NASDAQ$ALGN

Align Technology Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Announced second quarter 2022 financial results amidst global economic headwinds and COVID-19 impacts.

Align Technology reported Q2 2022 total revenues of $969.6 million, a slight decrease sequentially and year-over-year. The company's operating income was $188.2 million, with a diluted net income per share of $1.44, and a non-GAAP diluted net income per share of $2.00.

  • Q2'22 total revenues of $969.6 million were down slightly sequentially and year over year
  • Q2’22 revenues were unfavorably impacted by foreign exchange of approximately $15.3 million sequentially and approximately $39.9 million year over year
  • Q2'22 operating income of $188.2 million and operating margin of 19.4%, which was unfavorably impacted by foreign exchange of approximately 1.1 points sequentially and approximately 2.4 points year over year
  • Q2'22 diluted net income per share of $1.44; Q2'22 non-GAAP diluted net income per share of $2.00

Headline financials

Total Revenue

$970M

Previous: $1.01B-4.1%
EPS (adj)

$2.00

Previous: $3.04-34.2%
Clear Aligner Shipments

599.0K

Previous: 665.6K-10.0%
Capital Expenditures

-$163M

Previous: -$168M+2.6%
Free Cash Flow

-$50.5M

Previous: $32M-257.7%
Net Income

$113M

Previous: $200M-43.5%
Operating Income

$188M

Previous: $269M-30.0%
Gross Profit

$688M

Previous: $759M-9.4%
Cash & Equivalents

$878M

Previous: $1.1B-20.2%
Total Assets

$5.81B

Previous: $5.4B+7.7%
Stock-Based Comp

$34.1M

Previous: $28.9M+18.3%

Revenue & EPS history

Align · Revenue · Quarterly

$970M

Q2 2022-4.1%vs Q2 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

Align · $171M total across 1 segment · Q2 2022

  • Imaging Systems and CAD/CAM Services
    $171M+0.8%

Forward guidance

Align Technology will continue to manage investments to account for headwinds and uncertainty, while focusing on successfully delivering on our strategic growth drivers.

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 Q2 2022

Historical avgQ2 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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