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Dec 31, 2025
Align Q4 2025 Earnings Report
Align Technology reported record total revenues and Clear Aligner volumes for the fourth quarter and fiscal year 2025, exceeding expectations with strong growth in key segments and regions.
Key Takeaways
Align Technology concluded Q4 2025 with record total revenues of $1,047.6 million, a 5.3% increase year-over-year, and record Clear Aligner volumes of 676.9 thousand cases, up 7.7% year-over-year. The company also achieved record full-year revenues of $4.0 billion and Clear Aligner volumes of 2.6 million cases, demonstrating strong business fundamentals and operational discipline.
Q4'25 total revenues reached a record $1,047.6 million, up 5.3% year-over-year, driven by strong performance in both Clear Aligner and Systems and Services segments.
Clear Aligner volumes hit a record 676.9 thousand cases in Q4'25, increasing 7.7% year-over-year, with notable strength in EMEA, Latin America, and Asia Pacific regions.
Systems and Services revenues grew 4.2% year-over-year to $209.4 million in Q4'25, primarily due to continued iTero Lumina™ scanner upgrades and higher volume across all regions.
For the full fiscal year 2025, Align Technology reported record total revenues of $4.0 billion and Clear Aligner volumes of 2.6 million cases, reflecting consistent growth and market penetration.
Revenue by Segment
Forward Guidance
Align Technology anticipates continued growth in Q1 2026 and fiscal year 2026, with worldwide revenue expected to increase by 3% to 5% year-over-year in Q1 2026 and 3% to 4% for the full fiscal year. Clear Aligner volume growth is projected to be in the mid-single digits for both periods, and non-GAAP operating margin is expected to improve.
Positive Outlook
- Q1'26 worldwide revenues are projected to be in the range of $1,010M to $1,030M, representing a 3% to 5% year-over-year increase.
- Clear Aligner volume is expected to grow by mid-single digits year-over-year in Q1'26 and for fiscal 2026.
- Clear Aligner average selling price (ASP) is anticipated to increase sequentially in Q1'26 due to a favorable geographic mix.
- The 2026 GAAP operating margin is expected to be slightly below 18.0%, a 400 basis points improvement over 2025, with non-GAAP operating margin at approximately 23.7%, a 100 basis points improvement year-over-year.
- Investments in capital expenditures for fiscal 2026 are planned between $125 million and $150 million, focusing on technology upgrades and manufacturing capacity.
Challenges Ahead
- Systems & Services revenue is expected to be down sequentially in Q1'26, consistent with typical Q1 seasonality.
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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