Align Technology (NASDAQ: ALGN) has a unique product and years of double-digit growth, so a little slowdown from the coronavirus pandemic isn't going to keep the company down for long. The first quarter scared investors a bit, as the San Jose, Calif., company's revenue and net income fell dramatically from the previous quarter, with a drop of 15.2% in revenue and non-GAAP net profits plummeting 58.4%.
But keep in mind that the first quarter has traditionally been the company's slowest quarter, and the pandemic that kept people away from their orthodontist's office didn't help. Actually, compared to the same quarter, year over year, revenue was up 2.9%, though non-GAAP net profits were down 42.4%. Let's consider what the rest of the year will look like for the clear aligner company and whether it's a good buy today.
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