Align Technology reports Q1 adjusted EPS $1.82, consensus $1.68

Reports Q1 revenue $943.1M, consensus $903.2M. Commenting on Align’s Q1’23 results, Align Technology President and CEO Joe Hogan said, "Overall, I’m pleased to report better than expected first quarter revenues and earnings. Our first quarter revenues of $943.1 million, a sequential increase, reflect stability across all regions for our Clear Aligner business and favorable average selling price ("ASP") for the Clear Aligner and Systems and Services segments. Q1 sequential growth reflects an increase in Non-Case revenues which also increased year over year, driven by continued growth from our Invisalign(R) Doctor Subscription Program ("DSP") and Vivera(TM) retainers. In the teen segment, which represents the largest portion of the 21 million annual orthodontic case starts, 182 thousand teens and kids started treatment with Invisalign clear aligners during the first quarter, increasing both sequentially and year over year, which is encouraging as we head into the important summer season for teens and kids. Overall, we remain confident in our large underpenetrated market opportunity globally and our ability to deliver digital products and technology that are helping doctors transform smiles and change lives for millions of people."