The Q4 revenue guidance of $1.00B-$1.02B implies a sequential decline from Q3, reflecting management's cautious view on discretionary healthcare spending. Watch for the Q4 2026 earnings call for any change in the 2027 preliminary outlook, which currently assumes no consumer recovery.
Price Chart
Executive Summary
Align Technology reported Q3 2026 revenue of $1.015B, up 1.9% YoY, and non-GAAP EPS of $2.80, slightly above the $2.76 consensus. Clear Aligner revenue grew 4.2% YoY with volume up 6.6%, but Imaging Systems revenue fell 7.6% YoY. The company guided Q4 revenue to $1.00B-$1.02B, implying a sequential decline, and maintained full-year 2026 non-GAAP operating margin guidance of 23.7%.
Key Financial Metrics
Key Facts
- Q3 2026 total revenue $1.0148B, up 1.9% YoY, in line with $1.00B consensus
- Non-GAAP diluted EPS $2.80 vs consensus $2.76, a beat of +1.4%
- Clear Aligner revenue $839.3M, up 4.2% YoY; volume 690.6K cases, up 6.6% YoY
- Imaging Systems and CADCAM Services revenue $175.5M, down 7.6% YoY
- GAAP gross margin 68.7%; non-GAAP gross margin 70.4% flat YoY
- GAAP operating margin 16.7% vs 9.7% a year ago; non-GAAP operating margin 24.4% vs 23.9%
- Q4 2026 revenue guidance $1.00B-$1.02B, implying ~0-2% sequential decline from Q3
- Full-year 2026 revenue guidance narrowed to $4.11B-$4.13B, up ~2-3% YoY
- Q3 2026 stock repurchases of 627.3K shares at avg $164.73; $630M remaining under $1B program
- Expects to repurchase up to $300M in Q4 2026 and ~$500M for full year 2026
Financial Impact
Q3 revenue $1.0148B, non-GAAP EPS $2.80; Q4 guidance $1.00B-$1.02B; FY2026 guidance $4.11B-$4.13B
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Clear Aligner | $839.3M | +4.2% |
| Imaging Systems and CADCAM Services | $175.5M | -7.6% |
Risk Factors
- Imaging Systems revenue declined 7.6% YoY, indicating continued weakness in capital equipment spending
- Clear Aligner ASP fell to $1,215 in Q3 from $1,260 in Q2, pressuring revenue growth despite volume gains
- Management cited a 'softer environment for discretionary healthcare spending' persisting through Q3
- UK VAT contingency accrual of $5.6M in Q3 and $37.5M in Q2 represents ongoing legal/regulatory exposure
- Foreign exchange headwinds unfavorably impacted revenue by ~0.5% YoY and EPS by $0.24
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001097149-26-000077 |
| Document: algn-20261028.htm | 0001097149-26-000077 |
| Document: 0001097149-26-000077-index-headers.html | 0001097149-26-000077 |
| Document: 0001097149-26-000077-index.html | 0001097149-26-000077 |
| Document: 0001097149-26-000077.txt | 0001097149-26-000077 |
| 8-K Data (Synthetic) | 0001097149-26-000077 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | 8-K | $153.74 | awaiting T+20 | awaiting T+20 | $153.62 (−0.08%) |
Oct 28, 2026 1d ago | 8-K | $153.74 | awaiting T+20 | awaiting T+20 | $153.62 (−0.08%) |
Oct 21, 2026 9d ago | PTAB Trial | $155.51 | awaiting T+20 | awaiting T+20 | $153.62 (−1.22%) |
Oct 16, 2026 13d ago | Institutional Cluster | $148.90 | awaiting T+20 | awaiting T+20 | $153.62 (−3.17%) |
Aug 31, 2026 8w ago | 8-K | $154.96 $145.35 | ▼ −6.20% | ▼ −6.52% | $153.62 (−0.86%) |
Aug 10, 2026 11w ago | Court Ruling | $172.96 $152.92 | ▲ +11.58% | ▲ +10.53% | $153.62 (+11.18%) |
Aug 3, 2026 12w ago | Institutional Cluster | $173.27 $154.96 | ▲ +10.57% | ▲ +9.33% | $153.62 (+11.34%) |
Jul 21, 2026 14w ago | Court Ruling | $172.46 $163.04 | ▼ −5.46% | ▼ −8.36% | $153.62 (−10.92%) |
Jul 7, 2026 16w ago | Court Ruling | $174.68 $174.83 | ▲ +0.09% | ▼ −3.19% | $153.62 (−12.06%) |
Jun 18, 2026 18w ago | 8-K | $173.76 $176.76 | ▲ +1.73% | ▲ +1.87% | $153.62 (−11.59%) |
US Market Status
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