Short answer
Align Technology (ALGN) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $996M (up 1.8% year over year) with net income of $57M.
Q3 2025 key financials · XBRL
- Revenue
- $996M
- +1.8% YoY · −1.7% QoQ
- Net income
- $57M
- −51.1% YoY · −54.5% QoQ
- Operating margin
- 9.7%
- Gross margin
- 64.2%
- EPS (diluted)
- $0.79
- −49.0% YoY · −53.8% QoQ
Source: XBRL data from the Align Technology (ALGN) Q3 2025 10-Q on SEC EDGAR. USD.
Align Technology Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $996M, up 1.8% YoY; Clear Aligner $806M, up 2.4%, Systems and Services $190M, down 0.6% YoY
- Operating margin 9.7% vs 16.6% YoY; Clear Aligner margin 31.1% vs 35.1%, Systems and Services margin 31.5% vs 36.0% YoY
- Best performer: Clear Aligner segment revenue +$19M; worst: Systems and Services revenue -$1M for the quarter
- Cash $1,005M, operating cash flow $189M, capital expenditures $20M; $40-$50M restructuring expense initiated Q3 2025
- Management cites macroeconomic challenges, tariff uncertainty, geopolitical tensions and shifting product mix as near-term headwinds; initiated workforce reductions and restructuring
Risk Factors
- New geopolitical risk: Ongoing Israel-Hamas conflict near iTero operations since October 7, 2023, with uncertain ceasefire sustainability impacting personnel and facilities
- Most material regulatory risk: Post-June 2024 U.S. Supreme Court Chevron reversal increases challenges to FDA authority, risking delays in regulatory approvals
- Operational risk: Supply chain vulnerable to sole-source suppliers for specialized machines and materials, risking production interruptions and increased costs
- Market risk: Intensified competition from new entrants, including direct-to-consumer clear aligners and AI-enhanced orthodontic technologies affecting Invisalign demand
- Financial risk: Inflation-driven rising production and shipping costs may pressure gross margins; price increases risk reducing sales and customer dissatisfaction
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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