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Home » Align Technology posts Street-beating Q4 on record-breaking revenues

Align Technology posts Street-beating Q4 on record-breaking revenues

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Align TechnologyAlign Technology (NSDQ:ALGN) shares dipped slightly today despite fourth-quarter results that topped the consensus forecast.

The Tempe, Arizona-based dental technology company posted profits of $191 million, or $2.40 per share, on sales of $1.031 billion for the three months ended Dec. 31, 2021, for a 20.1% bottom-line gain on sales growth of 23.6%. Align’s revenue total represents a record for the company.

Adjusted to exclude one-time items, earnings per share were $2.83, 10¢ ahead of Wall Street, where analysts were looking for sales of $1.03 billion.

“Overall, I’m very pleased to report fourth-quarter results and another record year for Align,” Align Technology President and CEO Joe Hogan said in a news release.

Align said that, despite potential COVID-19 headwinds, it expects 2022 revenue growth between 20% and 30%.

ALGN shares were down 1.5% at $498. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.5%.

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