Align Technology’s first quarter results were met positively by the market, reflecting a complex balance of strengths and ongoing challenges. Management pointed to a rebound in Clear Aligner volumes—particularly among both teens and adults across all regions—as a key driver, with CEO Joe Hogan noting, “Q1 was the highest year-over-year growth rate for both adult and teen patients since 2021.” The company also benefited from strong momentum in Asia Pacific and EMEA, as well as continued adoption of the iTero Lumina scanner platform. However, headwinds such as unfavorable foreign exchange rates and a shift toward lower-priced products weighed on revenues and margins, factors that management acknowledged in their remarks.

Is now the time to buy ALGN? Find out in our full research report (it’s free).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions Align Technology’s Q1 Earnings Call

• Brandon Vazquez (William Blair) asked about the apparent decoupling between consumer sentiment and Align’s performance. CEO Joe Hogan emphasized broad-based volume growth across products and geographies as the main reason for outperformance.

• Vik Chopra (Wells Fargo) questioned management’s plans to mitigate tariffs. Hogan replied that Align’s global manufacturing footprint and flexibility provide protection, and that margin guidance reflects current tariff assumptions.

• Jon Block (Stifel) sought clarity on average selling price (ASP) trends and future expectations. CFO John Morici confirmed that ASP declines are primarily due to product mix and currency, but certain new products could provide upward pressure.

• Jason Bednar (Piper Sandler) inquired about the impact of new financing partnerships and the rise of Dental Service Organizations (DSOs). Morici explained that flexible payment terms and expanded financing options are supporting both provider and patient adoption.

• Elizabeth Anderson (Evercore ISI) asked whether recent tariffs have affected demand. Morici responded that global demand has remained stable, and guidance reflects anticipated sequential improvement in volumes.

Catalysts in Upcoming Quarters

In the coming quarters, key areas to watch will be (1) the pace of adoption for new products like the Invisalign Palate Expander and iTero Lumina restorative scanner, (2) the ability to manage operating margins amid ongoing product mix shifts and tariff risks, and (3) continued geographic expansion, particularly in Asia Pacific and EMEA. Execution on innovation-driven growth and operational efficiency will be critical for sustaining momentum.

Align Technology currently trades at $193.83, up from $173.14 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it’s free).

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