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MARKETS / NASDAQ / ALGN
NASDAQ · ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES · LARGE CAP

Align Technology Inc. ALGN

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$4.0B
▲ 0.9% YoY
$410.4M
▼ 2.6% YoY
$490.8M
▼ 21.2% YoY
In brief

What this company does

Align Technology, Inc. designs, manufactures and markets Invisalign clear aligners for the treatment of malocclusions, Vivera retainers for retention, iTero intraoral scanners and services for dentistry, and exocad computer-aided design and computer-aided manufacturing software for dental laboratories and dental practitioners. As of December 31, 2025, it had approximately 20,290 employees, of whom approximately 91% were located internationally, primarily in direct-labor roles at its manufacturing and clinical treatment planning facilities. It has regional fabrication facilities for clear aligners in Juarez, Mexico; Ziyang, China; and Wroclaw, Poland. It operates in two segments, Clear Aligner and Systems and Services, the latter covering imaging systems and CAD/CAM services. For the year ended December 31, 2025, Clear Aligner net revenues represented approximately 80% of worldwide net revenues, while Systems and Services net revenues represented the remaining 20%. The Invisalign System, the company's clear aligner offering, is a method for treating malocclusion based on a computer-simulated virtual treatment plan and a series of doctor-prescribed, custom manufactured, clear polymer removable aligners. Its iTero intraoral scanners are used by dental professionals, labs, and service providers for restorative and orthodontic digital procedures, Invisalign case submissions, and digital dentistry diagnosis, treatment planning and treatment monitoring.

Written from the business description in ALIGN TECHNOLOGY, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 4.0B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 4.0 · Net income 0.4
2B4B2008201120142017202020232025
Compound annual growth
+2.6%
+10.3%
+16.9%
+16.9%
+4.3%
−25.4%
+11.0%
+12.1%
+7.0%
−24.1%
+12.3%
+12.6%
+2.8%
+17.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
10 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 13.5% · Net 10.2%
20%40%60%-5%-10%2008201120142017202020232025
ROE
FY2025 · ROE 10.4%
20%40%60%-5%-10%2008201120142017202020232025

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders
USD 444.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 490.8
400M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 444.2
200M400M200820112013201520172019202120232025

USD 444.2M in buybacks — 108% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 6.2B
EquityUSD 4.0B
CashUSD 1.1B
Current ratio1.36×

Equity funds 65% of total assets.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B4.04.03.93.74.02.52.42.01.51.10.80.80.70.60.50.40.30.3
Operating income $B0.50.60.60.61.00.40.50.50.40.20.20.20.10.10.10.1−0.00.0
EBITDA $B0.80.80.80.81.10.50.60.50.40.30.20.20.10.1····
Income tax $B0.20.20.20.20.2−1.40.10.10.10.10.00.00.00.00.00.0−0.0−0.1
Net income $B0.40.40.40.40.81.80.40.40.20.20.10.10.10.10.10.1−0.00.1
Free cash flow $B0.50.60.60.30.80.50.60.30.20.20.20.20.20.10.10.10.10.0
EPS, diluted $5.655.625.814.619.6922.415.534.922.832.331.771.770.780.710.830.95−0.451.18
Dividend / sh $··················
Payout %··················
ROE %10.411.312.310.022.577.534.133.321.520.518.021.010.610.915.419.7−10.536.6
Shares out B0.070.070.080.080.080.080.080.080.080.080.080.080.080.080.080.080.07·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOrthopedic, Prosthetic & Surgical Appliances & Supplies
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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