Q3 2024 Align Technology Inc Earnings Call Transcript
Key Points
- Align Technology Inc (ALGN) reported strong year-over-year revenue growth in its systems and services segment, with a 15.6% increase.
- The company achieved record numbers in doctor submitters and teen case starts, particularly in China, indicating strong market penetration.
- Align Technology Inc (ALGN) saw significant growth in the Asia Pacific, EMEA, and Latin American regions, helping to offset declines in the U.S. market.
- The introduction of the iTero Lumina scanner with new technology has been well-received, contributing to higher scanner ASPs and increased non-system revenues.
- Align Technology Inc (ALGN) is making strategic investments in next-generation technologies like direct 3D printing and 5-minute ClinCheck, which are expected to drive future growth.
- The U.S. market remains sluggish, with declines in clear aligner volumes, reflecting weak consumer sentiment and a soft dental market.
- Total revenues for Q3 were slightly below the company's outlook due to more pronounced seasonality and continued weak consumer sentiment.
- The company announced a global reorganization and restructuring, resulting in job eliminations, which indicates internal challenges.
- Align Technology Inc (ALGN) faced a decrease in clear aligner ASPs due to higher discounts, product mix shifts, and geographic mix.
- Operating expenses increased year over year, primarily due to employee compensation, impacting overall profitability.
Greetings, welcome to the Align third-quarter, 2024 earnings call. (Operator Instructions) Please note this conference is being recorded. I will now turn the conference over to your host, Shirley Stacy with Align Technology. You may begin.
Good afternoon and thank you for joining us. I'm Shirley Stacy, Vice President of Corporate Communications and Investor Relations. Joining me for today's call is Joe Hogan, President and CEO; and John Morici, CFO. We issued third quarter 2024 financial results today via Business Wire, which is available on our website at investor.aligntech.com.
Today's conference call is being audio webcast and will be archived on our website for approximately 1 month. As a reminder, the information provided and discussed today will include forward-looking statements, including statements about Align's future events and product outlook.
These forward-looking statements are only predictions and involve risks and uncertainties that are described in
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
