ALGN - Align Technology Non-GAAP EPS of $2.42 beats by $0.24 revenue of $956.7M beats by $23M
2024-01-31 16:03:35 ET
- Align Technology press release ( NASDAQ: ALGN ): Q4 Non-GAAP EPS of $2.42 beats by $0.24 .
- Revenue of $956.7M (+6.1% Y/Y) beats by $23M .
- Q4 revenues were unfavorably impacted by foreign exchange of approximately $12.8 million sequentially and favorably impacted by approximately $13.8 million year over year
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First quarter 2024 outlook:...
- For Q1’24, we expect our worldwide revenues to be in the range of $960M to $980M, up slightly from Q4’23.
- We expect clear aligner volume and ASPs to be up slightly sequentially.
- We expect systems and services revenue to be down slightly sequentially, although less than the historical seasonal decline given the launch of the iTero Lumina™ for ortho workflows in Q1’24.
- We expect our Q1’24 GAAP operating margin and non-GAAP operating margin to be slightly above Q1’23 GAAP operating margin and non-GAAP operating margin, respectively.
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Full year 2024 outlook:
- We expect our 2024 total revenues to be up mid-single digits over 2023.
- We expect our 2024 clear aligner and systems and services revenues to grow year over year in the same approximate range as 2024 total revenues.
- We expect our 2024 clear aligner ASPs to be up slightly year-over-year, primarily due to price increases and favorable foreign exchange, partially offset by a higher mix of non-comprehensive products which have lower ASPs.
- We expect our full year 2024 GAAP operating margin and non-GAAP operating margin to be slightly above the 2023 GAAP operating margin and non-GAAP operating margin, respectively.
- For 2024, we expect investments in capital expenditures to be approximately $100M. Capital expenditures are expected to primarily relate to building construction and improvements as well as manufacturing capacity in support of our continued expansion.