Align Technology up 12% on quarterly results, 2023 revenue guidance
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Align Technology is up 12% in post-market trading Wednesday after reporting strong Q2 results and issuing 2023 revenue guidance range that includes the consensus.
For 2023, the maker of Invisalign clear teeth aligners projects revenue of $3.97B-$3.99B. Consensus is $3.94B.
The company also said it expects non-GAAP operating margin to be just above 21%, a 1-point improvement from guidance given in April.

In the quarter, net income rose 1% to $170.4M on a non-GAAP basis compared to the prior-year period ($2.22 EPS diluted vs. $2.15).
The company beat on both the top and bottom lines.
Shipments of its clear aligners increased ~1% in the quarter to 604,445 compared to Q2 2022.
Align (NASDAQ:ALGN) ended the quarter with in cash, cash equivalents, and marketable securities, of just over $1B compared to ~$999.6M on Dec. 31, 2022.

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