Align Technology Publishes financial results for the third quarter of 2022

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  • Today, fiscal year 2022, a leading global medical device company that designs, manufactures and markets the Invisalign® system of clear aligners, the iTero™ intraoral scanner, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry We announced our third quarter results. (“Q3 2022”). Total revenue for the third quarter of 2022 was $890.3 million, down 8.2% sequentially and down 12.4% year-over-year. Clear Aligner’s third-quarter 2022 revenues were $732.8 million, down 8.2% sequentially and down 12.5% ​​year-over-year.

The volume of clear aligners fell by 11.9% year over year and 3.6% sequentially in Q3 2022. Revenue from imaging systems and CAD/CAM services was $157.5 million in the third quarter of 2022, down 8.0% from the previous quarter and down 11.7% from the same period last year. Sales of clear aligners were over $21 million, or 2.8% sequentially, $47.4 million, or 6.1% sequentially, and roughly $4.1 million, or roughly $4.1 million sequentially, impacted by exchange rates, in the third quarter of 2022.

2.5%, and approximately $9.9 million q-o-q or 5.9% y-o-y (1) Operating income for the third quarter of 2022 was $143.7 million, corresponding to an operating margin of 16.1%. Net income for the third quarter of 2022 was $72.7 million, or $0.93 per diluted share. On a non-GAAP basis, third-quarter net income was $22,106.5 million, or $1.36 per diluted share.

The third quarter total sales declined $25.1 million (2.7%) sequentially and $57.4 million (6.1%) year-over-year on a constant currency basis, according to Align Technology President and CEO Joe Hogan. This quarter’s impact on foreign exchange rates is among the highest. Despite persistent economic headwinds, confident in executing on strategic growth drivers. In Q3, we passed the 14 million patient mark for Invisalign, which includes approximately 4 million teenagers and children as young as 6 years old who have received treatment with the transparent aligners from Invisalign.

Invisalign Practice App, Invisalign Personal Plan, Invisalign Smile ArchitectTM, the Invisalign Outcome Simulator Pro with in-face visualization, Cone Beam Computed Tomography integration with ClinCheck software, Invisalign Virtual Care AI software, and the iTero-exocad ConnectorTM all saw the start of commercialization during the quarter.

Additionally, the 200 thousand new cases for teens that began in Q3 were up 13% sequentially and down somewhat from Q3’21, when a record 206 thousand teenagers began receiving Invisalign treatment. We are also thrilled to be introducing a number of new products and technologies that improve the Align Digital PlatformTM further, which is driving the digital transformation of dental practices.

These technological developments represent a significant improvement to our digital platform, which will, in our opinion, enable our doctor customers to provide better clinical outcomes and patient experiences while also increasing treatment efficiency, positioning us to drive growth when the markets eventually recover.

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