Align Technology (ALGN) Q3 2025 10-Q Quarterly Report

Filed: Nov 5, 2025Period ending Sep 30, 2025

Health Care

Orthopedic, Prosthetic & Surgical Appliances & SuppliesSEC EDGAR

Align Technology (ALGN) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Align Technology Q3 2025 10-Q Analysis

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

Align Technology Q3 2025 Quarterly Financials
XBRL

Revenue

$996M

▲ +1.8% YoY▼ -1.7% QoQ

Net Income

$57M

▼ -51.1% YoY▼ -54.5% QoQ

Net Margin

5.7%

▼ -616bp YoY▼ -661bp QoQ

Source: XBRL data from Align Technology Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

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