Invisalign manufacturer Align Technology surpassed $1 billion in total revenues during the second quarter of 2024, according to a July 24 financial report.
Here are nine additional notes:
- The mark of $1.03 billion in total revenues in the second quarter of 2024 increased 3.1% sequentially and 2.6% year-over-year.
- The company's GAAP net income for the second quarter of 2024 was $96.6 million, a decrease of 8.1% over the first quarter of 2024 and a decrease of 13.6% from the second quarter of 2023.
- Clear aligner revenues totaled $831.7 million and imaging systems and CAD/CAM services totaled $196.8 million in the second quarter of 2024.
- Clear aligner shipments surpassed 642,000 in the second quarter of 2024, more than 40,000 more than in the first quarter.
- Align Technology recorded its highest number of adult Invisalign shipments in eight quarters during the second quarter of 2024.
- The total number of Invisalign patients around the globe surpassed 18 million individuals.
- During the second quarter, Align Technology purchased about 600,000 shares of its common stock through $150 million of open market repurchases. The company still has $500 million available to repurchase its common stock.
- Third quarter revenues are projected to be between $980 million and $1 billion.
- Align Technology is expecting its fiscal 2024 total revenue growth to be up between 4% and 6%.