NASDAQ$ALGN
Align Technology Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Align's Q1 2024 results were announced, revealing better-than-expected revenue and earnings, driven by growth in both Clear Aligner and Systems and Services segments.
Align Technology reported a 5.8% year-over-year increase in total revenues, reaching $997.4 million for Q1 2024. Clear Aligner revenue grew by 3.5%, while Imaging Systems and CAD/CAM Services revenue increased by 17.5%. The company's diluted net income per share was $1.39, and non-GAAP diluted net income per share was $2.14.
- Total revenues increased by 5.8% year-over-year, reaching $997.4 million.
- Clear Aligner revenues grew by 3.5% year-over-year, totaling $817.3 million with a volume increase of 2.4% to 605.1 thousand cases.
- Imaging Systems and CAD/CAM Services revenues increased by 17.5% year-over-year, amounting to $180.2 million.
- Diluted net income per share was $1.39, while non-GAAP diluted net income per share reached $2.14.
Headline financials
Revenue & EPS history
Align · Revenue · Quarterly
$997M
Revenue by segment
Align · $960M total across 2 segments · Q3 2023
- Clear Aligner$795M—82.8%
- Imaging Systems and CAD/CAM Services$165M+5.0%17.2%
Forward guidance
Align Technology anticipates worldwide revenues in the range of $1,030M to $1,050M for Q2 2024. They expect Clear Aligner volume to increase sequentially, with a slight decrease in Clear Aligner ASP due to unfavorable foreign exchange. Systems and Services revenue is projected to rise sequentially, driven by the ongoing rollout of iTero Lumina™. The company also expects both GAAP and Non-GAAP operating margins to be slightly above Q1 2024 levels.
Tailwinds
- Worldwide revenues are expected to be in the range of $1,030M to $1,050M.
- Clear Aligner volume is anticipated to increase sequentially.
- Systems and Services revenue is projected to rise sequentially due to iTero Lumina™.
- GAAP operating margin is expected to be slightly above Q1 2024.
- Non-GAAP operating margin is expected to be slightly above Q1 2024.
Headwinds
- Clear Aligner ASP is expected to decrease slightly sequentially due to unfavorable foreign exchange.
- Unspecified circumstances beyond the company's control could impact the outlook.
- Macroeconomic conditions, including inflation and currency exchange rate fluctuations, could pose challenges.
- Competition from existing and new competitors may affect sales and market share.
- The military conflict in the Middle East and Ukraine could have economic and geopolitical ramifications.
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 2024
+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
| Quarter | Report date | Reaction (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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