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Align Technology (ALGN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Align Technology (ALGN) Q3 2026 earnings results →

Q3 2026 Revenue up 2% year over year to $1.0B · 13¢ of every $1 of revenue kept as net profit · operating margin 16.7%

Align Technology made $1.0B in Q3 2026 (+2% Y/Y). Operating margin 16.7%, net earnings $135M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$1.0B
Year over year+2%
Operating margin16.7%
Net earnings$135M
Operating cash flow$183M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.0B in Q3 2026, up 2% year over year and down 4% from the previous quarter.

Gross margin was 68.7%, up 4.5 points from Q3 2025. Operating profit was $0.17B, a 16.7% margin (up 7.0 points year over year). Of the extra revenue versus Q3 2025, 382% reached operating profit, above the 10% margin then. Operating expenses fell 3% while revenue rose 2%. Net earnings were $0.14B, up 138% year over year. The effective tax rate was 20.6%.

Operating cash flow was $0.18B (down 3% year over year), 135% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.05B left free cash flow of $0.14B.

Quarterly history

Align Technology revenue by quarterAlign Technology revenue by quarter$979MQ1 2025$1.0BQ2 2025$996MQ3 2025$1.0BQ4 2025$1.0BQ1 2026$1.1BQ2 2026$1.0BQ3 2026
Align Technology net earnings by quarterAlign Technology net earnings by quarter$93.2MQ1 2025$125MQ2 2025$56.8MQ3 2025$136MQ4 2025$113MQ1 2026$108MQ2 2026$135MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$1.0B+2%16.7%$135M$183M
Q2 202610-QAug 5, 2026$1.1B+4%14.6%$108M$193M
Q1 202610-QMay 6, 2026$1.0B+6%13.6%$113M$151M
Q4 202510-KFeb 27, 2026$1.0B+5%14.8%$136M$223M
Q3 202510-QNov 5, 2025$996M+2%9.7%$56.8M$189M
Q2 202510-QAug 6, 2025$1.0B-2%16.1%$125M$129M
Q1 202510-QMay 8, 2025$979M-2%13.4%$93.2M$52.7M

Charts

Align Technology: revenue growth, year over year and quarter over quarterAlign Technology: revenue growth, year over year and quarter over quarterY/YQ/Q-2%Q1 2025-2%+3%Q2 2025+2%-2%Q3 2025+5%+5%Q4 2025+6%-1%Q1 2026+4%+2%Q2 2026+2%-4%Q3 2026
Latest (Q3 2026): Y/Y +2%, Q/Q -4%.
Align Technology: where the cash came from (+) and went (−), TTM to Q3 2026Align Technology: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$750MBuybacks−$298MCapital spending−$147MCash drawn (+) / kept (−)−$140MOther investing−$130MTaxes on employees’ shares−$29.4MShares issued$19.9MAcquisitions−$19.0MExchange rates−$4.8M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Align Technology: profit against cash, quarter by quarterAlign Technology: profit against cash, quarter by quarterNet incomeOperating cash flow$104M$286MQ4 2024$93.2M$52.7MQ1 2025$125M$129MQ2 2025$56.8M$189MQ3 2025$136M$223MQ4 2025$113M$151MQ1 2026$108M$193MQ2 2026$135M$183MQ3 2026
Latest (Q3 2026): Net income $135M, Operating cash flow $183M.
Align Technology: diluted shares by fiscal yearAlign Technology: diluted shares by fiscal year79MFY202080MFY202178MFY202277MFY202375MFY202473MFY2025
-8.4% since FY2020: buybacks shrank the count.
Align Technology in its industry: growth against margin (21 companies, SIC 3842)Align Technology in its industry: growth against margin (21 companies, SIC 3842)revenue growth, year over year →↑ operating marginmedian +12%median -4%ISRGZBHEWSTEENOVMSACDREINGNESTALAKESMTIAPTMYOLFWDLGMKMLSSAVRNTRBFEEDCOCHALGN (+2%, 17%)
Orthopedic, Prosthetic & Surgical Appliances & Supplies; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Align Technology

Align Technology, Inc. (“we,” “us,” “our,” “Align” or the “Company”) is a global medical device company primarily engaged in the design, manufacture and marketing of Invisalign ® clear aligners for the treatment of malocclusions, or the misalignment of teeth, by orthodontists and general dental practitioners (“GPs”), Vivera TM retainers for retention, iTero TM intraoral scanners and services for dentistry, and exocad TM computer-aided design and computer-aided manufacturing (“CAD/CAM”) software for dental laboratories and dental practitioners. Our vision and strategy is to revolutionize orthodontic and restorative dentistry through digital treatment planning and implementation using the Align TM Digital Platform, an integrated suite of proprietary technologies and services designed to deliver a seamless, end-to-end solution for patients, consumers, orthodontists, GPs and lab partners.

In its own words, from its 10-K, filed Feb 27, 2026.

Align Technology against its Orthopedic, Prosthetic & Surgical Appliances & Supplies peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +9%. Operating margin: 16.7% against the peers' median 16.4%.

CompanyQuarterRevenueY/YOp. margin
ALGN Align TechnologyQ3 2026$1.0B+2%16.7%
ISRG Intuitive SurgicalQ3 2026$3.0B+22%19.4%
ZBH Zimmer Biomet HoldingsQ3 2026$2.1B+3%14.9%
EW Edwards LifesciencesQ3 2026$1.7B+10%17.4%
STE SterisQ2 FY27$1.6B+9%18.5%
ENOV EnovisQ3 2026$559M+2%0.6%
MSA MSA SafetyQ3 2026$536M+14%16.4%
CDRE Cadre HoldingsQ3 2026$203M+30%14.0%
INGN InogenQ2 2026$95.1M+3%-5.4%

Source: Align Technology 10-Q on SEC EDGAR · CIK 1097149 · Orthopedic, Prosthetic & Surgical Appliances & Supplies

Guidance and outlook

Align Technology GAAP gross margin: guidance against what was reportedAlign Technology GAAP gross margin: guidance against what was reportedguided rangereported (above / within / below)Q3 202564.2%FY202567.2%Q4 202565.3%FY2026Q3 202668.7%Q4 2026
Met or beat 3 of 4 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Align Technology: what its forward-looking statements are about (10-Q filed 2026-11-04)Align Technology: what its forward-looking statements are about (10-Q filed 2026-11-04)Demand6Capital spending3Costs2Other2Supply chain1The economy1People1Buybacks & dividends1Financing1
18 statements; tone -0.17 (−1 all cautious, +1 all confident); 4 hedged.
Align Technology: outlook statements against the filing beforeAlign Technology: outlook statements against the filing beforeConfident3Cautious6

13F: who owns ALGN and who is buying

Largest holders of ALGN (13F)Largest holders of ALGN (13F)Vanguard Group$1.3BBlackRock$745MVanguard Capital Management LLC$742MFMR LLC$685MCapital International Investors$682MCapital World Investors$577MGoldman Sachs Group$569MVanguard Portfolio Management LLC$528MState Street$432MGeode Capital Management, LLC$378M
Funds' net buying of ALGN by quarter (13F)Funds' net buying of ALGN by quarter (13F)−$109M2024-09−$198M2024-12$159M2025-03$88.8M2025-06$616M2025-09−$686M2025-12$494M2026-03$474M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ALGN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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