ALGN FY 2014 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2014 Earnings

Reported February 26, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$762M	—	$660M	—	15.4%
Op. Income	$194M	—	$94M	—	105.5%
Gross Margin	75.9%	—	75.4%	—	0.5pp
Net Margin	19.1%	—	9.7%	—	9.4pp
EPS (Diluted)	$1.77	—	$0.78	—	126.9%
Free Cash Flow	$203M	—	$167M	—	21.8%

Revenue Flow

Item	Amount
REVENUE	$762M
Cost of Revenue	$183M
GROSS PROFIT	$578M
R&D Expenses	$53M
Selling & Marketing	$217M
General & Administrative	$115M
SG&A Expenses	$332M
Other Expenses	$0
Operating Expenses	$385M
Cost & Expenses	$568M
OPERATING INCOME	$194M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$190M
Income Tax Expense	$45M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$18M
EBIT	$194M
EBITDA	$211M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$762M
Cost of Revenue	$183M
GROSS PROFIT	$578M
R&D Expenses	$53M
Selling & Marketing	$217M
General & Administrative	$115M
SG&A Expenses	$332M
Other Expenses	$0
Operating Expenses	$385M
Cost & Expenses	$568M
OPERATING INCOME	$194M
Interest Income	$0
Interest Expense	$3M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$190M
Income Tax Expense	$45M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$146M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$146M
D&A	$18M
EBIT	$194M
EBITDA	$211M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$146M
Depreciation & Amortization	$18M
Stock-Based Compensation	$40M
Deferred Income Tax	$25M
Other Non-Cash Items	-$11M
Change in Working Capital	$9M
OPERATING CASH FLOW	$227M
Capital Expenditure	-$24M
Acquisitions (Net)	$0
Purchases of Investments	-$437M
Sales/Maturities of Investments	$260M
Other Investing Activities	-$183.0K
NET CASH FROM INVESTING	-$202M
Net Debt Issuance	$0
Common Stock Repurchased	-$98M
Common Dividends Paid	$0
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$66M
FREE CASH FLOW	$203M
Net Change in Cash	-$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$200M
Short-Term Investments	$255M
Net Receivables	$130M
Inventory	$16M
Other Current Assets	$37M
TOTAL CURRENT ASSETS	$657M
PP&E (Net)	$90M
Goodwill	$61M
Intangible Assets	$21M
Long-Term Investments	$148M
Tax Assets	$3M
Other Non-Current Assets	$8M
TOTAL NON-CURRENT ASSETS	$331M
TOTAL ASSETS	$988M
Account Payables	$23M
Short-Term Debt	$0
Deferred Revenue	$91M
Other Current Liabilities	$36M
TOTAL CURRENT LIABILITIES	$202M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$33M
TOTAL NON-CURRENT LIABILITIES	$33M
TOTAL LIABILITIES	$235M
Common Stock	$8.0K
Additional Paid-In Capital	$783M
Retained Earnings	-$31M
Treasury Stock	$0
Accum. Other Comp. Income	-$140.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$753M
Minority Interest	$0
TOTAL EQUITY	$753M
TOTAL LIABILITIES & EQUITY	$988M
Total Debt	$0
Net Debt	-$200M