NASDAQ$ALGN

Align Technology Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Align's Q1 2020 financial results were announced, revealing a slight revenue increase but a significant impact from the COVID-19 pandemic.

Align Technology reported Q1 2020 total revenues of $551.0 million, a 0.4% increase year-over-year. The company experienced growth in clear aligner revenues, offset by a decline in scanner and services revenues, with the COVID-19 pandemic significantly impacting sales in late March.

  • Total revenues reached $551.0 million, up 0.4% year-over-year.
  • Clear aligner revenues increased to $481.6 million, a 2.6% year-over-year increase.
  • Scanner and services revenues decreased to $69.4 million, down 13.1% year-over-year.
  • Invisalign case shipments totaled 359.4 thousand, up 2.9% year-over-year.

Headline financials

Total Revenue

$551M

Previous: $549M+0.4%
EPS (adj)

$0.73

Previous: $1.17-37.6%
Clear Aligner Shipments

359.4K

Previous: 349.3K+2.9%
Capital Expenditures

-$46.1M

Previous: -$35.3M-30.7%
Free Cash Flow

$1.47B

Previous: $36.6M+3923.4%
Net Income

$1.52B

Previous: $71.8M+2013.0%
Operating Income

$69.9M

Previous: $87.7M-20.3%
Gross Profit

$394M

Previous: $402M-1.9%
Cash & Equivalents

$791M

Previous: $588M+34.5%
Total Assets

$3.96B

Previous: $2.23B+77.4%
Stock-Based Comp

$22.9M

Previous: $21M+8.9%

Revenue & EPS history

Align · Revenue · Quarterly

$551M

Q1 2020+0.4%vs Q1 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Align · $69.4M total across 1 segment · Q1 2020

  • Imaging Systems and CAD/CAM Services
    $69.4M-13.1%

Forward guidance

Due to the uncertain scope and duration of the pandemic, and uncertain timing of the global recovery and economic normalization, the company is not providing guidance for the second quarter of fiscal year 2020 and are withdrawing their full year 2020 guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+2.5%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+2.3%

Avg return

30 days after

66%

45 / 68 earnings

Positive

+35.5%

Q3 2020

Best reaction

-28.2%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.5%-5.4%-2.0%
Q4 2025+8.9%+21.7%+7.9%
Q3 2025+5.0%+2.9%+11.6%
Q1 2025+2.0%-0.1%+4.4%
Q4 2024+0.9%-2.7%-19.7%
Q3 2024+2.7%+2.4%+7.2%
Q2 2024-9.8%-10.6%-6.7%
Q1 2024-0.4%-2.3%-18.0%
Q4 2023+3.3%+4.1%+13.3%
Q3 2023-28.2%-29.7%-17.3%
Q2 2023+16.0%+13.8%+7.3%
Q1 2023-9.6%-9.7%-18.8%
Q4 2022+33.4%+27.0%+24.0%
Q3 2022-16.7%-10.9%-10.7%
Q2 2022+12.1%+12.3%+0.2%
Q1 2022-15.7%-14.5%-21.2%
Q4 2021-1.0%-1.6%-8.7%
Q3 2021+6.5%+11.5%+6.9%
Q2 2021+8.2%+11.9%+12.2%
Q1 2021-2.8%-3.5%-5.1%
Q4 2020+10.3%+8.0%-3.8%
Q3 2020+35.5%+35.8%+33.4%
Q2 2020-5.2%-2.1%-6.7%
Q1 2020+5.6%+3.3%+20.7%
Q4 2019-1.8%-5.5%-18.5%
Q3 2019+16.8%+17.2%+28.5%
Q2 2019-26.4%-28.2%-35.9%
Q1 2019+0.2%+7.2%+5.2%
Q4 2018+5.1%+10.2%+16.9%
Q3 2018-25.5%-30.1%-29.8%
Q2 2018-2.6%-6.4%-1.3%
Q1 2018+8.4%+4.3%+32.9%
Q4 2017-5.3%-7.0%-11.3%
Q3 2017+16.9%+18.5%+26.3%
Q2 2017+9.1%+6.8%+8.7%
Q1 2017+12.4%+12.0%+18.7%
Q4 2016+8.1%+6.5%+15.7%
Q3 2016+3.6%+6.8%+14.5%
Q2 2016+4.7%+6.1%+8.8%
Q1 2016-3.5%
Q4 2015+7.7%
Q3 2015+10.4%
Q2 2015-7.4%
Q1 2015+5.8%
Q4 2014-9.4%
Q3 2014+7.3%
Q2 2014+6.1%
Q1 2014-2.4%
Q4 2013+2.9%
Q3 2013+32.6%
Q2 2013+10.4%
Q1 2013+2.3%
Q4 2012+9.0%
Q3 2012-26.4%
Q2 2012+10.8%
Q1 2012+13.7%
Q4 2011-2.1%
Q3 2011+2.9%
Q2 2011-4.3%
Q1 2010-2.0%
Q1 2011+1.6%
Q4 2010+5.1%
Q4 2008+5.1%
Q3 2009+6.3%
Q3 2010+6.3%
Q4 2009+0.4%
Q2 2010+0.4%
Q2 2009+0.4%

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