Align Technology (NASDAQ:ALGN), known for its innovative dental products like Invisalign, reported a strong set of financial results for the fourth quarter.
Shares rose about 15% in after-hours trade.
The company recorded an earnings per share (EPS) of $2.42, which was notably higher than the analysts' estimate of $2.19. Align's revenue for the came in at $956.7 million, again higher than the consensus estimate of $931.35 million.
Looking ahead to the first quarter of 2024, the company expects its worldwide revenues to be in the range of $960 million to $980 million. This was better than the analysts' consensus for Q1 sales of $946.8 million.
For the full year 2024, Align anticipates its total revenues to increase by mid-single digits compared to 2023.
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.”