Align Technology Inc Stock Price, News & Analysis

Align Technology (Nasdaq: ALGN) has awarded $275,000 in research grants through its twelfth Annual Research Award Program, funding eleven projects at universities worldwide. The initiative aims to further research capabilities in digital orthodontics and clear aligner treatment. Recipients include institutions from the Americas, Europe, and Asia Pacific, focusing on various topics such as distalization and pre-surgical treatment for cleft palates. Align emphasizes the growing interest in advancing dental technologies through these grants.

Align Technology, Inc. (NASDAQ: ALGN) will present at the Stifel 2022 Jaws & Paws Conference on June 1, 2022, from 8:00 to 8:30 AM ET in New York, NY. The presentation will be webcast live on Align's Investor Relations website, with an archived replay available for approximately three months. This event will feature CEO Joe Hogan, CFO John Morici, and Corporate Communications Director Madelyn Valente. Align is known for its Invisalign system, iTero scanners, and exocad software, revolutionizing digital orthodontics and restorative dentistry for over 217,000 doctors and 12.8 million patients globally.

Align Technology announces a partnership with Asana to launch Asana Smiles™, a workflow solution tailored for Invisalign-trained doctors in the U.S. This platform allows dental practices to efficiently manage patients' treatment journeys, from consultations to aligner delivery. The solution is designed to integrate seamlessly with existing systems, enhancing practice efficiency and patient care. It will be showcased at the American Association of Orthodontists' Annual Session from May 21-24, 2022, and is set for release next month, with future expansion plans.

Align Technology has launched the Invisalign Outcome Simulator Pro, enhancing patient consultation through advanced visualization tools. Available on iTero Element Plus series scanners, it combines in-face simulations with 3D views of potential treatment outcomes, driving patient education and acceptance. This tool streamlines workflows and maximizes chair time for doctors, fostering efficiency. Dr. Johnathan Fitzpatrick emphasized its impact on treatment acceptance. The simulator will be featured at multiple upcoming conferences and is set for wider availability in the second half of 2022.

Align Technology (Nasdaq: ALGN) has announced a $200 million accelerated stock repurchase program with Citibank, part of its $1 billion repurchase initiative. The ASR will start with an initial buyback of approximately 552,000 shares, concluding by July 26, 2022. CEO Joe Hogan will additionally purchase $2 million in stock, reflecting confidence in Align's growth potential and market opportunities. The company holds approximately $1.1 billion in cash, supporting this strategic initiative aimed at enhancing shareholder value.

Align Technology reported Q1'22 total revenues of $973.2 million, up 8.8% year-over-year but down 5.6% sequentially. Q1'22 Clear Aligner revenues were $809.7 million, a 7.5% increase year-over-year but down 0.7% sequentially. The company faced challenges from COVID-19, inflation, and geopolitical issues, which affected volumes and margins. Despite these, Align remains optimistic about its market potential, targeting long-term revenue growth of 20-30%. The quarter had a diluted EPS of $1.70, with a non-GAAP EPS of $2.13.

Align Technology, Inc. (Nasdaq: ALGN) will release its first-quarter 2022 financial results on April 27, 2022, at 4:00 p.m. ET. A conference call will follow at 4:30 p.m. ET to discuss the results. Interested parties can access the call via phone or through a live audio webcast on Align's Investor Relations website. An archived version will be available later. Align Technology specializes in clear aligners, intraoral scanners, and CAD/CAM software for digital dentistry, having treated over 12.2 million patients with its Invisalign system.

Align Technology has announced the integration of Cone Beam Computed Tomography (CBCT) scan data into its ClinCheck treatment planning software. This feature enables orthodontists to visualize patients' roots, bones, and crowns in a 3D model, facilitating better treatment planning with Invisalign. This innovation allows for the management of complex cases and improves overall treatment outcomes. The feature is currently in technical design assessment and will be phased in across clients starting in late 2022.