Align Technology, Inc. (ALGN)

The past six months have seen several events impacting Align Technology's stock. In July 2025, the company reported disappointing Q2 2025 earnings and revenue, missing Wall Street expectations due to sluggish sales in Europe and North America, leading to job cuts and scaling back operations. In September 2025, Align Technology initiated a patent infringement lawsuit against Angelalign and filed a complaint under the Tariff Act. The company's Q3 2025 earnings, reported in October 2025, again fell short of estimates. As of January 6, 2026, the share price was $167.66, representing a 22.94% decline from $217.56 on January 7, 2025. Earlier in May 2025, the company's board approved a new stock repurchase program, and Align Technology agreed to pay $31 million to settle allegations of anticompetitive conduct.

Demand for Align Technology's products and services experiences softness during the summer seasonality in regions like EMEA and North America. Orthodontic procedures are sensitive to consumer confidence and economic conditions. Q2 2025 saw sluggish sales in Europe and North America, with clear aligner revenues falling year-over-year. Conversely, there can be periods of increased demand, and the company's performance is influenced by broader dental industry trends.

Align Technology, Inc. is a global medical device company specializing in orthodontic and restorative dental solutions, operating within the Health Care sector, specifically in the Medical Equipment and Industrial Specialties industries. The company's primary offerings include the Invisalign system of clear aligners, Vivera retainers, iTero intraoral scanners and associated services, as well as exocad CAD/CAM software solutions. These products form an integrated digital platform aimed at providing end-to-end solutions for patients, orthodontists, general dental practitioners, and dental laboratories.

Align Technology's corporate headquarters is located in Tempe, Arizona, U.S., and it maintains a significant global presence, serving over 100 countries worldwide. Operational and manufacturing facilities are spread across various regions, including the U.S., Costa Rica, Mexico, Poland, Israel, and China. The company also has offices in Switzerland, Brazil, and Singapore, and operates subsidiaries in Hong Kong and Australia. Geographically, net sales are distributed with 42.4% from the United States, 24.6% from Switzerland, and 33% from other regions.

Align Technology maintains a strong brand reputation as the leader in the global clear aligners market, primarily due to its Invisalign system and digital treatment ecosystem. The company is recognized for its continuous innovation. Positive developments include being named an official partner of Bay FC and awarding grants to universities for research. However, the company has faced criticism for remaining in the Russian market, investigations for potential securities law violations, and a settlement regarding allegations of anticompetitive conduct. The premium pricing of Invisalign has also been a point of discussion.

Align Technology's ownership structure is predominantly institutional, with institutional investors collectively holding between 79.5% and 93.16% of the company's shares. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., Capital International Investors, State Street Corp, Ninety One UK Ltd, T. Rowe Price Investment Management, Inc., Wellington Management Group Llp, and Geode Capital Management, Llc. Insider ownership was reported at 1.89% as of June 2025, and Joseph Lacob is a significant individual shareholder.