Align Technology, Inc. (ALGN)

In Q1 2026, Align Technology reported revenues of $1.04 billion, exceeding expectations due to higher clear aligner volumes and increased average selling prices. Clear Aligner shipments reached 685,700 cases, a 6.7% year-over-year increase. In May 2026, a new $200 million stock repurchase program was announced. The company introduced three new orthodontic tools at the AAO 2026 Annual Session. In November 2025, analysts noted concerns about sluggish revenue growth and declining profit margins after a multiyear decline from pandemic highs. The impact of the war in the Middle East was deemed immaterial in Q1 2026.

Demand for Align Technology's products exhibits some seasonality, with a sequential decrease in Systems & Services revenue in the first quarter. Winter is often suggested as a good time to begin Invisalign treatment, allowing progress by summer, while summer offers flexibility for younger patients. However, treatment generally takes about a year, so patients will likely wear aligners through all seasons.

Align Technology, Inc. is a global medical device company in the Healthcare sector, specializing in orthodontic and restorative dentistry solutions. It is known for digital technology in orthodontics, with products like the Invisalign system, iTero intraoral scanners, Vivera retainers, and exocad CAD/CAM software. The Invisalign system, approved by the FDA in 1998, is a leading product in the clear aligner market.

Align Technology is headquartered in Tempe, Arizona, U.S. Manufacturing is primarily in Juarez, Mexico, with facilities in Israel and China for scanners, and a new plant in Poland for aligners. Treatment planning facilities are in Costa Rica, Poland, Germany, and Spain. Direct sales are conducted in the United States, Canada, Europe, Israel, the Middle East, Russia, Turkey, Pan Asia, China, and Japan. Additional offices are located in Morrisville, North Carolina; San Jose, California; São Paulo, Brazil; and Zug, Switzerland.

Align Technology maintains a strong brand reputation as the leader in clear aligners, holding a market share between 80% and 90.5% in the doctor-directed category. By 2026, 22 million patients had been treated with Invisalign. The company focuses on innovation, including products like Invisalign First and the Invisalign Palatal Expander System. In September 2025, Align Technology filed a complaint against Angelalign Technology, Inc., alleging patent infringement.

Align Technology's ownership is predominantly institutional, with major shareholders including Vanguard Group Inc., Capital International Investors, BlackRock, Inc., and State Street Corp. Joseph Lacob is a significant individual shareholder, owning 3.84 million shares, representing 5.38% of the company. Gordon Zachary Gund also holds a substantial individual stake.