Align Technology income statement
In fiscal 2025, Align Technology reported revenue of $4.03bn, up 0.9% on the year before, operating income of $546m (a 13.5% margin) and net income of $410m, or $5.65 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 312 | 387 | 480 | 560 | 660 | 762 | 845 | 1,080 | 1,473 | 1,966 | 2,407 | 2,472 | 3,953 | 3,735 | 3,862 | 3,999 | 4,035 | 4,140 |
| Cost of revenue | 79 | 84 | 118 | 144 | 162 | 183 | 205 | 265 | 356 | 519 | 663 | 709 | 1,017 | 1,101 | 1,155 | 1,200 | 1,324 | 1,323 |
| Gross profit | 233 | 303 | 361 | 416 | 498 | 578 | 640 | 815 | 1,117 | 1,448 | 1,744 | 1,763 | 2,935 | 2,634 | 2,707 | 2,799 | 2,711 | 2,817 |
| Research and development | 22 | 26 | 37 | 43 | 44 | 53 | 61 | 76 | 98 | 129 | 157 | 175 | 250 | 305 | 347 | 364 | 370 | 377 |
| Selling, general and administrative | — | — | — | — | 293 | 332 | 390 | — | — | 852 | 1,072 | 1,201 | 1,709 | 1,674 | 1,703 | 1,763 | 1,756 | 1,787 |
| Selling and marketing | 113 | 114 | 142 | 152 | — | — | — | 491 | 666 | — | — | — | — | — | — | — | — | — |
| General and administrative | 62 | 65 | 92 | 99 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | −34 | 103 | 90 | 86 | 94 | 194 | 189 | 249 | 354 | 467 | 542 | 387 | 976 | 643 | 643 | 608 | 546 | 548 |
| Interest expense | 0 | 0 | 0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Income before tax | −34 | 102 | 90 | 84 | 93 | 190 | 186 | 243 | 365 | 467 | 563 | 379 | 1,012 | 599 | 641 | 609 | 585 | 569 |
| Income tax | −3 | 28 | 23 | 26 | 29 | 45 | 42 | 51 | 130 | 58 | 112 | −1,397 | 240 | 237 | 196 | 188 | 175 | 155 |
| Net income | −31 | 74 | 67 | 59 | 64 | 146 | 144 | 190 | 231 | 400 | 443 | 1,776 | 772 | 362 | 445 | 421 | 410 | 414 |
| Diluted EPS | −$0.45 | $0.95 | $0.83 | $0.71 | $0.78 | $1.77 | $1.77 | $2.33 | $2.83 | $4.92 | $5.53 | $22.41 | $9.69 | $4.61 | $5.81 | $5.62 | $5.65 | $5.76 |
| Diluted shares (average) | 69m | 78m | 80m | 83m | 83m | 82m | 82m | 81m | 82m | 81m | 80m | 79m | 80m | 78m | 77m | 75m | 73m | 72m |
| EBITDA | −24 | 114 | 102 | 103 | 111 | 211 | 207 | 273 | 391 | 521 | 621 | 481 | 1,085 | 768 | 786 | 753 | 783 | 802 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 978 | 995 | 979 | 1,012 | 996 | 1,048 | 1,040 | 1,056 |
| Cost of revenue | 296 | 298 | 299 | 304 | 356 | 364 | 304 | 299 |
| Gross profit | 682 | 697 | 680 | 708 | 639 | 684 | 737 | 757 |
| Research and development | 85 | 95 | 97 | 96 | 93 | 83 | 99 | 102 |
| Selling, general and administrative | 434 | 425 | 448 | 449 | 418 | 442 | 465 | 463 |
| Operating income | 162 | 144 | 131 | 163 | 96 | 155 | 142 | 154 |
| Income before tax | 166 | 141 | 140 | 174 | 95 | 177 | 149 | 149 |
| Income tax | 50 | 37 | 47 | 49 | 38 | 41 | 36 | 40 |
| Net income | 116 | 104 | 93 | 125 | 57 | 136 | 113 | 108 |
| Diluted EPS | $1.55 | $1.39 | $1.27 | $1.72 | $0.78 | $1.88 | $1.57 | $1.51 |
| EBITDA | 200 | 182 | 170 | 204 | 152 | 257 | 199 | 194 |
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