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 announced the opening of its 2021 Research Award Program, offering up to $300,000 in funding for clinical and scientific dental research worldwide. Since its inception in 2010, the program has awarded approximately $2 million to advance orthodontics and dentistry. This year, awards will be available for research in the Americas, EMEA, and APAC regions, with a focus on improving patient care. Applications must be submitted by March 5, 2021, and recipients will be notified by June 7, 2021.
Align Technology reported impressive Q3 2020 results with total revenues at $734.1 million, marking a 20.9% increase year-over-year. The GAAP diluted net income per share was $1.76, while non-GAAP amounted to $2.25. Clear Aligner volume soared by 28.7% to 496.1 thousand cases. The operating margin improved to 24.1%, a significant 44.8 points increase sequentially. Align also celebrated 9 million Invisalign patients and launched innovative products enhancing treatment options.
Align Technology has announced the launch of Invisalign G8 with SmartForce Aligner Activation, enhancing treatment predictability for crowding, crossbite, and deep bite cases. Leveraging data from over 9 million Invisalign patients, this innovation optimizes tooth movements. Key features include automatic force application and precision bite ramps to improve treatment outcomes, with a reported 2x improvement in incisor intrusion predictability. Invisalign G8 will be available globally in Q1 2021.
Align Technology has filed a lawsuit against 3Shape for infringing seven additional patents in the U.S. District Court for the Western District of Texas. This lawsuit asserts over 30 patents against 3Shape, following a previous determination by the ITC that 3Shape’s scanners violated Align's patents. Align aims to protect its intellectual property and intends to assess further patent assertions against 3Shape if necessary.
Align Technology, Inc. (Nasdaq: ALGN) will announce its third quarter 2020 financial results on October 21, 2020, after market close at 4:00 p.m. ET. The results will be accessible on the Investor Relations section of their website. A conference call is scheduled for 4:30 p.m. ET to discuss these results, available via audio webcast. An archived replay will be accessible within an hour post-call and will be available for one month. Align Technology specializes in clear aligners, intraoral scanners, and CAD/CAM software, improving patient outcomes through advanced digital dentistry.
Align Technology has reached a significant milestone by treating its 1 millionth patient in the Asia Pacific with the Invisalign system, the leading clear aligner technology. This announcement emphasizes the growing adoption of Invisalign, with over 8 million patients worldwide. The milestone was celebrated by highlighting Ayumu Saito, a 23-year-old Olympic hopeful, as the 1 millionth patient. Align Tech is committed to enhancing patient outcomes through digital orthodontics and has contributed over $1 million to Operation Smile, supporting children and adults born with cleft conditions.
Align Technology announced a multi-year partnership with the New Orleans Saints, designating Invisalign as the 'Official Smile' partner. This collaboration aims to boost awareness and demand for Invisalign treatments through social and digital platforms. The partnership includes promoting defensive end Cam Jordan's Invisalign experience, benefiting the Youth Empowerment Project (YEP) in providing makeover treatments to underserved youth. Align has treated over 8 million patients with Invisalign, focusing on transforming smiles and enhancing community engagement.
Align Technology launched the Align Digital and Practice Transformation (ADAPT) service to aid orthodontic practices in transitioning to digital workflows. This fee-based consulting service aims to optimize operational processes, enhancing patient experiences and overall practice efficiency.
Practices involved in the pilot saw an average revenue increase of 20% and a 15% profit rise within six months of ADAPT implementation. The service will be globally available across the EMEA, APAC regions, and the US in late 2020.
Align Technology reported Q2 2020 total revenues of $352.3 million, down 41.3% year-over-year. The GAAP net loss per diluted share was $(0.52), and non-GAAP net loss was $(0.35). Invisalign volume fell to 221.9 thousand cases, a 41.2% decrease. The company acquired exocad for $430 million, aiming to enhance its digital platform. Although practices are reopening, uncertainty around the pandemic's impact persists, leading to no guidance for Q3 2020.
Align Technology (Nasdaq: ALGN) announced the awarding of nine research grants as part of its Annual Research Award Program, reflecting growing global interest in dental and orthodontic treatments. The grants support various orthodontic research projects, validating the efficacy of the Invisalign system in clinical applications. Award recipients include institutions from North America, Europe, and Asia Pacific, addressing topics such as the effects of orthodontic appliances and treatment methodologies.