Align Technology reports Q1 adjusted EPS $2.14, consensus $1.97

Reports Q1 revenue $997.4M, consensus $974.41M. Commenting on Align’s Q1’24 results, Align Technology President and CEO Joe Hogan said, “I’m pleased to report better than expected revenue and earnings for the first quarter and a solid start to the year. For Q1, total worldwide revenues were up 5.8% year-over-year, reflecting 3.5% year-over-year growth from our Clear Aligner segment and 17.5% year-over-year growth from Systems and Services. On a year-over-year basis, Q1 revenue growth was up across all regions and was driven by strong Clear Aligner volumes primarily in the Asia Pacific region. Year-over-year growth also reflects strength in the orthodontic channel, with total Invisalign(R) case starts from teens and younger patients up 5.8% year-over-year – driven by continued momentum across all regions from Invisalign First, as well as Invisalign DSP Touch-Up cases. On a sequential basis, Q1 total revenues were up 4.3%, reflecting a sequential increase in Clear Aligner revenues, especially from North America orthodontists, as well as strong Systems and Services revenues primarily driven by iTero Lumina wand upgrades in North America.”