ALGN FY 2018 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$2.0B	—	$1.5B	—	33.5%
Op. Income	$467M	—	$354M	—	31.9%
Gross Margin	73.6%	—	75.8%	—	-2.2pp
Net Margin	20.4%	—	15.7%	—	4.6pp
EPS (Diluted)	$4.92	—	$2.83	—	73.9%
Free Cash Flow	$331M	—	$243M	—	36.5%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$519M
GROSS PROFIT	$1.4B
R&D Expenses	$129M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$852M
Other Expenses	$0
Operating Expenses	$981M
Cost & Expenses	$1.5B
OPERATING INCOME	$467M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$458M
Income Tax Expense	$58M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$400M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$400M
D&A	$55M
EBIT	$467M
EBITDA	$521M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$519M
GROSS PROFIT	$1.4B
R&D Expenses	$129M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$852M
Other Expenses	$0
Operating Expenses	$981M
Cost & Expenses	$1.5B
OPERATING INCOME	$467M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$458M
Income Tax Expense	$58M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$400M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$400M
D&A	$55M
EBIT	$467M
EBITDA	$521M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$400M
Depreciation & Amortization	$55M
Stock-Based Compensation	$71M
Deferred Income Tax	-$16M
Other Non-Cash Items	$26M
Change in Working Capital	$19M
OPERATING CASH FLOW	$555M
Capital Expenditure	-$223M
Acquisitions (Net)	-$5M
Purchases of Investments	-$180M
Sales/Maturities of Investments	$385M
Other Investing Activities	$31M
NET CASH FROM INVESTING	$7M
Net Debt Issuance	$0
Common Stock Repurchased	-$300M
Common Dividends Paid	$0
Other Financing Activities	-$86M
NET CASH FROM FINANCING	-$369M
FREE CASH FLOW	$331M
Net Change in Cash	$187M

Balance Sheet

Item	Amount
Cash & Equivalents	$637M
Short-Term Investments	$98M
Net Receivables	$482M
Inventory	$56M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$521M
Goodwill	$64M
Intangible Assets	$18M
Long-Term Investments	$65M
Tax Assets	$65M
Other Non-Current Assets	$17M
TOTAL NON-CURRENT ASSETS	$750M
TOTAL ASSETS	$2.1B
Account Payables	$64M
Short-Term Debt	$0
Deferred Revenue	$393M
Other Current Liabilities	$102M
TOTAL CURRENT LIABILITIES	$692M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$107M
TOTAL NON-CURRENT LIABILITIES	$107M
TOTAL LIABILITIES	$800M
Common Stock	$8.0K
Additional Paid-In Capital	$878M
Retained Earnings	$378M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$0
Net Debt	-$637M