Align Q4 2021 Earnings Report
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.
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Align Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income