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Align Technology Inc. (NASDAQ: ALGN) is a prominent global medical device company known for designing and manufacturing the Invisalign® System, the world’s most advanced clear aligner system, iTero™ intraoral scanners, and exocad™ CAD/CAM software. These innovations enable digital orthodontics and restorative dentistry, improving patient outcomes and practice efficiencies for over 261,000 doctor customers worldwide. Since its establishment, Align Technology has treated over 17.6 million patients with Invisalign, driving the evolution of digital dentistry through the Align Digital Platform™.
The company’s flagship product, the Invisalign System, has revolutionized the approach to orthodontic treatment. Utilized in over 90 countries, Invisalign combines proprietary virtual modeling software and rapid mass-manufacturing processes to develop customized aligners for each patient. It's a preferred choice for treating a wide range of malocclusions, from simple to complex cases. The system has gained the trust of over 230,000 Invisalign-trained dentists and orthodontists globally.
Align Technology also offers the iTero intraoral scanner, which uses advanced parallel confocal imaging technology to capture detailed digital impressions of patients' teeth, facilitating accurate treatment plans and enhancing patient communication. Over 85% of Invisalign cases start with digital scans, underscoring the importance of iTero technology in modern dental practices.
In 2024, the company launched the iTero Lumina™, a next-generation intraoral scanner that offers a 3X wider field of capture with a significantly smaller and lighter wand, providing faster, more accurate scans and superior patient comfort. This innovation exemplifies Align's commitment to continuous improvement and leveraging emerging technologies.
Align’s commitment to innovation is further demonstrated by its recent acquisition of Cubicure GmbH, a pioneer in direct 3D printing solutions. This acquisition strengthens Align’s strategic innovation roadmap and enhances its manufacturing capabilities for 3D printed products such as the Invisalign Palatal Expander System. This new system offers a removable, clinically effective alternative to traditional palatal expanders, further solidifying Align’s position at the forefront of digital orthodontics.
The company’s financial health remains robust, with significant investments in R&D aimed at driving future growth. Align continues to support clinical and scientific research worldwide through its annual Research Awards Program, fostering advancements in dental care.
Align Technology maintains a strong market presence, bolstered by strategic partnerships and a broad product portfolio, ensuring its role as a leader in the rapidly evolving dental industry. For more information, visit www.aligntech.com.
Align Technology (Nasdaq: ALGN) has awarded $250,000 in research grants as part of its eleventh Annual Research Award Program, aimed at advancing dental and orthodontic treatments. Since 2010, the company has funded over $2.0 million in research, receiving numerous applications from global universities. The awarded studies cover diverse topics in orthodontics and dentistry, highlighting Align's commitment to innovation and improving oral health outcomes.
Align Technology (Nasdaq: ALGN) announced its participation in several upcoming financial conferences, where key executives will present details about the company and its offerings. The presentations will be webcast live from Align's Investor Relations website, with archived replays available for three months. Notable events include the William Blair Growth Stock Conference on June 1, Stifel Jaws & Paws Conference on June 2, Jefferies Healthcare Conference on June 3, Goldman Sachs Healthcare Conference on June 9, and the Nasdaq Investor Conference on June 16.
Align Technology, Inc. (Nasdaq: ALGN) has announced a new accelerated stock repurchase agreement with Goldman Sachs to buy back $100 million of its common stock. This repurchase is part of Align's $1.0 billion stock buyback program initiated on May 13, 2021. Under the ASR, Align will initially acquire about 143,000 shares, with the final total dependent on the stock's volume-weighted average price. The transaction is anticipated to conclude by August 2021 and will utilize Align's cash reserves, which stood at $1.1 billion as of March 31, 2021.
Align Technology (Nasdaq: ALGN) announced the launch of new consumer campaigns aimed at increasing demand for Invisalign treatment among teens and young adults. The multi-touch campaign builds on previous efforts, leveraging data analytics and engaging digital content through influencers. Align invests over $250 million annually in brand awareness to connect with potential patients. Currently, over 10 million consumers have utilized Invisalign for orthodontic treatment. The campaign will target various markets globally, starting in the US before expanding to regions including Australia, the UK, and Brazil.
Align Technology (ALGN) has authorized a new stock repurchase program, allowing the company to buy back up to $1.0 billion of its common stock over the next three years. This decision reflects the strength of Align's balance sheet and its commitment to returning capital to shareholders. The new program follows a $600 million repurchase authorization from May 2018, which included a $100 million accelerated stock repurchase transaction. Align currently has approximately 79.1 million shares outstanding and $1.1 billion in cash and cash equivalents.
Align Technology supports the updated policy statement from the General Dental Council (GDC), highlighting the necessity of a physical examination before orthodontic treatments. This ensures thorough assessment of patients' oral health and mandates that patients are informed about the dental professionals responsible for their care. Julie Coletti, the company’s legal officer, commended the GDC for its role in upholding dental standards in the UK, emphasizing that proper orthodontic treatment must be delivered by qualified professionals following in-person evaluations.
Align Technology (Nasdaq: ALGN) will participate in several upcoming financial conferences. The presentations will be webcast live via their Investor Relations website, with archived replays available for three months. Key dates include:
- BofA Securities Virtual Healthcare Conference on May 12, 2021, from 11:45 AM to 12:15 PM ET.
- Berenberg US Conference 2021 on May 20, 2021, with no formal presentation.
- UBS Global Healthcare Conference on May 26, 2021, from 9:00 AM to 9:45 AM ET.
Align designs the Invisalign system and has treated over 10.2 million patients.
Align Technology has initiated an accelerated stock repurchase (ASR) agreement with Goldman Sachs to buy back $100 million of its common stock, part of a larger $600 million repurchase program announced in 2018. The ASR will lead to an initial delivery of approximately 134,300 shares, with the final amount determined by the stock's average price during the buyback period. Completion of the ASR is expected by August 2021. Align holds around $1.1 billion in cash and equivalents, which will fund this transaction.
Align Technology, Inc. reported a record Q1 2021 revenue of $894.8 million, up 62.4% year-over-year, with diluted EPS at $2.51. Clear Aligner revenues reached $753.3 million, a 56.4% increase compared to the prior year. Operating income soared 222.4% to $225.4 million, resulting in a 25.2% operating margin. Cash reserves totaled $1.1 billion. The company celebrated treating over 10 million Invisalign patients, showcasing significant growth, especially among teenagers. Align's future outlook anticipates net revenues between $3.7 billion and $3.9 billion for 2021, reflecting continued momentum.
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