2023-04-26 16:02:08 ET
- Align Technology press release ( NASDAQ: ALGN ): Q1 Non-GAAP EPS of $1.82 beats by $0.13 .
- Revenue of $943.1M (-3.1% Y/Y) beats by $39.9M .
- Q1'23 revenues were favorably impacted by foreign exchange of approximately $25.8 million sequentially and unfavorably impacted by approximately $34.9 million year over year
- Q1'23 Clear Aligner revenues of $789.8 million, increased 7.9% sequentially, and Clear Aligner volume of 575.4 thousand cases, decreased 1.4% sequentially
- Q1'23 Imaging Systems and CAD/CAM Services revenues of $153.3 million, decreased 9.7% sequentially
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For 2023, Align provides the following business outlook:
- For Q2'23, we anticipate Clear Aligner volume and ASP to be up sequentially. We also anticipate Systems and Services revenue to be up sequentially. We anticipate Q2’23 revenues to be in the range of $980 million to $1,000 million. We expect our Q2'23 GAAP and Non-GAAP gross margin to be flat to slightly up from Q1’23, and our Q2’23 GAAP and Non-GAAP operating margin to be up by approximately 1 point sequentially, as we continue to strategically prioritize our investments in go-to-market activities and R&D to drive growth.
- For full year 2023, assuming no circumstances beyond our control occur, we are reiterating our 2023 GAAP operating margin to be slightly above 16% and our 2023 Non-GAAP operating margin to be slightly above 20%.
- For 2023, we expect investments in capital expenditures to exceed $200 million. Capital expenditures are expected to primarily relate to building construction and improvements as well as additional manufacturing capacity in support of our continued international expansion.
For further details see:
Align Technology Non-GAAP EPS of $1.82 beats by $0.13, revenue of $943.1M beats by $39.9M