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Align Technology, Inc. is a global medical device company specializing in the design, manufacture, and marketing of Invisalign® clear aligners, which are used by orthodontists and general dental practitioners to treat malocclusions, or misaligned teeth . The company also provides Vivera™ retainers for retention, iTero™ intraoral scanners and services for dentistry, and exocad™ CAD/CAM software for dental laboratories and practitioners . Align operates through two main segments: Clear Aligner and Imaging Systems and CAD/CAM Services, with the Invisalign system being the principal product line .
- Clear Aligner - Develops and markets Invisalign® clear aligners, which are used to treat teeth misalignment by orthodontists and general dental practitioners .
- Vivera™ Retainers - Offers retainers designed to maintain teeth alignment post-treatment .
- Imaging Systems and CAD/CAM Services - Provides iTero™ intraoral scanners and services for dental practices, along with exocad™ CAD/CAM software for dental laboratories and practitioners .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Emory Wright Executive | Executive Vice President, Direct Fabrication Manufacturing Platform | None | Joined ALGN in 2000, pivotal in scaling global operations and developing 3D printing capabilities. | |
Jitse Marree Executive | Vice President, Global Aligner Manufacturing Operations | None | Over seven years at ALGN, leading global aligner manufacturing operations. | |
John F. Morici Executive | Chief Financial Officer and Executive Vice President, Global Finance | None | Joined ALGN in 2016, has held various financial leadership roles, contributing significantly to the company's financial strategies. | |
Joseph M. Hogan Executive | President and Chief Executive Officer | None | Joseph M. Hogan has been the CEO since 2015, previously CEO of ABB and GE Healthcare, known for strategic and operational leadership in large public companies. | View Report → |
Julie Coletti Executive | Executive Vice President, Chief Legal and Regulatory Officer | None | Progressed from VP to EVP, focusing on legal and regulatory strategies since joining ALGN. | |
Mitra Derakhshan Executive | Executive Vice President, Chief Clinical Officer, Global Treatment Planning and Clinical Services | None | Focuses on clinical confidence and digital workflows, promoting Invisalign adoption. | |
Srini Kaza Executive | Executive Vice President of Research and Development | None | Over 25 years at ALGN, key in developing Invisalign and 3D printing technologies. | |
Stuart Hockridge Executive | Executive Vice President, Global Human Resources | None | Joined ALGN in 2013, has advanced through HR leadership roles, contributing to talent management and organizational development. | |
Anne M. Myong Board | Independent Director | None | Director since 2019, with experience in global operations and digital transformation at Walmart and Agilent. | |
C. Raymond Larkin Jr. Board | Chairman of the Board | Chairman of Shockwave Medical, Principal of Group Outcome L.L.C. | Director since 2004, Chairman since 2006, with extensive experience in medical devices and healthcare. | |
George J. Morrow Board | Independent Director | Board of Directors at Neurocrine Biosciences, Inc. | Director since 2006, with a background in commercial operations at Amgen and GlaxoSmithKline. | |
Joseph Lacob Board | Independent Director | Governor, Co-Executive Chairman, and CEO of Golden State Warriors, Board of NeuroPace, Inc. | Director since 1997, with expertise in strategic opportunities in technology and healthcare. | |
Kevin J. Dallas Board | Independent Director | CEO of EnterpriseDB Corporation | Director since 2018, with expertise in digital transformation and technology leadership. | |
Kevin T. Conroy Board | Independent Director | President, CEO, and Chairman of Exact Sciences Corporation | Appointed in 2023, known for leadership in cancer diagnostics and development of Cologuard. | |
Mojdeh Poul Board | Independent Director | Director at iRhythm Technologies, Member of CeramTec Advisory Committee, Director at Stanley Black and Decker | Appointed in 2023, with a background in healthcare leadership at 3M, Medtronic, and Boston Scientific. | |
Susan E. Siegel Board | Independent Director | Board of Directors at Illumina, Inc., Nevro Corporation, Chairman of MIT's The Engine, Trustee at KFF | Director since 2017, former Chief Innovation Officer at GE, recognized for contributions to healthcare innovation. |
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Given the continued sluggish consumer demand in the U.S., especially impacting patient throughput and treatment conversion rates, what specific strategies are you implementing to stimulate growth in your orthodontic and dental channels amid these challenges?
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With the recent restructuring actions, including the elimination of key executive roles and workforce reductions, how do you plan to maintain operational effectiveness and support your growth initiatives, particularly in scaling critical technologies like direct 3D printing?
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Considering the pressures on capital equipment sales due to high interest rates and economic conditions, how confident are you in driving adoption of the new Lumina scanner, especially with the upcoming restorative software release, and what measures are you taking to incentivize purchases in this tough market?
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International markets like China have shown growth for Align, but with geopolitical tensions and varying economic conditions globally, how sustainable is this growth, and what strategies are you employing to mitigate risks and capitalize on opportunities in these regions?
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As you invest heavily in future technologies amidst a period of economic malaise and restructuring, how are you balancing these long-term investments with the need to deliver margin accretion and meet near-term financial performance expectations?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Cubicure GmbH | 2024 | Completed on January 2, 2024, this acquisition involved purchasing the remaining 91% equity interest (with Align already holding 9.04%) for a total of approximately $87 million (with $79 million paid in cash) to enhance Align’s strategic innovation roadmap and expand its 3D printing, materials, and manufacturing capabilities via patented Hot Lithography technology. |
Recent press releases and 8-K filings for ALGN.
- Innovation Focus: The company emphasized a transition to game-changing technologies, including a next-generation ClinCheck software that drastically reduces treatment planning time, signaling significant efficiency improvements.
- EMEA Expansion Strategy: Align is aggressively targeting the underpenetrated EMEA market through tailored go-to-market approaches and peer-to-peer programs, leveraging local dynamics such as the UK’s GP-dominated market.
- Product Launch Highlights: Multiple new product launches were discussed—palatal expander, mandibular advancement device, and Lumina restorative—with early positive feedback and promising market impact.
- LRP Guidance Update: The company highlighted a long‐range plan for 2026–2028 featuring revenue acceleration and operating margin expansion based on strong product momentum and stable North American volume, while leveraging favorable FX and cost productivity initiatives.
- Global Market Focus: Emphasis was placed on robust double-digit growth in international markets (APAC and EMEA) compared to a stagnant North American market, with tailored strategies for each region and an expanding role in teen and lower-priced product segments.
- Innovative Technology and Margin Improvement: The introduction of the new Lumina IOS platform, along with cost efficiencies in systems and services, underpins the drive for better gross margins and operational scalability.
- Amendment Approved: The company's 2025 Annual Meeting on May 21, 2025 approved an amendment to the 2005 Incentive Plan aimed at attracting and retaining key personnel, including increasing the authorized number of incentive shares.
- Detailed Plan Provisions: The document outlines provisions for various award types such as stock options, SARs, restricted stock, and performance shares, with specific terms for vesting, exercise, and adjustments in corporate events.
- Proxy Vote Outcomes: Voting results detailed for board elections, executive compensation advisory, auditor ratification, and changes to corporate charter requirements were provided, emphasizing share-based decisions in the meeting.
- Executives detailed the recent Analyst Day where innovation across digital scanning (Lumina), software, and 3D printing—including the early stages of direct fabrication—was discussed.
- The updated long-range plan now guides 5%-15% growth for 2026-2028 and 15%+ growth from 2029 onward, underpinned by new product developments and market resilience.
- Stability in the U.S. market was emphasized with robust adoption of new technologies via tailored clinical education and pathways, alongside targeted expansion initiatives in emerging markets like Latin America.
- New $1 Billion Stock Repurchase Program: The Board has authorized a $1 billion repurchase effort to be executed over the next three years, succeeding the prior program completed in May 2025 .
- Strong Financial Position: As of March 31, 2025, the company reported 73.1 million shares outstanding and $873.0 million in cash and cash equivalents, underscoring its capacity to support the repurchase .
- Digital Transformation Strategy: Leadership detailed a 30‐year journey from analog processes to a comprehensive digital ecosystem that enhances treatment planning, patient experience, and clinical precision (e.g., via ClinCheck and iTero innovations) .
- Innovative Product Development: Showcased advancements include direct 3D printing of aligners, high-performance SmartTrack materials, and upgraded scanning solutions like Lumina, with pilots for retainers and aligners .
- Global Market and Operational Focus: Emphasis on strategic expansion in regions like APAC and EMEA, alongside cost efficiency measures in manufacturing and logistics, while also addressing shareholder initiatives .
- Total Q1 revenue was $979.3M (down 1.6% sequentially and 1.8% YoY), with Clear Aligner revenue of $796.8M and robust margins (overall 69.5%, Clear Aligner 70.5%)
- Clear Aligner volumes grew by 6.2% YoY (with 2.2% sequential growth), driven by demand across teen, kids, and adult segments
- GAAP operating income reached $131.1M (margin 13.4%), leading to net income of $93.2M or $1.27 EPS
- Key product innovations included the launch of the Invisalign Palate Expander system, new Mandibular Advancement featuring Occlusal Blocks, and upgrades to the iTero Lumina scanner series
- The announcement celebrated a milestone of 20 million Invisalign patients and provided updates on stock repurchases along with a favorable UK VAT ruling
- Strategic supply chain adjustments are in place to mitigate tariff impacts across China, Mexico, and Europe, supporting margin targets amid macroeconomic headwinds