Align Technology

Align Technology (Nasdaq:ALGN) announced today that it entered into a new accelerated stock repurchase agreement with Citibank.

Tempe, Arizona-based Align agreed to repurchase $250 million of its common stock. It falls under its $1 billion stock repurchase agreement announced in May 2021. The company’s most recent buyback took place in October 2022 through a $200 million repurchase with Goldman Sachs.

In this agreement, two of the dental technology company’s executives personally agreed to buy significant amounts of common stock. President and CEO Joe Hogan intends to purchase $1 million. CFO and EVP of Global Finance John Morici plans to buy $200,000 in common stock.

Under the terms of the repurchase, Align initially received approximately 580,000 shares of common stock. The final number of shares depends on Align’s volume-weighted stock price during the term of the deal. Align expects to complete the transaction by April 26, 2023, fun…

Align Technology (Nasdaq:ALGN) this week announced fourth-quarter results that beat the overall consensus on Wall Street.

The Tempe, Arizona-based dental aligner maker reported profits of $41.8 million, or 54¢ per share, on sales of $901.5 million for the three months ended December 31, 2022, for a bottom-line loss of 78.1% on sales loss of 12.6% compared with Q4 2021.

Adjusted to exclude one-time items, earnings per share were $1.73, 20¢ ahead of The Street, where analysts were looking for sales of $881.9 million.

“Overall, I’m pleased to report fourth-quarter results that reflect a more stable environment for doctors and their patients than recent quarters, especially in the Americas and EMEA regions, as well as most APAC markets outside of China. Throughout Q4, trends in consumer interest for orthodontic treatment, patient traffic in doctor’s practices, and iTero scanner demos continued to improve. However, the unfavorable effect of …

Align Technology (Nasdaq:ALGN) announced today that it entered into a new, accelerated stock repurchase agreement with Goldman Sachs.

Tempe, Arizona-based Align agreed to repurchase $200 million of its common stock under its $1 billion stock repurchase program. The company initially announced its repurchase program in May 2021.

Shares of ALGN opened the day up 2.1% at $192.56 apiece.

In addition to the accelerated agreement, Align President and CEO Joe Hogan intends to personally purchase $2 million of Align’s common stock. That adds to the $2 million purchase he made in May.

Under the terms of the agreement, Align initially plans to receive approximately 849,000 shares. The final number of shares for repurchase rests upon the company’s volume-weighted stock price during the term of the repurchase program. Align intends to fund the transaction with cash on hand. It expects to complete the transaction by approximately Feb. 1, 2023.

Align Technology (Nasdaq:ALGN) shares took a massive hit today — a day after it reported Q3 results well short of the consensus forecast.

ALGN shares fell 15.9% to $186.35 apiece in mid-morning trading. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 1.3%.

The Tempe, Arizona-based dental technology company — maker of Invisalign clear aligners — posted profits of $72.7 million, or 93¢ per share, for the quarter. It registered sales of $890.3 million for the three months ended Sept. 30, 2022. That amounts to a 59.8% bottom-line slide on a sales decline of 12.4% year-over-year.

Adjusted to exclude one-time items, earnings per share totaled $1.36. That falls well short of expectations on Wall Street, where analysts projected EPS of $2.18. Align Technology’s revenues fell short, too, as analysts looked for sales to reach $952.6 million.

“Our third quarter results refl…

Align Technology (Nasdaq:ALGN) announced that it unveiled its latest iTero-exocad Connector software.

Tempe, Arizona-based Align designs its iTero-exocad Connector software for digital orthodontics and restorative dentistry. It integrates the iTero intraoral camera and NIRI images within the exocad DentalCAD 3.1 Rijeka software. The company introduced it yesterday at the exocad Insights 2022 event in Mallorca, Spain.

According to a news release, this integration supports the goal of a seamless, end-to-end workflow for doctors and lab technicians. It optimizes the design and fabrication of highly esthetic restorations, the company said. This allows dental professionals to visualize the internal and external structure of teeth.

Using the software, lab technicians can download files via the software. Then, they can design within the exocad DentalCAD platform in just one click.

“With the iTero scanner’s origins in restorative dentistry, this latest in…

Tempe, Arizona-based Align designed the next-generation platform to streamline workflows for doctors and their staff. Features include patient enrollment, setup, and review directly on the Invisalign Doctor Site. This eliminates the need to use separate standalone solutions.

Assisted by artificial intelligence (AI), the solution helps doctors remotely monitor Invisalign treatment progress. They base progress on their own pre-approved clinical settings and AI-assisted algorithms for automatic assessment. AI-assisted automated notifications — based on doctor settings — guide patients through the stages of their treatment. Patients send photos with every aligner change and receive progress notifications on the mobile app.

“Align is committed to continuous innovation in digital orthodontics and I am very excited about our n…

The regional facility opened in Wroclaw, Poland. It represents Align’s third regional manufacturing facility globally, joining the existing ones in Juarez, Mexico, and Ziyang, China.

Align said in a news release that the state-of-the-art facility will serve as an operations site for EMEA business. It will be part of the global manufacturing of nearly 1 million clear dental aligner parts per day. The grand opening ceremony took place yesterday, Sept. 15, 2022.

Tempe, Arizona-based Align said the facility is expected to add more than 2,500 jobs by the end of 2025. This would make it the company’s largest investment in the EMEA region to date. The building has an 80,000m2 surface and follows Align sustainability norms, including LEED and ISO14001 certificates.

It began operations in th…

Align Technology (NSDQ:ALGN) today announced that it entered a new accelerated stock repurchase agreement worth up to $200 million.

Tempe, Arizona-based Align may repurchase $200 million of common stock under the $1 billion stock repurchase program announced in May last year. CEO Joe Hogan intends to purchase $2 million of Align’s common stock as well.

Under the terms of the accelerated stock repurchase program, Align will receive an initial delivery of approximately 552,000 shares. The number of shares to be repurchased will also be based on Align’s volume-weighted average stock price during the term of the accelerated stock repurchase and will be completed approximately July 26 and will be funded with Align’s cash on hand.

“We’re pleased to announce a $200 million accelerated stock repurchase program, which reflects the strength of our balance sheet and cash flow generation, as well as management’s and the Board’s continue…

Align Technology (NSDQ:ALGN) shares dipped slightly today despite fourth-quarter results that topped the consensus forecast.

The Tempe, Arizona-based dental technology company posted profits of $191 million, or $2.40 per share, on sales of $1.031 billion for the three months ended Dec. 31, 2021, for a 20.1% bottom-line gain on sales growth of 23.6%. Align’s revenue total represents a record for the company.

Adjusted to exclude one-time items, earnings per share were $2.83, 10¢ ahead of Wall Street, where analysts were looking for sales of $1.03 billion.

“Overall, I’m very pleased to report fourth-quarter results and another record year for Align,” Align Technology President and CEO Joe Hogan said in a news release.

Align said that, despite potential COVID-19 headwinds, it expects 2022 revenue growth between 20% and 30%.

ALGN shares were down 1.5% at $498. MassDevice’s MedTech 100 Index — which includes stocks of the world&…

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 …

Align Technology (NSDQ:ALGN) shares shot up today on second-quarter results that came in ahead of the consensus forecast.

ALGN shares were up 9.4% at $680.27 per share in late-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.9%.

The Tempe, Ariz.-based company posted profits of $199.7 million, or $2.51 per share, on sales of $1 billion for the three months ended June 30, 2021, for a bottom-line gain from losses of $40.6 million this time last year as it nearly tripled last year’s second-quarter sales.

Adjusted to exclude one-time items, earnings per share were $3.04, 49¢ ahead of Wall Street, where analysts were looking for sales of $937.9 million.

“I’m pleased to report our first $1 billion revenue quarter with record volumes reflecting continued momentum from both Clear Aligners and Systems and Services,” Align Technology president &a…