Align Technology Inc - ALGN STOCK NEWS

Align Technology and Desktop Metal have announced a strategic collaboration to integrate iTero Element Flex intraoral scanners into the Align Digital Platform. This partnership aims to enhance digital restorative dentistry by connecting general dentist locations with Desktop Labs' extensive lab network. The iTero scanner will facilitate better workflows for dentists, enabling efficient communication with labs and quicker patient evaluations. The collaboration signifies a substantial step toward advancing digital dentistry and improving patient care.

Align Technology has announced a new accelerated stock repurchase agreement (ASR) to buy back $200 million of its common stock, part of a $1 billion repurchase program initiated in May 2021. CEO Joe Hogan will personally purchase an additional $2 million of Align shares, enhancing shareholder value. As of September 30, 2022, Align had approximately $1.1 billion in cash and 78.2 million shares outstanding. The ASR is expected to be completed by February 1, 2023.

Align Technology reported Q3'22 results with total revenues of $890.3 million, down 12.4% year-over-year. Clear Aligner revenues declined 12.5% year-over-year, totaling $732.8 million. The company faced substantial foreign exchange impacts, decreasing revenues by $57.4 million year-over-year. Operating income was $143.7 million with a 16.1% operating margin, impacted by foreign exchange as well. Align celebrated reaching 14 million Invisalign patients and opened its first EMEA manufacturing facility in Poland.

Align Technology has announced the release of the iTero-exocad Connector, enhancing digital workflows for dental professionals. This integration allows users to visualize tooth structures using iTero intraoral cameras and NIRI images within the exocad DentalCAD 3.1 Rijeka software. Available for iTero Element 5D systems, this innovation streamlines design processes, enabling lab technicians to begin designing restorations with a single click. The release is effective from October 3, 2022, and is aimed at improving communication between labs and doctors, ultimately enhancing patient care.

Align Technology, a leader in clear aligner systems, announced its third-quarter 2022 financial results will be released on October 26, 2022, at 4:00 p.m. ET. A conference call to discuss these results will follow at 4:30 p.m. ET. The call can be accessed via dial-in or streamed online. Align has served over 13.4 million patients with its innovative products and continues to grow in the digital orthodontics space. Investors can find financial results and listen to the conference call on their Investor Relations website.

Align Technology has launched Invisalign Virtual Care AI, enhancing remote monitoring with AI-assisted features for orthodontists. This innovation allows doctors to manage patient treatment via the Invisalign Doctor Site without separate portals, streamlining workflows. Key functionalities include AI-assisted Automatic Assessment for tracking aligner fit and Automated Notifications to advise patients on their treatment progress. The system integrates with the Align Digital Platform, improving patient compliance and treatment tracking efficiency.

Align Technology has opened its first Europe, Middle East & Africa (EMEA) manufacturing facility in Wroclaw, Poland, marking a significant investment in the region. The new facility will support Align's EMEA operations and aims to produce almost 1 million clear aligner parts daily. This initiative is expected to create over 2,500 jobs by 2025. The facility aligns with Align's strategy to enhance service quality and delivery times for its customers, as the EMEA region contains over 7 million annual orthodontic cases and 150 million potential consumers.

Align Technology (NASDAQ: ALGN) reported Q2'22 revenues of $969.6 million, down 0.4% sequentially and 4.1% year-over-year. Clear Aligner sales decreased to $798.4 million, while Imaging Systems revenues rose 4.7% sequentially. The operating income was $188.2 million with a margin of 19.4%. Net income was $112.8 million, translating to $1.44 per diluted share. The company faced significant foreign exchange impacts, totaling approximately $15.3 million sequentially. Align purchased 757,000 shares at an average price of $264.37, demonstrating shareholder return strategy amidst economic challenges.

Align Technology, Inc. (NASDAQ: ALGN) will report its second quarter 2022 financial results on July 27, 2022, after market close at 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET to discuss the results, accessible via audio webcast. The archived version will be available for one month. Align Technology specializes in the design, manufacture, and sales of clear aligners, intraoral scanners, and CAD/CAM software, providing solutions to enhance efficiency and patient outcomes in orthodontics.