Align Technology said it recorded net income of $105.0 million and diluted net income per share of $1.39 for the 3 months ended March 31, 2024. Total net revenues rose $54.3 million from the same period a year earlier.

1. 01

   Align Technology said it recorded net income of $105.0 million and diluted net income per share of $1.39 for the 3 months ended March 31, 2024. Total net revenues rose $54.3 million from the same period a year earlier.

2. 02

   The company said Clear Aligner case volume rose 2.4% year over year in Q1 2024. It said Americas net revenues increased $5.8 million, and International net revenues increased $16.4 million.

3. 03

   Align said Imaging Systems and CAD/CAM Services revenues reached $180.2 million in Q1 2024, up 17.5% year over year. The company also said Systems and Services net revenues rose $26.8 million, citing higher sales of upgrade scanner systems among the factors.

4. 04

   The company said operating cash flow was $28.7 million in Q1 2024. It also said cash, cash equivalents and marketable securities totaled $902.5 million as of March 31, 2024. Align said prepaid expenses and other assets showed a net outflow of $79.2 million, mainly due to payments of UK VAT assessments.

Key figures

Quarter ended March 31, 2024

Revenue

$997M

Operating income

$154M

Net income

$105M

EPS

$1.39

Gross profit

$698M

Operating cash flow

$29M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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