Slide 1: Align Technology Q1 2026
Align Technology Q1 2026 | April 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 grow in 2026 and beyond, actively manage our business with focus and discip
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: Q1 2026 Financial Results
Q1 2026 Financial Results ©2026 Align Technology Inc. All rights reserved.
Slide 5: Highlights
Q1 2026 | Highlights Better-than-expected Q1. Continued strength of Invisalign® demand across age groups and geographies • We’re pleased to report another better-than-expected quarter, with Q1 revenues, Clear Aligner volumes, and both GAAP and non-GAAP operating margins exceeding our outlook. These
Slide 6: Revenues and Operating Performance
Q1 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 Q1’26: $1,040.1M Q1’26: $184.1M Q1’26: $856.0M Q1’26: $142.0M | 13.6
Slide 7: Revenue Summary Commentary
Q1 2026 | Revenue Summary Commentary Record first-quarter revenues driven primarily by higher Clear Aligner volumes and increased ASPs • Q1'26 Total revenues were $1,040.1M, +6.2% Y/Y • Y/Y, On a constant currency basis, Q1'26 revenues were favorably impacted by FX of ~$44.9M or ~4.5%*, in-line with
Slide 8: Trended Revenues, Clear Aligner Case Volume, and Intl Mix Trends
Q1 2026 | Trended Revenues, Clear Aligner Case Volume, and Intl Mix Trends Continued international adoption Q1’26 NET REVENUES Q1’26 CLEAR ALIGNER CASE VOLUME +6.2% Y/Y +6.7% Y/Y ($M) (#K) (0.7)% Q/Q +1.3% Q/Q $1,012.4 $1,047.6 $1,040.1 $979.3 $995.7 676.9 685.7 $209.4 $184.1 642.3 644.4 647.8 $182.
Slide 9: Regional Performance Overview
Q1 2026 | Regional Performance Overview Clear Aligner volumes increased across all regions―solid momentum across adult, teen/growing kid categories, strong DSO performance AMERICAS EMEA APAC • Clear Aligner volumes up Y/Y, very strong • Clear Aligner volumes up double-digit • Clear Aligner volumes u
Slide 10: Driving Adoption Through Targeted Initiatives
Q1 2026 | Driving Adoption Through Targeted 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 Mentoring Treat
Slide 11: Clear Aligner Performance: Volume, Utilization, and ASP
Q1 2026 | Clear Aligner Performance: Volume, Utilization, and ASP WW CLEAR ALIGNER WW CLEAR ALIGNER CLEAR ALIGNER SHIPMENTS TOTAL UTILIZATION* REVENUE PER CASE SHIPMENT (#K) +6.7% Y/Y $1,400 $1,300 +1.3% Q/Q $1,200 7.5 7.7 7.8 676.9 685.7 642.3 $1,100 $1,000 $900 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25
Slide 12: Trended GAAP Gross Margins
Q1 2026 | Trended GAAP Gross Margins GROSS MARGIN % • Overall, Q1'26 gross margin was 70.8%, +1.4 pts Y/Y primarily due to operational efficiencies and +1.4% Y/Y higher Clear Aligner ASP • Y/Y, Q1’26 overall gross margin was unfavorably impacted by FX of ~0.4 pts* +5.6% Q/Q • On a non-GAAP basis, wh
Slide 13: Trended GAAP Operating Expenses
Q1 2026 | Trended GAAP Operating Expenses OPERATING EXPENSE ($M) • Q1'26 Operating expenses were $594.6M, +8.3% Y/Y +8.3% Y/Y • Y/Y, Q1'26 operating expenses increased by +$45.6M, primarily due to legal settlement cost and higher +12.6% Q/Q employee compensation $594.6 • On a non-GAAP basis, excludi
Slide 14: Trended GAAP Operating Margin and EPS
Q1 2026 | Trended GAAP Operating Margin and EPS OPERATING MARGIN % & DILUTED EPS • Q1'26 Operating income of $142.0M resulting in a Q1'26 operating margin of 13.6%, +0.3 pts Y/Y +0.3% Y/Y • Q1'26 Operating margin was unfavorably impacted from FX by ~0.1 pts Y/Y* • Q1'26 non-GAAP Operating margin, wh
Slide 15: Structural Margin Expansion Beyond Mix and Cost Actions
Q1 2026 | Structural Margin Expansion Beyond Mix and Cost Actions Operational improvements tied to scale, data, and manufacturing efficiency are increasingly driving margins over time • Margin expansion is increasingly driven by lower refinement rates, improved treatment predictability, and higher m
Slide 16: Broadening the Invisalign Portfolio: Comp Zero AA Configuration
Q1 2026 | Broadening the Invisalign® Portfolio: “Comp Zero AA” Configuration Builds on established margin and cash efficiency from fewer additional aligner offerings Delivered double-digit year-over-year growth off an early base, reflecting initial momentum Comp Zero AA Market Availability AMS | EME
Slide 17: Leveraging Brand Trust to Unlock Orthodontic Growth
Q1 2026 | Leveraging Brand Trust to Unlock Orthodontic Growth Building long-term demand in a large, underserved market • Invisalign® stands as the most trusted brand in global orthodontics, with an unwavering focus on driving long-term demand—even amid challenging macro conditions for doctors and pa
Slide 18: Meaningful Progress In Demand Creation
Q1 2026 | Meaningful Progress In Demand Creation Delivering scale, engagement, and education across key consumer audiences AMERICAS EMEA APAC Social media and influencer marketing New market launch Sweden Real stories - Real patients Teen, Adult and Moms of teens (Eng language allowing us to repurpo
Slide 19: Clear Aligner Shipments by Patient Segment
Q1 2026 | Clear Aligner Shipments by Patient Segment ~22.8M* patients treated WW including ~6.8M* teens and kids: patient adoption continues to expand globally Invisalign® Palatal Expander Enables Controlled, Skeletal-Driven Expansion WW CLEAR ALIGNER SHIPMENTS TEENS AND KIDS WW CLEAR ALIGNER SHIPME
Slide 20: Systems and Services Segment
Q1 2026 | Systems and Services Segment Accelerating digital adoption IMAGING SYSTEMS AND CAD/CAM SERVICES ($M) SYSTEMS & SERVICES REVENUES +0.9% Y/Y (12.1)% Q/Q $209.4 $182.4 $184.1 iTero Lumina scanner in PC configuration The iTero Lumina digital imaging system provides a foundational infrastructur
Slide 21: exocad CAD/CAM software
Q1 2026 | exocad CAD/CAM software Leveraging exocad to expand our digital platform across orthodontic and restorative applications • exocad delivered double-digit Y/Y revenue growth, reinforcing our strategy to integrate orthodontics and restorative dentistry within a customer and patient-centric di
Slide 22: Trended Quarterly Financials GAAP and Non-GAAP
Q1 2026 | Trended Quarterly Financials GAAP GROSS MARGIN % OPERATING EXPENSE ($M) OPERATING MARGIN % & DILUTED EPS $594.6 $549.0 $545.1 $542.9 $528.3 69.5% 69.9% 70.8% 16.1% 14.8% 65.3% 13.4% 13.6% 64.2% 9.7% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Diluted Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q1'25 Q2'25 Q3'25 Q4'25
Slide 23: Balance Sheet & Cash Flow
Q1 2026 | Balance Sheet & Cash Flow • As of March 31, 2026, cash and cash equivalents were $1,059.8M, and up $186.8M Y/Y. Of the $1,059.8M, $206.6M was held in the U.S. and $853.2M was held by our international ($ in millions except for DSO) Q1’25 Q4’25 Q1’26 entities • Align maintains a disciplined
Slide 24: Business Outlook & Management Comments
Business Outlook & Management Comments ©2026 Align Technology Inc. All rights reserved.
Slide 25: Fiscal 2026 Business Outlook
Fiscal 2026 Business Outlook With Q1’26 results as a backdrop, we remain focused on executing our strategic growth initiatives and building on the recent quarterly results. At the same time, there is uncertainty and the potential for adverse impacts on patient traffic, consumer demand and shipping/f
Slide 26: CEO Closing Comments
CEO Closing Comments Stepping back, we’re pleased with our Q1 performance and the consistency of execution we’re seeing across the business. Growth this quarter was broad-based across regions, patient segments, and channels, supported by record submitters for a first quarter and higher utilization w
Slide 27: Appendix & Additional Details
Appendix & Additional Details ©2026 Align Technology Inc. All rights reserved.
Slide 28: Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Net Revenues
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Net Revenues ALIGN TECHNOLOGY, INC. UNAUDITED GAAP TO NON-GAAP RECONCILIATION+ CONSTANT CURRENCY NET REVENUES (in thousands, except percentages) Sequential constant currency analysis: Note: Three Months Ended
Slide 29: Constant Currency Gross Profit and Gross Margin
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Gross Profit and Gross Margin ALIGN TECHNOLOGY, INC. UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED+ CONSTANT CURRENCY GROSS PROFIT AND GROSS MARGIN Note: (in thousands, except percentages) 1) We define
Slide 30: 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 ALIGN TECHNOLOGY, INC. UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED+ CONSTANT CURRENCY INCOME FROM OPERATIONS AND OPERATING MARGIN Notes: (in thousands, exce
Slide 31: Constant Currency Diluted Net Income Per Share
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Diluted Net Income Per Share ALIGN TECHNOLOGY, INC. UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED+ Notes: CONSTANT CURRENCY DILUTED NET INCOME PER SHARE (in dollars) 1) Constant currency diluted net inc
Slide 32: Financial Measures Other Than Constant Currency
Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Financial Measures Other Than Constant Currency ALIGN TECHNOLOGY, INC. UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED + FINANCIAL MEASURES OTHER THAN CONSTANT CURRENCY (in thousands, except per share data) Three Months En
Slide 33: Q2 2026 and Fiscal 2026 Outlook – GAAP to Non-GAAP Reconciliation
Appendix & Additional Details | Q2 2026 and Fiscal 2026 Outlook – GAAP to Non-GAAP Reconciliation ALIGN TECHNOLOGY, INC. Notes: Q2 2026 OUTLOOK - GAAP TO NON-GAAP RECONCILIATION 1) Amortization of intangible assets related to certain GAAP operating margin Approximately 16.4% acquisitions Stock-based
Slide 34: Tariff Update as of March 31, 2026
Appendix & Additional Details | Tariff Update as of March 31, 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 su
Slide 35: Market Opportunity
Appendix & Additional Details | Market Opportunity Large global Clear Aligner market that remains structurally underserved GP OPPORTUNITY ORTHO OPPORTUNITY 600M+ Potential patients 22M+ Starts per year Total addressable market (TAM) Served addressable market (SAM) ~75% of the population Invisalign®
Slide 36: It starts with an iTero scanner at every chair
Appendix & Additional Details | Market Opportunity It starts with an iTero scanner at every chair 2M GLOBAL DOCTORS 125K+ active units* ~50% of market share Majority of surveyed Invisalign® trained doctors and their staff agree that the iTero Lumina intraoral scanner scanning experience helps remove
Slide 37: 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 38: ©2026 Align Technology Inc. All rights reserved.
©2026 Align Technology Inc. All rights reserved.