Unveils Next-Generation iTero Lumina™ Intraoral Scanner Featuring a 3X Wider Field of Capture¹ in a 50% Smaller Wand² that Delivers Faster Scanning, Higher Accuracy³, and Superior Visualization⁴ for Greater Practice Efficiency

Q4 and FY2023 total revenues up 6.1% year over year and up 3.4% year over year, respectively

Major 2023 milestones: 17 million Invisalign® patients, 4 million Vivera™ retainers, and 100 thousand iTero™ scanner units

• 2023 total revenues of $3.9 billion, Clear Aligner revenues of $3.2 billion and Systems and Services revenues of $662.9 million
• 2023 revenues were unfavorably impacted by foreign exchange of approximately $36.3 million compared to 2022⁽⁵⁾
• 2023 operating margin of 16.7%, non-GAAP operating margin of 21.4%, and diluted net income per share of $5.81, non-GAAP diluted net income per share of $8.61
• 2023 operating margin was favorably impacted by foreign exchange of approximately 0.7 points compared to 2022⁽⁵⁾
• Repurchased $600 million of common stock in 2023
• Q4 total revenues of $956.7 million, and diluted net income per share of $1.64, non-GAAP diluted net income per share of $2.42
• Q4 revenues were unfavorably impacted by foreign exchange of approximately $12.8 million sequentially and favorably impacted by approximately $13.8 million year over year⁽⁵⁾

TEMPE, Ariz. — (BUSINESS WIRE) — January 31, 2024 — 2023 Clear Aligner revenues of $3.2 billion were unfavorably impacted by foreign exchange of approximately $29.7 million or 0.9% compared to 2022.⁽⁵⁾ 2023 Imaging Systems and CAD/CAM Services revenues of $662.9 million were unfavorably impacted by foreign exchange of approximately $6.6 million or 1.0% compared to 2022.⁽⁵⁾ During Q4’23, we incurred a total of $14.0 million of restructuring and other charges, primarily related to post-employment benefits.

Commenting on Align's Q4'23 and 2023 results, Align Technology President and CEO Joe Hogan said, “I am pleased to report fourth quarter results with better-than-expected revenues and earnings, primarily reflecting a sequential increase in clear aligner volume for adults and non-comprehensive cases, growth in Canada and the EMEA region, as well as increased revenues from systems and services. Fourth quarter revenues were up year-over-year primarily reflecting an increase in clear aligner volumes for teens and Invisalign DSP touch-up cases, as well as growth in the EMEA and APAC regions. For fiscal 2023, total revenues were up year over year, and we delivered fiscal 2023 non-GAAP operating margin above 21%, as expected. As of Q4, we achieved 17 million Invisalign® patients—including 4.7 million teens, as well as 4 million Vivera™ retainer cases, and over 100 thousand iTero™ scanners sold."

Hogan continued by announcing the launch of the company's latest iTero Lumina scanner, "Today, I’m excited to unveil a breakthrough technology — the iTero Lumina™ intraoral scanner - with 3X wider field of capture in a 50% smaller wand that delivers faster scanning, higher accuracy, and superior visualization for greater practice efficiency. iTero Lumina quickly, easily, and accurately captures more data while delivering exceptional scan quality and photorealistic visuals that remove the need for intraoral photos altogether. Doctors can now scan at twice the speed with a wide field of capture, multi angled scanning, and a large capture distance, meaning they can capture more dentition in greater detail throughout the scanning process. Align has filed over 30 patent applications covering technology related to the iTero Lumina intraoral scanner. I believe iTero Lumina has the potential to set a new standard of care for dental practices by simplifying the scanning of complex oral regions, while offering superior chair-side visualization and a more comfortable experience for patients, especially kids.”

^{(1) Compared to the field of view of the iTero Element™ 5D imaging system, when the iTero Lumina™ intraoral scanner’s scanning distance is 12 mm.*
(2) Compared to iTero Element™ 5D imaging system wand, excluding the wand cable.*
(3) The iTero Lumina™ intraoral scanner has scientifically proven greater accuracy* for your clinical orthodontic needs.
(4) For Invisalign record-taking cases only. Based on a survey in September 2023 of n=22 users who participated in a global limited market release, working with iTero Lumina™ intraoral scanner for an average period of 6 months, representing both Invisalign trained general practitioners and orthodontists in NA, EU and APAC, who were presented with a 4 point level of agreement scale from strongly agree to strongly disagree with the following statements: “iTero Lumina™ intraoral scanner 3D model is comparable to that of an intraoral photo.” and “iTero Lumina™ intraoral scanner photorealistic scans enable orthodontic clinical assessment the same way intraoral photos do.” and “iTero Lumina™ intraoral scanner 3D model’s superior 3D model eliminates the need to take intraoral photos.” and “iTero Lumina™ intraoral scanner 3D model’s superior 3D model boosts patient engagement.”*
*Data on file at Align Technology, as of November 15, 2023.
(5) For more information, please see the tables captioned "Unaudited GAAP to Non-GAAP Reconciliation."}

Financial Summary - Fourth Quarter Fiscal 2023