ALGN changes
Pick any two versions below to diff them.
- Price
- $147.31 → $151.37(+2.8%)
- Discount
- 11% to 34% → 8% to 32%(−3.0 pts)
- Risks
- Clear aligners face more competition, including lower-priced products. Align expects its 2026 Clear Aligner average price to be flat to slightly down. More price pressure can lower revenue growth and margins. Demand for orthodontic treatment depends on consumer spending, and many adult patients pay themselves. Imaging Systems and CAD/CAM Services revenues fell 10.8% in Q2 2026, because dentists bought fewer capital goods. A weak economy can slow both businesses. Align faces antitrust class actions and other lawsuits. At June 30, 2026, it had accrued $31.8 million for legal settlements, mostly for one antitrust class action, and it recorded a $38 million liability for UK VAT in Q2 2026. New rulingsThe European Commission also investigates whether Align linked its iTero scanners to Invisalign against EU competition rules. An adverse result can cause further costsbring a fine and force changes to how Align connects scanners and aligners. The board, the chairman and the chief legal officer changed in 2026, and an operating model review with a consulting firm is under way. Large changes can distract management, and the review may not give the expected savings.
- Recent events
- 2026-08-27: The board appointed Quentin Blackford as a director and increased the board to eleven members. 2026-07-29: Align reported Q2 2026 results. Revenues rose 4.3% to a record $1.06 billion, and Clear Aligner volume rose 7.4% to a record 691.8 thousand cases. Imaging Systems and CAD/CAM Services revenues fell 10.8%. GAAP EPS was $1.51, after a $38 million UK VAT liability, and non-GAAP EPS was $2.64. Align expected Q3 2026 revenues of $1,000 million to $1,020 million and kept its 2026 revenue growth outlook of 3% to 4%. 2026-07-29: After talks with Elliott Investment Management, Align said that it will add three new independent directors and review its strategy and operating model with a global consulting firm. It raised its 2026 share repurchase plan to $400 million to $500 million. 2026-07-06: Julie Coletti, Chief Legal and Regulatory Officer, resigned to join Illumina as Chief Legal Officer, effective August 1, 2026. 2026-06-30: The European Commission opened a formal antitrust investigation into Align. It examines whether Align abused a dominant position for Invisalign aligners, because Invisalign did not accept orders and scans from competing intraoral scanners. Align said that it will cooperate and that the opening of the investigation is a procedural step. 2026-06-17: C. Raymond Larkin, Jr. said that he will retire as Chairman on July 1, 2026, and leave the board on December 31, 2026. The board named Kevin Conroy, an independent director, as Chairman from July 1, 2026.