Align Technology Inc, San Jose, Calif, reported its financial results for the first quarter of 2019. According to the company, revenues were up 25.6% year-over-year to a record $549 million.
The company also reported that Invisalign volume was up 28.3% year-over-year to 349,200 cases in Q1, while scanner and services revenues were up 55.1% year-over-year to $79.8 million. Invisalign cases for teenage patients were up 41.1% year-over-year to 97,400.
For the Americas and International regions, Q1’2019 Invisalign volume was up 21.8% and 38.5% year-over-year. Joe Hogan, the company’s president and CEO, stated that Q1 sequential growth was driven primarily by North America and the EMEA region.
A press release from the company stated that the company’s Q1 2019 operating income of $87.7 million was down 10.7% year-over-year resulting in an operating margin of 16.0%. And as a result of the arbitrator’s decision regarding SmileDirectClub (SDC) announced on March 5, 2019, Q1 2019 operating income included impairments and other charges related to the U.S. Invisalign Store closures of $29.8 million which reduced operating margin by 5.4%. The company reports a Q1 2019 net profit of $71.8 million, or $0.89 per diluted EPS which reflected the Invisalign Store closure charges of $22.2 million, net of tax effects of $7.5 million, or $0.28 per diluted EPS.
The company also reported an expansion in its customer base which totals 57,000 active doctors worldwide in Q1.