Analyst Consensus ?
ConsensusBuy33 ratings
Bullish2369.7%
Neutral824.2%
Bearish26.1%
Align Technology, Inc. · ALGN · FY2025 Q2 · Calendar Q3 2025
Align Technology shifts from confident growth to restructuring and demand repair
The supplied evidence weakens the near-term growth case: demand and case conversion deteriorated, guidance sentiment was lowered and restructuring became a priority. The longer-term thesis remains dependent on product adoption, channel expansion and a recovery in financing-supported demand.
Reported After market closeNASDAQHealthcare
$10.07B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.49
Consensus $2.57
EPS surprise
-3.1%
Reported versus consensus
Reported revenue
$1.01B
Consensus $1.02B
Revenue surprise
-0.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-36.6%
Event window
SPY move
-0.4%
Same window
Abnormal move
-36.3%
Stock minus SPY
Volume
14.1×
Versus trailing sessions
Subsequent drift
+9.4%
Up to 20 sessions
ALGNSPY benchmark
Ask FN2 about ALGN FY2025 Q2
Transcript, numbers and history already loaded
Why did ALGN fall 36.6% after missing EPS estimates in FY2025 Q2?What changed in ALGN's guidance and outlook in FY2025 Q2?Give me the bull and bear case for ALGN after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the tone shifted from confident to cautious. The focus moved from product launches and margin expansion toward weaker conversion, cost reduction, manufacturing optimization and a lower near-term outlook.
Guidance delta
Management's outlook moved lower, with the supplied analysis pointing to a weaker next-quarter revenue and margin profile.
Key takeaways
- The quarter's central change was weaker clear-aligner demand and case conversion, despite support from iTero Lumina wand upgrades.
- Management is responding with cost reduction, workforce realignment and manufacturing-footprint optimization.
- Longer-term growth initiatives remain focused on Invisalign First, DSP, GP dentists, DSOs and APAC expansion.
- The key test is whether financing, tariff uncertainty and consumer confidence improve enough to restore case conversion.
Management priorities
- Improve case conversion through digital marketing and financing tools
- Execute workforce and manufacturing-footprint changes
- Expand Invisalign First and DSP offerings
- Develop GP dentist, DSO and APAC channels
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$140.65Current
$140Low
$291.62Average
$790High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 6, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | Outperform | Downgrade | Oct 5, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 23, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Apr 30, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Apr 24, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 21, 2026 |
| Barclays | Overweight | Equal Weight | Upgrade | Mar 17, 2026 |
| HSBC | Buy | Hold | Upgrade | Feb 9, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 5, 2026 |
| Stifel | Buy | Buy | Maintain | Feb 5, 2026 |
| Jefferies | Hold | Buy | Downgrade | Oct 10, 2025 |
| Needham | Hold | Hold | Maintain | May 1, 2025 |
| Leerink Partners | Outperform | Market Perform | Upgrade | Jan 6, 2025 |
| B of A Securities | Underperform | Underperform | Maintain | Dec 13, 2024 |
| Baird | Outperform | Outperform | Maintain | Oct 24, 2024 |
| OTR Global | Mixed | Positive | Downgrade | Jun 4, 2024 |
| Goldman Sachs | Sell | Sell | Maintain | Feb 2, 2024 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 28, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | May 4, 2022 |
| Wolfe Research | Outperform | Outperform | Maintain | Jul 29, 2021 |
| BNP Paribas | Outperform | Outperform | Maintain | Jul 8, 2021 |
| SVB Leerink | Outperform | Outperform | Maintain | Apr 29, 2021 |
| Berenberg | Buy | Hold | Upgrade | Apr 22, 2021 |
| Guggenheim | Buy | Buy | Maintain | Apr 18, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jul 26, 2018 |
| PiperJaffray | Overweight | Overweight | Maintain | May 24, 2018 |
| Leerink Swann | Outperform | Outperform | Maintain | May 24, 2018 |
| Deutsche Bank | Hold | Hold | Maintain | Dec 8, 2017 |
| Bank of America | Buy | Neutral | Upgrade | Jul 28, 2017 |
| Roth Capital | Buy | Buy | Maintain | Mar 23, 2016 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jan 30, 2015 |
| Barrington Research | Outperform | Market Perform | Upgrade | Apr 7, 2014 |
| Cantor Fitzgerald | Buy | Hold | Upgrade | Oct 18, 2013 |
| Janney Capital | Buy | Buy | Maintain | Jan 29, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $140.65. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $189 | $166.86 | +34.4% | Jul 23, 2026 |
| BMO Capital | Vik Chopra | $209 | $174.68 | +48.6% | Jul 8, 2026 |
| Morgan Stanley | Analyst unavailable | $188 | $190.67 | +33.7% | Apr 24, 2026 |
| Piper Sandler | Jason Bednar | $235 | $191.66 | +67.1% | Apr 21, 2026 |
| Barclays | Glen Santangelo | $200 | $187.68 | +42.2% | Feb 25, 2026 |
| HSBC | Sidharth Sahoo | $200 | $187.6 | +42.2% | Feb 9, 2026 |
| Evercore ISI | Elizabeth Anderson | $200 | $176.27 | +42.2% | Feb 5, 2026 |
| Stifel Nicolaus | Analyst unavailable | $210 | $161.3 | +49.3% | Feb 5, 2026 |
| Wells Fargo | Analyst unavailable | $200 | $173.75 | +42.2% | Feb 5, 2026 |
| Robert W. Baird | Analyst unavailable | $218 | $161.3 | +55.0% | Feb 5, 2026 |
| UBS | Analyst unavailable | $185 | $161.3 | +31.5% | Feb 5, 2026 |
| Piper Sandler | Analyst unavailable | $220 | $161.3 | +56.4% | Feb 5, 2026 |
| Mizuho Securities | Steven Valiquette | $200 | $171.49 | +42.2% | Jan 20, 2026 |
| Barclays | Analyst unavailable | $170 | $157.68 | +20.9% | Dec 8, 2025 |
| Stifel Nicolaus | Jonathan Block | $200 | $141.55 | +42.2% | Oct 30, 2025 |
| Evercore ISI | Analyst unavailable | $170 | $131.91 | +20.9% | Oct 30, 2025 |
| Piper Sandler | Jason Bednar | $200 | $131.91 | +42.2% | Oct 30, 2025 |
| Piper Sandler | Jason Bednar | $190 | $135.98 | +35.1% | Oct 23, 2025 |
| UBS | Analyst unavailable | $155 | $128.43 | +10.2% | Oct 16, 2025 |
| Mizuho Securities | Analyst unavailable | $170 | $125.79 | +20.9% | Oct 13, 2025 |
| Jefferies | Analyst unavailable | $140 | $131.87 | -0.5% | Oct 10, 2025 |
| Evercore ISI | Elizabeth Anderson | $160 | $131.12 | +13.8% | Oct 8, 2025 |
| Mizuho Securities | Analyst unavailable | $210 | $203.57 | +49.3% | Jul 31, 2025 |
| Morgan Stanley | Analyst unavailable | $154 | $142.5 | +9.5% | Jul 31, 2025 |
| Stifel Nicolaus | Jonathan Block | $275 | $207.66 | +95.5% | Oct 24, 2024 |
| Piper Sandler | Jason Bednar | $275 | $221.06 | +95.5% | Oct 24, 2024 |
| Leerink Partners | Michael Cherny | $235 | $207.66 | +67.1% | Oct 24, 2024 |
| Evercore ISI | Elizabeth Anderson | $250 | $207.66 | +77.7% | Oct 24, 2024 |
| Piper Sandler | Jason Bednar | $285 | $216.05 | +102.6% | Oct 17, 2024 |
| Stifel Nicolaus | Jonathan Block | $285 | $229.65 | +102.6% | Oct 11, 2024 |
| Goldman Sachs | Charles Perron-Piche | $225 | $231.04 | +60.0% | Oct 10, 2024 |
| Evercore ISI | Elizabeth Anderson | $270 | $234.85 | +92.0% | Oct 8, 2024 |
| Piper Sandler | Jason Bednar | $315 | $226.05 | +124.0% | Jul 25, 2024 |
| Robert W. Baird | Jeff Johnson | $325 | $251.6 | +131.1% | Jul 22, 2024 |
| Piper Sandler | Jason Bednar | $330 | $242.61 | +134.6% | Jun 21, 2024 |
| Piper Sandler | Jason Bednar | $375 | $305 | +166.6% | Apr 25, 2024 |
| Robert W. Baird | Jeff Johnson | $370 | $313.78 | +163.1% | Apr 25, 2024 |
| Stifel Nicolaus | Jonathan Block | $400 | $300.14 | +184.4% | Apr 18, 2024 |
| Stifel Nicolaus | Jonathan Block | $350 | $314.35 | +148.8% | Mar 15, 2024 |
| Piper Sandler | Jason Bednar | $355 | $320.69 | +152.4% | Mar 13, 2024 |
| Piper Sandler | Jason Bednar | $340 | $257.3 | +141.7% | Sep 9, 2022 |
| Stifel Nicolaus | Jonathan Block | $375 | $252.07 | +166.6% | Jul 26, 2022 |
| UBS | Analyst unavailable | $500 | $361.35 | +255.5% | Apr 26, 2022 |
| Piper Sandler | Analyst unavailable | $600 | $395.05 | +326.6% | Apr 21, 2022 |
| Jefferies | Brandon Couillard | $635 | $446.41 | +351.5% | Apr 3, 2022 |
| Leerink Partners | Richard Newitter | $770 | $621.87 | +447.5% | Jul 28, 2021 |
| Stephens | Chris Cooley | $700 | $627.19 | +397.7% | Jul 9, 2021 |
| BNP Paribas | Julien Ouaddour | $790 | $616.79 | +461.7% | Jul 8, 2021 |
Track every rating change on ALGN the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAlign 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 earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
Latest beats and misses
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Get the ALGN recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-06T03:50:43.074523+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-06T03:50:43.071551+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 2026-10-06. For educational purposes only; not investment advice.