Welcome to our dedicated page for Align Technology news (Ticker: ALGN), a resource for investors and traders seeking the latest updates and insights on Align Technology stock.
Align Technology reports developments in digital orthodontics and restorative dentistry through its Invisalign System of clear aligners, iTero intraoral scanners, exocad CAD/CAM software and the Align Digital Platform. Company news commonly covers product and workflow updates for clear-aligner treatment planning, intraoral scanning, 3D visualization and digitally connected dental practices.
Recurring updates also include quarterly and annual operating results, clear-aligner shipment and channel trends, regional demand, foreign-exchange effects, stock repurchase activity, financial-conference participation and governance or shareholder-voting matters. Other announcements describe clinical education, professional collaborations and access-to-care initiatives involving orthodontists, general practitioner dentists and dental research organizations.
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.
BetterInvesting Magazine has highlighted Align Technology (ALGN) as its 'Stock to Study' and Qualcomm Inc. (QCOM) as its 'Undervalued Stock' in the September 2022 issue. This selection, made by the Editorial Advisory and Securities Review Committee, aims to provide investors with educational insights amid recent market conditions. Ken Zendel, CEO of NAIC, notes that the current market pullback offers opportunities for investors to acquire growth stocks at reasonable prices. The magazine encourages individuals to utilize BetterInvesting's tools for informed investment decisions.
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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.