ALIGN TECHNOLOGY Reports Second Quarter Fiscal Year 2023 Earnings Results on July 26 2023
August 15, 2023
🌥️Earnings Overview
On July 26 2023, ALIGN TECHNOLOGY ($NASDAQ:ALGN) reported their earnings results for the second quarter of fiscal year 2023, which ended on June 30 2023. Revenue for this period totaled USD 1002.2 million, showing a 3.4% increase from the same quarter the previous year. However, net income declined 0.9% year-on-year to USD 111.8 million.
Market Price
The stock opened at $329.6 and closed at $339.8, up by 2.3% from the previous closing price of 332.1. The company reported an increase in its revenue and a decrease in its expenses compared to the same quarter last year. The company’s strong performance was driven by an increase in sales of its products. This robust performance is reflective of ALIGN TECHNOLOGY‘s commitment to providing innovative solutions for their customers.
Overall, ALIGN TECHNOLOGY’s second quarter fiscal year 2023 results were impressive, showing strong growth and a decrease in expenses. Investors have responded positively to the news, pushing the stock up by 2.3%. Moving forward, ALIGN TECHNOLOGY will continue to focus on delivering innovative products and services that meet customer needs and expectations. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Align Technology. More…
| Total Revenues | Net Income | Net Margin |
| 3.74k | 314.09 | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Align Technology. More…
| Operations | Investing | Financing |
| 862.86 | -319.55 | -449.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Align Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.14k | 2.51k | 45.48 |
Key Ratios Snapshot
Some of the financial key ratios for Align Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.0% | 28.8% | 15.3% |
| FCF Margin | ROE | ROA |
| 19.6% | 10.3% | 5.8% |
Analysis
At GoodWhale, we just completed a detailed analysis of ALIGN TECHNOLOGY‘s financials. Our Risk Rating for them is low, which means they score favorably on both financial and business aspects. We did detect two risk warnings in the income sheet and balance sheet. If you are interested in learning more about our analysis and the risk warnings we identified, register with us today and take a deeper look. More…
Peers
Headquartered in San Jose, California, Align Technology was founded in 1997 and received FDA clearance for Invisalign in 1998. Align Technology went public in 2001 and today has a market capitalization of over $13 billion. The company’s competitors include QT Vascular Ltd, ViewRay Inc, and GN Store Nord A/S.
– QT Vascular Ltd ($SGX:5I0)
Ray Inc is a publicly traded company that engages in the business of providing technology solutions. Its solutions include software development, web design, and online marketing. The company’s primary focus is on small businesses. Ray Inc has a market cap of 704.13M as of 2022 and a Return on Equity of -75.17%. Ray Inc’s market cap is 704.13M, which means it has a market value of 704.13M. Ray Inc’s ROE of -75.17% means that it has a negative net income. This is likely due to the company’s expenses exceeding its revenue.
– ViewRay Inc ($NASDAQ:VRAY)
A.P. Moller – Maersk is an integrated logistics company. It operates in areas including container shipping and terminals, oil and gas, shipping and logistics, and other activities. The company has a market cap of 19.32B as of March 2021 and a return on equity of 13.56%. A.P. Moller – Maersk operates in more than 130 countries and employs around 89,000 people. The company was founded in 1904 and is headquartered in Copenhagen, Denmark.
Summary
Investors should consider Align Technology‘s second quarter of fiscal year 2023, ending on June 30, 2023, financials. Revenue grew 3.4% year-on-year, to USD 1002.2 million, while reported net income was down 0.9% to USD 111.8 million. This could be an indication that while sales are growing, their bottom line is not seeing the same growth. Investors should look into the company’s costs and expenses to see whether this could be improved going forward.
