Align Technology Sees Q3 2024 Revenue $980M-$1B Vs $1.03B Estimate
Portfolio Pulse from Benzinga Newsdesk
Align Technology has provided a Q3 2024 revenue outlook of $980M-$1B, below the $1.03B estimate. The company expects a sequential decline in Clear Aligner volume and ASPs due to seasonality and foreign exchange. Systems and Services revenues are also expected to decline sequentially. GAAP operating margin is expected to be below Q3'23 levels, while non-GAAP operating margin is expected to be flat.
July 24, 2024 | 8:16 pm
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Align Technology's Q3 2024 revenue outlook of $980M-$1B is below the $1.03B estimate. The company expects declines in Clear Aligner volume and ASPs due to seasonality and foreign exchange, and a sequential decline in Systems and Services revenues. GAAP operating margin is expected to be below Q3'23 levels, while non-GAAP operating margin is expected to be flat.
The revenue outlook is below market expectations, which is likely to negatively impact the stock price. Additionally, the expected declines in Clear Aligner volume, ASPs, and Systems and Services revenues, along with a lower GAAP operating margin, contribute to a negative short-term outlook.
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IMPORTANCE 90
RELEVANCE 100