Align Technology (NASDAQ: ALGN) shares fell sharply in after-hours trading Wednesday after the company posted disappointing second-quarter results and issued a lower-than-expected outlook.
Q2 Highlights:
Revenue: $1.01B vs. $1.06B estimate, down 1.6% YoY
Adjusted EPS: $2.49 vs. $2.57 estimate
Clear Aligner Revenue: $804.6M, down 3.3% YoY
Imaging Systems & CAD/CAM Services: $207.8M, up 5.6% YoY
Cash & Equivalents: $901.2M
CEO Joe Hogan noted strong consumer interest in Invisalign but said “uneven patient case conversion” led to a weaker-than-expected seasonal uptick in case starts.
Stock Buyback:
Align repurchased 585,100 shares during the quarter at an average price of $164.14 per share.
Guidance:
Q3 Revenue Forecast: $965M–$985M vs. ~$1.04B estimate.
Company plans to cut costs and refine marketing efforts to support growth in its clear aligner and scanner products.
Market Reaction:
Shares plunged 36.8% in after-hours, trading around $128.50.
Summary: Align’s weak Q2 numbers and soft Q3 outlook rattled investors, with the stock tumbling as the company faces slowing revenue growth and uneven demand for its Invisalign products.
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