Align Technology Inc - ALGN STOCK NEWS

Align Technology (NASDAQ: ALGN) has launched the iTero Element® Plus Series, enhancing its digital scanning solutions for the dental market. This new series offers faster processing times, improved visualization, and the integration of AI technology, addressing evolving dental practice needs. Designed for better productivity and patient care, the series includes both cart and mobile configurations, making it versatile for different clinical settings. The iTero Element Plus Series is available in various markets, with further expansions expected throughout 2021 and 2022.

Align Technology reported Q4 2020 results with total revenues of $834.5 million, reflecting a 28.4% year-over-year growth. Clear Aligner revenues hit $700.7 million, up 28.9% year-over-year, while operating margin improved to 25.5%. The company reached a milestone of 2 million Invisalign patients in EMEA. For the full year, revenues reached $2.5 billion, up 2.7% from 2019. Q4 net income was $159.0 million or $2.00 per share. Align's strategic focus, including marketing and technology investments, has positioned the company for continued growth in 2021.

Align Technology has officially established its new global corporate headquarters in Tempe, Arizona, effective January 1, 2021. The San Jose campus will now serve as the hub for the company's global innovation and marketing, housing a new Digital Innovation Center. Approximately 150 employees are being offered relocation packages, but layoffs are not anticipated. CEO Joe Hogan emphasized the commitment to innovation and support for employees during this transition. The move aims to enhance operational efficiencies while benefiting from Arizona's favorable business environment.

Align Technology, Inc. (Nasdaq: ALGN) will report its fourth quarter and 2020 financial results on February 3, 2021, after market close at 4:00 p.m. ET. A conference call to discuss these results will follow at 4:30 p.m. ET. Tentative earnings dates for fiscal 2021 have also been announced, with Q1 set for April 28, Q2 on July 28, and Q3 on October 27. Align Technology specializes in the Invisalign system and related digital dental technologies, having treated over 9 million patients globally.

Align Technology (Nasdaq: ALGN) will participate in two upcoming financial conferences. The presentations will be live-streamed on their Investor Relations website, with replays available for three months. The first event is the 32nd Annual Piper Sandler Virtual Healthcare Conference on December 1, 2020, from 1:30 PM to 1:55 PM ET, followed by the 3rd Annual Evercore Virtual ISI HealthCONx Conference on December 2, 2020, from 1:00 PM to 1:45 PM ET. Key speakers include CFO John Morici and Senior Manager Madelyn Homick.

Align Technology is focused on expanding digital orthodontics through its Invisalign doctors, announcing an opportunity to capture a global market of 15 million annual orthodontic case starts, with an additional potential of 500 million consumers. CEO Joe Hogan discussed the company's growth strategy, forecasting a CAGR of over 20% over five years, supported by a robust network of over 189,000 Invisalign doctors. The company continues to invest in its digital platform and iTero scanner technology, aiming to drive further adoption of Invisalign treatments.

Align Technology will host a virtual Investor Day on November 23, 2020, from 8:00 a.m. to 1:00 p.m. Eastern time. The event aims to provide insights into the company's future plans and performance. Interested participants must register in advance at registration link. The meeting will be livestreamed on the company’s website with a replay available for three months.

Align Technology (NASDAQ: ALGN) announced that the International Trade Commission (ITC) modified an earlier ruling regarding an investigation against 3Shape A/S. The ITC acknowledged that 3Shape infringed certain Align patents but invalidated those claims while upholding the validity of two other patents. However, it reversed the finding of indirect infringement. Align expressed disagreement with the ITC's decision and is considering further legal action, aiming to safeguard its intellectual property following significant investments in technology.

Align Technology announced the opening of its 2021 Research Award Program, offering up to $300,000 in funding for clinical and scientific dental research worldwide. Since its inception in 2010, the program has awarded approximately $2 million to advance orthodontics and dentistry. This year, awards will be available for research in the Americas, EMEA, and APAC regions, with a focus on improving patient care. Applications must be submitted by March 5, 2021, and recipients will be notified by June 7, 2021.