ALGN - Why Orthodontics Company Align Technology Shares Are Plummeting Today | Benzinga
Align Technology Inc (NASDAQ: ALGN) shares are trading lower by around 25% after the company reported worse-than-expected Q3 FY23 financial results.
Revenues rose 7.8% Y/Y to $960.2 million, missing the consensus of $994.5 million. Revenues fell 4.2% sequentially.
Clear Aligner revenues were up 8.5% Y/Y to $794.9 million, with volumes of 602.3 thousand cases (+2.3% Y/Y).
Clear Aligner volume for teens rose 8.4% Y/Y to 221.8 thousand cases, driven by continued strength in Invisalign First.
Imaging Systems and CAD/CAM Services revenues stood at $165.3 million, up 4.9% Y/Y.
Adjusted operating income rose to $209.7 million from $180.0 million a year ago, with margins of 21.8%.
Adjusted EPS of ...