Align Technology Inc - ALGN STOCK NEWS

Align Technology has received CE Mark in Europe and MHRA registration in the UK for its Invisalign® Palatal Expander System. This innovative 3D-printed device offers a removable alternative to traditional palatal expanders for treating narrow maxilla in patients with primary, mixed, or permanent dentition. Combined with Invisalign First™ aligners, it provides doctors with a complete early intervention treatment solution for both skeletal and dental arch expansion. The system is approved for broad patient applicability, including growing children, teens, and adults. The product is expected to be commercially available across EMEA in Q1 2025.

Align Technology hosted its 2024 Invisalign Ortho Summit, a premier educational event focused on digital practice transformation and treatment experiences. The three-day summit attracted over 1,000 doctors and practice team members who participated in hands-on experiences, clinical training, and practice growth strategies. The event showcased the Align Digital Platform and innovations including the Invisalign System with mandibular advancement, Invisalign Palatal Expander System, and Invisalign First. The Innovation Hub demonstrated digital tools and resources, while breakout sessions covered topics from clinical best practices to patient experience optimization.

Align Technology has launched its 2025 Annual Research Award Program, offering up to $300,000 in funding for university faculty conducting dental and orthodontic research globally. The program, which has funded approximately $3.75 million in research since 2010, will distribute twelve one-year awards of up to $25,000 each across Americas, EMEA, and APAC regions. Full-time and part-time faculty at universities where Invisalign® treatment or iTero™ scanner is available can apply until March 7, 2025, with winners announced by June 2, 2025.

Align Technology (ALGN) has announced its participation in four upcoming financial conferences in November and December 2024. The company will present at the UBS Global Healthcare Conference in Rancho Palos Verdes, the Jefferies London Healthcare Conference in England, the Piper Sandler Healthcare Conference in New York, and the Evercore HealthCONx Conference in Coral Gables. CFO John Morici will attend all events, with CEO Joseph Hogan joining for the London conference.

All presentations will be accessible via webcast through Align's Investor Relations website, with recordings available for approximately three months afterward. Align Technology is known for its Invisalign System, iTero intraoral scanners, and exocad CAD/CAM software, serving over 271,000 doctors globally.

Align Technology (ALGN) has announced plans to repurchase $275 million of its common stock through open market repurchases under its $1.0 billion stock repurchase program approved in January 2023. The repurchases will be executed via a Rule 10b5-1 trading plan and are expected to complete by January 2025, funded by cash on hand. As of September 30, 2024, Align had approximately 74.8 million shares outstanding and $1,041.9 million in cash and cash equivalents. The company cites strong balance sheet and cash flow generation as drivers for this decision.

Align Technology (ALGN) announced Frank Quinn will rejoin as Executive Vice President and Managing Director of the Americas region, reporting to CEO Joe Hogan. This appointment comes as part of a global organizational restructuring, which eliminates the position of Raj Pudipeddi, who will leave in Q4 2024. Quinn returns to Align after serving as Chief Revenue Officer at LightForce Orthodontics. During his previous 9-year tenure at Align, he held various leadership positions including VP and General Manager of the United States. Quinn brings extensive experience in orthodontics industry growth, strategy, and revenue management.

Align Technology (ALGN) reported Q3'24 total revenues of $977.9 million, up 1.8% year-over-year but down 4.9% sequentially. Clear Aligner revenues decreased 1.0% year-over-year to $786.8 million, while Imaging Systems and CAD/CAM Services revenues grew 15.6% to $191.0 million. The company achieved a GAAP operating margin of 16.6% and non-GAAP operating margin of 22.1%. Q3'24 net income was $116.0 million ($1.55 per diluted share). The company announced plans to repurchase up to $275.0 million of common stock starting Q4'24 and implemented a global restructuring plan with expected charges of approximately $30 million.

Align Technology (NASDAQ: ALGN) has announced the release of an enhanced version of Invisalign Smile Architect software with Multiple Treatment Plans functionality. This innovation allows doctors to compare orthodontic-only and ortho-restorative treatment plans side-by-side within the ClinCheck® treatment planning software. The software integrates with the Align Digital Platform and enables doctors to demonstrate treatment simulations using iTero scanners during office visits. The new feature includes tools like facial lines, tooth mass analysis, and in-face visualizations. The software is expected to be available to Invisalign trained doctors in Q4 2024.

Align Technology (NASDAQ: ALGN) has announced new iTero intraoral scanner innovations aimed at enhancing digital dentistry workflows. The company introduced three key products: the Align Oral Health Suite with comparison tools for assessments and reports, Invisalign Outcome Simulator Pro with multiple treatment simulations, and iTero Design Suite for in-practice 3D printing. GP practices using iTero scanners and Align Oral Health Suite saw 9% higher estimated monthly revenue compared to non-users. These innovations support patient education, treatment planning, and practice efficiency, and are expected to be available in Q4 2024.