ALGN Q3 2026 Financial Slides and Historical Data

Align Technology (ALGN)

and improved profitability

Third Quarter 2026 earnings

October 28, 2026

©2026 Align Technology Inc. All rights reserved. 1

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, constant currency gross profit, constant currency gross margin, constant currency income from operations, constant currency operating margin, constant currency diluted net income per share, non-GAAP constant currency gross margin, non-GAAP constant currency operating margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP total operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income before provision for income taxes, non-GAAP provision for income taxes, non-GAAP effective tax rate, non-GAAP net income and non-GAAP diluted net income per share. These non-GAAP financial measures exclude certain items that may not be indicative of our fundamental operating performance, including foreign currency exchange rate impacts, the effects of stock-based compensation, amortization of intangible assets, restructuring and other charges, legal settlements and contingencies, acquisition-related costs, discrete cash and non-cash charges or gains and associated tax impacts that are included in the most directly comparable GAAP financial measure.

Our management believes that the use of certain non-GAAP financial measures provides meaningful supplemental information regarding our recurring core operating performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making, and (2) they are used by our institutional investors and the analyst community to help them analyze the performance of our business.

There are material limitations to using non-GAAP financial measures as they are not prepared in accordance with U.S. GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. Non-GAAP financial measures exclude certain items that may have a material impact upon our reported results of operations, which can limit their usefulness for comparison purposes. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges and gains are excluded or included from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on both a GAAP and non-GAAP basis and by providing specific information regarding the GAAP amounts excluded or included from these non-GAAP financial measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for, superior to, or in isolation from, the directly comparable financial measures prepared in accordance with U.S. GAAP. We urge investors to review the reconciliation of our GAAP financial measures to the comparable non-GAAP financial measures included herein and not to rely on any single financial measure to evaluate our business. For more information on these non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the tables captioned "Unaudited GAAP to Non-GAAP Reconciliation."

Q3 2026 revenue overview

Quarterly revenue by segment ($M)

+1.9% Y/Y

(3.9)% Q/Q

$839.3

$838.1

$870.9

$856.0

$995.7 $1,047.6 $1,040.1 $1,056.2 $1,014.8

Q3 2026 revenue

+2.4% at constant currency

+4.2%

Clear Aligner revenue Y/Y

+4.7% at constant currency

(7.6)%

Systems & Services revenue Y/Y

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Clear Aligner Systems & Services

(7.1)% at constant currency

Like-for-like scanner pricing stabilized during the quarter

Higher doctor participation and utilization support volume growth

90.9K

Q3 doctor submitters, +3.1% Y/Y

7.6

Q3 utilization, +3.4% Y/Y

$1,215

Revenue per case

Case shipments (000s) Doctor utilization* Revenue per case ($)

(2.3)% Y/Y, or 1.8% at constant currency,

+6.6% Y/Y

(0.2)% Q/Q

8.0

7.8

consistent with expectations.

$1,300

800

600

400

200

0

647.8 691.8 690.6

Q3'25 Q2'26 Q3'26

7.5

7.0

7.6

7.3

Q3'25 Q2'26 Q3'26

$1,250

$1,200

$1,150

1,245

1,240

1,250

1,260

1,215

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

*Number of cases shipped/number of doctors to whom cases were shipped.

Regional performance and priorities

AMERICAS

+1.5%

Clear Aligner shipments Y/Y

First North America orthodontist shipment growth in 6 quarters. DSOs grew double digits; retail remains pressured, especially GP. Ortho retail shipments improved Q/Q, including growth across both Ortho and GP customers.

Latin America grew double digits across channels.

Through sustained efforts to further our progress, we believe we can return North America to growth.

Commercial priorities

o

Patient financing through HFD and a CareCredit pilot; SHIFT Happens conversion. Latin America: DSP, Invisalign® Pay and broader iTer access.

EMEA

Retail Clear Aligner shipments Y/Y

Total Clear Aligner shipments and DSOs grew double digits. Strong utilization across orthodontists and GP dentists supported growth.

Commercial priorities

a

Orthodontist utilization, younger patients and Class II education. GP workflows and ART; DSO conversion. Expand Lumin PC and partnerships.

APAC

Retail Clear Aligner shipments Y/Y

Total Clear Aligner shipments grew year-over-year and double digits sequentially. Record doctor submitters and double-digit teen growth, led by China.

Commercial priorities

o

China coverage, lower-tier cities, DSOs and younger patients. Japan conversion and iTer . Build on India, Korea and Taiwan momentum; improve customer experience.

Clear Aligner shipments grow across age groups

~7.3M

GLOBAL PATIENT REACH

Teens and kids treated globally

As of Q3 2026

Teens and kids Adults

Q3 2026 shipments

+7.3% Y/Y

+14.8% Q/Q

Q3 2026 shipments

+6.2% Y/Y

(8.1)% Q/Q

256

231

237

239

275

446

449

453

392

416

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Clear Aligner shipments in thousands.

Affordability and clinical support address barriers to case starts

Doctor Subscription Program

Simplified pricing supports practice economics

DSP retention shipments:

Double-digit growth Y/Y

Patient financing

HFD and Invisalign® Pay address patient affordability

HFD financing adoption is expanding. Invisalign Pay supports growth in Brazil.

New North America CareCredit pilot supports treatment conversion.

STRATEGIC OUTCOME

Invisalign® adoption

No AA

Peer mentoring Clinical education builds provider confidence

Education-based programs are helping drive case growth in North America, with peer-to-peer mentoring also supporting growth in EMEA.

Treatment Planning Services

Case assessment and planning support

Treatment planning referrals converting to approved cases among participating doctors in North America.

Q3 No AA shipments:

Triple-digit growth Y/Y

Broader access to Invisalign treatment Lower upfront pricing Doctors pay for additional

aligners as needed

Attractive long-term economics

Lower costs support

gross margins and cash conversion

JULY 2026

Invisalign® treatment acceptance Broader case applicability

Visualization tools help patients understand treatment

Invisalign® Palatal Expander System enhancements support planning for more growing-patient cases

n

Alig Oral Health Suite

New: Gumlines

Invisalign® Outcome Simulator Pro

New: Occlusogram & Arch Control

New: 3D Tissue Animation in ClinCheck®

New: Integrated hooks*

New: Eruption compensation

New: Expansion visualization

*Availability varies by local market regulatory approval.

©2026 Align Technology Inc. All rights reserved. 9

iTer

adoption expands as acquisition models shift

$175.5M

Systems & Services revenue

(7.6)% Y/Y; (5.3)% Q/Q

o

Reported revenue reflects a deliberate strategic shift toward flexible acquisition models rather than weakening demand.

LARGER DIGITAL FOOTPRINT

157K+

Total number of scanner units placed

(includes leased, rented and CPO systems)

FLEXIBLE ACQUISITION MODELS

Leased units growth, Y/Y

Customer focused solutions are designed to lower the initial barrier to adoption, expand our customer footprint and give doctors more ways to access our digital technology

PRACTICE PRODUCTIVITY

More new-patient exam capacity¹

11-location pilot

a

iTero Lumin + Invisalign® Practice App Same staffing and operating hours

¹Smile Doctors pilot, not a company-wide result.

Non-GAAP operating margin expands to 24.4%

GAAP operating margin: 16.7%, up 7.0 percentage points Y/Y

GAAP Gross margin

Non-GAAP operating margin

Non-GAAP diluted EPS

$2.80

$1.90

24.4%

$528.3M

68.7%

Result

Q3 earnings metric

Operating margin

GAAP: +7.0 % pts Y/Y; +2.1 % pts Q/Q

Non-GAAP: +0.5 % pts Y/Y; +1.5 % pts Q/Q

26.1%

23.9%

21.5%

22.9%

24.4%

14.8%

13.6%

14.6%

16.7%

9.7%

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

GAAP margin Non-GAAP margin

Non-GAAP operating income increased $10.0M Y/Y. Lower excluded adjustments lifted GAAP results.

See Appendix to this presentation for more information, including GAAP to non-GAAP reconciliations.

Cash generation supports investment and shareholder returns

©2026 Align Technology Inc. All rights reserved.

13

Consumer marketing builds awareness of Invisalign® treatment and encourages prospective patients to connect with an Invisalign-trained doctor.

Strategic intent

Educate prospective patients and encourage consultation with an Invisalign®-trained doctor.

6.8B

Global impressions

33M

Global website visits

REGIONAL ACTIVATION IMPRESSIONS UNIQUE WEBSITE VISITORS

AMERICAS

Patient stories across social media, influencers and live experiences

EMEA

Showcased local stories featuring adults

+ teenagers to reach parents + teens

APAC

Local patient stories and science education across China, Japan, India and Australia

1.1B 3.8M

0.5B 4.2M

5.2B 25.1M

Brand power

Campaign launched in the U.S.

Doctor and consumer recognition supports demand creation.

Global scale, local execution

Regional execution adapts the commercial model to local markets.

Doctor, DSO and lab distribution

Customer and partner channels broaden access to treatment.

Deep technology capabilities

Integrated capabilities support digital treatment workflows.

Double-digit

INTL case growth Y/Y

Double-digit

DSO shipments growth Y/Y

12.9M+

+14% Y/Y

Restorative, wellness and orthodontic scans

Data as of Q3'26.

Fourth Quarter and Fiscal 2026

New Gumlines viewing tool*

n

Alig Oral Health Suite

*CEJ may be inaccurately visualized if located under the gumline, along with other clinical fac

tors.

©2026 Align Technology Inc. All rights reserved. 16

Q4 2026 outlook

We were pleased to deliver third-quarter revenue and Clear Aligner volume in line with our outlook while improving year-over-year profitability. Consistent with our first and second quarters, these results were achieved against a challenging market backdrop, as demand across the dental and orthodontic industry continued to be affected by a softer environment for discretionary healthcare spending and capital equipment investment. Those conditions persisted through the third quarter and our fourth-quarter outlook reflects what we continue to see across the broader market.

Our updated 2026 guidance reflects a reduction in expected reported revenue versus our prior outlook provided at Q2, driven by two main factors.

First, our Q4 Systems and Services revenues outlook is lower than prior guidance. Although we expect scanner volume growth and saw scanner ASPs stabilize on a like-for-like basis during Q3, product mix continues to shift towards lower-priced scanners and more flexible acquisition models--which resonates well with customers amid a more challenging environment for capital equipment purchases.

Second, we have slightly lowered our Clear Aligner volume and ASP assumptions, largely driven by product and geographic mix, in addition to foreign exchange.

Assuming no circumstances occur beyond our control that could impact our business:

• We expect worldwide revenues to be in the range of $1,000M to $1,020M.

• We expect Clear Aligner volume growth to be up low single-digits year-over-year and Q4'26 Clear Aligner ASP to be down approximately 1% year-over-year.

• We expect Q4'26 Systems and Services revenue to be in the range of $170M to $180M.

• We expect Q4'26 GAAP gross margin to be approximately 71.0%.

• We expect Q4'26 non-GAAP gross margin to be approximately 72.0%.

• We expect Q4'26 GAAP operating margin to be approximately 20.0%.

• We expect Q4'26 non-GAAP operating margin to approximately 26.0%.

• For Q4'26, we expect to repurchase up to $300M or our common stock.

  Fiscal 2026 outlook

  Assuming no circumstances occur beyond our control that could impact our business:

• We expect 2026 worldwide revenue to be approximately in the range of $4,110M to $4,130M.

• We continue to expect 2026 Clear Aligner volume and revenue growth to be up approximately 5% to 6% year-over-year.

• We expect 2026 Clear Aligner ASP to be slightly down from 2025.

• We expect 2026 Systems and Services revenue to be $715M to $725M.

• We expect 2026 GAAP Operating Margin to be approximately 16.2%, up approximately 2.7 points year-over-year.

• We expect 2026 non-GAAP Operating Margin to be approximately 23.7%, a 100-basis point improvement year-over-year consistent with our previous guidance.

• We expect our investments in capital expenditures for fiscal 2026 to be $125M to $150M.

• We expect to repurchase approximately $500M of common stock during 2026, reflecting the conviction of our Board and management in Align's long-term value.

  Preliminary 2027 framework

• As we look to 2027, we believe we are positioned to deliver another year of revenue growth and margin expansion. Importantly, our preliminary planning assumes an operating environment broadly consistent with current conditions and does not require a consumer recovery.

• We expect to continue driving Invisalign volume growth in 2027. Record doctor submitters, improving utilization and the growth initiatives discussed today support that confidence, with additional initiatives under development. We also continue to expect a broadly stable Clear Aligner pricing environment, with ASPs slightly down, driven primarily by product and geographic mix.

• For Systems and Services, 2026 has been a transition year for revenue. We expect solid unit growth and continued expansion of our installed base, and we expect stable ASPs, positioning Systems and Services for revenue growth in 2027.

• On profitability, we continue to target at least another 100-basis points of non-GAAP operating-margin improvement in 2027, building on the approximately 100-basis points we expect to deliver in 2026. Our focus is on improving efficiency while preserving investment in the initiatives that support sustainable revenue growth.

• Share repurchases should provide an additional benefit to earnings per share growth, as we continue to view buybacks as an attractive use of capital at prices that we do not believe reflect Align's long-term value-creation potential.

• We will provide our full 2027 outlook when we report fourth-quarter results.

Reference slides and GAAP to non-GAAP reconciliations

New Invisalign® Palatal Expander System with integrated hooks*

*Availability varies by local regulatory approval.

©2026 Align Technology Inc. All rights reserved. 20

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except percentages)

Notes to slide 21

(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 impact on net revenues on a sequential and year-over-year basis. Constant currency impact in dollars is calculated by translating the current period GAAP net revenues using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues. The percentage for the constant currency impact on net revenues is calculated by dividing the constant currency impact in dollars (numerator) by constant currency net revenues in dollars (denominator).

(3) 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.

(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except percentages)

See notes on slide 24

Notes to slide 23

(1) Beginning in Q1 2026, we define constant currency income from operations as GAAP income from operations excluding the effect of foreign exchange rate movements for GAAP gross profit and operating expenses on a sequential and year-over-year basis. Constant currency impact in dollars is calculated by translating the current period gross profit and operating expenses using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues and operating expenses.

(2) We define constant currency operating margin as constant currency income from operations as a percentage of constant currency net revenues. Operating margin constant currency impact is the increase or decrease in constant currency operating margin compared to the GAAP operating margin.

(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.

Unaudited GAAP to non-GAAP Reconciliation+ (in dollars)

Three Months Ended

Three Months Ended

September 30,

June 30,

September 30,

2026

2026

2026

2025

See notes on slide 26

Notes to slide 25

(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 income and non-operating income and expense by the weighted average diluted shares outstanding during the period. Diluted net income per share constant currency impact is the increase or decrease in constant currency diluted net income per share compared to the GAAP diluted net income per share.

(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.

Constant Currency Impact on Non-GAAP Items+

Unaudited non-GAAP constant currency reconciliation+ (in thousands, except percentages)

See notes on slide 28 pp = percentage points

Constant Currency Impact on Non-GAAP Items

Notes to slide 27

1. We define Non-GAAP constant currency gross profit as Non-GAAP gross profit, as reconciled to GAAP gross profit, excluding the impacts of foreign exchange rate fluctuations on Non-GAAP gross profit. We define Non-GAAP constant currency gross margin as Non-GAAP constant currency gross profit as a percentage of constant currency net revenues.

2. We define Non-GAAP constant currency income from operations as Non-GAAP income from operations, as reconciled to GAAP income from operations, excluding the impacts of foreign exchange rate fluctuations on Non-GAAP income from operations. We define Non-GAAP constant currency operating margin as Non-GAAP constant currency income from operations as a percentage of constant currency net revenues.

(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.

Gross Profit and Gross Margin

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except per share data)

Operating Expenses, Income and Margin

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except per share data)

Income Before Tax and Income Taxes

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except per share data)

Net Income and Diluted Earnings Per Share

Unaudited GAAP to non-GAAP Reconciliation+ (in thousands, except per share data)

Financial Measures other than Constant Currency

Notes to slides 29-32

(1) Amortization of intangible assets.

(2) During the third quarter of 2026 and 2025, we initiated restructuring plans to reduce headcount and increase efficiency across the organization and lower the overall cost structure. Restructuring charges are primarily related to involuntary termination benefits, including employee severance and other post-employment benefits.

(3) During the third quarter 2025, we originally recorded an impairment loss related to a manufacturing facility disposal group that met the criteria to be classified as assets held for sale. During the first quarter of 2026, we recognized a gain of $11.7 million resulting from an increase in fair value less costs to sell related to these assets held for sale.

(4) During the third quarter 2025, we initiated the disposal, other than by sale, of certain manufacturing fixed assets. Accordingly, we revised the useful lives of these assets and recorded accelerated depreciation expense.

(5) During the third quarter 2025, we recorded an impairment loss for obsolete inventory.

(6) During the first quarter 2026, we recorded other non-recurring charges related to the disposal of certain manufacturing fixed assets, in connection with our 2025 restructuring plan.

(7) During the third quarter 2026, and second quarter 2026, we recorded approximately $5.6 million and $37.5 million, respectively, related to UK VAT contingency loss, and approximately $1.0 million and $1.2 million, respectively, related to legal settlements.

(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.

Fourth Quarter 2026 | Financial Guidance

GAAP to non-GAAP Reconciliation

Percentages do not add up due to rounding. Percentages do not add up due to rounding.

Notes:

(1) Amortization of intangible assets

(2) In the fourth quarter 2026, we anticipate one-time charge of approximately

$2M related to contract terminations in connection with the 2026 restructuring plan.

Notes:

(1) Amortization of intangible assets

(2) In the fourth quarter 2026, we anticipate incurring restructuring and other charges of approximately $7-9M, related to early termination of leases and involuntary termination benefits, including employee severance and other post-employment benefits.

Full Year 2026 | Financial Guidance

GAAP to non-GAAP Reconciliation

Percentages do not add up due to rounding.

Notes:

(1) Amortization of intangible assets

(2) First quarter 2026, we initiated the disposal of certain manufacturing fixed assets, in connection with our 2025 restructuring plan. Accordingly, we revised the useful lives of these assets and recorded accelerated depreciation expense.

(3) During the third quarter 2025, we originally recorded an impairment loss related to a manufacturing facility disposal group that met the criteria to be classified as assets held for sale. During the first quarter of 2026, we recognized a gain of $11.7 million resulting from an increase in fair value less costs to sell related to these assets held for sale.

(4) During the third quarter 2026, and second quarter 2026, we recorded approximately $5.6 million and $37.5 million, respectively, related to UK VAT contingency loss, and approximately $1.0 million and $1.2 million, respectively, related to legal settlements.

(5) Restructuring charges are primarily related to involuntary termination benefits, including employee severance and other post-employment benefits.

©2026 Align Technology Inc. All rights reserved.

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