Align Technology (NSDQ:ALGN) this week posted third-quarter results that beat the overall consensus on Wall Street.
The Tempe, Arizona-based Invisalign clear dental aligner maker reported profits of $180.9 million, or $2.28 per share, on sales of $1.01 billion for the three months ended September 30, for a bottom-line gain of 29.8% on sales growth of 38.39% compared with Q3 2020.
Adjusted to exclude one-time items, earnings per share were $2.87, 28¢ ahead of The Street, where analysts were looking for sales of $977.8 million.
“I’m pleased to report strong third-quarter results with revenue growth of 38.4% year over year — on top of a record third quarter last year — driven by strength across all regions, customer channels, and products. For Q3 we shipped to a record 85.5 thousand doctors in the quarter and reached 11.6 million Invisalign patients cumulatively. On a sequential basis, Q3 results reflect continued adoption of iTero scanners and increased utilization of Invisalign clear aligners in the Americas and APAC regions, as well as growth in the Teen segment, especially in the North America orthodontist channel. Our third-quarter revenues reflect the growing confidence of doctors and patients with Invisalign treatment, iTero scanners and exocad software, as more doctors discover the benefits of digital treatment and transform their practices with the Align Digital Platform,’ president and CEO Joe Hogan said in a news release.
Align Technology expects full-year 2021 net revenues to be in the range of $3.90 billion to $3.95 billion for a growth of 58% to 60% over 2020.
Shares in ALGN were up 4.20% to $629.78 apiece in mid-morning trading.