Align Technology (ALGN) FY2025 results: revenue $4.0 billion, up 0.9% on the year

Align Technology is a global medical device company that designs, manufactures and markets Invisalign clear aligners for treating malocclusion, meaning misaligned teeth, along with Vivera retainers for retention, iTero intraoral scanners and services for dentistry, and exocad computer-aided design and manufacturing software for dental laboratories and practitioners. It ties those together as the Align Digital Platform, a suite of proprietary technologies and services running from patient to doctor to lab. Corporate headquarters are in Tempe, Arizona, with regional headquarters in Raleigh, Rotkreuz in Switzerland and Singapore. There are two segments: Clear Aligner, approximately 80 percent of worldwide net revenues in 2025, and Imaging Systems and CAD/CAM Services, the remaining 20 percent. The company had approximately 20,290 employees at the end of 2025, about 3.1 percent fewer than a year earlier. The filing states that over the past 28 years Align has helped doctors treat over 22 million patients with the Invisalign System.

Clear Aligner

The Invisalign System treats cases from very mild to severe, in packages scaled to the case: Express and Lite for limited movement, Go for general practitioners, Moderate, and the Comprehensive packages. ClinCheck treatment planning software is the centre of it: from digital scans or physical impressions plus the doctor's preferences it generates a custom three-dimensional plan that simulates the desired tooth movement in stages and details where and when to place attachments, the tooth-coloured shapes used to increase force on particular teeth. The filing states its algorithms draw on data from over 22 million patients treated worldwide. The aligners use the company's own SmartTrack material, SmartForce features and SmartStage technology. Vivera retainers and the Invisalign accessory range sit alongside them, the latter covering dental supplies, aligner cases, cleaning devices, teeth whitening products and cleaning solutions.

Imaging Systems and CAD/CAM Services

Intraoral scanning replaces physical impressions: a handheld scanner builds a 3D digital image of a patient's teeth, which the filing argues is faster, more precise and more comfortable, and cuts the rate of restoration remakes, so patients are recalled less often. The digital model file then feeds several uses: fabricating physical models for labs making veneers, inlays, onlays, crowns, bridges and implant abutments; records storage; aiding caries detection; orthodontic diagnosis; retainers and appliances; and submitting an Invisalign digital impression. The iTero Element portfolio covers the Element 2, Element Flex, Element 5D imaging system, Element Plus Series and iTero Lumina, each available in selected regions. The filing describes the Element 5D as the first integrated dental imaging system to record 3D and intraoral colour camera images alongside NIRI technology, which aids detection of interproximal caries above the gum line without radiation. The scanners are interoperable with the Invisalign system, so a full mouth scan can be submitted as part of a prescription order. In 2025 the company launched the Align Oral Health Suite, integrating iTero diagnostic aid and visualisation tools.

Who it sells to

Most products go directly through a specialised sales force to orthodontists and general practitioners, the latter including prosthodontists, periodontists and oral surgeons, and to dental laboratories, with sales agents and distributors used in certain countries. It also sells directly to dental support organisations, which contract with practices to provide business management and non-clinical operations, and to laboratories that use its products to make or customise their own for licensed dentists. Accessory products go through large e-commerce sites, the company's doctor portal and in-store at large retailers and pharmacies. Each region has its own direct sales, marketing and support organisation with quota-carrying representatives, organised separately for orthodontists and general practitioners. At the end of 2025 there were approximately 130,015 active Invisalign-trained doctors, active meaning one case or more submitted in the prior 12 months.

Where it is made

Clear aligners are fabricated regionally, at Juarez in Mexico, Ziyang in China and Wroclaw in Poland, which the company says puts it nearer its customers. The handheld scanner wand is produced and final assembly and repair carried out at Ziyang and at Petah Tikva in Israel, with final assembly also at Blonie in Poland and at Juarez. Digital treatment planning and interpretation for restorative cases runs from facilities in Costa Rica, China, Germany, Spain, Poland and Japan among others. Because the products are mass-customised, proprietary processes have been developed including AI and machine-learning based CAD/CAM software, vision systems, CT scanning, stereolithography and automated aligner fabrication equipment. The quality system must comply with the Quality System regulations enforced by the FDA and equivalents elsewhere, and is certified to ISO 13485.

From Align Technology's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 27 February 2026: read the full 10-K.