Align Technology Inc Stock Price, News & Analysis

Align Technology announced the results of a clinical study published in the Journal of Dentistry, demonstrating that the iTero Element 5D imaging system with NIRI technology outperforms traditional bitewing radiography in detecting early enamel lesions by 66%. The study indicated a detection accuracy of 88.6% for early enamel lesions and 96.9% for carious lesions. Conducted across five dental clinics in Germany and Canada, the iTero system offers a radiation-free option for caries detection, enhancing dental assessments and treatment options for patients.

Align Technology reported Q3'21 revenues of $1.016 billion, a 38.4% increase year-over-year and a 0.5% sequential rise. Clear Aligner revenues stood at $837.6 million, up 34.9% year-over-year but down 0.4% sequentially. The company achieved an operating margin of 25.7%, a slight decrease from the previous quarter. Notably, the total volume of Clear Aligners for teens rose 26.6% year-over-year. Align’s cash and equivalents reached $1.2 billion as of Sept 30, 2021. Outlook for FY 2021 anticipates revenues between $3.90 billion and $3.95 billion, indicating growth of 58% to 60% compared to 2020.

Align Technology (Nasdaq: ALGN) announced a hybrid Investor Day on October 29, 2021, from 4:00 p.m. to 8:30 p.m. Eastern Time. The event aims to provide insights on the company's advancements in digital orthodontics and restorative dentistry, leveraging the Invisalign system and iTero scanners.

Virtual participants must register in advance via the provided link. The meeting will be broadcast live, and a replay will be available on Align's website for three months post-event. For inquiries, contact Courtney Clemons at 408-591-0379.

Align Technology (Nasdaq: ALGN) announced it will release its third quarter 2021 financial results on October 27, 2021, after market close. Results will be accessible on the company’s Investor Relations website at 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET to discuss the results, available via audio webcast. Archived webcasts will be accessible for one month post-call. Align specializes in the Invisalign system, iTero scanners, and exocad software, serving over 200,000 doctors and having treated approximately 10.9 million patients globally.

Align Technology has formed a multi-year partnership with Ultradent to provide an exclusive professional whitening system for Invisalign-trained doctors. The new 'Invisalign Professional Whitening System – powered by Opalescence' combines the leading Opalescence PF whitening formula with Invisalign clear aligners. This product allows dental professionals to offer simultaneous teeth straightening and whitening, enhancing patient experience and practice efficiency. The system is set to launch globally in 2022, catering to increased demand for whitening during orthodontic treatment.

Align Technology (Nasdaq: ALGN) has announced its participation in the Baird 2021 Global Healthcare Conference on September 15, 2021. The virtual presentation will take place from 10:50 to 11:20 AM Eastern Time and will be led by CFO John Morici, along with Simon Beard and Madelyn Valente. interested parties can access the live webcast via the Investor Relations section of Align's website, with archived replays available for three months.

Align Technology (Nasdaq: ALGN) has announced a leadership change, appointing Raj Pudipeddi as the managing director for the Asia Pacific region, effective immediately. He will succeed Julie Tay, who will support a smooth transition until February 2022. Pudipeddi, previously chief product and marketing officer, brings significant experience from his tenure at Align and other leadership roles. Additionally, Srini Kaza has been promoted to senior vice president of product research & development, emphasizing Align's commitment to innovation in digital orthodontics.

Align Technology has announced a new accelerated stock repurchase agreement (ASR) with Goldman Sachs to repurchase $75 million of its common stock as part of a $1.0 billion stock repurchase program initiated on May 13, 2021. The ASR will commence with an initial delivery of approximately 86,200 shares. The total number of shares repurchased will depend on Align's stock price during the ASR term, which is expected to conclude by October 26, 2021. The buyback will be financed using Align's cash reserves, which stood at $1.1 billion as of March 31, 2021.

Align Technology reported record Q2 2021 total revenues of $1.0 billion, a jump of 186.9% year-over-year. Q2 Clear Aligner revenues reached $841.0 million, up 181.9% year-over-year. The diluted net income per share was $2.51, with non-GAAP diluted net income at $3.04. Operating margin improved to 26.6%, up 47.3 points year-over-year. Clear Aligner volumes totaled 665.6 thousand cases, showing 200.0% growth year-over-year. Align anticipates 2021 revenues between $3.85 billion and $3.95 billion, indicating a robust outlook.