Align Technology, Inc. has recently released its 10-Q report, detailing its business operations and financial performance. The company designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists globally. The Clear Aligner segment offers a range of products, including comprehensive packages for younger patients, Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages, Invisalign moderate, lite, and express packages, and more. The Imaging Systems and CAD/CAM Services segment provides iTero intraoral scanning systems and restorative software for dental practitioners. Align Technology was incorporated in 1997 and is headquartered in Tempe, Arizona.
In the 10-Q report, Align Technology's management discusses the company's strategic objectives and expectations, including macroeconomic challenges, military conflicts in Ukraine and the Middle East, and changing product preferences. The report highlights the company's efforts to manage these challenges through strategic product innovations, pricing actions, and cost-saving measures.
The report also provides key financial and operating metrics for the three months ended June 30, 2024. Align Technology reported revenues of $1,028.5 million, representing a 2.6% year-over-year increase. Clear Aligner revenues totaled $831.7 million, with a 0.1% decrease year-over-year, while Imaging Systems and CAD/CAM Services revenues reached $196.8 million, marking a 16.1% increase year-over-year. The company reported income from operations of $147.0 million and a net income of $96.6 million, with diluted net income per share of $1.28. Additionally, Align Technology had cash, cash equivalents, and marketable securities of $782.1 million as of June 30, 2024.
Furthermore, the report includes other statistical data and trends, such as the number of people worldwide treated with the Invisalign system, the percentage of Invisalign cases submitted digitally, and the utilization rates among orthodontist and general practitioner customers in North America and international locations.
In terms of the report's results of operations, Align Technology's net revenues are grouped into two reportable segments: Clear Aligner segment and Systems and Services segment. The Clear Aligner segment includes comprehensive products, non-comprehensive products, and non-case revenues, while the Systems and Services segment encompasses iTero intraoral scanning systems and related services.
Align Technology's 10-Q report provides a comprehensive overview of the company's business operations and financial performance, offering valuable insights into its strategic priorities and key metrics for investors and stakeholders. Today the company's shares have moved -6.5% to a price of $213.49. For more information, read the company's full 10-Q submission here.
