Align Technology Inc. (ALGN) financial statements: income statement, balance sheet and cash flow

Align Technology Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Align Technology Inc. reported revenue of $4.0B (+0.9% year on year) and net income of $585.3M (-3.9% year on year).

Income statement

Align Technology Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net revenues	$4.0B	$4.0B	$3.9B	$3.7B
Cost of net revenues	$1.3B	$1.2B	$1.2B	$1.1B
Gross profit	$2.7B	$2.8B	$2.7B	$2.6B
Selling, general and administrative	$1.8B	$1.8B	$1.7B	$1.7B
Research and development	$369.9M	$364.2M	$346.8M	$305.3M
Restructuring and other charges	$35.4M	$33.2M	$13.3M	$11.5M
Legal settlement loss	$4.2M	$31.0M	—	—
Total operating expenses	$2.2B	$2.2B	$2.1B	$2.0B
Income from operations	$545.8M	$607.6M	$643.3M	$642.6M
Interest income	$16.0M	$20.2M	$17.3M	$5.4M
Other income (expense), net	$23.5M	($18.9M)	($19.4M)	($48.9M)
Total interest income and other income (expense), net	$39.5M	$1.3M	($2.1M)	($43.5M)
Net income before provision for income taxes	$585.3M	$609.0M	$641.2M	$599.1M
Income Tax expense	$174.9M	$187.6M	$196.2M	$237.5M
Net income	$410.4M	$421.4M	$445.1M	$361.6M
Net income per share, basic (usd per share)	$5.66	$5.63	$5.82	$4.62
Diluted (usd per share)	$5.65	$5.62	$5.81	$4.61
Basic (shares)	72.5M	74.9M	76.4M	78.2M
Diluted (shares)	72.6M	75.0M	76.6M	78.4M

Align Technology Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net revenues	$1.1B	$1.0B	$995.7M	$1.0B
Cost of net revenues	$298.8M	$303.5M	$356.5M	$304.3M
Gross profit	$757.4M	$736.6M	$639.2M	$708.1M
Selling, general and administrative	$462.7M	$465.3M	$417.8M	$448.7M
Research and development	$102.0M	$98.7M	$93.3M	$96.4M
Legal settlements and contingencies	$38.7M	—	—	—
Total operating expenses	$603.4M	$594.6M	$542.9M	$545.1M
Income from operations	$154.0M	$142.0M	$96.3M	$163.0M
Interest income	$4.6M	$3.9M	$3.2M	$2.9M
Other income (expense), net	($10.0M)	$3.0M	($4.8M)	$7.6M
Total interest income and other income (expense), net	($5.3M)	$6.9M	($1.6M)	$10.5M
Net income before provision for income taxes	$148.7M	$148.9M	$94.7M	$173.5M
Provision for income taxes	$40.4M	$36.1M	$38.0M	$48.9M
Net income	$108.3M	$112.8M	$56.8M	$124.6M
Basic (in usd per share)	$1.51	$1.58	$0.78	$1.72
Diluted (in usd per share)	$1.51	$1.57	$0.78	$1.72
Basic (in shares)	71.5M	71.4M	72.4M	72.6M
Diluted (in shares)	71.5M	71.6M	72.4M	72.6M

Balance sheet

Align Technology Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$1.1B	$1.0B	$937.4M	$942.0M
Accounts receivable, net of allowance for doubtful accounts of $34,213 and $19,131, respectively	$1.1B	$995.7M	$903.4M	$859.7M
Inventories	$226.3M	$254.3M	$296.9M	$338.8M
Prepaid expenses and other current assets	$165.6M	$198.6M	$273.6M	$226.4M
Assets held for sale	$28.0M	—	—	—
Total current assets	$2.6B	$2.5B	$2.4B	$2.4B
Property, plant and equipment, net	$1.1B	$1.3B	$1.3B	$1.2B
Operating lease right-of-use assets, net	$108.3M	$113.4M	$118.0M	$118.9M
Goodwill	$491.8M	$442.6M	$419.5M	$407.6M
Intangible assets, net	$93.9M	$103.5M	$82.1M	$95.7M
Deferred tax assets	$1.5B	$1.6B	$1.6B	$1.6B
Other assets	$278.0M	$234.2M	$128.7M	$55.8M
Total assets	$6.2B	$6.2B	$6.1B	$5.9B
Accounts payable	$121.5M	$108.7M	$113.1M	$127.9M
Accrued liabilities	$536.7M	$598.2M	$525.8M	$454.4M
Deferred revenues	$1.3B	$1.3B	$1.4B	$1.3B
Total current liabilities	$1.9B	$2.0B	$2.1B	$1.9B
Income tax payable	$68.2M	$96.5M	$116.7M	$124.4M
Operating lease liabilities	$82.5M	$88.2M	$97.0M	$100.3M
Other long-term liabilities	$113.8M	$139.9M	$173.1M	$196.0M
Total liabilities	$2.2B	$2.4B	$2.5B	$2.3B
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	0	0	0	0
Common stock, $0.0001 par value (200,000 shares authorized; 71,364 and 73,849 issued and outstanding, respectively)	7.0K	7.0K	7.0K	8.0K
Additional paid-in capital	$1.5B	$1.4B	$1.2B	$1.0B
Accumulated other comprehensive income (loss), net	$75.4M	$6.0M	$21.2M	($10.3M)
Retained earnings	$2.5B	$2.5B	$2.4B	$2.6B
Total stockholders’ equity	$4.0B	$3.9B	$3.6B	$3.6B
Total liabilities and stockholders’ equity	$6.2B	$6.2B	$6.1B	$5.9B

Align Technology Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$1.1B	$1.1B	$1.0B	$901.2M
Accounts receivable, net of allowance for doubtful accounts of $27,021 and $34,213, respectively	$1.1B	$1.1B	$1.1B	$1.1B
Inventories	$212.2M	$214.9M	$228.2M	$243.8M
Prepaid expenses and other current assets	$199.8M	$215.7M	$174.1M	$186.9M
Assets held for sale	$0	$39.8M	$27.9M	—
Total current assets	$2.7B	$2.7B	$2.5B	$2.4B
Property, plant and equipment, net	$1.1B	$1.1B	$1.2B	$1.3B
Operating lease right-of-use assets, net	$115.4M	$110.2M	$115.0M	$116.7M
Goodwill	$497.3M	$503.0M	$491.5M	$491.1M
Intangible assets, net	$94.9M	$100.8M	$98.7M	$103.5M
Deferred tax assets	$1.5B	$1.5B	$1.6B	$1.5B
Other assets	$452.8M	$365.1M	$254.1M	$250.7M
Total assets	$6.4B	$6.3B	$6.2B	$6.2B
Accounts payable	$109.8M	$123.7M	$125.5M	$114.4M
Accrued liabilities	$611.6M	$546.9M	$546.3M	$563.1M
Deferred revenues	$1.2B	$1.2B	$1.3B	$1.3B
Total current liabilities	$1.9B	$1.9B	$2.0B	$2.0B
Income tax payable	$70.0M	$67.3M	$110.6M	$103.6M
Operating lease liabilities	$86.6M	$83.4M	$87.3M	$90.5M
Other long-term liabilities	$119.9M	$108.2M	$111.8M	$116.8M
Total liabilities	$2.2B	$2.2B	$2.3B	$2.3B
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	0	0	0	0
Common stock, $0.0001 par value (200,000 shares authorized; 71,245 and 71,364 issued and outstanding, respectively)	7.0K	7.0K	7.0K	7.0K
Additional paid-in capital	$1.6B	$1.5B	$1.5B	$1.4B
Accumulated other comprehensive income, net	$66.6M	$70.1M	$65.4M	$61.2M
Retained earnings	$2.6B	$2.5B	$2.4B	$2.4B
Total stockholders’ equity	$4.2B	$4.1B	$4.0B	$3.9B
Total liabilities and stockholders’ equity	$6.4B	$6.3B	$6.2B	$6.2B

Cash flow statement

Align Technology Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$410.4M	$421.4M	$445.1M	$361.6M
Deferred taxes	$33.1M	$25.8M	($18.6M)	($39.5M)
Depreciation and amortization	$237.4M	$145.0M	$142.4M	$125.8M
Stock-based compensation	$185.9M	$173.7M	$154.0M	$133.4M
Non-cash operating lease cost	$39.7M	$38.4M	$33.1M	$30.5M
Impairment loss on Assets held for sale	$23.1M	—	—	—
Impairment and fair value adjustments for equity investments	($18.1M)	($5.9M)	—	—
Other non-cash operating activities	$37.7M	$12.3M	$32.7M	$41.3M
Accounts receivable	($139.9M)	($153.5M)	($104.6M)	$21.5M
Inventories	$808.0K	$25.1M	$30.2M	($130.1M)
Prepaid expenses and other assets	$13.4M	$67.5M	($51.0M)	($65.5M)
Accounts payable	$5.3M	($843.0K)	($7.7M)	($36.5M)
Accrued and other long-term liabilities	($95.7M)	$89.7M	$46.3M	($121.9M)
Long-term income tax payable	($28.3M)	($20.3M)	($7.8M)	$6.3M
Deferred revenues	($111.8M)	($80.1M)	$86.7M	$241.9M
Net cash provided by operating activities	$593.2M	$738.2M	$785.8M	$568.7M
Acquisitions, net of cash acquired	$0	($77.1M)	$0	($12.3M)
Purchase of property, plant and equipment	($102.4M)	($115.6M)	($177.7M)	($291.9M)
Purchase of marketable securities	$0	$0	($2.9M)	($28.0M)
Proceeds from maturities of marketable securities	$0	$25.7M	$55.2M	$23.8M
Proceeds from sales of marketable securities	$0	$18.2M	$6.2M	$97.3M
Purchase of equity investments	($10.0M)	($106.3M)	($77.0M)	—
Other investing activities	$0	$235.0K	$278.0K	($2.2M)
Net cash used in investing activities	($112.4M)	($254.9M)	($195.9M)	($213.3M)
Proceeds from issuance of common stock	$21.7M	$25.3M	$26.6M	$26.1M
Common stock repurchases, net of excise tax	($465.9M)	($352.9M)	($592.4M)	($435.0M)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net	$0	$0	($10.0M)	—
Payroll taxes paid upon the vesting of equity awards	($20.4M)	($28.1M)	($22.6M)	($52.8M)
Net cash used in financing activities	($464.6M)	($355.7M)	($598.3M)	($501.7M)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	$35.0M	($21.2M)	$4.7M	($11.5M)
Net (decrease) increase in cash, cash equivalents, and restricted cash	$51.2M	$106.4M	($3.8M)	($157.8M)
Cash, cash equivalents, and restricted cash at beginning of year	$1.0B	$938.5M	$942.4M	$1.1B
Cash, cash equivalents, and restricted cash at end of year	$1.1B	$1.0B	$938.5M	—

Align Technology Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$221.1M	$112.8M	$274.6M	$217.8M
Deferred taxes	$31.4M	$40.6M	($9.4M)	($759.0K)
Depreciation and amortization	$96.7M	$56.5M	$135.4M	$79.7M
Stock-based compensation	$86.5M	$40.9M	$141.6M	$93.2M
Non-cash operating lease cost	$20.6M	$10.1M	$29.5M	$19.5M
Gain on assets held for sale	($11.7M)	($11.7M)	$23.1M	—
Fair value adjustment for equity investment	($7.5M)	($7.7M)	—	—
Other non-cash operating activities	$10.6M	$7.3M	$29.3M	$7.6M
Accounts receivable	($72.0M)	($41.0M)	($117.7M)	($121.4M)
Inventories	$6.1M	$9.3M	$3.1M	$9.0M
Prepaid expenses and other assets	($26.0M)	($44.5M)	($4.1M)	($22.7M)
Accounts payable	($10.3M)	$4.9M	$6.7M	($7.5M)
Accrued and other long-term liabilities	$60.6M	$5.4M	($67.7M)	($35.5M)
Long-term income tax payable	$2.2M	($913.0K)	$14.1M	$7.1M
Deferred revenues	($64.5M)	($31.1M)	($88.7M)	($64.7M)
Net cash provided by operating activities	$343.8M	$151.0M	$370.0M	$181.3M
Acquisitions, net of cash acquired	($19.0M)	($19.0M)	$0	$0
Purchase of property, plant and equipment	($66.5M)	($30.8M)	($66.5M)	($46.8M)
Investment in convertible notes	($69.8M)	($31.3M)	—	—
Purchase of equity investments	($100.5M)	($50.5M)	($10.0M)	($10.0M)
Proceeds from Sale of Property, Plant, and Equipment	$42.0M	—	—	—
Net cash used in investing activities	($213.7M)	($131.6M)	($76.5M)	($56.8M)
Proceeds from issuance of common stock	$11.7M	$11.7M	$21.7M	$13.9M
Common stock repurchases, net of excise tax	($98.1M)	($31.2M)	($368.7M)	($297.1M)
Payroll taxes paid upon the vesting of equity awards	($29.2M)	($28.7M)	($20.2M)	($19.8M)
Net cash used in financing activities	($115.6M)	($48.1M)	($367.2M)	($303.1M)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	($6.7M)	($6.4M)	$34.5M	$35.9M
Net increase (decrease) in cash, cash equivalents, and restricted cash	$7.8M	($35.1M)	($39.2M)	($142.6M)
Cash, cash equivalents and restricted cash at beginning of the period	$1.1B	$1.1B	$1.0B	$1.0B
Cash, cash equivalents and restricted cash at end of the period	$1.1B	$1.1B	$1.0B	$902.3M

Align Technology Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.