ALGN FY 2017 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2017 Earnings

Reported February 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.1B	—	36.4%
Op. Income	$354M	—	$249M	—	42.1%
Gross Margin	75.8%	—	75.5%	—	0.3pp
Net Margin	15.7%	—	17.6%	—	-1.9pp
EPS (Diluted)	$2.83	—	$2.33	—	21.5%
Free Cash Flow	$243M	—	$177M	—	37.1%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$356M
GROSS PROFIT	$1.1B
R&D Expenses	$98M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$666M
Other Expenses	$0
Operating Expenses	$763M
Cost & Expenses	$1.1B
OPERATING INCOME	$354M
Interest Income	$7M
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$365M
Income Tax Expense	$130M
Net Income from Continuing Ops	$231M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$231M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$231M
D&A	$38M
EBIT	$354M
EBITDA	$391M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$356M
GROSS PROFIT	$1.1B
R&D Expenses	$98M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$666M
Other Expenses	$0
Operating Expenses	$763M
Cost & Expenses	$1.1B
OPERATING INCOME	$354M
Interest Income	$7M
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$365M
Income Tax Expense	$130M
Net Income from Continuing Ops	$231M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$231M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$231M
D&A	$38M
EBIT	$354M
EBITDA	$391M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$231M
Depreciation & Amortization	$38M
Stock-Based Compensation	$59M
Deferred Income Tax	$18M
Other Non-Cash Items	$17M
Change in Working Capital	$76M
OPERATING CASH FLOW	$439M
Capital Expenditure	-$196M
Acquisitions (Net)	-$22M
Purchases of Investments	-$390M
Sales/Maturities of Investments	$389M
Other Investing Activities	-$29M
NET CASH FROM INVESTING	-$248M
Net Debt Issuance	$0
Common Stock Repurchased	-$104M
Common Dividends Paid	$0
Other Financing Activities	-$46M
NET CASH FROM FINANCING	-$136M
FREE CASH FLOW	$243M
Net Change in Cash	$60M

Balance Sheet

Item	Amount
Cash & Equivalents	$450M
Short-Term Investments	$272M
Net Receivables	$324M
Inventory	$32M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$349M
Goodwill	$65M
Intangible Assets	$24M
Long-Term Investments	$95M
Tax Assets	$50M
Other Non-Current Assets	$38M
TOTAL NON-CURRENT ASSETS	$621M
TOTAL ASSETS	$1.8B
Account Payables	$37M
Short-Term Debt	$0
Deferred Revenue	$273M
Other Current Liabilities	$5M
TOTAL CURRENT LIABILITIES	$498M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$130M
TOTAL NON-CURRENT LIABILITIES	$130M
TOTAL LIABILITIES	$627M
Common Stock	$8.0K
Additional Paid-In Capital	$886M
Retained Earnings	$263M
Treasury Stock	$0
Accum. Other Comp. Income	$571.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$0
Net Debt	-$450M