Align Technology Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance And More
Portfolio Pulse from Adam Eckert
Align Technology Inc (NASDAQ:ALGN) reported Q4 earnings with a revenue increase of 6.1% YOY to $956.7 million, surpassing estimates of $933.67 million. Adjusted EPS was $2.42, beating estimates of $2.18. Growth was driven by higher clear aligner volumes, expansion in Canada and EMEA, and increased systems and services revenues. The company introduced iTero Lumina, a new intraoral scanner. Q1 revenue is projected between $960 million and $980 million, above estimates of $946.854 million. Post-earnings, ALGN shares rose 12.30% to $300.00 after hours.
January 31, 2024 | 9:20 pm
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Align Technology reported strong Q4 earnings with revenue and EPS beats, and introduced a new product, iTero Lumina. The company provided strong Q1 guidance, leading to a 12.30% increase in share price after hours.
The positive earnings report and the introduction of a new product, combined with a revenue forecast that exceeds expectations, are likely to instill investor confidence and maintain the upward momentum in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100