Align Technology Inc Stock Price, News & Analysis

Align Technology (ALGN) reported Q3'24 total revenues of $977.9 million, up 1.8% year-over-year but down 4.9% sequentially. Clear Aligner revenues decreased 1.0% year-over-year to $786.8 million, while Imaging Systems and CAD/CAM Services revenues grew 15.6% to $191.0 million. The company achieved a GAAP operating margin of 16.6% and non-GAAP operating margin of 22.1%. Q3'24 net income was $116.0 million ($1.55 per diluted share). The company announced plans to repurchase up to $275.0 million of common stock starting Q4'24 and implemented a global restructuring plan with expected charges of approximately $30 million.

Align Technology (NASDAQ: ALGN) has announced the release of an enhanced version of Invisalign Smile Architect software with Multiple Treatment Plans functionality. This innovation allows doctors to compare orthodontic-only and ortho-restorative treatment plans side-by-side within the ClinCheck® treatment planning software. The software integrates with the Align Digital Platform and enables doctors to demonstrate treatment simulations using iTero scanners during office visits. The new feature includes tools like facial lines, tooth mass analysis, and in-face visualizations. The software is expected to be available to Invisalign trained doctors in Q4 2024.

Align Technology (NASDAQ: ALGN) has announced new iTero intraoral scanner innovations aimed at enhancing digital dentistry workflows. The company introduced three key products: the Align Oral Health Suite with comparison tools for assessments and reports, Invisalign Outcome Simulator Pro with multiple treatment simulations, and iTero Design Suite for in-practice 3D printing. GP practices using iTero scanners and Align Oral Health Suite saw 9% higher estimated monthly revenue compared to non-users. These innovations support patient education, treatment planning, and practice efficiency, and are expected to be available in Q4 2024.

Align Technology (Nasdaq: ALGN) has announced the availability of its Invisalign Palatal Expander System in Singapore. This innovative, removable device is designed for skeletal and dental expansion in growing patients, offering an alternative to traditional metal expanders. The system, now listed on the Singapore Medical Device Register as a class B medical device, is 3D printed and customized based on iTero intraoral scans.

Combined with Invisalign First aligners, it provides a complete early intervention treatment solution for Phase 1 orthodontic treatment. The system is already available in Australia, New Zealand, and Hong Kong, with plans to expand to other APAC markets in 2024. This launch reflects Align's commitment to advancing digital orthodontics and enhancing patient treatment experiences.

Align Technology (Nasdaq: ALGN) has announced the commercial availability of its Invisalign Palatal Expander System in Hong Kong. This innovative, direct 3D printed device offers an effective and removable alternative to traditional palatal expanders for skeletal and dental expansion in growing patients.

The system consists of a series of customized, removable devices designed using AI-driven orthodontic software based on iTero intraoral digital scans. When combined with Invisalign First aligners, it provides a complete early intervention treatment solution for Phase 1 orthodontic treatment, typically for patients aged 6-10.

The Invisalign Palatal Expander System is already available in Australia and New Zealand, with plans to expand to additional APAC markets in 2024, pending regulatory approvals.

Align Technology (Nasdaq: ALGN) has announced it will report its third quarter 2024 financial results on Wednesday, October 23, 2024, after market close. The results will be released at 4:00 p.m. ET and will be available on the company's Investor Relations website. A conference call to discuss the results will follow at 4:30 p.m. ET, which will also be accessible via webcast.

Align Technology is a global medical device company specializing in clear aligners, intraoral scanners, and CAD/CAM software for digital orthodontics and restorative dentistry. The company's product portfolio includes the Invisalign® System, iTero™ intraoral scanners, and exocad™ CAD/CAM software. Align has treated over 18.2 million patients with the Invisalign System and serves more than 266,000 doctor customers worldwide.

Align Technology (NASDAQ: ALGN) announced that the U.S. District Court for the Northern District of California has granted preliminary approval of a settlement to resolve shareholder derivative litigation pending since 2019. Under the settlement terms:

- Plaintiffs will dismiss lawsuits and release claims
- Align and defendants deny wrongdoing
- No monetary payments, except potential $575,000 in attorney's fees to plaintiffs' counsel, covered by insurance

The settlement includes corporate governance reforms to be maintained for at least 3 years, such as:

• Formalizing a management-level Disclosure Committee
• Adding a cybersecurity expert to the Audit Committee
• Enhancing board training and disclosures
• Expanding compliance and ethics roles

A final approval hearing is scheduled for February 4, 2025. Stockholders may object to the settlement by December 24, 2024.

Align Technology (Nasdaq: ALGN), a leading global medical device company, has announced its participation in an upcoming financial conference. The company, known for its Invisalign® System, iTero™ intraoral scanners, and exocad™ CAD/CAM software, will be presenting at Baird's 2024 Global Healthcare Conference on September 10, 2024, from 9:05 to 9:35 a.m. ET in New York, NY. John Morici, CFO, will be the speaker.

The presentation will be webcast live via Align's Investor Relations website, with an archived replay available for approximately three months. Align Technology has treated over 18.2 million patients with the Invisalign System and serves more than 266,000 doctor customers worldwide, targeting a 600 million consumer market opportunity.

Align Technology (Nasdaq: ALGN) has announced key leadership changes for its regional operations. David Carr, a medical technology industry veteran, joins as EVP and MD of the Asia Pacific region. Raj Pudipeddi, current EVP and MD of Asia Pacific and Chief Marketing Officer, will lead the Americas region while retaining his CMO role. Simon Beard continues to lead the EMEA region as EVP and MD.

These changes aim to strengthen Align's global leadership team, leveraging each executive's expertise in their respective markets. Carr brings over 25 years of management experience in healthcare and automotive industries, with a deep understanding of the Asia Pacific region. This restructuring is part of Align's strategy to enhance its position in the clear aligner and digital dentistry markets, serving over 266,000 doctors and targeting a 600 million consumer market opportunity worldwide.