NASDAQ$ALGN

Align Technology Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Announced first quarter 2022 financial results.

Align Technology reported Q1 2022 total revenues of $973.2 million, an 8.8% increase year-over-year. Q1'22 diluted net income per share was $1.70; Q1 non-GAAP diluted net income per share was $2.13.

  • Q1'22 total revenues of $973.2 million, compared to $894.8 million in Q1'21
  • Q1'22 Invisalign volume of 598.8 thousand cases, compared to 595.8 thousand cases in Q1'21
  • Q1'22 Invisalign cases for teenage patients of 175.2 thousand cases, 29.3% of total volumes, compared to 165.3 thousand cases, or 27.7% of total volumes in Q1'21
  • Q1'22 diluted net income per share of $1.70; Q1 non-GAAP diluted net income per share of $2.13

Headline financials

Total Revenue

$973M

Previous: $895M+8.8%
EPS (adj)

$2.13

Previous: $2.49-14.5%
Clear Aligner Shipments

598.8K

Previous: 595.8K+0.5%
Capital Expenditures

-$87.3M

Previous: -$43.4M-101.1%
Free Cash Flow

$47M

Previous: $157M-70.1%
Net Income

$134M

Previous: $200M-33.0%
Operating Income

$198M

Previous: $225M-12.1%
Gross Profit

$709M

Previous: $677M+4.8%
Cash & Equivalents

$926M

Previous: $1.1B-15.8%
Total Assets

$5.94B

Previous: $5.07B+17.2%
Stock-Based Comp

$31.6M

Previous: $27.2M+16.1%

Revenue & EPS history

Align · Revenue · Quarterly

$973M

Q1 2022+8.8%vs Q1 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Align · $164M total across 1 segment · Q1 2022

  • Imaging Systems and CAD/CAM Services
    $164M+15.5%

Forward guidance

During Q2'22, we expect to repurchase up to $200.0 million of our common stock through either, or a combination of, open market repurchases or an accelerated stock repurchase agreement.

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 2022

Historical avgQ1 2022

+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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