Align Technology (ALGN) Announces $225 Million Open Market Repurchase

Align Technology, Inc. (“Align”) (Nasdaq: ALGN) a leading global medical device company that designs, manufactures, and sells the Invisalign® System of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry, today announced that it is planning to repurchase $225 million of Align’s common stock through open market repurchases, which will complete Align’s $1.0 billion stock repurchase program that was approved by Align's Board of Directors in January 2023, in its entirety.

“Today’s announcement of our intention to repurchase $225 million of our common stock through open market repurchases reflects the strength of our balance sheet and cash flow generation, as well as management’s and the Board’s continued confidence in our ability to capitalize on our large market opportunity while allowing us to provide value back to our shareholders,” said John Morici, Align CFO and executive vice president, global finance. “We have made strategic investments in technology and scalability to enable a new phase of growth to transform the orthodontic industry and we remain confident in our ability to make the Invisalign® System the standard of care in orthodontics through our doctor-centered model.”

The open market repurchases of Align’s common stock will be executed pursuant to a Rule 10b5-1 trading plan. The timing and number of shares repurchased will be based on an evaluation of market conditions and other factors, including stock price, trading volume, general business and market conditions, and capital availability. The repurchases are expected to be completed by the beginning of May 2025 and will be funded with Align’s cash on hand. As of December 31, 2024, Align had approximately 73.8 million shares outstanding and $1,043.9 million in cash and cash equivalents.

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