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Dec 31, 2021
Align Q4 2021 Earnings Report
Announced record fourth quarter and fiscal year 2021 financial results.
Key Takeaways
Align Technology reported a record fourth quarter with total revenues up 23.6% year-over-year to $1.03 billion. Full year net revenues of $4.0 billion and operating margin of 24.7% were both at the high end of the company's guidance for fiscal 2021.
Q4 total revenues up 23.6% year-over-year to a record $1.03 billion
Q4 operating income up 3.6% year-over-year to $220.9 million and operating margin of 21.4%
Q4 diluted net income per share of $2.40; Q4 non-GAAP diluted net income per share of $2.83
During 2021, Align achieved several major installed base milestones including 12 millionth Invisalign patient, 68 thousandth iTero scanner sold, and 47 thousandth exocad software license sold.
Align
Align
Align Revenue by Segment
Revenue by Segment
Imaging Systems and CAD/CAM Services Revenue
CapyFin.com Forward Guidance
Net revenues growth is expected to be within the long-term model range of 20% to 30%. On a GAAP basis, Align anticipates its 2022 operating margin to be around 24.0%. Non-GAAP operating margin is expected to be approximately 3 points higher than GAAP operating margin.
Challenges Ahead
- The Omicron headwind
- Our 2022 guidance assumes no significant new surges after the current wave
- Our 2022 guidance assumes no meaningful practice disruptions
- Our 2022 guidance assumes no material supply chain issues throughout the year