ALIGN TECHNOLOGY INC ALGN

Healthcare SIC 3842 - Orthopedic, Prosthetic & Surgical Appliances & Supplies NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical Appliance and Supplies Manufacturing derived Nasdaq

Align Technology, Inc. ("we," "us," "our," "Align" or the "Company") is a global medical device company primarily engaged in the design, manufacture and marketing of Invisalign® clear aligners for the treatment of malocclusions, or the misalignment of teeth, by orthodontists and general dental practitioners ("GPs"), ViveraTM retainers for retention, iTeroTM intraoral scanners and services for dentistry, and exocadTM computer-aided design and computer-aided manufacturing ("CAD/CAM") software for dental laboratories and dental practitioners. Our vision and strategy is to revolutionize orthodontic and restorative dentistry through digital treatment planning and implementation using the AlignTM Digital Platform, an integrated suite of proprietary technologies and services designed to deliver a seamless, end-to-end solution for patients, consumers, orthodontists, GPs and lab partners. We strive to achieve our vision and strategy through key objectives made possible with the proprietary technologies and services of the AlignTM Digital Platform to establish: clear aligners as the principal solution for the treatment of malocclusions with the Invisalign System as the treatment solution of choice by orthodontists, GPs and patients

Last close 154.51 2026-10-23
Market cap $10.98B 2026-06-30 share count
52-week range 130.23 - 200.44

Valuation FY2025 figures against the last close

P/S2.7x
P/E27.3x
P/FCF22.4x
EV/EBITDA14.0x
Dividend yield—
Diluted EPS5.65

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • Other International
  • Switzerland
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 1.7B (41.2%) 41% U.S. Other International, FY2025: 1.5B (36.0%) 36% Other International Switzerland, FY2025: 920.6M (22.8%) 23% Switzerland FY2024 U.S., FY2024: 1.7B (42.4%) 42% Other International, FY2024: 1.3B (33.0%) 33% Switzerland, FY2024: 983.6M (24.6%) 25% FY2023 U.S., FY2023: 1.7B (43.1%) 43% Other International, FY2023: 1B (26.6%) 27% Switzerland, FY2023: 1.2B (30.2%) 30%
Region FY2025FY2024FY2023
U.S. $1.66B $1.70B $1.67B
Other International $1.45B $1.32B $1.03B
Switzerland $920.6M $983.6M $1.17B

As the company reported it, from the “Segments and Geographical Information - Revenue and Long-Lived Assets by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Clear Aligner
  • Systems and Services
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Clear Aligner, FY2025: 3.2B (80.4%) 80% Clear Aligner Systems and Services, FY2025: 789.6M (19.6%) 20% Systems and Services FY2024 Clear Aligner, FY2024: 3.2B (80.8%) 81% Systems and Services, FY2024: 768.9M (19.2%) 19% FY2023 Clear Aligner, FY2023: 3.2B (82.8%) 83% Systems and Services, FY2023: 662.9M (17.2%) 17%
Segment FY2025FY2024FY2023
Clear Aligner $3.25B $3.23B $3.20B
Systems and Services $789.6M $768.9M $662.9M

As the company reported it, from the “Segments and Geographical Information - Segments Information - (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.03B$4.00B$3.86B$3.73B$3.95B$2.47B$2.41B$1.97B$1.47B$1.08B
Cost of revenue $1.32B$1.20B$1.16B$1.10B$1.02B$708.7M$662.9M$518.6M$356.5M$264.6M
Gross profit $2.71B$2.80B$2.71B$2.63B$2.94B$1.76B$1.74B$1.45B$1.12B$815.3M
R&D $369.9M$364.2M$346.8M$305.3M$250.3M$175.3M$157.4M$128.9M$97.6M$75.7M
SG&A $1.76B$1.76B$1.70B$1.67B$1.71B$1.20B$1.07B$852.4M——
Total operating expenses $2.17B$2.19B$2.06B$1.99B$1.96B$1.38B$1.20B$981.3M$763.3M$566.4M
Operating income $545.8M$607.6M$643.3M$642.6M$976.4M$387.2M$542.5M$466.6M$353.6M$248.9M
Pre-tax income $585.3M$609.0M$641.2M$599.1M$1.01B$378.9M$562.7M$466.7M$364.8M$242.6M
Income tax $174.9M$187.6M$196.2M$237.5M$240.4M$1.40B$112.3M$57.7M$130.2M$51.2M
Net income $410.0M$421.0M$445.0M$362.0M$772.0M$1.78B$442.8M$400.2M$231.4M$189.7M
EPS, basic 5.665.635.824.629.7822.555.575.002.892.38
EPS, diluted 5.655.625.814.619.6922.415.534.922.832.33
Shares, diluted (wtd. avg.) 72.6M75.0M76.6M78.4M79.7M79.2M80.1M81.4M81.8M81.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.09B$1.04B$938.5M$942.4M$1.10B$961.5M$551.1M$637.6M$450.1M$393.0M
Short-term investments —$0$35.3M$57.5M$72.0M$0$318.2M$98.5M$272.0M$251.0M
Receivables $1.10B$995.7M$903.4M$859.7M$897.2M$657.7M$550.3M$439.0M$324.2M$247.4M
Inventory $226.3M$254.3M$296.9M$338.8M$230.2M$139.2M$112.1M$55.6M$31.7M$27.1M
Total current assets $2.62B$2.49B$2.45B$2.42B$2.49B$1.85B$1.63B$1.30B$1.16B$953.0M
Property, plant and equipment $1.13B$1.27B$1.29B$1.23B$1.08B$734.7M$631.7M$521.3M$348.8M$175.2M
Goodwill $491.8M$442.6M$419.5M$407.6M$418.5M$444.8M$63.9M$64.0M$64.6M$61.0M
Other intangibles $93.9M$103.5M$82.1M$95.7M$109.7M$130.1M$11.8M$17.9M$24.5M$21.0M
Total assets $6.23B$6.21B$6.08B$5.95B$5.94B$4.83B$2.50B$2.05B$1.78B$1.40B
Accounts payable $121.5M$108.7M$113.1M$127.9M$163.9M$142.1M$87.2M$64.3M$36.8M$28.6M
Total current liabilities $1.92B$2.04B$2.07B$1.93B$1.92B$1.33B$971.0M$692.1M$500.1M$354.3M
Total liabilities $2.18B$2.36B$2.45B$2.35B$2.32B$1.60B$1.15B$799.6M$629.7M$400.8M
Retained earnings $2.46B$2.48B$2.45B$2.57B$2.62B$2.22B$439.9M$378.1M$267.3M$131.4M
Total equity $4.05B$3.85B$3.63B$3.60B$3.62B$3.23B$1.35B$1.25B$1.15B$999.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $593.2M$738.2M$785.8M$568.7M$1.17B$662.2M$747.3M$554.7M$438.5M$247.7M
Depreciation and amortisation $237.4M$145.0M$142.4M$125.8M$108.7M$93.5M$79.0M$54.7M$37.7M$24.0M
Stock-based compensation $185.9M$173.7M$154.0M$133.4M$114.3M$98.4M$88.2M$70.8M$58.9M$54.1M
Capital expenditure $102.4M$115.6M$177.7M$291.9M$401.1M$154.9M$149.7M$223.3M$195.7M$70.6M
Investing cash flow -$112.4M-$254.9M-$195.9M-$213.3M-$563.4M-$231.5M-$350.4M$6.9M-$251.5M$73.0M
Financing cash flow -$464.6M-$355.7M-$598.3M-$501.7M-$458.3M-$30.8M-$485.5M-$369.4M-$135.5M-$95.5M
Buybacks $465.9M$352.9M$592.4M$435.0M$375.0M$0$400.0M$300.0M$103.8M$96.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001097149-26-000023.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 1.1B Gross profit, FY2016: 815.3M Net income, FY2016: 189.7M Revenue, FY2017: 1.5B Gross profit, FY2017: 1.1B Net income, FY2017: 231.4M Revenue, FY2018: 2B Gross profit, FY2018: 1.4B Net income, FY2018: 400.2M Revenue, FY2019: 2.4B Gross profit, FY2019: 1.7B Net income, FY2019: 442.8M Revenue, FY2020: 2.5B Gross profit, FY2020: 1.8B Net income, FY2020: 1.8B Revenue, FY2021: 4B Gross profit, FY2021: 2.9B Net income, FY2021: 772M Revenue, FY2022: 3.7B Gross profit, FY2022: 2.6B Net income, FY2022: 362M Revenue, FY2023: 3.9B Gross profit, FY2023: 2.7B Net income, FY2023: 445M Revenue, FY2024: 4B Gross profit, FY2024: 2.8B Net income, FY2024: 421M Revenue, FY2025: 4B Gross profit, FY2025: 2.7B Net income, FY2025: 410M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.08B $1.47B $1.97B $2.41B $2.47B $3.95B $3.73B $3.86B $4.00B $4.03B
Gross profit $815.3M $1.12B $1.45B $1.74B $1.76B $2.94B $2.63B $2.71B $2.80B $2.71B
Net income $189.7M $231.4M $400.2M $442.8M $1.78B $772.0M $362.0M $445.0M $421.0M $410.0M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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