Jun 2026 (Q2 FY26) — Jul 29, 2026
Align Technology Q2 FY26 — Record Clear Aligner Volumes and Strong Margin Expansion
Read the full callAlign Technology (ALGN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Align Technology earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,056 | +4.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 14.6 | −1.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 108 | −13.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
13 of 20 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clear Aligner average selling price | flat sequentially and year-over-year | Mar 2026 | Q2 '26 revenues and Clear Aligner volumes were in line with our outlook, while Clear Aligner ASPs and non-GAAP operating margin of 22.9% exceeded our expectations. | Achieved |
| GAAP operating margin | approximately 16.4% | Mar 2026 | Our second quarter operating income of $154 million resulted in an operating margin of 14.6%, down approximately 1.5 points year-over-year. | Missed |
| Non-GAAP operating margin | approximately 23.7% | Mar 2026 | We expect 2026 non-GAAP operating margin to be approximately 23%, a 100 basis point improvement year-over-year, consistent with our previous guidance. | Revised Down |
7 of ALIGN TECHNOLOGY INC's 75 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 72 more targets are in the full ledger.
Claimed
- Record revenues of $1.06 billion, up 4.3% year-over-year.
- Record Clear Aligner volumes of 692,000 cases, up 7.4% year-over-year.
- Non-GAAP operating margin of 22.9%, exceeding expectations and up 1.6 points year-over-year.
- Clear Aligner revenue growth of 8.2% year-over-year, driven by volume and price increases.
- Record scanner placements to new doctors, increasing double digits year-over-year, and active scanner units growing 11% year-over-year.
Qualified
- Systems and Services revenue down 10.8% year-over-year to $185.3 million due to capital equipment market softness and shift to lower-priced scanners/leasing models.
- North America retail demand remained slower, offsetting strength in orthodontic and DSO channels.
- GAAP net income per diluted share down $0.20 year-over-year to $1.51, unfavorably impacted by $0.23 from foreign exchange.
- U.K. VAT liability of $37.5 million recorded in Q2 FY26 due to overturned VAT-exempt decision.
- Q3 FY26 GAAP gross margin expected to be 67.5% to 68.5%, down sequentially due to $20M-$30M in one-time charges.
Price
$149.34 +3.39% · +$4.9
Performance +15.1% 1Y
1Y: $129.79 on 14 Oct 2025 → $149.34. High $197.51 (11 Feb 2026), low $128.43 (15 Oct 2025).
- Previous close
- $144.44
- 52-week range
- $128.43 – $197.51
- One year
- +16.28%
Overview
- Symbol
- ALGN
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 20 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Clear Aligner average selling price | flat sequentially and year-over-year | Mar 2026 | Q2 '26 revenues and Clear Aligner volumes were in line with our outlook, while Clear Aligner ASPs and non-GAAP operating margin of 22.9% exceeded our expectations. | Achieved |
| GAAP operating margin | approximately 16.4% | Mar 2026 | Our second quarter operating income of $154 million resulted in an operating margin of 14.6%, down approximately 1.5 points year-over-year. | Missed |
| Non-GAAP operating margin | approximately 23.7% | Mar 2026 | We expect 2026 non-GAAP operating margin to be approximately 23%, a 100 basis point improvement year-over-year, consistent with our previous guidance. | Revised Down |
Claimed
- Record revenues of $1.06 billion, up 4.3% year-over-year.
- Record Clear Aligner volumes of 692,000 cases, up 7.4% year-over-year.
- Non-GAAP operating margin of 22.9%, exceeding expectations and up 1.6 points year-over-year.
- Clear Aligner revenue growth of 8.2% year-over-year, driven by volume and price increases.
- Record scanner placements to new doctors, increasing double digits year-over-year, and active scanner units growing 11% year-over-year.
Qualified
- Systems and Services revenue down 10.8% year-over-year to $185.3 million due to capital equipment market softness and shift to lower-priced scanners/leasing models.
- North America retail demand remained slower, offsetting strength in orthodontic and DSO channels.
- GAAP net income per diluted share down $0.20 year-over-year to $1.51, unfavorably impacted by $0.23 from foreign exchange.
- U.K. VAT liability of $37.5 million recorded in Q2 FY26 due to overturned VAT-exempt decision.
- Q3 FY26 GAAP gross margin expected to be 67.5% to 68.5%, down sequentially due to $20M-$30M in one-time charges.
The full ledger
Open ALIGN TECHNOLOGY INC’s full ledger
A free account opens 5 company ledgers a month. All 75 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Align Q1 FY26 — Strong Clear Aligner Volumes and Margin Expansion
Read the full callEvery analysed call
Align Technology earnings calls (ALGN)
Financials
What the filings say
Net profit, year on year: −13% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 978 | 995 | 979 | 1,012 | 996 | 1,048 | 1,040 | 1,056 |
| Operating profit | 162 | 144 | 131 | 163 | 96 | 155 | 142 | 154 |
| Operating margin | 16.6% | 14.5% | 13.4% | 16.1% | 9.7% | 14.8% | 13.7% | 14.6% |
| Other income | -0 | -12 | 4 | 8 | -5 | 17 | 3 | -10 |
| Profit before tax | 166 | 141 | 140 | 174 | 95 | 177 | 149 | 149 |
| Tax rate | 30.1% | 26.3% | 33.6% | 28.2% | 40.1% | 23.1% | 24.3% | 27.2% |
| Net profit | 116 | 104 | 93 | 125 | 57 | 136 | 113 | 108 |
| EPS ($ per share) | 1.55 | — | 1.27 | 1.72 | 0.78 | — | 1.58 | 1.51 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 378 | 440 | 2,216 | 2,619 | 2,567 | 2,447 | 2,484 | 2,464 |
| Total liabilities | 800 | 1,155 | 1,596 | 2,319 | 2,347 | 2,453 | 2,363 | 2,185 |
| Fixed assets | 521 | 632 | 735 | 1,082 | 1,232 | 1,291 | 1,271 | 1,131 |
| Investments | 98 | 318 | — | — | — | — | — | — |
| Total assets | 2,052 | 2,501 | 4,830 | 5,942 | 5,948 | 6,084 | 6,215 | 6,234 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 555 | 747 | 662 | 1,173 | 569 | 786 | 738 | 593 |
| Cash from investing | 7 | -350 | -232 | -563 | -213 | -196 | -255 | -112 |
| Cash from financing | -369 | -486 | -31 | -458 | -502 | -598 | -356 | -465 |
| Net cash flow | 187 | -86 | 410 | 139 | -158 | -4 | 106 | 51 |
| Capital expenditure | -223 | -150 | -155 | -401 | -292 | -178 | -116 | -102 |
| Free cash flow | 331 | 598 | 507 | 771 | 277 | 608 | 623 | 491 |
ALGN revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Clear Aligner | — | — | 81% | 79% | 81% | — | 82% | 82% | +8.2% |
| Systems and Services | — | — | 19% | 21% | 19% | — | 18% | 18% | -10.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ALGN operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Clear Aligner shipments | 686KClear Aligner shipments reached a record 686,000 cases, increasing 6.7% year-over-year, reflecting double-digit growth across our international businesses, and continued stability in North America.Source: earnings call transcript | 692KWe delivered a solid second quarter with record revenues of $1.06 billion, up 4.3% year-over-year, driven by record Clear Aligner volumes of 692,000 cases and 8.2% Clear Aligner revenue growth.Source: earnings call transcript | +0.9% |
| Doctors submitting Invisalign cases | 88K+During the quarter, more than 88,000 doctors submitted Invisalign cases globally a year-over-year increase of 3% or an additional 3,000 orthodontists and GP driven primarily by increases in APAC and the Americas, led by Latin America.Source: earnings call transcript | 89.2KDuring the quarter, a record 89,200 doctors submitted Invisalign cases, up globally 3.4% year-over-year, while doctor utilization increased 3.8%, reflecting growth across all regions.Source: earnings call transcript | — |
| Clear Aligner average per case shipment price | $1,250Q1 Clear Aligner average per case shipment price of $1,250, increased 1% or $10 per case on a year-over-year basis, primarily due to favorable foreign exchange, price increases and lower net deferrals, partially offset by higher discounts and mix shift to lower-priced countries and products mentioned previously.Source: earnings call transcript | $1,260Q2 Clear Aligner average per case shipment price of $1,260 increased 0.8% or $10 per case on a year-over-year basis, primarily due to price increases, lower net deferrals, favorable foreign exchange, partially offset by mix shift to lower-priced countries and products and higher discounts.Source: earnings call transcript | +0.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Other International 39% ↑ 4 pt
- US 37% ↓ 6 pt
- CH 24% ↑ 1 pt
As ALGN cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
19 filings between Feb 18, 2026 and May 20, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$1.51M
1 sale by 1 insider
Compensation
not trading decisions- 14
- Option exercise — converted options into shares
- 4
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Morici John | — | $1.51M | Feb 18, 2026 |
Latest filings (38)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 20, 2026 | MORROW GEORGE J Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | Conroy Kevin T Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | LACOB JOSEPH Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | Dallas Kevin J Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | LARKIN C RAYMOND JR Director | Option exercise | 2,326 | $0 |
| May 20, 2026 | Myong Anne Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | Poul Mojdeh Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | Saia Andrea Lynn Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | SIEGEL SUSAN E Director | Option exercise | 1,745 | $0 |
| May 20, 2026 | Vitalone Britt J. Director | Option exercise | 1,443 | $0 |
| Feb 20, 2026 | HOGAN JOSEPH M President and CEO | Option exercise | 40,248 | $0 |
| Feb 20, 2026 | HOGAN JOSEPH M President and CEO | Tax withheld | 16,107 | $3.06M |
| Feb 20, 2026 | Coletti Julie Ann EVP, CHIEF LEGAL & REGULATORY | Option exercise | 5,864 | $0 |
| Feb 20, 2026 | Coletti Julie Ann EVP, CHIEF LEGAL & REGULATORY | Tax withheld | 1,718 | $326.5K |
| Feb 20, 2026 | Hockridge Stuart A EVP, GLOBAL HR | Option exercise | 4,310 | $0 |
| Feb 20, 2026 | Hockridge Stuart A EVP, GLOBAL HR | Tax withheld | 1,210 | $229.9K |
| Feb 20, 2026 | Morici John EVP, CHIEF FINANCIAL OFFICER | Option exercise | 7,848 | $0 |
| Feb 20, 2026 | Morici John EVP, CHIEF FINANCIAL OFFICER | Tax withheld | 2,549 | $484.4K |
| Feb 18, 2026 | Morici John EVP, CHIEF FINANCIAL OFFICER | Sale | 7,969 | $1.51M |
| Aug 1, 2025 | HOGAN JOSEPH M PRESIDENT AND CEO | Purchase | 7,576 | $996.1K |
| Jul 31, 2025 | Coletti Julie Ann EVP, CHIEF LEGAL & REGULATORY | Purchase | 42 | $4.6K |
| May 21, 2025 | SIEGEL SUSAN E Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | Conroy Kevin T Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | Dallas Kevin J Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | LACOB JOSEPH Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | LARKIN C RAYMOND JR Director | Option exercise | 1,531 | $0 |
| May 21, 2025 | MORROW GEORGE J Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | Myong Anne Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | Poul Mojdeh Director | Option exercise | 1,148 | $0 |
| May 21, 2025 | Saia Andrea Lynn Director | Option exercise | 1,148 | $0 |
| Feb 20, 2025 | HOGAN JOSEPH M PRESIDENT AND CEO | Option exercise | 21,149 | $0 |
| Feb 20, 2025 | HOGAN JOSEPH M PRESIDENT AND CEO | Tax withheld | 8,853 | $1.75M |
| Feb 20, 2025 | Morici John EVP & CHIEF FINANCIAL OFFICER | Option exercise | 4,539 | $0 |
| Feb 20, 2025 | Morici John EVP & CHIEF FINANCIAL OFFICER | Tax withheld | 1,509 | $298.9K |
| Feb 20, 2025 | Hockridge Stuart A EVP GLOBAL HR | Option exercise | 2,587 | $0 |
| Feb 20, 2025 | Hockridge Stuart A EVP GLOBAL HR | Tax withheld | 696 | $137.8K |
| Feb 20, 2025 | Coletti Julie Ann EVP, CHIEF LEGAL & REGULATORY | Option exercise | 3,341 | $0 |
| Feb 20, 2025 | Coletti Julie Ann EVP, CHIEF LEGAL & REGULATORY | Tax withheld | 965 | $191.1K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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