Align Technology (ALGN) Tops Q2 EPS by 21c, Revenues Beat; Offers 3Q EPS Outlook Below Consensus

July 25, 2018 4:02 PM EDT

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Align Technology (NASDAQ: ALGN) reported Q2 EPS of $1.30, $0.21 better than the analyst estimate of $1.09. Revenue for the quarter came in at $490.3 million versus the consensus estimate of $471.88 million.

  • Q2 revenues up 37.5% year-over-year to a record $490.3 million, and diluted EPS of $1.30
  • Q2 operating income up 46.8% year-over-year to $122.7 million, operating margin of 25.0%
  • Q2 total Invisalign case shipments up 30.5% year-over-year to 302.7 thousand
  • Q2 Invisalign cases for teenage patients up 42.1% year-over-year to 78.4 thousand
  • Q2 iTero scanner and services revenues up 60.9% year-over-year to $57.0 million

Commenting on Align’s Q2 2018 results, Align Technology President and CEO Joe Hogan said, “I’m pleased to report another better than expected quarter for Align. Our second quarter results reflect strong growth across our customer channels with record volume in all regions and in almost every country market. Year-over-year revenue growth of 37.5% was driven by continued momentum from Invisalign doctors and increased adoption of Invisalign treatment for teenage patients which grew 42.1%. Q2 Invisalign volume growth of 30.5% year-over-year reflects increased utilization and expansion of our customer base, which was over 50,000 for the first time and included more than 5,000 new Invisalign-trained doctors. We also saw momentum from the iTero scanner and services business which includes the continued rollout of iTero scanners across Heartland Dental’s installed base, as well as the first iTero scanner shipments to China.”

Q3 2018 Business Outlook

For the third quarter of 2018 (Q3’18), Align provides the following guidance:

  • Net revenues in the range of $493 million to $503 million, up approximately 28% to 31% over the same period a year ago
  • Invisalign case shipments in the range of 302 thousand to 307 thousand, up approximately 28% to 30% over the same period a year ago
  • Operating margin in the range of 24.2% to 24.9%
  • Diluted EPS in the range of $1.13 to $1.18


Align Technology sees Q3 2018 EPS of $1.13-$1.18, versus the consensus of $1.19. Align Technology sees Q3 2018 revenue of $493-503 million, versus the consensus of $500.42 million.

For earnings history and earnings-related data on Align Technology (ALGN) click here.

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