Align raises annual revenue growth forecast after quarterly results beat
April 30 (Reuters) - Align Technology (ALGN.O), opens new tab raised annual revenue growth forecast on Wednesday after beating quarterly results, driven by strong demand for its dental products.
Shares of the company rose more than 10% in aftermarket trading.
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The company now expects 2025 year-over-year revenue growth to be in the range of 3.5% to 5.5%, from previous low single-digit expectations.
Align makes teeth retainers, dental scanners and software for dental laboratories and practitioners. It produces some of its teeth aligners in Mexico and ships them to the United States. It also makes products in China for customers in that country.
Investors and analysts are closely monitoring how medical device makers will handle tariffs and whether they expect benefits from fluctuations in foreign currency.
Align said some of its aligners and scanners made in Mexico are exempt from the tariffs under President Trump's executive order because they comply with the United States-Mexico-Canada Agreement.
However, the tariff situation remains fluid, and the company expects an incremental tariff, if implemented, to be applied to transfer prices on goods shipped from Mexico.
Align added that it is able to mitigate most of its tariff exposure in China through adjustments in its supply chain and does not expect a significant impact on its costs.
The Tempe, Arizona-based company, expects its second-quarter revenue to range between $1.05 billion and $1.07 billion, the mid-point of which was in line with analysts' estimates of $1.06 billion, according to data compiled by LSEG.
The Invisalign clear teeth aligner maker reported first-quarter revenue of $979.3 million, beating estimates of $975.24 million.
On an adjusted basis, the company earned $2.13 per share for the quarter ended March 31, compared with estimates of $1.99 per share.
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