SAN JOSE, CA -- (Marketwired) -- 10/17/13 -- Align Technology, Inc. (NASDAQ: ALGN)

• Net revenues of $164.5 million were up 20.5% year-over-year
• Invisalign clear aligner net revenues of $153.5 million were up 21.2% year-over-year
• Invisalign clear aligner shipments of 106.9 thousand were up 15.5% year-over-year
• GAAP earnings per diluted share (EPS) of $0.42

Align Technology, Inc. (NASDAQ: ALGN) today reported financial results for the third quarter ended September 30, 2013.

Total net revenues for the third quarter of 2013 (Q3'13) were $164.5 million. This is compared to net revenues of $163.8 million reported in the second quarter of 2013 (Q2'13) and $136.5 million in the third quarter of 2012 (Q3'12). Q3'13 clear aligner net revenues were $153.5 million, compared to $153.3 million in Q2'13 and $126.7 million in Q3'12. Clear aligner case shipments in the third quarter of 2013 were 106.9 thousand, compared to 106.1 thousand in Q2'13 and 92.5 thousand in Q3'12. Q3'13 scanner and CAD/CAM services net revenues were $11.0 million, compared to $10.5 million in Q2'13 and compared to $9.8 million in Q3'12.

"I'm pleased to report another very good quarter for Align with net revenues, gross margin, and EPS higher than our outlook. Further we achieved record levels of net revenues, Invisalign case volume, and North American iTero scanner volume, enabling us to reach the low end of our long term model for operating margin, while generating strong operating cash flow," said Thomas M. Prescott, Align president and CEO. "The third quarter includes a seasonally slower period in Europe and in North America for our GP dentists, along with the peak of the summer season for teenage orthodontic case starts. We're pleased that patient traffic appears to have remained solid for our North American Orthodontist customers this summer, which resulted in strong sequential and year over year growth for Invisalign volume, especially in the important teenage segment."

Net profit for the third quarter of 2013 was $34.5 million, or $0.42 per diluted share, which includes $1.3 million, or $0.02 per diluted share, for a one-time tax benefit related to our fiscal 2012 U.S. federal income taxes. This is compared to net profit of $29.3 million, or $0.36 per diluted share, in Q2'13 and net loss of $0.3 million, or $0.00 per diluted share in Q3'12. In the third quarter last year, net loss included a pre-tax goodwill impairment charge of $24.7 million, as well as other pre-tax acquisition and integration related costs of $0.4 million.

As of September 30, 2013, the Company had $400.4 million in cash, cash equivalents, and short and long-term marketable securities compared to $356.1 million as of December 31, 2012.

To supplement our consolidated financial statements, we provide the following GAAP and non-GAAP financial measures. Detailed reconciliations between GAAP and non-GAAP information are contained in the tables following the financial tables of this release. Starting in fiscal 2013, amortization of acquired intangible assets is no longer excluded as a non-GAAP measure. This expense is included in GAAP gross profit, operating expenses, operating profit and net profit (loss) for the periods presented below and therefore is no longer a reconciling item.

Q3'13 Operating Results ($M except for per share amounts and percentages)
Key GAAP Operating Results		Q3'13		Q2'13		Q3'12
Net Revenues		$164.5		$163.8		$136.5
- Clear Aligner		$153.5		$153.3		$126.7
- Scanner and CAD/CAM Services		$11.0		$10.5		$9.8
Gross Margin		76.0%		75.5%		73.5%
- Clear Aligner		79.9%		78.4%		77.6%
- Scanner and CAD/CAM Services		22.2%		33.9%		20.6%
Operating Expenses		$83.6		$85.8		$95.8
Operating Margin		25.2%		23.1%		3.3%
Net Profit (Loss)		$34.5		$29.3		($0.3)
Earnings (Loss) Per Diluted Share (EPS)		$0.42		$0.36		($0.00)
Key Non-GAAP Operating Results		Q3'13		Q2'13		Q3'12
Non-GAAP Gross Margin		76.0%		75.5%		73.6%
- Non-GAAP Clear Aligner		79.9%		78.4%		77.6%
- Non-GAAP Scanner & CAD/CAM Services		22.2%		33.9%		21.6%
Non-GAAP Operating Expenses		$83.6		$85.8		$70.9
Non-GAAP Operating Margin		25.2%		23.1%		21.6%
Non-GAAP Net Profit		$34.5		$29.3		$22.2
Non-GAAP Earnings Per Diluted Share (EPS)		$0.42		$0.36		$0.26
EBITDA		$45.8		$41.4		$8.5
Adjusted EBITDA		$45.8		$41.4		$33.6
Stock-based Compensation (SBC)		Q3'13		Q2'13		Q3'12
Total SBC Expense		$7.6		$7.3		$5.4
- SBC included in Gross Margin		$0.7		$0.6		$0.5
- SBC included in Operating Expenses		$6.9		$6.7		$4.9

Q4 Fiscal 2013 Business Outlook
For the fourth quarter of 2013 (Q4'13), Align Technology provides the following guidance:

• Clear aligner case shipments in a range of 109.7 to 112.1 thousand cases, which reflects a year-over-year increase of 21.2% to 23.9%
• Net revenues in a range of $169.1 million to $173.1 million
• Earnings per diluted share in a range of $0.41 to $0.43

Align Web Cast and Conference Call
Align Technology will host a conference call today, October 17, 2013 at 4:30 p.m. ET, 1:30 p.m. PT, to review its third quarter 2013 results, discuss future operating trends and the business outlook. The conference call will also be web cast live via the Internet. To access the web cast, go to the "Events & Presentations" section under Company Information on Align Technology's Investor Relations web site at http://investor.aligntech.com. To access the conference call, please dial 201-689-8261 approximately fifteen minutes prior to the start of the call. An archived audio web cast will be available beginning approximately one hour after the call's conclusion and will remain available for approximately 12 months. Additionally, a telephonic replay of the call can be accessed by dialing 877-660-6853 with conference number 421424 followed by #. For international callers, please dial 201-612-7415 and use the same conference number referenced above. The telephonic replay will be available through 5:30 p.m. ET on October 25, 2013.

About Align Technology, Inc.
Align Technology designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign significantly reduces the aesthetic and other limitations associated with braces. Invisalign is appropriate for treating adults and teens. Align Technology was founded in March 1997 and received FDA clearance to market Invisalign in 1998.The Invisalign product family includes Invisalign, Invisalign Teen, Invisalign Assist, Invisalign Express 10, Invisalign Express 5, Invisalign Lite, and Vivera Retainers. To learn more about Invisalign or to find an Invisalign trained doctor in your area, please visit www.invisalign.com.

Cadent Holdings, Inc. is a subsidiary of Align Technology and is a leading provider of 3D digital scanning solutions for orthodontics and dentistry. The Cadent family of products includes the iTero scanning systems, OrthoCAD iCast and OrthoCAD iRecord. For additional information, please visit www.cadentinc.com.

About Non-GAAP Financial Measures
To supplement our consolidated financial statements and our business outlook, we may use from time to time the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating profit, non-GAAP net profit and non-GAAP earnings per share, which exclude, as applicable, acquisition and integration related costs, severance and benefit costs, impairment of goodwill, impairment of long-lived assets and any related income tax-related adjustments, and EBITDA and adjusted EBITDA. The presentation of this financial information is not intended to be considered in isolation, or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We use these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our "core operating performance." Management believes that "core operating performance" represents Align's performance in the ordinary, on-going and customary course of its operations. Accordingly, management excludes from "core operating performance" certain expenditures and other items that may not be indicative of our operating performance including discrete cash and non-cash charges that are infrequent, or one-time in nature. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management's internal evaluation of period-to-period comparisons. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making, and (2) they are provided to and used by our institutional investors and the analyst community to facilitate comparisons with prior and subsequent reporting periods. A reconciliation of the GAAP and non-GAAP financial measures for the quarter and year and a more detailed explanation of each non-GAAP financial measure and its uses are provided in the footnotes to the table captioned "Reconciliation of GAAP to non-GAAP Key Financial Metrics" and "Business Outlook Summary" included at the end of this release.

Forward-Looking Statement
This news release, including the tables below, contains forward-looking statements, including statements regarding certain business metrics for the fourth quarter of 2013, including anticipated net revenues, gross margin, operating expenses, operating profit, diluted earnings per share, case shipments and cash, cash equivalents and short-term and long-term investments. Forward-looking statements contained in this news release and the tables below 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, difficulties predicting customer and consumer purchasing behavior, the willingness and ability of our customers to maintain and/or increase utilization in sufficient numbers, the possibility that the development and release of new products does not proceed in accordance with the anticipated timeline, the possibility that the market for the sale of these new products may not develop as expected, the risks relating to Align's ability to sustain or increase profitability or revenue growth in future periods while controlling expenses, growth related risks, including capacity constraints and pressure on our internal systems and personnel, our ability to successfully achieve the anticipated benefits from the scanner and the CAD/CAM services business, continued customer demand for our existing and new products, changes in consumer spending habits as a result of, among other things, prevailing economic conditions, levels of employment, salaries and wages and consumer confidence, the timing of case submissions from our doctors within a quarter, acceptance of our products by consumers and dental professionals, foreign operational, political and other risks relating to Align's international manufacturing operations, Align's ability to protect its intellectual property rights, continued compliance with regulatory requirements, competition from existing and new competitors, Align's ability to develop and successfully introduce new products and product enhancements, the loss of key personnel and impairments in the book value of goodwill or other intangible assets. These and other risks are detailed from time to time in Align's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2012, which was filed with the Securities and Exchange Commission on March 1, 2013. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

ALIGN TECHNOLOGY, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
				Three Months Ended							Nine Months Ended
				September 30, 2013			September 30, 2012				September 30, 2013				September 30, 2012
Net revenues				$	164,506			136,496			$	481,914				417,201
Cost of net revenues					39,416			36,146				120,284				107,291
Gross profit					125,090			100,350				361,630				309,910
Operating expenses:
	Sales and marketing				45,224			36,468				135,352				114,272
	General and administrative				27,487			24,762				84,862				71,294
	Research and development				10,915			9,952				33,113				31,158
	Impairment of goodwill				-			24,665				40,693				24,665
	Impairment of long-lived assets				-			-				26,320				-
Total operating expenses					83,626			95,847				320,340				241,389
Operating profit					41,464			4,503				41,290				68,521
Interest and other income (expense), net					449			(353	)			(874	)			(624	)
Profit before income taxes					41,913			4,150				40,416				67,897
Provision for income taxes					7,376			4,494				18,542				18,765
Net profit (loss)				$	34,537		$	(344	)		$	21,874			$	49,132
Net profit (loss) per share
		- basic		$	0.43		$	(0.00	)		$	0.27			$	0.61
		- diluted		$	0.42		$	(0.00	)		$	0.26			$	0.59
Shares used in computing net profit (loss) per share
		- basic			79,967			81,437				80,592				80,356
		- diluted			81,848			81,437				82,549				83,016

ALIGN TECHNOLOGY, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
				September 30, 2013			December 31, 2012
ASSETS
Current assets:
	Cash and cash equivalents			$	175,839		$	306,386
	Marketable securities, short-term				147,740			28,485
	Accounts receivable, net				109,179			98,992
	Inventories				14,662			15,122
	Other current assets				34,839			36,808
		Total current assets			482,259			485,793
Marketable securities, long-term					76,836			21,252
Property and equipment, net					76,552			79,191
Goodwill and intangible assets, net					86,107			145,013
Deferred tax assets					28,822			21,609
Other long-term assets					8,630			3,454
		Total assets		$	759,206		$	756,312
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable			$	19,157		$	19,549
	Accrued liabilities				73,714			74,247
	Deferred revenue				70,397			61,975
		Total current liabilities			163,268			155,771
Other long term liabilities					20,254			19,224
		Total liabilities			183,522			174,995
Total stockholders' equity					575,684			581,317
	Total liabilities and stockholders' equity			$	759,206		$	756,312

ALIGN TECHNOLOGY, INC.
RECONCILIATION OF GAAP TO NON-GAAP KEY FINANCIAL METRICS
Reconciliation of GAAP to Non-GAAP Gross Profit
(in thousands)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Gross profit				$	125,090		$	123,691		$	100,350
	Acquisition and integration costs related to cost of revenues (1)				-			-			55
	Severance and benefit costs related to cost of revenues (2)				-			-			39
Non-GAAP Gross profit				$	125,090		$	123,691		$	100,444
Reconciliation of GAAP to Non-GAAP Gross Profit Scanner and CAD/CAM Services
(in thousands)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Scanner and CAD/CAM Services gross profit				$	2,427		$	3,567		$	2,016
	Acquisition and integration costs related to cost of revenues (1)				-			-			55
	Severance and benefit costs related to cost of revenues (2)				-			-			39
Non-GAAP Gross profit				$	2,427		$	3,567		$	2,110
Reconciliation of GAAP to Non-GAAP Operating Expenses
(in thousands)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Operating expenses				$	83,626		$	85,790		$	95,847
	Acquisition and integration costs related to operating expenses (1)				-			-			(179	)
	Severance and benefit costs related to operating expenses (2)				-			-			(105	)
	Impairment of goodwill (3)				-			-			(24,665	)
	Impairment of long-lived assets (4)				-			-			-
Non-GAAP Operating expenses				$	83,626		$	85,790		$	70,898
Reconciliation of GAAP to Non-GAAP Operating Profit
(in thousands)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Operating profit				$	41,464		$	37,901		$	4,503
	Acquisition and integration costs (1)				-			-			234
	Severance and benefit costs (2)				-			-			144
	Impairment of goodwill (3)				-			-			24,665
	Impairment of long-lived assets (4)				-			-			-
Non-GAAP Operating profit				$	41,464		$	37,901		$	29,546
Reconciliation of GAAP to Non-GAAP Net Profit
(in thousands, except per share amounts)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Net profit (loss)				$	34,537		$	29,320		$	(344	)
	Acquisition and integration costs (1)				-			-			234
	Severance and benefit costs (2)				-			-			144
	Impairment of goodwill (3)				-			-			24,665
	Impairment of long-lived assets (4)				-			-			-
	Income tax-related adjustments (5)				-			-			(2,512	)
Non-GAAP Net profit				$	34,537		$	29,320		$	22,187
Diluted Net profit (loss) per share:
		GAAP		$	0.42		$	0.36		$	(0.00	)
		Non-GAAP		$	0.42		$	0.36		$	0.26
Shares used in computing diluted GAAP Net profit (loss) per share					81,848			82,149			81,437
Shares used in computing diluted Non-GAAP Net profit per share					81,848			82,149			83,906
Reconciliation of GAAP Net Profit to EBITDA and Adjusted EBITDA
(in thousands)
				Three Months Ended
				September 30, 2013			June 30, 2013			September 30, 2012
GAAP Net profit (loss)				$	34,537		$	29,320		$	(344	)
Provision for income taxes					7,376			8,246			4,494
Depreciation and amortization					3,858			3,846			4,374
EBITDA (6)					45,771			41,412			8,524
Adjustments or charges:
	Acquisition and integration related costs (1)				-			-			234
	Severance and benefit costs (2)				-			-			144
	Impairment of goodwill (3)				-			-			24,665
	Impairment of long-lived assets (4)				-			-			-
EBITDA after adjustments (6)				$	45,771		$	41,412		$	33,567

Starting in fiscal 2013, amortization of acquired intangible assets is no longer excluded as a non-GAAP measure. This expense is included in GAAP gross profit, operating expenses, operating profit (loss) and net profit (loss) for the periods presented below and therefore is no longer a reconciling item.

(1) Acquisition costs and integration related. We have incurred acquisition-related and other expenses which include legal, banker, accounting and other advisory fees of third parties, retention bonuses, integration and professional fees. We do not engage in acquisitions in the ordinary course of business. We believe that it is important to understand these charges; however, we do not believe that these charges are indicative of future operating results. We believe that eliminating these expenses from our non-GAAP measures is useful because we generally would not have otherwise incurred such expenses in the periods presented as part of our continuing operations.

(2) Severance and benefits costs. These costs are related to the closure of our New Jersey operations and were realized through the first three quarters of 2012. We have engaged in various restructuring and exit activities in 2011 and 2009 that have resulted in costs associated with severance and benefits. Such activity has been a discrete event based on a unique set of business objectives or circumstances, and each has differed from the others in terms of its operational implementation, business impact and scope. We do not engage in restructuring and/or exit activities in the ordinary course of business. We believe that it is important to understand significant severance and benefits costs from restructuring and exit activities and believe that investors benefit from excluding these charges from our operating results to facilitate a more meaningful evaluation of current operating performance and comparisons to past operating performance.

(3) Impairment of goodwill. These costs represents non-cash write-downs of our goodwill generally related to negative trends in market and economic conditions, termination of relationships with distributors, or the increase in competitive environment related to our Scanner and CAD/CAM Services reporting unit. We remove the impact of these charges to our operating performance to assist in assessing our ability to generate cash from operations. We believe this may be useful information to users of our financial statements; therefore, we have excluded these charges for purposes of calculating these non-GAAP measures to facilitate an evaluation of our current operating performance, particularly in terms of liquidity.

(4) Impairment of long-lived assets. These costs represents non-cash write-downs of our long-lived assets generally related to the increase in competitive environment related to our Scanner and CAD/CAM Services reporting unit. As a result of these conditions, we have assessed that our asset group within the reporting unit was not recoverable and therefore recorded an impairment charge. We remove the impact of these charges to our operating performance to assist in assessing our ability to generate cash from operations. We believe this may be useful information to users of our financial statements; therefore, we have excluded these charges for purposes of calculating these non-GAAP measures to facilitate an evaluation of our current operating performance, particularly in terms of liquidity.

(5) Income tax-related adjustments. Non-GAAP financial information for the quarter is adjusted for a tax rate equal to our annual estimated tax rate on non-GAAP income. This rate is based on our estimated annual GAAP income tax rate forecast, adjusted to account for discrete tax items and items excluded from GAAP income in calculating the non-GAAP financial measures presented above. Our estimated tax rate on non-GAAP income is determined annually and may be re-calculated during the year to take into account events or trends that we believe materially impact the estimated annual rate.

(6) EBITDA and adjusted EBITDA. We use EBITDA as a performance measure for benchmarking against our peers and competitors. We believe EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to evaluate companies in the medical technology industry. We also use adjusted EBITDA which excludes certain special or non-recurring expenses, net of certain special or non-recurring benefits, detailed in the reconciliation tables that accompany this release, as an internal measure of business operating performance. We believe such financial measures provide a meaningful perspective of the underlying operating performance to our current business. EBITDA and adjusted EBITDA are not recognized terms under GAAP. Because all companies do not calculate EBITDA and similarly titled financial measures in the same way, those measures as used by other companies may not be consistent with the way we calculate such measures and should not be considered as alternative measures of operating or net profit.

ALIGN TECHNOLOGY
Q3 2013 EARNINGS RELEASE ADDITIONAL DATA
REVENUE PERFORMANCE AND CLEAR ALIGNER METRICS
(in thousands except per share data)
					Q1				Q2				Q3				Q4				FISCAL				Q1				Q2				Q3
					2012				2012				2012				2012				2012				2013				2013				2013
Invisalign Clear Aligner Net Revenues by Geography:
	North America				$	86,871			$	92,997			$	89,568			$	91,686			$	361,122			$	97,045			$	102,217			$	103,888
		North American Orthodontists				41,688				43,942				43,090				43,812				172,532				48,859				50,476				52,504
		North American GP Dentists				45,183				49,055				46,478				47,874				188,590				48,186				51,741				51,384
	International					29,700				32,883				29,700				32,513				124,796				31,818				40,320				38,983
	Non-case*					6,757				7,789				7,457				8,660				30,663				12,709				10,766				10,679
		Total Clear Aligner Net Revenues			$	123,328			$	133,669			$	126,725			$	132,859			$	516,581			$	141,572			$	153,303			$	153,550
	*includes Invisalign training, ancillary products, and retainers
Invisalign Clear Aligner Net Revenues by Product:
	Invisalign Full				$	82,424			$	88,617			$	80,294			$	87,265			$	338,600			$	85,914			$	95,762			$	93,945
	Invisalign Express/Lite					11,806				13,632				12,779				13,269				51,486				16,083				19,158				17,702
	Invisalign Teen					15,148				16,380				19,144				16,455				67,127				18,573				19,937				23,779
	Invisalign Assist					7,193				7,251				7,051				7,210				28,705				8,293				7,680				7,445
	Non-case*					6,757				7,789				7,457				8,660				30,663				12,709				10,766				10,679
		Total Clear Aligner Net Revenues			$	123,328			$	133,669			$	126,725			$	132,859			$	516,581			$	141,572			$	153,303			$	153,550
Average Invisalign Selling Price (ASP):
	Worldwide ASP (1)				$	1,370			$	1,320			$	1,290			$	1,375			$	1,340			$	1,315			$	1,345			$	1,335
	Worldwide ASP, adjusted (2)				$	1,370			$	1,320			$	1,290			$	1,320			$	1,325			$	1,340			$	1,355			$	1,335
	International ASP				$	1,485			$	1,455			$	1,355			$	1,455			$	1,435			$	1,355			$	1,480			$	1,455
	(1) Invisalign case net revenues / Invisalign case shipments
	(2) Adjusted for one-time adjustments (eg. Q4'12 refinement release and Q1'13 and Q2'13 grandfathered mid-course correction deferrals)
Invisalign Clear Aligner Cases Shipped by Geography:
	North America					65,280				72,685				70,610				68,140				276,715				74,730				78,865				80,130
	North American Orthodontists					32,235				35,420				35,885				33,505				137,045				38,000				39,545				41,610
	North American GP Dentists					33,045				37,265				34,725				34,635				139,670				36,730				39,320				38,520
	International					19,985				22,595				21,905				22,340				86,825				23,445				27,270				26,770
		Total Cases Shipped				85,265				95,280				92,515				90,480				363,540				98,175				106,135				106,900
Invisalign Clear Aligner Cases Shipped by Product:
	Invisalign Full					57,145				62,510				57,400				57,920				234,975				61,245				65,525				64,600
	Invisalign Express/Lite					12,855				15,300				14,610				15,940				58,705				18,940				21,285				19,230
	Invisalign Teen					9,935				11,860				15,265				11,255				48,315				12,580				13,920				17,740
	Invisalign Assist					5,330				5,610				5,240				5,365				21,545				5,410				5,405				5,330
		Total Cases Shipped				85,265				95,280				92,515				90,480				363,540				98,175				106,135				106,900
Number of Invisalign Doctors Cases Shipped To:
	North American Orthodontists					4,460				4,575				4,660				4,615				5,665				4,760				4,940				4,970
	North American GP Dentists					11,365				12,120				11,925				11,685				19,285				12,520				13,130				13,170
	International					5,085				5,480				5,400				5,715				9,285				5,840				6,355				6,510
		Total Doctors Cases Shipped To				20,910				22,175				21,985				22,015				34,235				23,120				24,425				24,650
Invisalign Doctor Utilization Rates*:
	North American Orthodontists					7.2				7.7				7.7				7.3				24.2				8.0				8.0				8.4
	North American GP Dentists					2.9				3.1				2.9				3.0				7.2				2.9				3.0				2.9
	International					3.9				4.1				4.1				3.9				9.4				4.0				4.3				4.1
		Total Utilization Rates				4.1				4.3				4.2				4.1				10.6				4.3				4.4				4.3
	* # of cases shipped/# of doctors to whom cases were shipped
Number of Invisalign Doctors Trained:
	North American Orthodontists					90				95				125				75				385				65				115				90
	North American GP Dentists					720				995				675				920				3,310				690				1,015				705
	International					715				965				685				780				3,145				905				1,020				840
		Total Doctors Trained Worldwide				1,525				2,055				1,485				1,775				6,840				1,660				2,150				1,635
		Total to Date Worldwide				71,180				73,235				74,720				76,495				76,495				78,155				80,305				81,940
Scanner and CAD/CAM Services Net Revenues:
	North America Scanner and CAD/CAM Services				$	11,120			$	11,752			$	9,439			$	9,940			$	42,251			$	11,952			$	10,454			$	10,875
	International Scanner and CAD/CAM Services					631				205				332				41				1,209				56				71				81
		Total Scanner and CAD/CAM Net Revenues			$	11,751			$	11,957			$	9,771			$	9,981			$	43,460			$	12,008			$	10,525			$	10,956
	Scanner Net Revenues				$	5,361			$	6,032			$	4,023			$	4,643			$	20,059			$	6,625			$	5,027			$	5,538
	CAD/CAM Services Net Revenues					6,390				5,925				5,748				5,338				23,401				5,383				5,498				5,418
		Total Scanner and CAD/CAM Services Net Revenues			$	11,751			$	11,957			$	9,771			$	9,981			$	43,460			$	12,008			$	10,525			$	10,956
Total Net Revenues by Geography:
	Total North America Net Revenues				$	97,991			$	104,749			$	99,007			$	101,626			$	403,373			$	108,997			$	112,671			$	114,763
	Total International Net Revenues					30,331				33,088				30,032				32,554				126,005				31,874				40,391				39,064
	Total Non-case Net Revenues					6,757				7,789				7,457				8,660				30,663				12,709				10,766				10,679
		Total Worldwide Net Revenues			$	135,079			$	145,626			$	136,496			$	142,840			$	560,041			$	153,580			$	163,828			$	164,506
			YoY% growth			28.8	%			21.3	%			8.4	%			10.8	%			16.7	%			13.7	%			12.5	%			20.5	%
			QoQ% growth			4.8	%			7.8	%			-6.3	%			4.6	%							7.5	%			6.7	%			0.4	%
Note: Historical public data may differ due to rounding. Additionally, rounding may effect totals.

ALIGN TECHNOLOGY, INC.
BUSINESS OUTLOOK SUMMARY
(unaudited)
The outlook figures provided below and elsewhere in this press release are approximate in nature since Align's business outlook is difficult to predict. Align's future performance involves numerous risks and uncertainties and the company's results could differ materially from the outlook provided. Some of the factors that could affect Align's future financial performance and business outlook are set forth under "Forward Looking Information" above in this press release.
Financial Outlook
(in millions, except per share amounts and percentages)
	Q4'13 Guidance
	GAAP
Net Revenues	$169.1 - $173.1
Gross Margin	74.7% - 75.3%
Operating Expenses	$83.8 - $85.4
Operating Margin	25.2% - 26.0%
Net Income per Diluted Share	$0.41 - $0.43
Stock Based Compensation Expense:
Cost of Net Revenues	$0.8
Operating Expenses	$7.1
Total Stock Based Compensation Expense	$7.9
Business Metrics:
	Q4'13
Case Shipments	109.7K - 112.1K
Cash, Cash Equivalents, and Marketable Securities	$434M - $444M
Capex	$3.3M - $4.8M
Depreciation & Amortization	$3.8M - $4.3M
Diluted Shares Outstanding	82.2M

Source: Align Technology

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