Align Tech Q1 rev $973.2M (+8.8% YoY) but EPS $1.70 down 32%; cites headwinds

ALIGN TECHNOLOGY INC

2022-Q1 EPS reported $1.70 revenue$973,219,000

Q1 total revenues $973.2M, up 8.8% YoY, down 5.6% sequentially; Clear Aligner rev $809.7M (+7.5% YoY).
GAAP diluted EPS $1.70 vs $2.51 Q1'21; non-GAAP diluted EPS $2.13 vs $2.49. Net income $134.3M, down 33% YoY.
Invisalign case volume 598.8k (+0.5% YoY, -5.1% sequentially); teen cases 175.2k (+6% YoY).
CEO cites COVID lockdowns (China), weaker consumer confidence, inflation, Ukraine conflict as headwinds.
Q2'22 expects up to $200M stock repurchase; quarter-end cash $1.1B; $650M left under buyback program.

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