Align Technology (ALGN) Beats On Earnings And Revenues In Q1
Zacks Investment Research | Apr 25, 2018 09:45PM ET
Align Technology, Inc.’s (NASDAQ:ALGN) first-quarter 2018 adjusted earnings per share (EPS) came in at $1.17, up 37.6% year over year. Earnings were also higher than the company’s guided range of 94-98 cents. The figure comfortably beat the Zacks Consensus Estimate of 98 cents as well.
Revenues
Revenues grew 40.8% year over year to $436.9 million in the quarter, surpassing the Zacks Consensus Estimate of $408.3. million. Revenues were well ahead of the company’s guided range of $400-$410 million.
Per management, the top line was driven by a 30.8% year-over-year increase in Invisalign case shipments to 272,235 in the quarter. The upside was supported by growth in North America and international regions on an expanded customer base and increased utilization along with a solid worldwide teen case growth. Moreover, increased revenues from iTero scanner contributed majorly.
Segments in Detail
Revenues at the Clear Aligner segment (88.2% of total revenues) soared 36.5% year over year to $385.5 million in the reported quarter, primarily driven by continued strong Invisalign case volume growth across all customer channels and geographical regions.
In the first quarter, Invisalign case shipments amounted to 272,235, up 30.8% year over year, aided by growth across all regions as well as expansion of customer base. During the quarter, Align Technology Invisalign cases were shipped to 46,805 doctors worldwide, of which 27,105 were to North America and 19,700 to international regions.
Align Technology, Inc. Price, Consensus and EPS Surprise
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