Align Technology, Inc. · ALGN · FY2025 Q1 · Calendar Q2 2025

Align Technology: Raised outlook, product launches, and margin risks

The current analysis supports a constructive but qualified view: product adoption, DSO expansion and new digital-dentistry offerings support growth, while ASP, FX, tariff and demand risks remain material tests of the trajectory.

Reported After market closeNASDAQHealthcare $10.22B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $1.99
EPS surprise — Reported versus consensus
Reported revenue — Consensus $976.0M
Revenue surprise — Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.0% Event window
SPY move +0.7% Same window
Abnormal move +1.3% Stock minus SPY
Volume 1.9× Versus trailing sessions
Subsequent drift +2.4% Up to 20 sessions
ALGNSPY benchmark

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Transcript intelligence

What changed

Relative to the prior analysis, guidance sentiment moved from maintained to raised. The current analysis emphasizes 6.2% year-over-year Clear Aligner volume growth, new product clearances and launches, and a 3.5%–5.5% FY2025 revenue growth target; Systems & Services revenue was seasonally lower sequentially.

Guidance delta

Management guidance sentiment moved from maintained to raised. The current analysis cites a FY2025 revenue growth target of 3.5%–5.5% and expected sequential revenue growth in Q2.

Key takeaways

  • Clear Aligner volumes grew 6.2% year over year, supported by teen, kid and adult demand across regions.
  • iTero Lumina, the Palate Expander and Mandibular Advancement broaden the product pipeline and were central to the growth narrative.
  • Management paired the raised outlook with continued attention to foreign-exchange, tariff and elective-demand risks.

Management priorities

  • Expand iTero Lumina with restorative software throughout 2025
  • Extend Palate Expander and Mandibular Advancement availability into additional markets
  • Invest $100–$150 million in technology upgrades and manufacturing capacity while expanding DSO partnerships

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Earnings History

Estimate Beat Miss Match
ALGN EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $1.97 Q1 '24 actual $2.14, beat Q2 '24 estimate $2.34 Q2 '24 actual $2.41, beat Q3 '24 estimate $2.31 Q3 '24 actual $2.35, beat Q2 '25 estimate $2.57 Q2 '25 actual $2.49, miss Q3 '25 estimate $2.40 Q3 '25 actual $2.61, beat Q4 '25 estimate $2.99 Q4 '25 actual $3.29, beat Q1 '26 estimate $2.30 Q1 '26 actual $2.58, beat Q2 '26 estimate $2.62 Q2 '26 actual $2.64, beat Q3 '26 estimate $2.79 Q4 '26 estimate $3.27 Q1 '27 estimate $2.69
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Analyst Consensus ?

ConsensusBuy33 ratings
Bullish2369.7%
Neutral824.2%
Bearish26.1%

Analyst 52W Price Targets

$142.71Current
$140Low
$290.58Average
$790High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 10, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Stifel Buy BuyMaintainOct 9, 2026
Evercore ISI Group In Line OutperformDowngradeOct 5, 2026
UBS Neutral NeutralMaintainJul 23, 2026
Mizuho Outperform OutperformMaintainApr 30, 2026
Morgan Stanley Equal Weight Equal WeightMaintainApr 24, 2026
Piper Sandler Overweight OverweightMaintainApr 21, 2026
Barclays Overweight Equal WeightUpgradeMar 17, 2026
HSBC Buy HoldUpgradeFeb 9, 2026
Wells Fargo Overweight OverweightMaintainFeb 5, 2026
Jefferies Hold BuyDowngradeOct 10, 2025
Needham Hold HoldMaintainMay 1, 2025
Leerink Partners Outperform Market PerformUpgradeJan 6, 2025
B of A Securities Underperform UnderperformMaintainDec 13, 2024
Baird Outperform OutperformMaintainOct 24, 2024
OTR Global Mixed PositiveDowngradeJun 4, 2024
Goldman Sachs Sell SellMaintainFeb 2, 2024
Stephens & Co. Overweight OverweightMaintainJul 28, 2022
Credit Suisse Outperform OutperformMaintainMay 4, 2022
Wolfe Research Outperform OutperformMaintainJul 29, 2021
BNP Paribas Outperform OutperformMaintainJul 8, 2021
SVB Leerink Outperform OutperformMaintainApr 29, 2021
Berenberg Buy HoldUpgradeApr 22, 2021
Guggenheim Buy BuyMaintainApr 18, 2019
Stifel Nicolaus Buy BuyMaintainJul 26, 2018
PiperJaffray Overweight OverweightMaintainMay 24, 2018
Leerink Swann Outperform OutperformMaintainMay 24, 2018
Deutsche Bank Hold HoldMaintainDec 8, 2017
Bank of America Buy NeutralUpgradeJul 28, 2017
Roth Capital Buy BuyMaintainMar 23, 2016
JMP Securities Market Perform Market OutperformDowngradeJan 30, 2015
Barrington Research Outperform Market PerformUpgradeApr 7, 2014
Cantor Fitzgerald Buy HoldUpgradeOct 18, 2013
Janney Capital Buy BuyMaintainJan 29, 2013
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Named analyst price targets

Upside is calculated against the persisted current price $142.71. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Stifel NicolausJonathan Block$175$141.03 +22.6%Oct 9, 2026
UBSAnalyst unavailable$189$166.86 +32.4%Jul 23, 2026
BMO CapitalVik Chopra$209$174.68 +46.5%Jul 8, 2026
Morgan StanleyAnalyst unavailable$188$190.67 +31.7%Apr 24, 2026
Piper SandlerJason Bednar$235$191.66 +64.7%Apr 21, 2026
BarclaysGlen Santangelo$200$187.68 +40.1%Feb 25, 2026
HSBCSidharth Sahoo$200$187.6 +40.1%Feb 9, 2026
Evercore ISIElizabeth Anderson$200$176.27 +40.1%Feb 5, 2026
Stifel NicolausAnalyst unavailable$210$161.3 +47.2%Feb 5, 2026
Wells FargoAnalyst unavailable$200$173.75 +40.1%Feb 5, 2026
Robert W. BairdAnalyst unavailable$218$161.3 +52.8%Feb 5, 2026
UBSAnalyst unavailable$185$161.3 +29.6%Feb 5, 2026
Piper SandlerAnalyst unavailable$220$161.3 +54.2%Feb 5, 2026
Mizuho SecuritiesSteven Valiquette$200$171.49 +40.1%Jan 20, 2026
BarclaysAnalyst unavailable$170$157.68 +19.1%Dec 8, 2025
Stifel NicolausJonathan Block$200$141.55 +40.1%Oct 30, 2025
Evercore ISIAnalyst unavailable$170$131.91 +19.1%Oct 30, 2025
Piper SandlerJason Bednar$200$131.91 +40.1%Oct 30, 2025
Piper SandlerJason Bednar$190$135.98 +33.1%Oct 23, 2025
UBSAnalyst unavailable$155$128.43 +8.6%Oct 16, 2025
Mizuho SecuritiesAnalyst unavailable$170$125.79 +19.1%Oct 13, 2025
JefferiesAnalyst unavailable$140$131.87 -1.9%Oct 10, 2025
Evercore ISIElizabeth Anderson$160$131.12 +12.1%Oct 8, 2025
Mizuho SecuritiesAnalyst unavailable$210$203.57 +47.2%Jul 31, 2025
Morgan StanleyAnalyst unavailable$154$142.5 +7.9%Jul 31, 2025
Stifel NicolausJonathan Block$275$207.66 +92.7%Oct 24, 2024
Piper SandlerJason Bednar$275$221.06 +92.7%Oct 24, 2024
Leerink PartnersMichael Cherny$235$207.66 +64.7%Oct 24, 2024
Evercore ISIElizabeth Anderson$250$207.66 +75.2%Oct 24, 2024
Piper SandlerJason Bednar$285$216.05 +99.7%Oct 17, 2024
Stifel NicolausJonathan Block$285$229.65 +99.7%Oct 11, 2024
Goldman SachsCharles Perron-Piche$225$231.04 +57.7%Oct 10, 2024
Evercore ISIElizabeth Anderson$270$234.85 +89.2%Oct 8, 2024
Piper SandlerJason Bednar$315$226.05 +120.7%Jul 25, 2024
Robert W. BairdJeff Johnson$325$251.6 +127.7%Jul 22, 2024
Piper SandlerJason Bednar$330$242.61 +131.2%Jun 21, 2024
Piper SandlerJason Bednar$375$305 +162.8%Apr 25, 2024
Robert W. BairdJeff Johnson$370$313.78 +159.3%Apr 25, 2024
Stifel NicolausJonathan Block$400$300.14 +180.3%Apr 18, 2024
Stifel NicolausJonathan Block$350$314.35 +145.3%Mar 15, 2024
Piper SandlerJason Bednar$355$320.69 +148.8%Mar 13, 2024
Piper SandlerJason Bednar$340$257.3 +138.2%Sep 9, 2022
Stifel NicolausJonathan Block$375$252.07 +162.8%Jul 26, 2022
UBSAnalyst unavailable$500$361.35 +250.4%Apr 26, 2022
Piper SandlerAnalyst unavailable$600$395.05 +320.4%Apr 21, 2022
JefferiesBrandon Couillard$635$446.41 +345.0%Apr 3, 2022
Leerink PartnersRichard Newitter$770$621.87 +439.6%Jul 28, 2021
StephensChris Cooley$700$627.19 +390.5%Jul 9, 2021
BNP ParibasJulien Ouaddour$790$616.79 +453.6%Jul 8, 2021
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Company context

Snapshot as of publication

Align Technology, Inc. is a medical technology enterprise that develops, produces, and markets its leading products: Invisalign transparent dental aligners and iTero digital intraoral scanners, along with related services. These offerings serve a wide range of dental professionals, including orthodontists, general dentists, and those specializing in restorative and cosmetic dentistry. The company's operations are divided into two main business units: "Clear Aligner" and "Scanners and Services." The Clear Aligner segment offers a variety of solutions. Its comprehensive products include the full Invisalign treatment for teenage patients, designed to address complex orthodontic needs such as mandibular advancement, patient compliance tracking, and managing tooth eruption. It also features specialized Invisalign First Phase I and Phase 2 packages for younger children, typically aged seven to ten, who have mixed dentition (a combination of primary and permanent teeth).…

Historical context

All ALGN earnings

Healthcare peers this season

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-16T00:02:45.914612+00:00
  3. Polygon adjusted daily market bars · 2026-10-10T08:00:45.967496+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T08:00:45.964591+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.