Invisalign maker Align Technology cuts annual revenue forecast on weak demand
July 30 (Reuters) - Teeth aligner maker Align Technology on Wednesday cut its annual revenue growth forecast as macroeconomic uncertainties weighed on demand for its dental products, sending the company's shares about 30% lower in extended trading.
The company, which makes Invisalign teeth aligners and other dental products, now expects 2025 revenue growth to be flat to slightly up from 2024, compared with its earlier forecast range of 3.5% to 5.5%.
"Recent dental industry surveys for the second quarter suggest there was less overall patient traffic, fewer orthodontic case starts, and patient hesitation toward elective procedures," President and CEO Joe Hogan said in a statement.
"As we begin the third quarter and plan for the remainder of the year, our outlook anticipates the potential continued economic uncertainty and spending hesitancy that impacted demand for our clear aligners and new iTero scanner systems in the second quarter."
The company said it expects to realign certain business groups and reduce its global workforce, but did not give details on the job cuts. It also plans to optimize its manufacturing footprint by increasing automation and regionalize manufacturing to be closer to its customers, the company said.
It expects to incur one-time charges of about $150 million to $170 million in the second half of 2025.
Align Technology reported revenue of $1.01 billion, down 1.6% from last year and below analysts' estimates of $1.06 billion, according to data compiled by LSEG.
The Tempe, Arizona-based company, expects its third-quarter revenue to range between $965 million to $985 million, the mid-point of which was below analysts' estimates of $1.04 billion.
On an adjusted basis, the company earned $2.49 per share for the quarter ended March 31, compared with estimates of $2.57 per share. (Reporting by Bageshri Banerjee in Bengaluru; Editing by Leroy Leo)
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