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Sep 30, 2024
Align Q3 2024 Earnings Report
Align's Q3 2024 results reflected strong Systems and Services year-over-year revenue growth, as well as good Clear Aligner volume in the Asia Pacific, EMEA and Latin America regions, partially offset by declines in the U.S.
Key Takeaways
Align Technology's Q3 2024 total revenues were $977.9 million, up 1.8% year-over-year. Diluted net income per share was $1.55, or $2.35 on a non-GAAP diluted basis. The company expects to repurchase up to $275.0 million of its common stock beginning in Q4'24.
Q3'24 total revenues of $977.9 million, increased 1.8% year-over-year.
Q3'24 diluted net income per share was $1.55, or $2.35 on a non-GAAP diluted basis.
Q3'24 operating income of $162.3 million and operating margin of 16.6%, non-GAAP operating margin of 22.1%.
Q3'24 Imaging Systems and CAD/CAM Services revenues of $191.0 million, increased 15.6% year-over-year.
Revenue by Segment
Forward Guidance
For Q4'24, Align expects worldwide revenues to be in the range of $995M to $1,015M. We expect Clear Aligner volume and ASP to be slightly up sequentially. We also expect Systems and Services revenue to be up in Q4'24 sequentially consistent with typical Q4 seasonality. We expect Q4’24 GAAP operating margin to be slightly lower than 14.0% primarily due to restructuring charges related to severance as we adjust headcount for the existing business environment. We anticipate Q4’24 non-GAAP operating margin to be slightly up sequentially. For fiscal 2024, we expect investments in capital expenditures to be above $100M.
Positive Outlook
- Worldwide revenues to be in the range of $995M to $1,015M.
- Clear Aligner volume and ASP to be slightly up sequentially.
- Systems and Services revenue to be up in Q4'24 sequentially consistent with typical Q4 seasonality.
- Non-GAAP operating margin to be slightly up sequentially.
Challenges Ahead
- GAAP operating margin to be slightly lower than 14.0% primarily due to restructuring charges related to severance.
- Restructuring charges to impact Q4’24 GAAP operating margin by approximately 3 points.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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