Tempe, Ariz.-based Align Technology reported total revenue of $4 billion for the 2024 fiscal year, according to a Feb. 5 news release.
Here are 10 things to know about the financial report:
1. The company brought in $995.2 million in total revenue during the fourth quarter of 2024.
2. Clear aligner revenue accounted for $3.2 billion of the company's full-year revenue, with systems and services revenue bringing in $768.9 million.
3. Align repurchased $352.9 million of common stock in 2024.
4. The company had more than 628,000 clear aligner unit shipments in the fourth quarter of 2024, a 1.9% increase over the third quarter of 2024 and a 6.1% increase over the fourth quarter of 2023.
5. Align had nearly 2.5 million clear aligner unit shipments throughout 2024, an increase of 3.5% from 2023.
6. GAAP net revenue grew 3.5% in 2024 compared to 2023, while non-GAAP revenue grew 6.1%.
7. Revenue of imaging systems and CAD/CAM services grew 16% year over year.
8. Align saw net income of $421.4 million in 2024, a 5.3% decrease from 2023.
9. During the fourth quarter, the company completed a $30 million equity investment in Dallas-based Smile Doctors, an orthodontics-focused dental organization with more than 450 practices.
10. Align Technology expects 2025 year-over-year revenue growth to be low single digits.