Align Q1 revenue up 5.8% YoY to $997.4M; raises FY24 revenue outlook; invests $75M in Heartland

ALIGN TECHNOLOGY INC

2024-Q1 EPS reported $1.39 revenue$997,431,000

Q1 GAAP EPS $1.39, non-GAAP $2.14; revenue $997.4M beat prior expectations.
Clear Aligner revenue $817.3M (+3.5% YoY) on 605K cases; Systems & Services $180.2M (+17.5%).
FY24 revenue outlook raised to +6-8% YoY (from mid-single digit); Q2 guide $1,030-1,050M.
Acquired <5% equity in Heartland Dental for $75M under existing stockholder agreements.
$650M remaining in share repurchase program; Q2 buyback up to $150M expected.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ALIGN TECHNOLOGY INC reported first quarter ended March 31, 2024 results: revenue $997.4 million, net income $105.0 million, EPS $1.39.

Period: first quarter ended March 31, 2024
Revenue: $997.4 million
Net income: $105.0 million
EPS: $1.39
Result: reported results

Exact text from the filing

revenues up 5.8% year-over-year including revenue growth of 3.5% from Clear Aligners and growth of 17.5% from Imaging Systems and CAD/CAM Services • Q1'24 total revenues of $997.4 million, increased 5.8% year-over-year, and diluted net income per share of $1.39, non-GAAP diluted net income per share of $2.14 • Q1'24 revenues were favorably impacted by foreign

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALIGN TECHNOLOGY INC entered into Subscription Agreement with Heartland Dental Holding Corporation valued at $75 million (effective 2024-04-22).

Action: entry
Agreement: equity purchase
Counterparty: Heartland Dental Holding Corporation
Value: $75 million
Effective: 2024-04-22

Exact text from the filing

On April 22, 2024, Align Technology, Inc. (“Align”) and Heartland Dental Holding Corporation (“Heartland”) entered into a Subscription Agreement (the “Subscription Agreement”), which provides, among other things, for Align to acquire less than a 5% equity interest in Heartland through the purchase of Class A Common Stock for $75 million

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ALIGN TECHNOLOGY INC filing history →

Source: SEC EDGAR

accession 0001097149-24-000026

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