Align Surges on Big Teen Demand Boost
Align Technology (ALGN:US) saw its stock open as much as 19% higher on Thursday after the clean aligner manufacturer reported solid Q2 results.
The company’s EPS of $2.22 on revenue of $1 billion came in ahead of the consensus that was looking for adjusted EPS of $2.02 on revenue of $990 million.
Align generated $832.7 million from its Clear Aligner business, which saw sales jump 4.3% year-over-year, offsetting a decline in revenue for Imaging Systems & CAD/CAM business.
"Overall, I’m pleased to report another better than expected quarter with Q2 revenues and operating margins that exceeded our guidance. Q2 results reflect improving trends across regions and strength in teen and younger patient volumes, driven by momentum in both submitters and utilization as well as continued growth from Invisalign First,” Align Technology President and CEO Joe Hogan said.
Hogan noted that Align enjoyed strong demand for Invisalign clear aligners from the teen population, which it says “represents the largest portion of the 21 million annual orthodontic case starts.” Overall, the growth in this segment was the highest since 2021.
For this quarter, the company sees revenue in the range of $990 million to $1.01 billion. On a full-year basis, Align sees revenue of $3.98 billion (up or down $10 million).
Congressmen Josh Gottheimer and Ro Khanna were buying the ALGN stock earlier this year, as well as Senator Dan Sullivan. The stock is up more than 90% year-to-date following a surge on Thursday.
