Align Technology Inc Stock Price, News & Analysis

Align Technology (Nasdaq: ALGN) will participate in several upcoming financial conferences. The presentations will be webcast live via their Investor Relations website, with archived replays available for three months. Key dates include:

• BofA Securities Virtual Healthcare Conference on May 12, 2021, from 11:45 AM to 12:15 PM ET.
• Berenberg US Conference 2021 on May 20, 2021, with no formal presentation.
• UBS Global Healthcare Conference on May 26, 2021, from 9:00 AM to 9:45 AM ET.

Align designs the Invisalign system and has treated over 10.2 million patients.

Align Technology has initiated an accelerated stock repurchase (ASR) agreement with Goldman Sachs to buy back $100 million of its common stock, part of a larger $600 million repurchase program announced in 2018. The ASR will lead to an initial delivery of approximately 134,300 shares, with the final amount determined by the stock's average price during the buyback period. Completion of the ASR is expected by August 2021. Align holds around $1.1 billion in cash and equivalents, which will fund this transaction.

Align Technology, Inc. reported a record Q1 2021 revenue of $894.8 million, up 62.4% year-over-year, with diluted EPS at $2.51. Clear Aligner revenues reached $753.3 million, a 56.4% increase compared to the prior year. Operating income soared 222.4% to $225.4 million, resulting in a 25.2% operating margin. Cash reserves totaled $1.1 billion. The company celebrated treating over 10 million Invisalign patients, showcasing significant growth, especially among teenagers. Align's future outlook anticipates net revenues between $3.7 billion and $3.9 billion for 2021, reflecting continued momentum.

Align Technology has extended its multi-year agreement with DECA Dental Group for the Invisalign system through early 2025. This partnership will enhance DECA-affiliated practices' access to Align’s iTero Element 5D imaging systems, which support digital workflows in dentistry. The iTero Element 5D can capture 3D impressions and Near Infrared Images without harmful radiation. Align, a leader in orthodontics, aims to improve patient experiences and outcomes through its digital platform and technologies. This collaboration underscores Align's commitment to innovation in dental care.

Align Technology plans to open its first aligner manufacturing facility in the EMEA region, specifically in Wroclaw, Poland, set to start operations in early 2022. This facility will enhance customer support for over 62,700 trained doctors by improving turnaround and delivery times. The investment aims to address a large market opportunity with over 5 million annual orthodontic case starts in the EMEA region. The new site will create more than 2,500 jobs and is part of Align's strategy to solidify its presence in the region and cater to the growing demand for its Invisalign system.

Align Technology announced support for expanding vaccination access through U.S. dentists. As vaccination efforts ramp up, the company highlights the role of dentists, who already serve 31 million Americans annually, in administering vaccines. Federal policies have enabled dentists to provide COVID-19 vaccinations, suggesting a broader role for dentists in public health. Align emphasizes that utilizing trusted community providers can enhance future vaccination initiatives. This strategy could integrate dentists into routine immunizations, improving public health outcomes.

Align Technology (Nasdaq: ALGN) will report its Q1 2021 financial results on April 28, 2021, post-market close. The financial results will be available at 4:00 p.m. ET on the Company’s Investor Relations website. A conference call will follow at 4:30 p.m. ET to discuss these results, accessible through a dedicated audio webcast. A replay of the call will be available for one month post-event, allowing stakeholders to review the details at their convenience.