Align Technology, a global medical device company known for its Invisalign clear aligners, recently reported its fourth-quarter earnings. The company’s revenue for the quarter was $834.5 million, surpassing the consensus estimate of $822.5 million. This represented a 55% increase from the same quarter last year.
Align Technology’s earnings per share were $2.61, also beating expectations of $2.14 per share. The company reported a net income of $214.1 million for the quarter, compared to $21.9 million in the fourth quarter of the previous year.
The strong performance in the fourth quarter can be attributed to a few factors. One key driver was an increase in Invisalign cases, with a 52.6% jump year-over-year. This growth was supported by continued investment in sales and marketing efforts, as well as innovation in the digital treatment planning platform.
Additionally, Align Technology also saw growth in its clear aligner segment, which includes Invisalign clear aligners and the teen-specific product, Invisalign First. The company’s scanner and services segment, which offers intraoral scanners and other digital services, also experienced growth during the quarter.
Looking ahead, Align Technology remains optimistic about its future prospects. The company expects first-quarter revenue to be in the range of $895 million to $905 million, representing a 77% to 79% increase year-over-year. Align Technology plans to continue investing in research and development, sales and marketing, and digital transformation to drive further growth.
Overall, Align Technology’s fourth-quarter earnings demonstrate the company’s strong performance and growth trajectory. With a focus on innovation and expansion, Align Technology is well-positioned to continue its growth in the rapidly evolving orthodontic market.
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