Align Technology (NSDQ:ALGN) shares shot up at this time on second-quarter outcomes that got here in forward of the consensus forecast.
ALGN shares have been up 9.4% at $680.27 per share in late-afternoon buying and selling at this time. MassDevice’s MedTech 100 Index — which incorporates shares of the world’s largest medical gadget firms — was up 0.9%.
The Tempe, Ariz.-based firm posted earnings of $199.7 million, or $2.51 per share, on gross sales of $1 billion for the three months ended June 30, 2021, for a bottom-line achieve from losses of $40.6 million this time final yr because it practically tripled final yr’s second-quarter gross sales.
Adjusted to exclude one-time objects, earnings per share have been $3.04, 49¢ forward of Wall Road, the place analysts have been in search of gross sales of $937.9 million.
“I’m happy to report our first $1 billion income quarter with report volumes reflecting continued momentum from each Clear Aligners and Methods and Companies,” Align Expertise president & CEO Joe Hogan said in a information launch. “More and more, medical doctors are seeing the strategic influence and worth of iTero scanners of their practices, far past its function in Invisalign case submissions – it’s a true workhorse and digital enabler in each kind of apply and throughout each kind of orthodontic and restorative workflow.
“Q2 sequential Clear Aligner volumes have been primarily pushed by energy in each grownup and teenage market segments and throughout buyer channels and areas, particularly from the Americas and EMEA areas, reflecting the increasing alternative for Invisalign therapy amongst adults globally, in addition to the underlying orthodontic market as we proceed to construct consciousness of the Invisalign model and drive utilization amongst teenagers and youthful sufferers.”
Align Applied sciences tasks its full-year revenues to complete between $3.85 billion and $3.95 billion.