ALGN FY 2019 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$2.4B	—	$2.0B	—	22.4%
Op. Income	$542M	—	$467M	—	16.3%
Gross Margin	72.5%	—	73.6%	—	-1.2pp
Net Margin	18.4%	—	20.4%	—	-2.0pp
EPS (Diluted)	$5.53	—	$4.92	—	12.4%
Free Cash Flow	$598M	—	$331M	—	80.3%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$663M
GROSS PROFIT	$1.7B
R&D Expenses	$157M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	-$28M
Operating Expenses	$1.2B
Cost & Expenses	$1.9B
OPERATING INCOME	$542M
Interest Income	$12M
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$555M
Income Tax Expense	$112M
Net Income from Continuing Ops	$443M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$443M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$443M
D&A	$79M
EBIT	$514M
EBITDA	$593M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$663M
GROSS PROFIT	$1.7B
R&D Expenses	$157M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.1B
Other Expenses	-$28M
Operating Expenses	$1.2B
Cost & Expenses	$1.9B
OPERATING INCOME	$542M
Interest Income	$12M
Interest Expense	$0
Other Income/Expenses	$13M
INCOME BEFORE TAX	$555M
Income Tax Expense	$112M
Net Income from Continuing Ops	$443M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$443M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$443M
D&A	$79M
EBIT	$514M
EBITDA	$593M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$443M
Depreciation & Amortization	$79M
Stock-Based Compensation	$88M
Deferred Income Tax	$307.0K
Other Non-Cash Items	$62M
Change in Working Capital	$75M
OPERATING CASH FLOW	$747M
Capital Expenditure	-$150M
Acquisitions (Net)	$0
Purchases of Investments	-$693M
Sales/Maturities of Investments	$485M
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$350M
Net Debt Issuance	-$46M
Common Stock Repurchased	-$400M
Common Dividends Paid	$0
Other Financing Activities	-$58M
NET CASH FROM FINANCING	-$486M
FREE CASH FLOW	$598M
Net Change in Cash	-$86M

Balance Sheet

Item	Amount
Cash & Equivalents	$550M
Short-Term Investments	$318M
Net Receivables	$617M
Inventory	$112M
Other Current Assets	$24M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$688M
Goodwill	$64M
Intangible Assets	$12M
Long-Term Investments	$6M
Tax Assets	$64M
Other Non-Current Assets	$34M
TOTAL NON-CURRENT ASSETS	$867M
TOTAL ASSETS	$2.5B
Account Payables	$87M
Short-Term Debt	$0
Deferred Revenue	$564M
Other Current Liabilities	$128M
TOTAL CURRENT LIABILITIES	$971M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$140M
TOTAL NON-CURRENT LIABILITIES	$184M
TOTAL LIABILITIES	$1.2B
Common Stock	$8.0K
Additional Paid-In Capital	$907M
Retained Earnings	$440M
Treasury Stock	$0
Accum. Other Comp. Income	-$688.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$2.5B
Total Debt	$59M
Net Debt	-$491M