ALGN FY 2013 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2013 Earnings

Reported February 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$660M	—	$560M	—	17.9%
Op. Income	$94M	—	$86M	—	10.1%
Gross Margin	75.4%	—	74.3%	—	1.1pp
Net Margin	9.7%	—	10.5%	—	-0.7pp
EPS (Diluted)	$0.78	—	$0.71	—	9.9%
Free Cash Flow	$167M	—	$95M	—	74.5%

Revenue Flow

Item	Amount
REVENUE	$660M
Cost of Revenue	$162M
GROSS PROFIT	$498M
R&D Expenses	$44M
Selling & Marketing	$180M
General & Administrative	$113M
SG&A Expenses	$293M
Other Expenses	$67M
Operating Expenses	$404M
Cost & Expenses	$566M
OPERATING INCOME	$94M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$93M
Income Tax Expense	$29M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$17M
EBIT	$161M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$660M
Cost of Revenue	$162M
GROSS PROFIT	$498M
R&D Expenses	$44M
Selling & Marketing	$180M
General & Administrative	$113M
SG&A Expenses	$293M
Other Expenses	$67M
Operating Expenses	$404M
Cost & Expenses	$566M
OPERATING INCOME	$94M
Interest Income	$0
Interest Expense	$1M
Other Income/Expenses	-$1M
INCOME BEFORE TAX	$93M
Income Tax Expense	$29M
Net Income from Continuing Ops	$64M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$64M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$64M
D&A	$17M
EBIT	$161M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$64M
Depreciation & Amortization	$17M
Stock-Based Compensation	$26M
Deferred Income Tax	$21M
Other Non-Cash Items	$44M
Change in Working Capital	$13M
OPERATING CASH FLOW	$186M
Capital Expenditure	-$19M
Acquisitions (Net)	-$8M
Purchases of Investments	-$304M
Sales/Maturities of Investments	$123M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$211M
Net Debt Issuance	$0
Common Stock Repurchased	-$95M
Common Dividends Paid	$0
Other Financing Activities	$23M
NET CASH FROM FINANCING	-$38M
FREE CASH FLOW	$167M
Net Change in Cash	-$63M

Balance Sheet

Item	Amount
Cash & Equivalents	$243M
Short-Term Investments	$127M
Net Receivables	$113M
Inventory	$14M
Other Current Assets	$29M
TOTAL CURRENT ASSETS	$545M
PP&E (Net)	$76M
Goodwill	$62M
Intangible Assets	$24M
Long-Term Investments	$102M
Tax Assets	$16M
Other Non-Current Assets	$9M
TOTAL NON-CURRENT ASSETS	$287M
TOTAL ASSETS	$832M
Account Payables	$18M
Short-Term Debt	$0
Deferred Revenue	$77M
Other Current Liabilities	$30M
TOTAL CURRENT LIABILITIES	$175M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$23M
TOTAL NON-CURRENT LIABILITIES	$23M
TOTAL LIABILITIES	$198M
Common Stock	$8.0K
Additional Paid-In Capital	$730M
Retained Earnings	-$96M
Treasury Stock	$0
Accum. Other Comp. Income	$294.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$634M
Minority Interest	$0
TOTAL EQUITY	$634M
TOTAL LIABILITIES & EQUITY	$832M
Total Debt	$0
Net Debt	-$243M