Align Technology, Inc. reported a total revenue of $3.999 billion for the fiscal year ending December 31, 2024, marking a 3.5% increase from $3.862 billion in 2023. The Clear Aligner segment, which includes the popular Invisalign product, generated $3.230 billion, a 1.0% increase year-over-year, while the Systems and Services segment saw a more significant growth of 16.0%, reaching $768.9 million. The company’s net income for the year was $421.4 million, with diluted earnings per share at $5.62, down from $5.81 in the previous year.
The financial performance reflects a mixed landscape compared to the previous fiscal period. Notably, Clear Aligner revenues in the Americas decreased by 2.5% to $1.426 billion, primarily due to a 3.0% decline in average selling prices (ASP) driven by a shift towards lower-priced products and increased promotional discounts. In contrast, international revenues in the Clear Aligner segment increased by 3.5% to $1.500 billion, supported by a 7.0% increase in case volume. The overall increase in revenue was bolstered by a rise in Systems and Services revenue, attributed to higher scanner ASPs and increased sales of upgrade systems.
Strategically, Align Technology made significant moves in 2024, including the acquisition of Cubicure GmbH, a company specializing in 3D printing solutions, which is expected to enhance Align's manufacturing capabilities and support its long-term growth strategy. The company also launched several new products, including the iTero Lumina intraoral scanner and the Invisalign Palatal Expander System, aimed at expanding its product offerings and improving treatment options for patients.
Operationally, Align Technology reported approximately 130,370 active Invisalign-trained doctors as of December 31, 2024, a slight increase from the previous year. The total case volume for Clear Aligners reached 2.494 million, reflecting a 3.5% increase year-over-year. The company continues to focus on international expansion, with operations in over 100 countries, and aims to increase its market share in the orthodontic sector, particularly among general dental practitioners and younger patients.
Looking ahead, Align Technology anticipates continued growth despite macroeconomic challenges, including inflation and geopolitical tensions. The company plans to invest in expanding its manufacturing and treatment planning capabilities while enhancing its digital platform to meet evolving customer demands. Align expects that the ongoing adoption of digital dentistry and the increasing utilization of its products will drive future revenue growth, although it acknowledges potential fluctuations in demand due to external economic factors.
About ALIGN TECHNOLOGY INC
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