Slide 1: Align Technology Q2 2026
Align Technology Q2 2026 | July 29, 2026 Contact: investorinfo@aligntech.com ©2026 Align Technology Inc. All rights reserved.
Slide 2: Safe Harbor and Forward-Looking Statements
Safe Harbor and Forward-Looking Statements This presentation, including the tables below, contains forward-looking statements, including statements of our current intentions, beliefs and expectations regarding our ability to expand access to care, grow recurring revenue, and strengthen the Align Dig
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles ("GAAP") in the United States ("U.S. GAAP"), we use the following non-GAAP financial measures: constant currency net revenues,
Slide 4: Q2 2026 Financial Results
Q2 2026 Financial Results ©2026 Align Technology Inc. All rights reserved.
Slide 5: Highlights
Q2 2026 | Highlights Record Q2'26 revenues and record Clear Aligner volumes 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 691.8 thousand cases and 8.2% Clear Aligner revenue growth. Q2'26 revenues and Clea
Slide 6: Revenues and Operating Performance
Q2 2026 | Revenues and Operating Performance Consistent execution strengthening growth and operating performance TOTAL REVENUES TOTAL SYSTEMS & SERVICES REVENUES TOTAL CLEAR ALIGNER REVENUES GAAP OPERATING PROFIT | OPERATING MARGIN Q2’26: $1,056.2M Q2’26: $185.3M Q2’26: $870.9M Q2’26: $154.0M | 14.6
Slide 7: Revenue Summary Commentary
Q2 2026 | Revenue Summary Commentary Record quarterly revenues driven primarily by higher Clear Aligner volumes and increased ASPs • Q2'26 Total revenues were $1,056.2M, +4.3% Y/Y • Y/Y, On a constant currency basis, Q2'26 revenues were favorably impacted by FX of $12.5M or ~1.2%*, in-line with our
Slide 8: Trended Revenues, Clear Aligner Case Volume, and Intl Mix Trends
Q2 2026 | Trended Revenues, Clear Aligner Case Volume, and Intl Mix Trends Expanding international mix Q2’26 NET REVENUES Q2’26 CLEAR ALIGNER CASE VOLUME +4.3% Y/Y +7.4% Y/Y ($M) (#K) +1.5% Q/Q +0.9% Q/Q $1,047.6 $1,040.1 $1,056.2 $1,012.4 $995.7 685.7 691.8 644.4 647.8 676.9 $209.4 $184.1 $185.3 $2
Slide 9: Clear Aligner Performance: Volume, Utilization, and ASP
Q2 2026 | Clear Aligner Performance: Volume, Utilization, and ASP WW CLEAR ALIGNER WW CLEAR ALIGNER CLEAR ALIGNER SHIPMENTS TOTAL UTILIZATION* REVENUE PER CASE SHIPMENT (#K) +7.4% Y/Y $1,400 $1,300 +0.9% Q/Q $1,200 7.5 7.8 7.8 685.7 691.8 644.4 $1,100 $1,000 $900 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25
Slide 10: Driving Adoption Through Targeted Growth Initiatives
Q2 2026 | Driving Adoption Through Targeted Growth Initiatives Improving affordability, conversion, clinical confidence, and practice efficiency Practice Economics Affordability & Access Clinical Confidence Practice Efficiency Doctor Subscription Program (DSP) Patient Financing Peer-to-Peer Mentorin
Slide 11: Clear Aligner Shipments by Patient Segment
Q2 2026 | Clear Aligner Shipments by Patient Segment ~23.5M* patients treated WW including +7.0M* teens and kids: patient adoption continues to expand globally WW CLEAR ALIGNER SHIPMENTS TEENS AND KIDS WW CLEAR ALIGNER SHIPMENTS ADULTS (#K) +7.2% Y/Y (#K) +7.5% Y/Y +1.1% Q/Q +0.8% Q/Q 256 239 446 44
Slide 12: Systems and Services Segment
Q2 2026 | Systems and Services Segment Healthy scanner placements, growth in active units, and increasing digital workflow utilization support communication between doctors and patients to improve patient oral health and aesthetics and strengthen the connection between diagnostics, treatment plannin
Slide 13: exocad CAD/CAM software
Q2 2026 | exocad CAD/CAM software Leveraging exocad to expand our digital platform across orthodontic and restorative applications • Our exocad CAD/CAM business delivered double-digit year-over-year revenue growth in Q2, reinforcing our strategy to expand access to care by seamlessly integrating ort
Slide 14: Trended GAAP Gross Margins
Q2 2026 | Trended GAAP Gross Margins GROSS MARGIN % • Overall, Q2'26 gross margin was 71.7%, +1.8 pts Y/Y primarily due to operational efficiencies, tariff +1.8% Y/Y refund, and higher Clear Aligner ASP • Y/Y, Q2’26 overall gross margin was unfavorably impacted by FX of ~0.8 pts* +0.9% Q/Q • On a no
Slide 15: Trended GAAP Operating Expenses
Q2 2026 | Trended GAAP Operating Expenses OPERATING EXPENSE ($M) • Q2'26 Operating expenses were $603.4M, +10.7% Y/Y +10.7% Y/Y • Y/Y, Q2'26 operating expenses increased by +$58.3M, primarily due to UK VAT accrual and higher +1.5% Q/Q employee compensation $594.6 $603.4 • On a non-GAAP basis, exclud
Slide 16: Trended GAAP Operating Margin and EPS
Q2 2026 | Trended GAAP Operating Margin and EPS OPERATING MARGIN % & DILUTED EPS • Q2'26 Operating income of $154.0M resulting in a Q2'26 operating margin of 14.6%, (1.5) pts Y/Y (1.5)% Y/Y • Q2'26 Operating margin was unfavorably impacted from FX by ~1.4 pts Y/Y* • Q2'26 non-GAAP Operating margin,
Slide 17: Trended Quarterly Financials GAAP and Non-GAAP
Q2 2026 | Trended Quarterly Financials GAAP GROSS MARGIN % OPERATING EXPENSE ($M) OPERATING MARGIN % & DILUTED EPS $594.6 $603.4 71.7% $545.1 $542.9 $528.3 69.9% 70.8% 16.1% 14.8% 14.6% 65.3% 13.6% 64.2% 9.7% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Diluted Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q2'25 Q3'25 Q4'25 Q1'26
Slide 18: Balance Sheet & Cash Flow
Q2 2026 | Balance Sheet & Cash Flow ($ in millions except for Q2’25 Q1’26 Q2’26 • As of June 30, 2026, cash and cash equivalents were DSO) $1,102.6M, and up $201.4M Y/Y. Of the $1,102.6M, $241.1M was held in the U.S. and $861.5 was held by our international Accounts Receivables, net $1,116.2 $1,125.
Slide 19: Leveraging Brand Trust to Unlock Orthodontic Growth
Q2 2026 | Leveraging Brand Trust to Unlock Orthodontic Growth Building long-term demand in a large, underserved market Advertising response underscores powerful digital reach and brand resonance • Invisalign® stands as the most trusted brand in global orthodontics, with an unwavering focus on drivin
Slide 20: Demand Creation
Q2 2026 | Demand Creation Delivering scale, engagement, and education across key consumer audiences Across all regions, our focus on education, authenticity, and scale reinforced Invisalign’s brand leadership and sustained demand creation AMERICAS EMEA APAC Social media and influencer marketing Soci
Slide 21: Business Outlook & Management Comments
Business Outlook & Management Comments ©2026 Align Technology Inc. All rights reserved.
Slide 22: Fiscal 2026 Business Outlook
Fiscal 2026 Business Outlook Assuming no circumstances occur beyond our control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees that could impact our business: Q3'26: We expect Q3’26 worldwide revenues
Slide 23: Fiscal 2026 Business Outlook
Fiscal 2026 Business Outlook Assuming no circumstances occur beyond our control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees that could impact our business: For Fiscal 2026: We continue to expect 202
Slide 24: CEO Closing Comments
CEO Closing Comments As we look at the first half of 2026, we are encouraged by the progress across the business. Through the first six months of the year, we delivered record Clear Aligner volumes, expanded doctor adoption and utilization, increased scanner placements, improved margins, and continu
Slide 25: Appendix & Additional Details
Appendix & Additional Details ©2026 Align Technology Inc. All rights reserved.
Slide 26: Unaudited Reconciliation Constant Currency Net Revenues
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Net Revenues Note: 1) We define constant currency net revenues as total net revenues excluding the effect of foreign exchange rate movements and use it to determine the percentage for the constant currency im
Slide 27: Unaudited Reconciliation Constant Currency Gross Profit and Gross Margin
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Gross Profit and Gross Margin Note: 1) We define constant currency gross profit as GAAP gross profit excluding the impacts of foreign exchange rate fluctuations on net revenues and cost of net revenues. We de
Slide 28: Unaudited Reconciliation Constant Currency Income from Operations and Operating Margin
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Income from Operations and Operating Margin Notes: 1) Beginning in Q1 2026, we define constant currency income from operations as GAAP income from operations excluding the effect of foreign exchange rate move
Slide 29: Unaudited Reconciliation Constant Currency Diluted Net Income Per Share
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Diluted Net Income Per Share Notes: 1) Constant currency diluted net income per share is computed by dividing GAAP net income excluding the impacts of foreign exchange rate fluctuations on GAAP operating inco
Slide 30: Unaudited Constant Currency Impact on Non-GAAP items
Appendix & Additional Details | Unaudited Constant Currency Impact on Non-GAAP items ©2026 Align Technology Inc. All rights reserved. 30
Slide 31: Unaudited Reconciliation Financial Measures Other Than Constant Currency
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Financial Measures Other Than Constant Currency Notes: 1) Amortization of intangible assets related to certain acquisitions. 2) During the fourth quarter of 2024 and the third quarter of 2025, we initiated restructuring plans
Slide 32: Q3 2026 and Fiscal 2026 Outlook – Reconciliation
Appendix & Additional Details | Q3 2026 and Fiscal 2026 Outlook – GAAP to Non-GAAP Reconciliation Notes: 1) Amortization of intangible assets related to certain acquisitions 2) Represents accelerated depreciation on manufacturing assets disposed of, or expected to be disposed of, other than by sale
Slide 33: Tariff Update, as of June 30, 2026
Appendix & Additional Details | Tariff Update, as of June 30, 2026 As a result of the Supreme Court's ruling on February 20, 2026, that certain of the tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were unlawful, we are no longer subject to IEEPA tariffs, but are sub
Slide 34: UK VAT Update as of July 7, 2026
Appendix & Additional Details | UK VAT Update as of July 7, 2026 Following the First-tier Tribunal's 2025 decision that clear aligners qualify as VAT-exempt dental prostheses, we stopped charging VAT to UK customers effective August 1, 2025. On July 7, 2026, the UK Upper Tribunal overturned that dec
Slide 35: Trusted digital platform
TRUSTED digital platform Connected Users and Community Connected Data and Connected Workflows New Data Sources and Seamless Experiences TM ©2026 Align Technology Inc. All rights reserved.
Slide 36: ©2026 Align Technology Inc. All rights reserved.
©2026 Align Technology Inc. All rights reserved.