ALGN FY 2022 Earnings Report — Align Technology, Inc. Revenue & Financial Results | Market Cap Arena

Align Technology, Inc.ALGN

FY 2022 Earnings

Reported February 27, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$3.7B	—	$4.0B	—	-5.5%
Op. Income	$643M	—	$976M	—	-34.2%
Gross Margin	70.5%	—	74.3%	—	-3.7pp
Net Margin	9.7%	—	19.5%	—	-9.9pp
EPS (Diluted)	$4.61	—	$9.69	—	-52.4%
Free Cash Flow	$277M	—	$771M	—	-64.1%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.6B
R&D Expenses	$305M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$11M
Operating Expenses	$2.0B
Cost & Expenses	$3.1B
OPERATING INCOME	$643M
Interest Income	$5M
Interest Expense	$0
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$599M
Income Tax Expense	$237M
Net Income from Continuing Ops	$362M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$362M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$362M
D&A	$126M
EBIT	$654M
EBITDA	$780M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.6B
R&D Expenses	$305M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$11M
Operating Expenses	$2.0B
Cost & Expenses	$3.1B
OPERATING INCOME	$643M
Interest Income	$5M
Interest Expense	$0
Other Income/Expenses	-$44M
INCOME BEFORE TAX	$599M
Income Tax Expense	$237M
Net Income from Continuing Ops	$362M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$362M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$362M
D&A	$126M
EBIT	$654M
EBITDA	$780M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$362M
Depreciation & Amortization	$126M
Stock-Based Compensation	$133M
Deferred Income Tax	-$39M
Other Non-Cash Items	$72M
Change in Working Capital	-$84M
OPERATING CASH FLOW	$569M
Capital Expenditure	-$292M
Acquisitions (Net)	-$12M
Purchases of Investments	-$28M
Sales/Maturities of Investments	$121M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$213M
Net Debt Issuance	$0
Common Stock Repurchased	-$435M
Common Dividends Paid	$0
Other Financing Activities	-$93M
NET CASH FROM FINANCING	-$502M
FREE CASH FLOW	$277M
Net Change in Cash	-$158M

Balance Sheet

Item	Amount
Cash & Equivalents	$942M
Short-Term Investments	$58M
Net Receivables	$1.0B
Inventory	$339M
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$1.4B
Goodwill	$408M
Intangible Assets	$96M
Long-Term Investments	$42M
Tax Assets	$1.6B
Other Non-Current Assets	$56M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$5.9B
Account Payables	$128M
Short-Term Debt	$0
Deferred Revenue	$1.3B
Other Current Liabilities	$204M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$320M
TOTAL NON-CURRENT LIABILITIES	$421M
TOTAL LIABILITIES	$2.3B
Common Stock	$8.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$2.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.6B
Minority Interest	$0
TOTAL EQUITY	$3.6B
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$127M
Net Debt	-$815M