ALGN · Align Technology Q2 FY2026 earnings call record财报电话会记录

“We delivered a solid second quarter with record revenues of $1.06 billion, up 4.3% year-over-year, driven by record clear aligner volumes of 692,000 cases and 8.2% clear aligner revenue growth.”

“Q2 2026 revenues and clear aligner volumes were in line with our outlook, while clear aligner ASPs and non-GAAP operating margin of 22.9% exceeded our expectations.”

“Q2 2026 year-over-year clear aligner volume growth of 7.4% was driven by continued double-digit expansion across APAC, EMEA, and Latin America, together with stable performance in North America.”

“During the quarter, a record 89.2 thousand doctors submitted Invisalign cases, up globally 3.4% year-over-year, while doctor utilization increased 3.8%, reflecting growth across all regions.”

“On a non-GAAP basis, which excludes stock-based compensation, amortization of intangibles related to certain acquisitions, depreciation expense on assets disposed of other than by sale, restructuring, and other non-GAAP charges, gross margin for the second quarter was 72.3%, up 1.8 points year-over-year, or up approximately 2.6 points at constant currency.”

“On a non-GAAP basis, which excludes stock-based compensation, legal settlements and contingencies, restructuring and other charges, and amortization of acquired intangibles related to certain acquisitions, operating margin for the second quarter was 22.9%, up 1.6 points year-over-year, or approximately 3.1 points at constant currency.”

“We now expect 2026 systems and services revenue growth to be down 6%-8% year-over-year, as we anticipate a continued mix shift towards lower-priced scanners and more flexible acquisition models in the second half of 2026.”

“We expect 2026 non-GAAP operating margin to be approximately 23%, a 100 basis point improvement year-over-year consistent with our previous guidance.”

“Importantly, the combination of our global scale, strong international momentum, continued innovation, and an increasing integrated digital platform uniquely positions Align to drive adoption of the Invisalign clear aligner and iTero systems and services while creating long-term value for customers, partners, employees, and shareholders.”

“As you think about the push and pull of macro/micro and what you're seeing in your different customer bases, what's the biggest level of confidence that's allowing you to get to this higher number, given obvious questions broadly in the market about whether or not the consumer is at risk?”

“We are seeing a lot of the productivity that we've talked about from last year, some of the productivity improvements around getting closer to our customers, reducing our freight costs, upgrading some of the equipment, using things productively, as well as some of the product mix that's really helping us from a gross margin.”

“We are looking at what that could mean for volume and making sure we stay close to our customers and so on.”