What does Align Technology do?

Align Technology is a Tempe, Arizona based medical device company. Its 10-K reports two segments: Clear Aligner, which includes Invisalign clear aligner packages and Vivera retainers, and Systems and Services, which covers iTero intraoral scanners and exocad CAD/CAM software. The 10-K says over 22 million people worldwide have been treated with the Invisalign System to date.

How much revenue did Align Technology make in 2025?

Net revenues were $4,034,964 thousand in 2025, against $3,999,012 thousand in 2024 and $3,862,260 thousand in 2023, according to its 10-K. Its 10-Ks for 2022 and 2021 report net revenues of $3,734,635 thousand and $3,952,584 thousand.

Was Align Technology profitable in 2025?

Yes. Its 10-K reports net income of $410,351 thousand in 2025, or $5.65 per diluted share, against $421,362 thousand, or $5.62 per diluted share, in 2024. Income from operations was $545,755 thousand in 2025 and $607,628 thousand in 2024.

How big is the Invisalign business compared with iTero?

In 2025 the Clear Aligner segment had net revenues of $3,245,404 thousand and segment income from operations of $1,034,791 thousand; Systems and Services, which includes iTero scanners and exocad, had net revenues of $789,560 thousand and segment income from operations of $306,090 thousand (10-K, segment details).

What is Align Technology's outlook for 2026?

In its July 29, 2026 release, assuming no circumstances occur beyond its control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees, Align said it expects Q3 2026 worldwide revenues of $1,000M to $1,020M, which it said is down sequentially from Q2'26, and continues to expect 2026 worldwide revenue growth of 3% to 4% year-over-year. It also said it expects 2026 capital expenditures of $125 million to $150 million and now expects to repurchase $400 million to $500 million of its common stock in 2026. These are the company's own projections, not reported results.

Does Align Technology buy back stock?

Yes. Common stock repurchases, net of excise tax, were $465,939 thousand in 2025, $352,878 thousand in 2024 and $592,360 thousand in 2023 (10-K cash flow statement). They were $98,126 thousand in the six months ended June 30, 2026 (10-Q, unaudited).

Who runs Align Technology?

Joseph M. Hogan is President and Chief Executive Officer and John F. Morici is Chief Financial Officer and Executive Vice President, Global Finance; both certified Align's 10-Q for the quarter ended June 30, 2026. A Form 8-K filed June 22, 2026 says Kevin Conroy succeeded C. Raymond Larkin, Jr. as Chairman of the Board effective July 1, 2026.

DalsnaFinance Account

Align Technology $ALGN

Health Care · Health Care Supplies · NYSE/NASDAQ

Profile updated Oct 14, 2026

S&P 500 Russell 1000 Arizona

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$148.71

-0.29 (-0.19%)

As of Oct 20, 2026, 11:57 AM EDT

Price history

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Key facts

52-week range (closes): $128.43 – $197.51 Lowest close Oct 15, 2025, highest Feb 11, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings: Oct 28, 2026, after the close · EPS forecast $2.33 Nasdaq earnings calendar, as of Oct 20, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Jun 19, 2017, replacing Yahoo! (YHOO), Teradata (TDC), Ryder System (R) and Mead Johnson (MJN) · Verizon acquired Yahoo operations; remainder of Yahoo became Altaba. · Market capitalization changes. · Reckitt Benckiser acquired Mead Johnson Nutrition. · All S&P 500 changes

Align Technology (ALGN) is trading down at $148.71 (-0.19%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Health Care sector.

Align Technology revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Align Technology annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$1.08B	$1.47B	$1.97B	$2.41B	$2.47B	$3.95B	$3.73B	$3.86B	$4.00B	$4.03B
Growth (year over year)	+27.7%	+36.4%	+33.5%	+22.4%	+2.7%	+59.9%	−5.5%	+3.4%	+3.5%	+0.9%
Gross profit	$815.3M	$1.12B	$1.45B	$1.74B	$1.76B	$2.94B	$2.63B	$2.71B	$2.80B	$2.71B
Gross margin	75.5%	75.8%	73.6%	72.5%	71.3%	74.3%	70.5%	70.1%	70.0%	67.2%
Operating income	$248.9M	$353.6M	$466.6M	$542.5M	$387.2M	$976.4M	$642.6M	$643.3M	$607.6M	$545.8M
Operating margin	23.1%	24.0%	23.7%	22.5%	15.7%	24.7%	17.2%	16.7%	15.2%	13.5%
Net income	$189.7M	$231.4M	$400.2M	$442.8M	$1.78B	$772.0M	$361.6M	$445.1M	$421.4M	$410.4M
Net margin	17.6%	15.7%	20.4%	18.4%	71.8%	19.5%	9.7%	11.5%	10.5%	10.2%
EPS (diluted)	$2.33	$2.83	$4.92	$5.53	$22.41	$9.69	$4.61	$5.81	$5.62	$5.65
Balance sheet
Cash and equivalents	$389.3M	$449.5M	$636.9M	$550.4M	$960.8M	$1.10B	$942.0M	$937.4M	$1.04B	$1.09B
Total assets	$1.40B	$1.78B	$2.05B	$2.50B	$4.83B	$5.94B	$5.95B	$6.08B	$6.21B	$6.23B
Total liabilities	$400.8M	$629.7M	$799.6M	$1.15B	$1.60B	$2.32B	$2.35B	$2.45B	$2.36B	$2.18B
Shareholders' equity	$999.3M	$1.15B	$1.25B	$1.35B	$3.23B	$3.62B	$3.60B	$3.63B	$3.85B	$4.05B
Cash flow
Operating cash flow	$247.7M	$438.5M	$554.7M	$747.3M	$662.2M	$1.17B	$568.7M	$785.8M	$738.2M	$593.2M
Capital expenditure	$70.6M	$195.7M	$223.3M	$149.7M	$154.9M	$401.1M	$291.9M	$177.7M	$115.6M	$102.4M
Free cash flow	$177.1M	$242.8M	$331.4M	$597.6M	$507.3M	$771.4M	$276.8M	$608.1M	$622.7M	$490.8M
Share buybacks	$96.2M	$103.8M	$300.0M	$400.0M	$0	$375.0M	$435.0M	$592.4M	$352.9M	$465.9M

RevenueNet incomeNet margin (right axis, %)

Align Technology quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$977.9M	$995.2M	$979.3M	$1.01B	$995.7M	$1.05B	$1.04B	$1.06B
Growth (year over year)	+1.8%	+4.0%	−1.8%	−1.6%	+1.8%	+5.3%	+6.2%	+4.3%
Gross profit	$681.8M	$696.9M	$680.1M	$708.1M	$639.2M	$683.6M	$736.6M	$757.4M
Gross margin	69.7%	70.0%	69.5%	69.9%	64.2%	65.3%	70.8%	71.7%
Operating income	$162.3M	$144.1M	$131.1M	$163.0M	$96.3M	$155.3M	$142.0M	$154.0M
Operating margin	16.6%	14.5%	13.4%	16.1%	9.7%	14.8%	13.6%	14.6%
Net income	$116.0M	$103.8M	$93.2M	$124.6M	$56.8M	$135.8M	$112.8M	$108.3M
Net margin	11.9%	10.4%	9.5%	12.3%	5.7%	13.0%	10.8%	10.3%
EPS (diluted)	$1.55	$1.40	$1.27	$1.72	$0.78	$1.88	$1.57	$1.51
Balance sheet
Cash and equivalents	$1.04B	$1.04B	$873.0M	$901.2M	$1.00B	$1.09B	$1.06B	$1.10B
Total assets	$6.37B	$6.21B	$6.10B	$6.22B	$6.23B	$6.23B	$6.31B	$6.42B
Total liabilities	$2.42B	$2.36B	$2.31B	$2.31B	$2.28B	$2.18B	$2.16B	$2.19B
Shareholders' equity	$3.94B	$3.85B	$3.79B	$3.91B	$3.96B	$4.05B	$4.15B	$4.23B
Cash flow
Operating cash flow	$263.7M	$286.1M	$52.7M	$128.7M	$188.7M	$223.2M	$151.0M	$192.8M
Capital expenditure	$29.8M	$23.0M	$25.3M	$21.5M	$19.8M	$35.9M	$30.8M	$35.7M
Free cash flow	$233.9M	$263.1M	$27.4M	$107.2M	$169.0M	$187.3M	$120.3M	$157.1M
Share buybacks	$0	$202.9M	$201.1M	$96.0M	$71.6M	$97.2M	$31.2M	$66.9M

From Align Technology's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Align Technology vs the Health Care sector and the S&P 500

Align Technology's latest reported figures next to the median of the other 59 S&P 500 Health Care companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Align Technology compared with the median Health Care company and the median S&P 500 company
Measure	Align Technology	Health Care (59 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+0.9%	+7.2%	+7.0%
Net margin, latest fiscal year	10.2%	13.1%	13.0%
Share price change, 1 year	+10.4%	+19.8%	+5.6%

Align Technology: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Align Technology included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 59/496, net margin 59/496, 1-year price change 59/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Align Technology

Align Technology, Inc. is an American manufacturer of 3D digital scanners and Invisalign clear aligners used in orthodontics and restorative workflow. It was founded in 1997 and is headquartered in Tempe, Arizona. The company manufactures the aligners in Juarez, Mexico, and its scanners in Israel and China. The company is best known for its Invisalign system, which is a clear aligner treatment used to straighten teeth.

Source: Wikipedia — Align Technology

Headquarters: Tempe, Arizona From SEC filings, Oct 2026

Company profile

Align Technology, Inc., a Delaware corporation headquartered at 410 North Scottsdale Road, Suite 1300, in Tempe, Arizona, describes itself in its 10-K as a global medical device company; its products include Invisalign clear aligners, Vivera retainers, iTero intraoral scanners and exocad CAD/CAM software. Its fiscal year ends December 31 and its common stock, $0.0001 par value, trades on Nasdaq as ALGN; 71,282,132 shares were outstanding on February 20, 2026 (10-K cover), and 71,039,852 on July 31, 2026 (10-Q cover). The 10-K reports approximately 20,290 employees at December 31, 2025, says over 22 million people worldwide have been treated with the Invisalign System to date, and reports approximately 130,015 active Invisalign-trained doctors at December 31, 2025. It groups its operations into two reportable segments: Clear Aligner and Imaging Systems and CAD/CAM services ("Systems and Services"). Its clear aligner manufacturing facilities are located in Juarez, Mexico; Ziyang, China; and Wroclaw, Poland (10-K).

The 10-K reports net revenues of $4,034,964 thousand in 2025, against $3,999,012 thousand in 2024 and $3,862,260 thousand in 2023; earlier 10-Ks report $3,734,635 thousand for 2022 and $3,952,584 thousand for 2021. Net income was $410,351 thousand in 2025, or $5.65 per diluted share, against $421,362 thousand, or $5.62, in 2024. Total case volume, which represents Clear Aligner case shipments, was 2,611.3 thousand in 2025 against 2,493.7 thousand in 2024. In its MD&A Align says Clear Aligner net revenues increased by $15 million in 2025 compared with 2024, primarily due to higher Clear Aligner volume, which added $138 million, and $4 million from favorable foreign exchange rates, partially offset by a decrease in ASP driven by product mix shift to lower priced products and higher discounts, which reduced net revenue by $127 million. A restructuring begun in the third quarter of 2025 to realign certain business groups and reduce the global workforce cost $40.9 million in 2025 (10-K, restructuring note), and a manufacturing facility in Juarez, Mexico was classified as held for sale with a $23.1 million impairment (10-K, Discontinued Operations and Disposal Groups note).

According to its 10-Q for the quarter ended June 30, 2026 (unaudited), net revenues were $1,056,192 thousand for the second quarter, against $1,012,449 thousand a year earlier, and net income was $108,294 thousand, or $1.51 per diluted share, against $124,608 thousand, or $1.72; the quarter included legal settlements and contingencies of $38,714 thousand. In its July 29, 2026 release Align said Clear Aligner volume increased 7.4% year-over-year to 691.8 thousand cases, and that it recorded approximately $37.5 million in the second quarter related to a UK VAT contingency loss. Joseph M. Hogan is President and Chief Executive Officer and John F. Morici is Chief Financial Officer and Executive Vice President, Global Finance (10-Q, Exhibits 31.1 and 31.2). A Form 8-K filed June 22, 2026 says Kevin Conroy, an independent director, was appointed to succeed C. Raymond Larkin, Jr. as Chairman of the Board effective July 1, 2026; a Form 8-K filed July 9, 2026 says Julie Coletti, Executive Vice President, Chief Legal and Regulatory Officer, resigned to join Illumina, Inc., effective August 1, 2026; and a Form 8-K filed August 31, 2026 reports that the board appointed Quentin Blackford on August 27, 2026 and that Andrea L. Saia will resign from the board effective September 23, 2026.

Summary sources:¹²³⁴⁵⁶⁷⁸⁹¹⁰¹¹¹²¹³¹⁴¹⁵¹⁶¹⁷¹⁸

$4,034,964 thousand⁷

Net revenues, 2025 (year ended December 31, 2025)

$2,711,013 thousand⁷

Gross profit, 2025

$369,911 thousand⁷

Research and development, 2025

$545,755 thousand⁷

Income from operations, 2025

$607,628 thousand⁷

Income from operations, 2024

$410,351 thousand⁷

Net income, 2025

$5.65⁷

Net income per share, diluted, 2025

$1,661,185 thousand¹⁹

Net revenues, U.S., 2025

$920,588 thousand¹⁹

Net revenues, Switzerland, 2025

$1,453,191 thousand¹⁹

Net revenues, Other International, 2025

2,611.3 thousand¹

Total case volume (Clear Aligner case shipments), 2025

130,015¹

Active Invisalign-trained doctors, December 31, 2025 (approximate)

$593,223 thousand²⁰

Net cash provided by operating activities, 2025

$102,445 thousand²⁰

Purchase of property, plant and equipment, 2025

$465,939 thousand²⁰

Common stock repurchases, net of excise tax, 2025

$1,094,908 thousand²¹

Cash and cash equivalents, December 31, 2025

$6,233,693 thousand²¹

Total assets, December 31, 2025

$1,261,816 thousand²¹

Deferred revenues, December 31, 2025

$4,049,147 thousand²¹

Total stockholders' equity, December 31, 2025

20,290¹

Employees, December 31, 2025 (approximate)

71,039,852¹¹

Common shares outstanding, July 31, 2026

$1,056,192 thousand¹²

Net revenues, quarter ended June 30, 2026 (unaudited)

$2,096,279 thousand¹²

Net revenues, six months ended June 30, 2026 (unaudited)

$38,714 thousand¹²

Legal settlements and contingencies, quarter ended June 30, 2026 (unaudited)

$108,294 thousand¹²

Net income, quarter ended June 30, 2026 (unaudited)

$1.51¹²

Net income per share, diluted, quarter ended June 30, 2026 (unaudited)

$2.64¹³

Non-GAAP diluted net income per share, quarter ended June 30, 2026 (non-GAAP, as reported by Align)

691.8 thousand cases¹³

Clear Aligner volume, quarter ended June 30, 2026 (as reported by Align)

$343,799 thousand²²

Net cash provided by operating activities, six months ended June 30, 2026 (unaudited)

$1,102,591 thousand²³

Cash and cash equivalents, June 30, 2026 (unaudited)

$6,417,581 thousand²³

Total assets, June 30, 2026 (unaudited)

$1,000M to $1,020M¹³

Worldwide revenues, third quarter of 2026 (company outlook, July 29, 2026)

up 3% to 4% year-over-year¹³

Worldwide revenue growth, 2026 (company outlook, July 29, 2026)

Revenue by fiscal year, as reported in 10-K

Fiscal year	Revenue (as reported in 10-K)	Reported as	Filed
2021	$3,952,584 thousand³	Form 10-K for fiscal year 2021 (year ended December 31, 2021), net revenues, in thousands as filed	Feb 25, 2022
2022	$3,734,635 thousand⁴	Form 10-K for fiscal year 2022 (year ended December 31, 2022), net revenues, in thousands as filed	Feb 27, 2023
2023	$3,862,260 thousand⁵	Form 10-K for fiscal year 2023 (year ended December 31, 2023), net revenues, in thousands as filed	Feb 28, 2024
2024	$3,999,012 thousand⁶	Form 10-K for fiscal year 2024 (year ended December 31, 2024), net revenues, in thousands as filed	Feb 28, 2025
2025	$4,034,964 thousand⁷	Form 10-K for fiscal year 2025 (year ended December 31, 2025), net revenues, in thousands as filed	Feb 27, 2026

Products

Clear Aligner

Name	Released	What it is
Invisalign System	—	A proprietary method for treating malocclusion using a computer-simulated treatment plan and a series of custom clear aligners (10-K for 2025).¹
Invisalign Comprehensive	—	Packages used to treat adults and teens across a wide range of mild to severe malocclusion; the 10-K lists them among its Comprehensive Products.¹
Invisalign First	—	A Phase 1 package designed for younger patients, generally ages six to ten, for early treatment, with a follow-on Comprehensive Phase 2 package (10-K for 2025).¹
Invisalign Moderate, Lite and Express	—	Lower-priced treatment packages for less complex orthodontic cases; the 10-K lists them among its Non-Comprehensive Products.¹
Invisalign Go and Invisalign Go Plus	—	Streamlined non-comprehensive packages designed for general practitioners (GPs) to more easily identify and treat patients (10-K for 2025).¹
Invisalign Palatal Expander	—	Align's first direct 3D printed orthodontic device, used for palatal expansion; the 10-K says it received U.S. 510(k) clearance in December 2023.¹
Invisalign System with mandibular advancement featuring occlusal blocks	—	A treatment for Class II malocclusions in growing patients, generally ages 10 to 16, which the 10-K says expands its Class II treatment portfolio.¹
Vivera retainers	—	Custom clear retainers used to hold tooth position after treatment; Align offers up to four sets (10-K for 2025).¹

Systems and Services

Name	Released	What it is
iTero intraoral scanners	—	Handheld scanners that create digital 3D scans of a patient's teeth, sold as a single hardware platform with restorative or orthodontic software options (10-K for 2025).¹
iTero Lumina	—	An iTero scanner using multi-direct capture technology with a smaller wand, producing photorealistic scans that the 10-K calls clinically comparable to intra-oral photography.¹
exocad	—	CAD/CAM dental software, including restorative dentistry, implantology, guided surgery and smile design, used by dental labs and dental practices; licensed and sold separately (10-K for 2025).¹

Software and platform

Name	Released	What it is
ClinCheck treatment planning software	—	Align's 3D treatment planning software, which generates the treatment plan for the doctor's review; the 10-K calls it the cornerstone of the Align Digital Platform.¹
Invisalign Outcome Simulator Pro	—	A patient communication tool on iTero Element Plus Series and iTero Lumina imaging systems (10-K for 2025).¹
Align Digital Platform	—	An end-to-end digital platform that combines software, systems and services for doctors, labs, patients and consumers, built around Invisalign aligners, iTero scanners and exocad software (10-K for 2025).¹

Segments and products

Clear Aligner: The 10-K's MD&A says the segment consists of Comprehensive Products, Non-Comprehensive Products and Non-Case revenues. Comprehensive Products include, but are not limited to, Invisalign Comprehensive, Invisalign First and Invisalign Comprehensive 3in3; Non-Comprehensive Products include, but are not limited to, Invisalign Moderate, Lite and Express packages, Invisalign Go and Invisalign Go Plus and Invisalign Palatal Expander; Non-Case revenues include, but are not limited to, retention products including retention aligners ordered through the Doctor Subscription Program, Invisalign training, adjusting tools used by dental professionals during treatment and Invisalign Accessory Products such as aligner cases, teeth whitening products, cleaning solutions and other oral health products (10-K, MD&A). As filed, in thousands: net revenues $3,245,404 in 2025, $3,230,122 in 2024 and $3,199,329 in 2023; segment income from operations $1,034,791, $1,142,204 and $1,182,257 (10-K, segment details).²⁴
Systems and Services: Imaging Systems and CAD/CAM services. In the 10-K's words, the segment consists of sales related to iTero intraoral scanning systems, which includes a single hardware platform and restorative or orthodontic software options, scanner wand upgrades and non-system revenues from leases of scanner systems, sales of pre-owned scanner systems, subscription software, disposables, pay per scan services, as well as exocad's CAD/CAM software solutions that integrate workflows to dental labs and dental practices (10-K, MD&A). As filed, in thousands: net revenues $789,560 in 2025, $768,890 in 2024 and $662,931 in 2023; segment income from operations $306,090, $269,222 and $191,355 (10-K, segment details).²⁴
Unallocated corporate expense: Not a segment; corporate expenses not allocated to the two reportable segments. As filed, in thousands: $795,126 in 2025, $803,798 in 2024 and $730,274 in 2023 (10-K, segment details). Align's Chief Operating Decision Maker is its Chief Executive Officer, who uses gross profit and income from operations to assess each reportable segment's performance (10-K, segments note).²⁴
Segment results, second quarter of 2026: As reported in the 10-Q (unaudited), in thousands, quarter ended June 30, 2026 against a year earlier. Net revenues: Clear Aligner $870,874 against $804,617; Systems and Services $185,318 against $207,832. Segment income from operations: Clear Aligner $325,473 against $267,011; Systems and Services $77,652 against $85,737. Unallocated corporate expenses were $249,112 against $189,715.²⁵

Risks

Economic conditions, pricing and competition: Among its risk factors the 10-K says global and regional economic conditions have affected and could in the future materially affect its business, and that competition in the markets for its products and services is increasing, including from direct-to-consumer (DTC) clear aligner companies. In 2025, Align says, a decrease in ASP driven by product mix shift to lower priced products and higher discounts reduced Clear Aligner net revenue by $127 million (10-K, MD&A).¹
Tariffs, trade and currency: The 10-K lists geopolitical events, tariffs and trade policies and military conflicts as risks, notes that Align manufactures clear aligners in its facility in Mexico and ships them to the United States, and says tariffs have resulted and could in the future result in additional costs for its products. It also says it is subject to foreign currency exchange fluctuations, which could have a material adverse effect on its results.¹
Antitrust class actions: The 10-K describes two antitrust class actions in the Northern District of California, City Smiles (filed June 5, 2020) and Misty Snow (filed May 3, 2021). The court granted Align summary judgment on all City Smiles claims and on the Snow Section 2 claims on February 21, 2024; plaintiffs appealed to the Ninth Circuit, which heard oral argument on April 10, 2025. A $31.75 million settlement of the Snow Section 1 claims received final approval on November 21, 2025. The 10-Q for the quarter ended June 30, 2026 says Align accrued $31.8 million for legal settlements as of that date, substantially all of which relates to the Section 2 and related state law claims brought by Misty Snow (10-Q, Legal Proceedings note).²⁶
Patent litigation with Straumann and Angelalign: Align sued ClearCorrect and Institut Straumann AG for patent infringement in the Western District of Texas in April 2024, and the defendants counterclaimed for antitrust violations. According to the 10-Q, on July 2, 2026 the jury returned a verdict in Align's favor on the antitrust and unfair competition claims and found four Align patents infringed, but found the same claims invalid for lack of enablement. Align also has actions against Angelalign entities in the European Unified Patent Court, U.S. courts, the U.S. International Trade Commission and China, and two Angelalign entities have sued Align in the Beijing Intellectual Property Court (10-Q, Legal Proceedings note, unaudited).²⁷
UK VAT contingency: In its July 29, 2026 release Align said the UK Upper Tribunal ruled that clear aligners do not qualify for the VAT exemption, that it has recorded an estimated liability of approximately $37.5 million, inclusive of interest, and that it intends to appeal.¹³
Restructuring: Align began a restructuring in the third quarter of 2025 to realign certain business groups and reduce its global workforce, with total expenses of $40.9 million, mainly severance and other post-employment benefits, of which $17.1 million remained unpaid at December 31, 2025 (10-K, restructuring note). Separately, a Juarez, Mexico manufacturing facility in the Clear Aligner segment was classified as held for sale, with a $23.1 million impairment recorded in cost of net revenues (10-K, Discontinued Operations and Disposal Groups note).⁹
Cybersecurity: The 10-K lists security breaches, data breaches and other cybersecurity incidents as a risk and says Align has experienced, and may again experience, cybersecurity incidents. Its program is led by a Chief Information Security Officer, the board's Audit Committee oversees cybersecurity risks, and Align says it has not identified any risks from known cybersecurity threats that have materially affected it or are reasonably likely to (10-K, Item 1C).¹

Frequently asked questions

What does Align Technology do?: Align Technology is a Tempe, Arizona based medical device company. Its 10-K reports two segments: Clear Aligner, which includes Invisalign clear aligner packages and Vivera retainers, and Systems and Services, which covers iTero intraoral scanners and exocad CAD/CAM software. The 10-K says over 22 million people worldwide have been treated with the Invisalign System to date.
How much revenue did Align Technology make in 2025?: Net revenues were $4,034,964 thousand in 2025, against $3,999,012 thousand in 2024 and $3,862,260 thousand in 2023, according to its 10-K. Its 10-Ks for 2022 and 2021 report net revenues of $3,734,635 thousand and $3,952,584 thousand.
Was Align Technology profitable in 2025?: Yes. Its 10-K reports net income of $410,351 thousand in 2025, or $5.65 per diluted share, against $421,362 thousand, or $5.62 per diluted share, in 2024. Income from operations was $545,755 thousand in 2025 and $607,628 thousand in 2024.
How big is the Invisalign business compared with iTero?: In 2025 the Clear Aligner segment had net revenues of $3,245,404 thousand and segment income from operations of $1,034,791 thousand; Systems and Services, which includes iTero scanners and exocad, had net revenues of $789,560 thousand and segment income from operations of $306,090 thousand (10-K, segment details).
What were Align Technology's latest quarterly results?: For the quarter ended June 30, 2026, its 10-Q (unaudited) reports net revenues of $1,056,192 thousand, against $1,012,449 thousand a year earlier, and net income of $108,294 thousand, or $1.51 per diluted share, against $124,608 thousand, or $1.72. The July 29, 2026 release reports Clear Aligner volume of 691.8 thousand cases and non-GAAP diluted net income per share of $2.64, a non-GAAP measure.
What is Align Technology's outlook for 2026?: In its July 29, 2026 release, assuming no circumstances occur beyond its control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees, Align said it expects Q3 2026 worldwide revenues of $1,000M to $1,020M, which it said is down sequentially from Q2'26, and continues to expect 2026 worldwide revenue growth of 3% to 4% year-over-year. It also said it expects 2026 capital expenditures of $125 million to $150 million and now expects to repurchase $400 million to $500 million of its common stock in 2026. These are the company's own projections, not reported results.
Does Align Technology buy back stock?: Yes. Common stock repurchases, net of excise tax, were $465,939 thousand in 2025, $352,878 thousand in 2024 and $592,360 thousand in 2023 (10-K cash flow statement). They were $98,126 thousand in the six months ended June 30, 2026 (10-Q, unaudited).
Who runs Align Technology?: Joseph M. Hogan is President and Chief Executive Officer and John F. Morici is Chief Financial Officer and Executive Vice President, Global Finance; both certified Align's 10-Q for the quarter ended June 30, 2026. A Form 8-K filed June 22, 2026 says Kevin Conroy succeeded C. Raymond Larkin, Jr. as Chairman of the Board effective July 1, 2026.