The San Jose, Calif.-based company posted profits of $71.8 million, or 89¢ per share, on sales of approximately $549 million for the three months ended March 31, seeing its profits shrink 25.1% while sales grew 25.6% when compared with the same period during the previous year.
Earnings per share were just ahead of the 83¢ consensus on Wall Street, where analysts expected to see sales of $530.4 million, which it handily topped.
“Our first quarter was a very good start to the year with revenues, volumes, gross margin, and EPS above our guidance. Record Q1 revenues and Invisalign volumes were up 25.6% and 28.3% year-over-year, respectively, reflecting continued strong growth across all geographies and customer channels, as well as strong iTero scanner and services revenues, which were up 55.1% year-over-year. Q1 sequential growth was driven primarily by North America and the EMEA region, reflecting strength across the Invisalign product portfolio. We also saw a nice uptick in adoption of Invisalign treatment with record utilization overall, as well as expansion of our customer base which totaled 57,000 active doctors worldwide in Q1,” prez & CEO Joe Hogan said in a press release.
Align Tech provided updated guidance for its coming second quarter, expecting to see sales of between $590 million and $600 million, with diluted EPS of between $1.47 and $1.54.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.