Align Technology Hosts 2020 Virtual Investor Day
November 23 2020 - 08:00AM
Align Technology, Inc. (NASDAQ: ALGN) announced that it is hosting
a Virtual Investor Day today focused on the Align digital platform
that is enabling doctors to deliver the benefits of digital
orthodontics to more than 9 million patients and counting. Align
Technology CEO Joe Hogan will share Align’s vision and strategy of
successful disruptive innovation that is accelerating a wave of
digital orthodontics, bringing doctor-delivered Invisalign clear
aligner treatment to more people around the world.
“Align’s global Invisalign brand is vastly underpenetrated into
the existing orthodontic market which we now estimate to be
approximately 15 million case starts each year, 3 million more than
our prior estimate, as a result of establishing and increasing our
direct presence in several new markets including Brazil, Russia,
Turkey, Middle East and Africa, India and Southeast Asia,” said Joe
Hogan, Align Technology president and CEO. “We believe digital
orthodontics is inevitable and an incremental 500 million potential
consumers can benefit from Invisalign treatment. Align is well
positioned to enable over 189 thousand Invisalign doctors to
capture this market using our products, services and digital
platform. We will continue investing in resources to drive
utilization and scale the Align digital platform to meet the needs
of consumers, patients, and doctors globally.”
Align’s 2020 Virtual Investor Day will highlight the company’s
strategic priorities and growth drivers, including the Align
digital platform, and how Invisalign treatment, iTero scanner and
services, and exocad CAD/CAM software are key to unlocking the
potential 500 million consumers. Align’s executive team will
address the company’s many strengths and advantages including its
global scale and operational expertise, sales and marketing
initiatives, and its demand creation and customer segmentation
strategies that are driving utilization and helping doctors convert
more consumers into Invisalign patients. The company will also
provide an update to its fourth quarter commentary.
“The strong momentum we experienced across the business in
October has continued into November,” said John Morici, Align
Technology CFO. “Similar to the third quarter, we are continuing to
see a higher mix of new Invisalign cases as compared to additional
aligner cases as doctors continue to ramp up their practices. We
remain committed to supporting our doctors and their practices
through this recovery and beyond. Our prior investments have helped
drive adoption and top line growth and we are encouraged by the
return on our investments. Therefore, we are adding significant
investments in sales, marketing, innovation and manufacturing
capacity to continue to drive momentum and penetrate the huge
market opportunity. At the same time, there continues to be
uncertainty around the pandemic and the global environment, and any
additional lockdowns, change in consumer behavior or practice
closures could impact our operations and financial results.”
To register for the 2020 Align Virtual Investor
Day starting at 8:00 a.m. Eastern time today, please
use the following link:
https://event.webcasts.com/starthere.jsp?ei=1398581&tp_key=8aa7c31f94
To register in advance to listen to the live Q&A
session starting at 1:00 p.m. Eastern time today with the
Align executive team, please use the following link to attend the
Zoom webinar:
https://aligntech-us00.zoom.us/webinar/register/WN_CsIXkvgQTBu3WjYRxPovXw
After registering, you will receive a confirmation email with
information about how to join the webinar.
Q&A session attendees will be able to submit written
questions via the Q&A window.
Forward Looking Statement
This press release includes forward looking statements that
involve a number of risks and uncertainties. Words such as
“believes,” “anticipates,” “plans,” “intends,” “expects,” “seeks,”
“estimates,” and similar expressions are intended to identify
forward-looking statements, but other statements that are not
historical facts may also be deemed to be forward-looking
statements. Important factors that could cause actual results to
differ materially from those indicated by forward-looking
statements include risks and uncertainties relating to: the markets
for Align’s products, its beliefs concerning the digital
transformation of dentistry and Align’s strategic priorities, its
business momentum, products and product mix, the COVID-19 pandemic
and its impacts on Align’s business and results of operations,
Align’s expectations for digital adoption in dentistry and the
potential impact of its products in the transition, and Align’s
expectations for investments in its business, including sales,
marketing, development and manufacturing. Forward-looking
statements relating to expectations about future events or results
are based upon information available to Align as of the date
hereof. Readers are cautioned that these forward-looking statements
are only predictions and are subject to risks, uncertainties and
assumptions that are difficult to predict. As a result, actual
results may differ materially and adversely from those expressed in
any forward-looking statement.
Factors that might cause such a difference include, but are not
limited to:
- the impact of the COVID-19 pandemic on the health and safety of
our employees, customers, patients, and our suppliers as well as
the physical and economic impacts of the various recommendations,
orders and protocols issued by local and national governmental
agencies in light of the evolving situation, including any
reimplementation of preventative measures;
- difficulties predicting customer and consumer purchasing
behavior and changes in consumer spending habits as a result of,
among other things, the COVID-prev19 pandemic, prevailing economic
conditions, levels of employment, salaries and wages and consumer
confidence;
- expectations regarding the continued growth or declines of our
domestic and/or international markets;
- increasing competition from existing and new competitors;
- rapidly evolving and groundbreaking advances that are
fundamentally changing the dental industry and the way new and
existing participants market and provide products and services to
consumers;
- the ability to protect our intellectual property rights;
- continued compliance with regulatory requirements;
- our expectations regarding sales of our intra-oral scanners
domestically and internationally and our belief that technology
features and functionality of the iTero scanners and exocad
technology will increase adoption of Invisalign and increase sales
of our intra-oral scanners;
- the willingness and ability of our customers to maintain and/or
increase product utilization in sufficient numbers;
- the possibility that the development and release of new
products or enhancements to existing products do not proceed in
accordance with the anticipated timeline or may themselves contain
bugs or errors requiring remediation and that the market for the
sale of these new or enhanced products may not develop as
expected;
- a tougher consumer demand environment in China generally,
especially for manufacturers and service providers whose
headquarters or primarily operations are not based in China;
- the risks relating to our ability to sustain or increase
profitability or revenue growth in future periods (or minimize
declines) while controlling expenses;
- the impact of excess or constrained capacity at our
manufacturing and treat operations facilities and pressure on our
internal systems and personnel;
- the compromise of customer and/or patient data for any
reason;
- the timing of case submissions from our doctors within a
quarter as well as an increased manufacturing costs per case;
- foreign operational, political and other risks relating to our
international manufacturing operations; and
- the loss of key personnel or work stoppages.
The foregoing and other risks are detailed from time to time in
our periodic reports filed with the Securities and Exchange
Commission, including, but not limited to, our Annual Report on
Form 10-K for the year ended December 31, 2019, which was filed
with the Securities and Exchange Commission (SEC) on February 28,
2020 and its latest Quarterly Report on Form 10-Q for the quarter
ended September 30, 2020, which was filed with the SEC on October
30, 2020. Align undertakes no obligation to revise or update
publicly any forward-looking statements for any reason.
About Align Technology, Inc.Align
Technology designs and manufactures the Invisalign® system,
the most advanced clear aligner system in the world, iTero®
intraoral scanners and services, and CAD/CAM software. Align has
helped treat over 9 million patients with the Invisalign system and
is driving the evolution in digital dentistry with the iTero
intraoral scanner and exocad® CAD/CAM software − modernizing
today’s practices by enabling enhanced digital orthodontic and
restorative workflows to improve patient outcomes and practice
efficiencies. Visit www.aligntech.com for more
information.
For additional information about the Invisalign system or to
find an Invisalign doctor in your area, please
visit www.invisalign.com. For additional information about the
iTero digital scanning system, please visit www.itero.com. For
additional information about exocad dental CAD/CAM offerings and a
list of exocad reseller partners, please
visit www.exocad.com.
Align Technology |
Zeno Group |
Madelyn
Homick |
Sarah
Johnson |
(408)
470-1180 |
(828)
551-4201 |
mhomick@aligntech.com |
sarah.johnson@zenogroup.com |
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