July 26, 2022. CEO Joe Hogan will additionally purchase $2 million in stock, reflecting confidence in Align's growth potential and market opportunities. The company holds approximately $1.1 billion in cash, supporting this strategic initiative aimed at enhancing shareholder value.

Align Technology reported Q1'22 total revenues of $973.2 million, up 8.8% year-over-year but down 5.6% sequentially. Q1'22 Clear Aligner revenues were $809.7 million, a 7.5% increase year-over-year but down 0.7% sequentially. The company faced challenges from COVID-19, inflation, and geopolitical issues, which affected volumes and margins. Despite these, Align remains optimistic about its market potential, targeting long-term revenue growth of 20-30%. The quarter had a diluted EPS of $1.70, with a non-GAAP EPS of $2.13.

Align Technology, Inc. (Nasdaq: ALGN) will release its first-quarter 2022 financial results on April 27, 2022, at 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET to discuss the results. Interested parties can access the call via phone or through a live audio webcast on Align's Investor Relations website. An archived version will be available later. Align Technology specializes in clear aligners, intraoral scanners, and CAD/CAM software for digital dentistry, having treated over 12.2 million patients with its Invisalign system.

Align Technology has announced the integration of Cone Beam Computed Tomography (CBCT) scan data into its ClinCheck treatment planning software. This feature enables orthodontists to visualize patients' roots, bones, and crowns in a 3D model, facilitating better treatment planning with Invisalign. This innovation allows for the management of complex cases and improves overall treatment outcomes. The feature is currently in technical design assessment and will be phased in across clients starting in late 2022.

Align Technology (ALGN) received notable recognition at the 2022 Institutional Investor’s Most Honored Companies Awards, with its CEO, CFO, and Investor Relations team ranked among the top in their categories. Joe Hogan placed third overall, while John Morici topped the Buy Side category. The Investor Relations program achieved second place in both Buy Side and Combined categories. Align's placement in the 'Most Honored Company' list reflects its effective communication and investor relations efforts during a challenging pandemic era.

Align Technology, Inc. (Nasdaq: ALGN) has settled its patent infringement and antitrust litigation with 3Shape A/S, which commenced in November 2017. The litigation included various claims in federal courts and before the United States Patent Trial and Appeal Board. The settlement terms are confidential, but it is not expected to materially affect Align's operations or financial results. Invisalign customers will still be able to use 3Shape scanners for case submissions outside the U.S., China, and Japan. Align remains committed to innovation in digital orthodontics.

Align Technology (Nasdaq: ALGN) announces significant innovations in its Invisalign system aimed at enhancing digital orthodontics. Key features include ClinCheck Live Update for real-time treatment plan modifications, the Invisalign Practice App for mobile management, and the Invisalign Personalized Plan (IPP) for streamlined treatment preferences. These enhancements are designed to improve efficiency, patient outcomes, and overall practice productivity. Align's commitment to continuous innovation is underscored by leveraging data from over 12 million cases, enhancing both the doctor and patient experience.