ALIGN TECHNOLOGY ANNOUNCES FOURTH QUARTER AND FISCAL 2019 FINANCIAL RESULTS
Achieves 8 Millionth Invisalign Patient Milestone
- 2019 revenues up 22.4% to a record $2.4 billion, clear aligner revenues a record $2 billion
- 2019 diluted EPS of $5.53
- 2019 Invisalign volume up 24.2% to a record of 1.5 million cases
- 2019 iTero scanner and services revenues up 38.5% to a record $381.0 million
- Q4 total revenues up 21.7% year-over-year to $649.8 million, and diluted EPS of $1.53
- Q4 Invisalign volume up 23.9% year-over-year to 413.7 thousand cases
- Q4 scanner and services revenues up 20.2% year-over-year to $106.2 million
- Q4 operating income up 25.5% year-over-year to $151.2 million and operating margin of 23.3%
SAN JOSE, Calif., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Align Technology, Inc. (Nasdaq: ALGN) today reported financial results for the fourth quarter (Q4’19) and year ended December 31, 2019 (2019). Q4’19 total revenues were $649.8 million, up 21.7% year-over-year. Q4’19 clear aligner revenues were $543.6 million, up 22.0% year-over-year and Q4’19 scanner and services revenues were $106.2 million, up 20.2% year-over-year. Q4’19 Invisalign volume was 413.7 thousand cases, up 23.9% year-over-year. For the Americas and International regions, Q4’19 Invisalign volume was up 19.3% and 30.1% year-over-year, respectively. Q4’19 Invisalign volume for teenage patients was 116 thousand cases, up 33.1% year-over-year. Q4’19 operating income of $151.2 million was up 25.5% year-over-year resulting in an operating margin of 23.3%. Q4’19 net income was $121.3 million, or $1.53 per diluted share.
For 2019, total revenues were a record $2.4 billion, up 22.4% year-over-year. Record 2019 clear aligner revenues were $2.0 billion, up 19.8% year-over-year and Invisalign case shipments were 1.5 million, up 24.2% year-over-year. Record 2019 iTero scanner and services revenue were $381.0 million, up 38.5% year-over-year with record volume, up 29.7% year-over-year. 2019 Invisalign cases for teenage patients were 446.7 thousand, up 34.1% year-over-year. 2019 net profit was $442.8 million, or $5.53 per diluted share.
Commenting on Align’s Q4’19 and 2019 results, Align Technology President and CEO Joe Hogan said, “Our fourth quarter was a strong finish to a great year with record revenues and volumes. Q4’19 Invisalign shipments increased 23.9% year-over-year and marked another major milestone with our 8 millionth Invisalign patient who started treatment in December. Q4’19 iTero scanner and services revenues increased 20.2% year-over-year with strong growth especially from international doctors. For the full year, revenues of $2.4 billion reflect record revenues and volumes for both Invisalign clear aligners and iTero scanners. During the year, over 1.5 million people started treatment with Invisalign clear aligners, including 447 thousand teens and younger patients which increased 34.1%.”
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