0001097149-24-000060 | 10-Q | XBRL Viewer

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Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Matter Beginning in the third quarter of 2023 and continuing through the first quarter of 2024, the Company has received cumulative assessments of approximately $100 million from His Majesty’s Revenue and Customs (“HMRC”) for unpaid value added tax (“VAT”) related to certain clear aligner sales made during the period of October 2019 through May 2023. We are required to pay these assessments prior to contesting or litigating in statutory appeal. The Company has historically asserted and continues to assert that doctor prescribed clear aligners sold by dentists for the orthodontic treatment of patient malocclusions are exempt from VAT, that the Company has reasonably relied upon statements and guidance by HMRC and that the Company’s interpretation of United Kingdom legislation is appropriate. In October 2024, the Company and HMRC reached a settlement agreement regarding the unpaid VAT related to certain aligner sales made during the period of October 2019 through mid-October 2023. As part of the settlement, HMRC agreed to vacate the judicial review (before the Administrative Court) originally scheduled for October 9th and October 10th, 2024, refund to the Company all assessments paid, approximately $100 million, for the period of October 2019 through May 2023 and withdraw any potential assessments for the period from June 2023 through mid-October 2023. Between October 21, 2024 and October 29, 2024, HMRC refunded to the Company all assessed amounts in full, approximately $100 million. The Company has remaining exposure in the amount of approximately $7.5 million for periods up to December 2023. A statutory appeal (before the First-tier Tribunal - “Tax Tribunal”) is listed for January 27th through January 30th, 2025, at which time we anticipate the Tax Tribunal will determine whether clear aligners are exempt from VAT as a matter of law and whether the Company has any liability as a matter of principle. It is not possible at this stage to accurately evaluate the likelihood of an unfavorable outcome from the Tax Tribunal statutory appeal. Accordingly, the Company has determined that a potential loss related to VAT accounted for in the periods up to December 2023 is not probable. Indemnification Provisions In the normal course of business to facilitate transactions in our services and products, we indemnify certain parties: customers, vendors, lessors, and other parties with respect to certain matters, including, but not limited to, services to be provided by us and intellectual property infringement claims made by third parties. In addition, we have entered into indemnification agreements with our directors and our executive officers that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. Several of these agreements limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to make a reasonable estimate of the maximum potential amount of future payments, if any, under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Additionally, we have a limited history of prior indemnification claims and the payments we have made under such agreements have not had a material adverse effect on our results of operations, cash flows or financial position. However, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our results of operations or cash flows in a particular period. As of September 30, 2024, we did not have any material indemnification claims that were probable or reasonably possible.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 115,963	$ 121,427	$ 317,555	$ 321,039

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Goodwill and Intangible Assets - Total Estimated Annual Future Amortization Expense for Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 4,643
2025	18,574
2026	17,969
2027	15,607
2028	14,505
2029	14,505
Thereafter	28,021
Net carrying value	$ 113,824	$ 81,131

Stockholders' Equity - Summary of Nonvested Shares (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
RSUs
Number of Shares Underlying RSUs
Unvested, beginning of period (in shares) \| shares	736
Granted (in shares) \| shares	638
Vested and released (in shares) \| shares	(254)
Forfeited (in shares) \| shares	(56)
Unvested, end of period (in shares) \| shares	1,064
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) \| $ / shares	$ 367.63
Granted (in usd per share) \| $ / shares	309.22
Vested and released (in usd per share) \| $ / shares	370.69
Forfeited (in usd per share) \| $ / shares	345.74
Unvested, end of period (in usd per share) \| $ / shares	$ 333.03
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term	1 year 7 months 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value \| $	$ 270,565
MSUs
Number of Shares Underlying RSUs
Unvested, beginning of period (in shares) \| shares	158
Granted (in shares) \| shares	83
Vested and released (in shares) \| shares	(32)
Forfeited (in shares) \| shares	(5)
Unvested, end of period (in shares) \| shares	204
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) \| $ / shares	$ 811.06
Granted (in usd per share) \| $ / shares	617.79
Vested and released (in usd per share) \| $ / shares	1,102.09
Forfeited (in usd per share) \| $ / shares	1,102.09
Unvested, end of period (in usd per share) \| $ / shares	$ 679.52
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term	1 year 7 months 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value \| $	$ 51,876
PSUs
Number of Shares Underlying RSUs
Unvested, beginning of period (in shares) \| shares	5
Granted (in shares) \| shares	6
Vested and released (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Unvested, end of period (in shares) \| shares	11
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) \| $ / shares	$ 201.63
Granted (in usd per share) \| $ / shares	206.36
Vested and released (in usd per share) \| $ / shares	0
Forfeited (in usd per share) \| $ / shares	0
Unvested, end of period (in usd per share) \| $ / shares	$ 204.33
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term	1 year 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value \| $	$ 2,805

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands

Total

Common Stock

Additional Paid-In Capital

Accumulated Other Comprehensive Income (Loss), Net

Retained Earnings

Beginning Balance (in shares) at Dec. 31, 2022

77,267

Beginning Balance at Dec. 31, 2022

$ 3,601,358

$ 8

$ 1,044,946

$ (10,284)

$ 2,566,688

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

321,039

Net change in unrealized gains (losses) from investments

2,521

Net change in foreign currency translation adjustment

9,810

Issuance of common stock relating to employee equity compensation plans (in shares)

^[1]

263

Issuance of common stock relating to employee equity compensation plans

^[1]

26,595

Tax withholdings related to net share settlements of equity awards

(22,294)

Common stock repurchased and retired (in shares)

(942)

Common stock repurchased and retired

(292,360)

(11,387)

(280,973)

Equity forward contract related to accelerated stock repurchase

40,000

Stock-based compensation

115,197

Ending Balance (in shares) at Sep. 30, 2023

76,588

Ending Balance at Sep. 30, 2023

3,801,866

$ 8

1,193,057

2,047

2,606,754

Beginning Balance (in shares) at Jun. 30, 2023

76,532

Beginning Balance at Jun. 30, 2023

3,638,301

$ 8

1,141,623

11,343

2,485,327

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

121,427

Net change in unrealized gains (losses) from investments

526

Net change in foreign currency translation adjustment

(9,822)

Issuance of common stock relating to employee equity compensation plans (in shares)

^[2]

Issuance of common stock relating to employee equity compensation plans

^[2]

12,339

Tax withholdings related to net share settlements of equity awards

(507)

Stock-based compensation

39,602

Ending Balance (in shares) at Sep. 30, 2023

76,588

Ending Balance at Sep. 30, 2023

3,801,866

$ 8

1,193,057

2,047

2,606,754

Beginning Balance (in shares) at Dec. 31, 2023

75,075

Beginning Balance at Dec. 31, 2023

3,630,489

$ 7

1,162,140

21,168

2,447,174

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

317,555

Net change in unrealized gains (losses) from investments

605

Net change in foreign currency translation adjustment

14,140

Issuance of common stock relating to employee equity compensation plans (in shares)

408

Issuance of common stock relating to employee equity compensation plans

25,281

Tax withholdings related to net share settlements of equity awards (in shares)

(92)

Tax withholdings related to net share settlements of equity awards

(27,972)

Common stock repurchased and retired (in shares)

(634)

Common stock repurchased and retired

(150,599)

(7,922)

(142,677)

Equity forward contract related to accelerated stock repurchase

49,527

(49,527)

Stock-based compensation

134,855

Ending Balance (in shares) at Sep. 30, 2024

74,757

Ending Balance at Sep. 30, 2024

3,944,354

$ 7

1,335,909

35,913

2,572,525

Beginning Balance (in shares) at Jun. 30, 2024

74,696

Beginning Balance at Jun. 30, 2024

3,757,908

$ 7

1,276,298

25,041

2,456,562

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

115,963

Net change in unrealized gains (losses) from investments

159

Net change in foreign currency translation adjustment

10,713

Issuance of common stock relating to employee equity compensation plans (in shares)

Issuance of common stock relating to employee equity compensation plans

10,942

Tax withholdings related to net share settlements of equity awards (in shares)

(2)

Tax withholdings related to net share settlements of equity awards

(370)

Stock-based compensation

49,039

Ending Balance (in shares) at Sep. 30, 2024

74,757

Ending Balance at Sep. 30, 2024

$ 3,944,354

$ 7

$ 1,335,909

$ 35,913

$ 2,572,525

[1]	1 Includes tax withholding shares related to net share settlements of equity awards.
[2]	1 Includes tax withholding shares related to net share settlements of equity awards.

Segments and Geographical Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segments and Geographical Information

Segment Information

We report segment information based on the management approach. The management approach designates the internal reporting used by our Chief Operating Decision Maker ("CODM"), our Chief Executive Officer, for decision making and performance assessment as the basis for determining our reportable segments. The performance measures of our reportable segments include net revenues, gross profit and income from operations. Income from operations for each segment includes all geographic revenues, related cost of net revenues and operating expenses directly attributable to the reportable segment. Certain operating expenses are not directly attributable to a reportable segment and must be allocated. Each allocation is measured differently based on the nature of the cost being allocated. Certain other operating expense are not specifically allocated to segment income from operations and generally include various corporate expenses such as stock-based compensation and costs related to IT, facilities, human resources, accounting and finance, legal and regulatory, other separately managed general and administrative costs outside the reportable segments and restructuring costs. We group our operations into two reportable segments: Clear Aligner segment and Imaging Systems and CAD/CAM Services (“Systems and Services”) segment.

Summarized financial information by segment is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenues
Clear Aligner	$	786,844	$	794,939	$	2,435,833	$	2,417,417
Systems and Services	191,028		165,275		567,960		488,117
Total net revenues	$	977,872	$	960,214	$	3,003,793	$	2,905,534
Gross profit
Clear Aligner	$	552,841	$	562,331	$	1,720,524	$	1,731,721
Systems and Services	128,933		100,745		381,694		305,618
Total gross profit	$	681,774	$	663,076	$	2,102,218	$	2,037,339
Income from operations
Clear Aligner	$	276,319	$	296,319	$	862,183	$	879,933
Systems and Services	68,744		44,975		189,227		132,600
Unallocated corporate expenses	(182,765)		(174,948)		(587,931)		(540,740)
Total income from operations	$	162,298	$	166,346	$	463,479	$	471,793
Stock-based compensation
Clear Aligner	$	7,648	$	5,772	$	20,031	$	14,917
Systems and Services	427		366		1,207		950
Unallocated corporate expenses	40,964		33,464		113,617		99,330
Total stock-based compensation	$	49,039	$	39,602	$	134,855	$	115,197
Depreciation and amortization
Clear Aligner	$	17,971	$	17,737	$	49,027	$	50,725
Systems and Services	8,099		7,827		23,007		23,716
Unallocated corporate expenses	11,723		11,466		34,871		34,228
Total depreciation and amortization	$	37,793	$	37,030	$	106,905	$	108,669

The following table reconciles total segment income from operations in the table above to net income before provision for income taxes (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Total segment income from operations	$	345,063	$	341,294	$	1,051,410	$	1,012,533
Unallocated corporate expenses	(182,765)		(174,948)		(587,931)		(540,740)



Total income from operations	162,298		166,346		463,479		471,793
Interest income	4,003		5,522		11,696		12,280
Other income (expense), net	(371)		(9,757)		(6,993)		(15,749)

Net income before provision for income taxes	$	165,930	$	162,111	$	468,182	$	468,324

Our CODM does not regularly review total assets at the reportable segment level; however, we have provided geographical information related to our long-lived assets below.

Geographical Information

Net revenues are presented below by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenues 1:
U.S.	$	421,204	$	421,272	$	1,291,838	$	1,262,008
Switzerland	216,638		259,587		739,342		913,724


Other International	340,030		279,355		972,613		729,802
Total net revenues	$	977,872	$	960,214	$	3,003,793	$	2,905,534

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):


	September 30, 2024		December 31, 2023
Long-lived assets 1:
Switzerland	$	580,428	$	575,432
U.S.	203,772		210,275


Other International	627,306		623,155
Total long-lived assets	$	1,411,506	$	1,408,862

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Credit Facility (Details) - 2022 Credit Facility	Sep. 30, 2024 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, available borrowings	300,000,000.0
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, available borrowings	$ 50,000,000.0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

The supplemental cash flow information consists of the following (in thousands):


	Nine Months Ended September 30,
	2024		2023
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	17,631	$	25,979
Final settlement of prior year stock repurchase forward contract	50,000		—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,854	$	25,559
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	25,422	$	25,048

Segments and Geographical Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 977,872	$ 960,214	$ 3,003,793	$ 2,905,534
Gross profit	681,774	663,076	2,102,218	2,037,339
Income from operations	162,298	166,346	463,479	471,793
Stock-based compensation	49,039	39,602	134,855	115,197
Depreciation and amortization	37,793	37,030	106,905	108,669
Interest income	4,003	5,522	11,696	12,280
Other income (expense), net	(371)	(9,757)	(6,993)	(15,749)
Net income before provision for income taxes	165,930	162,111	468,182	468,324
Operating Segments
Segment Reporting Information [Line Items]
Income from operations	345,063	341,294	1,051,410	1,012,533
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income from operations	(182,765)	(174,948)	(587,931)	(540,740)
Stock-based compensation	40,964	33,464	113,617	99,330
Depreciation and amortization	11,723	11,466	34,871	34,228
Clear Aligner
Segment Reporting Information [Line Items]
Net revenues	786,844	794,939	2,435,833	2,417,417
Gross profit	552,841	562,331	1,720,524	1,731,721
Clear Aligner \| Operating Segments
Segment Reporting Information [Line Items]
Income from operations	276,319	296,319	862,183	879,933
Stock-based compensation	7,648	5,772	20,031	14,917
Depreciation and amortization	17,971	17,737	49,027	50,725
Systems and Services
Segment Reporting Information [Line Items]
Net revenues	191,028	165,275	567,960	488,117
Gross profit	128,933	100,745	381,694	305,618
Systems and Services \| Operating Segments
Segment Reporting Information [Line Items]
Income from operations	68,744	44,975	189,227	132,600
Stock-based compensation	427	366	1,207	950
Depreciation and amortization	$ 8,099	$ 7,827	$ 23,007	$ 23,716

Accounting for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 49,967	$ 40,684	$ 150,627	$ 147,285
Effective income tax rate, continuing operations	30.10%	25.10%	32.20%	31.40%
Unrecognized tax benefits	$ 156,200		$ 156,200		$ 149,200

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Accounting for Income Taxes	9 Months Ended
Accounting for Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Accounting for Income Taxes	Accounting for Income Taxes Our provision for income taxes was $50.0 million and $40.7 million for the three months ended September 30, 2024 and 2023, respectively, representing effective tax rates of 30.1% and 25.1%, respectively. Our provision for incomes taxes was $150.6 million and $147.3 million for the nine months ended September 30, 2024 and 2023, respectively, representing effective tax rates of 32.2% and 31.4%. Our effective tax rate differs from the statutory federal income tax rate of 21% for the three and nine months ended September 30, 2024 and 2023 primarily due to the recognition of additional tax expense resulting from U.S. taxes on foreign earnings, foreign income taxed at different rates, state income taxes, and non-deductible expenses in the U.S. We exercise significant judgment in regards to estimates of future market growth, forecasted earnings and projected taxable income in determining the provision for income taxes and for purposes of assessing our ability to utilize any future benefit from deferred tax assets. We continue to assess the realizability of the deferred tax assets as we take into account new information. We may be required to adjust the valuation allowance for deferred tax assets if we determine, based on available evidence at the time of the determination, that it is more likely than not that some portion or all of the deferred tax assets will not be realized. Changes to the valuation allowance could have a material adverse effect on our results of operations. Our total gross unrecognized tax benefits, excluding interest and penalties, were $156.2 million and $149.2 million as of September 30, 2024 and December 31, 2023, respectively, a material amount of which would impact our effective tax rate if recognized. The increase in our unrecognized tax benefits relates primarily to positions taken on income tax return calculations finalized during the three and nine months ended September 30, 2024.

- Definition

The entire disclosure for income tax.

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+ Details

Financial Instruments - Derivative Financial Instruments (Details) - Level 2 - Foreign Exchange Forward € in Thousands, ₪ in Thousands, ₩ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, zł in Thousands, SFr in Thousands, R$ in Thousands, Kč in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 GBP (£)	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 PLN (zł)	Sep. 30, 2024 CNY (¥)	Sep. 30, 2024 JPY (¥)	Sep. 30, 2024 ILS (₪)	Sep. 30, 2024 BRL (R$)	Sep. 30, 2024 CHF (SFr)	Sep. 30, 2024 NZD ($)	Sep. 30, 2024 AUD ($)	Sep. 30, 2024 TWD ($)	Sep. 30, 2024 CZK (Kč)	Sep. 30, 2024 KRW (₩)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 PLN (zł)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 JPY (¥)	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 BRL (R$)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2023 NZD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2023 TWD ($)	Dec. 31, 2023 CZK (Kč)	Dec. 31, 2023 KRW (₩)	Dec. 31, 2023 MXN ($)
Derivative [Line Items]
Notional amount	$ 649,286															$ 744,462
Euro
Derivative [Line Items]
Notional amount	197,946	€ 176,900														373,705	€ 337,780
British Pound
Derivative [Line Items]
Notional amount	141,511		£ 105,720													58,005		£ 45,590
Canadian Dollar
Derivative [Line Items]
Notional amount	71,439			$ 96,300												82,166			$ 108,900
Polish Zloty
Derivative [Line Items]
Notional amount	71,001				zł 272,000											70,393				zł 276,900
Chinese Yuan
Derivative [Line Items]
Notional amount	67,816					¥ 473,500										34,361					¥ 244,500
Japanese Yen
Derivative [Line Items]
Notional amount	35,176						¥ 5,000,000									25,347						¥ 3,577,000
Israeli Shekel
Derivative [Line Items]
Notional amount	21,458							₪ 79,600								21,800							₪ 78,700
Brazilian Real
Derivative [Line Items]
Notional amount	20,044								R$ 109,800							16,563								R$ 80,500
Mexican Peso
Derivative [Line Items]
Notional amount																13,593															$ 230,000
Swiss Franc
Derivative [Line Items]
Notional amount	6,783									SFr 5,700						34,132									SFr 28,600
New Zealand Dollar
Derivative [Line Items]
Notional amount	4,898										$ 7,700					4,161										$ 6,600
Australian Dollar
Derivative [Line Items]
Notional amount	3,330											$ 4,800				2,921											$ 4,300
New Taiwan Dollar
Derivative [Line Items]
Notional amount	3,110												$ 98,000			2,919												$ 89,000
Czech Koruna
Derivative [Line Items]
Notional amount	2,860													Kč 64,400		2,687													Kč 60,200
Korean Won
Derivative [Line Items]
Notional amount	$ 1,914														₩ 2,500,000	$ 1,709														₩ 2,200,000

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 115,963	$ 121,427	$ 317,555	$ 321,039
Weighted average common shares outstanding, basic (in shares)	74,736,000	76,569,000	75,031,000	76,670,000
Dilutive effect of potential common stock (in shares)	21,000	257,000	118,000	179,000
Total shares, diluted (in shares)	74,757,000	76,826,000	75,149,000	76,849,000
Net income per share, basic (in usd per share)	$ 1.55	$ 1.59	$ 4.23	$ 4.19
Net income per share, diluted (in usd per share)	$ 1.55	$ 1.58	$ 4.23	$ 4.18
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (in shares)	1,173,000	245,000	689,000	263,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (in shares)	1,169,700		687,700
Employee stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (in shares)	3,100		800

Legal Proceedings	9 Months Ended
Legal Proceedings	Sep. 30, 2024
Legal Proceedings [Abstract]
Legal Proceedings	Legal Proceedings 2019 Shareholder Derivative Lawsuit In January 2019, three derivative lawsuits were filed in the U.S. District Court for the Northern District of California which were later consolidated, purportedly on our behalf, naming as defendants the then current members of our Board of Directors along with certain of our executive officers. The complaints assert various state law causes of action, including for breaches of fiduciary duty, insider trading, and unjust enrichment. The complaints seek unspecified monetary damages on our behalf, which is named solely as a nominal defendant against whom no recovery is sought, as well as disgorgement and the costs and expenses associated with the litigation, including attorneys’ fees. The consolidated action is currently stayed. Defendants have not yet responded to the complaints. On April 12, 2019, a derivative lawsuit was also filed in California Superior Court for Santa Clara County, purportedly on our behalf, naming as defendants the members of our Board of Directors along with certain of our executive officers. The allegations in the complaint are similar to those in the derivative suits described above. The matter is currently stayed. Defendants have not yet responded to the complaint. In the first quarter of 2024, the parties to these actions entered into a settlement agreement whereby, subject to court approval, plaintiffs will dismiss the lawsuits and release their claims. In the settlement agreement, Align and the defendants deny any wrongdoing and are not making any monetary payments, other than a potential award of $575,000 in attorney’s fees to plaintiffs’ counsel, covered by insurance. On August 2, 2024, the U.S. District Court for the Northern District of California granted preliminary approval of the settlement. Antitrust Class Actions On June 5, 2020, a dental practice named Simon and Simon, PC doing business as City Smiles brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of itself and a putative class of similarly situated practices seeking treble monetary damages, interest, costs, attorneys’ fees, and injunctive relief relating to our alleged market activities in alleged clear aligner and intraoral scanner markets. Plaintiff filed an amended complaint and added VIP Dental Spas as a plaintiff on August 14, 2020. On December 18, 2023, the court certified a class of persons or entities that purchased Invisalign directly from Align between January 1, 2019 and March 31, 2022. The court denied Plaintiffs’ motion to certify a class of purchasers of scanners. On February 21, 2024, the court granted Align’s motion for summary judgment on all claims brought by the plaintiffs. The court entered judgment on March 22, 2024. Plaintiffs have appealed the district court’s summary judgment ruling to the United States Court of Appeals for the Ninth Circuit. Plaintiff-Appellants' opening brief was filed July 15, 2024. Align’s response brief was submitted October 21, 2024 and Plaintiff-Appellants' reply brief is due January 6, 2025. On May 3, 2021, an individual named Misty Snow brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of herself and a putative class of similarly situated individuals seeking treble monetary damages, interest, costs, attorneys’ fees, and injunctive relief relating to our alleged market activities in alleged clear aligner and intraoral scanner markets based on Section 2 of the Sherman Act. Plaintiffs have filed several amended complaints adding new plaintiffs, various state law claims, and allegations based on Section 1 of the Sherman Act. On November 29, 2023, the court certified a class of indirect purchasers of Invisalign between July 1, 2018 and December 31, 2023 and a class of indirect purchasers of Invisalign seeking injunctive relief. On February 21, 2024, the court granted Align’s motion for summary judgment on the claims related to Section 2 allegations. The court entered judgment for the Section 2 and related state law claims on March 22, 2024. Plaintiffs have appealed the district court’s summary judgment ruling to the United States Court of Appeals for the Ninth Circuit. Plaintiff-Appellants' opening brief was filed July 15, 2024. Align’s response brief was submitted October 21, 2024 and Plaintiff-Appellants' reply brief is due January 6, 2025. We are currently unable to predict the outcome of these lawsuits and therefore we cannot determine the likelihood of loss, if any, nor estimate a range of possible loss. In June 2024, Align and the Section 1 plaintiffs reached a settlement in principle that would resolve all remaining claims in the Section 1 lawsuit. The settlement terms included a $27.5 million cash payment and an offer of a $300 coupon for class members who elected to purchase Invisalign treatment. We agreed to settle the lawsuit to avoid the distraction and uncertainty of litigation. On September 18, 2024, the U.S. District Court for the Northern District of California denied plaintiffs’ motion for preliminary approval of the settlement without prejudice, allowing plaintiffs to file a renewed motion within 35 days. Plaintiffs and Align filed a renewed motion for preliminary approval of the settlement on October 28, 2024. We are unable to predict the timeline or outcome of the motion to approve the settlement. We continue to believe that plaintiffs’ Section 1 claims are without merit and remain ready to vigorously defend ourselves against those claims. During the nine months ended September 30, 2024 we accrued a loss of $31.1 million for legal settlements for multiple legal matters, but primarily related to the settlement of the Section 1 claims described above. Straumann Litigation On April 11, 2024, we filed a lawsuit in the U.S. District Court for the Western District of Texas against ClearCorrect Operating, LLC, ClearCorrect Holdings, Inc., and Institut Straumann AG. The complaint asserts claims of false advertising, unfair competition, civil conspiracy, and infringement of Align patents related to aligner material, treatment planning, and intraoral scanner technologies. Among other things, the complaint seeks relief enjoining the defendants’ infringement of multiple Align multilayer material patents through defendants’ manufacture, sale and offer for sale of aligners made with Zendura FLX/ClearQuartz materials. On June 20, 2024, Defendants filed motions to dismiss the Complaint, which are pending. On July 9, 2024, ClearCorrect Operating, LLC, ClearCorrect Holdings, Inc. and Straumann USA LLC filed counterclaims against Align for alleged antitrust violations, false advertising, unfair competition, and breach of contract. Among other things, the counterclaims seek relief enjoining Align’s accused business practices, invalidating Align’s asserted patents, and money damages. On September 13, 2024, we filed a motion to dismiss defendants’ counterclaims. Align believes these claims are without merit and intends to vigorously defend itself. Align is currently unable to predict the outcome of this lawsuit and cannot determine the likelihood of loss nor estimate a range of possible loss. In addition to the above, in the ordinary course of our operations, we are involved in a variety of claims, suits, investigations, and proceedings, including actions with respect to intellectual property claims, patent infringement claims, government investigations, labor and employment claims, breach of contract claims, tax, and other matters. Regardless of the outcome, these proceedings can have an adverse impact on us because of defense costs, diversion of management resources, and other factors. Although the results of complex legal proceedings are difficult to predict and our view of these matters may change in the future as litigation and events related thereto unfold; we currently do not believe that these matters, individually or in the aggregate, will materially affect our financial position, results of operations or cash flows.

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 02, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount, intangible assets		$ 185,231		$ 185,231		$ 156,662
Amortization		4,600	$ 4,200	14,200	$ 12,400
Cubicure
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 47,000
Existing technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount, intangible assets		$ 146,651		$ 146,651		$ 112,051
Weighted average amortization period				11 years		10 years
Existing technology \| Cubicure
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 47,000
Weighted average amortization period	13 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill by Reportable Segment

The change in the carrying value of goodwill for the nine months ended September 30, 2024, categorized by reportable segment, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
Balance as of December 31, 2023	$	111,086	$	308,444	$	419,530
Additions from acquisition	47,576		—		47,576
Foreign currency translation adjustments	963		3,443		4,406
Balance as of September 30, 2024	$	159,625	$	311,887	$	471,512

Schedule of Amortized Intangible Assets

Acquired finite-lived intangible assets, excluding intangibles that were fully amortized, are as follows (in thousands):


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of September 30, 2024		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of September 30, 2024
Existing technology	11	$	146,651	$	(48,581)	$	—	$	98,070
Customer relationships	10	21,500		(9,675)		—		11,825
Trademarks and tradenames	10	16,600		(8,759)		(4,122)		3,719
Patents	12	480		(270)		—		210
		$	185,231	$	(67,285)	$	(4,122)	113,824
Foreign currency translation adjustments								2,081
Total intangible assets, net								$	115,905


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2023		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2023
Existing technology	10	$	112,051	$	(45,331)	$	(4,328)	$	62,392
Customer relationships	10	21,500		(8,063)		—		13,437
Trademarks and tradenames	10	16,600		(7,605)		(4,122)		4,873
Patents	8	6,511		(6,082)		—		429
		$	156,662	$	(67,081)	$	(8,450)	81,131
Foreign currency translation adjustments								987
Total intangible assets, net								$	82,118

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The total estimated annual future amortization expense for these acquired intangible assets as of September 30, 2024, is as follows (in thousands):


Fiscal Year Ending December 31,	Amortization
Remainder of 2024	$	4,643
2025	18,574
2026	17,969
2027	15,607
2028	14,505
2029	14,505
Thereafter	28,021
Total	$	113,824

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

Cash and Cash Equivalents

The following tables summarize our cash and cash equivalents, and marketable securities on our Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in thousands):


									Reported as:
September 30, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	860,461	$	—	$	—	$	860,461	$	860,461	$	—	$	—
Money market funds	181,474		—		—		181,474		181,474		—		—






Total	$	1,041,935	$	—	$	—	$	1,041,935	$	1,041,935	$	—	$	—

We have no short-term or long-term marketable securities as of September 30, 2024.


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022

Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities on our Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in thousands):


									Reported as:
September 30, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	860,461	$	—	$	—	$	860,461	$	860,461	$	—	$	—
Money market funds	181,474		—		—		181,474		181,474		—		—






Total	$	1,041,935	$	—	$	—	$	1,041,935	$	1,041,935	$	—	$	—

We have no short-term or long-term marketable securities as of September 30, 2024.


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022

Contractual Maturity of Marketable Securities

The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2023 (in thousands):


	December 31, 2023
Due in 1 year or less	$	34,617
Due in 1 year through 5 years	8,709
Total	$	43,326

Unrealized Losses for Investments in a Continuous Unrealized Loss Position

The following table summarizes the fair value and gross unrealized losses as of December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):


	As of December 31, 2023
	Less than 12 months				12 Months of Greater				Total
December 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	—	$	—	$	27,939	$	(676)		$	27,939	$	(676)
U.S. government treasury bonds	2,044		(11)		2,712		(88)			4,756		(99)
Asset-backed securities	1,018		(1)		83		—			1,101		(1)
Municipal bonds	—		—		700		(2)			700		(2)
U.S. government agency bonds	4,003		(11)		1,178		(23)			5,181		(34)

Total	$	7,065	$	(23)	$	32,612	$	(789)		$	39,677	$	(812)

Financial Assets Measured At Fair Value On A Recurring Basis

The following tables summarize our financial assets measured at fair value as of September 30, 2024 and December 31, 2023 (in thousands):


Description	Balance as of September 30, 2024		Level 1		Level 2
Cash equivalents:
Money market funds	$	181,474	$	181,474	$	—






















	$	181,474	$	181,474	$	—


Description	Balance as of December 31, 2023		Level 1		Level 2
Cash equivalents:
Money market funds	$	49,756	$	49,756	$	—




Short-term investments:
Corporate bonds	28,704		—		28,704
Municipal bonds	700		—		700
U.S. government agency bonds	5,181		—		5,181
Asset-backed securities	719		—		719



Long-term investments:
U.S. government treasury bonds	4,756		—		4,756
Corporate bonds	2,568		—		2,568


Asset-backed securities	698		—		698






	$	93,082	$	49,756	$	43,326

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of September 30, 2024 and December 31, 2023 (in thousands):


	September 30, 2024
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€176,900	$	197,946
British Pound	£105,720	141,511
Canadian Dollar	$96,300	71,439
Polish Zloty	PLN272,000	71,001
Chinese Yuan	¥473,500	67,816
Japanese Yen	¥5,000,000	35,176
Israeli Shekel	ILS79,600	21,458
Brazilian Real	R$109,800	20,044
Swiss Franc	CHF5,700	6,783
New Zealand Dollar	NZ$7,700	4,898
Australian Dollar	A$4,800	3,330
New Taiwan Dollar	NT$98,000	3,110
Czech Koruna	Kč64,400	2,860
Korean Won	₩2,500,000	1,914
		$	649,286


	December 31, 2023
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€337,780	$	373,705
Canadian Dollar	$108,900	82,166
Polish Zloty	PLN276,900	70,393
British Pound	£45,590	58,005
Chinese Yuan	¥244,500	34,361
Swiss Franc	CHF28,600	34,132
Japanese Yen	¥3,577,000	25,347
Israeli Shekel	ILS78,700	21,800
Brazilian Real	R$80,500	16,563
Mexican Peso	M$230,000	13,593
New Zealand Dollar	NZ$6,600	4,161
Australian Dollar	A$4,300	2,921
New Taiwan Dollar	NT$89,000	2,919
Czech Koruna	Kč60,200	2,687
Korean Won	₩2,200,000	1,709
		$	744,462

Financial Instruments

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

Financial Instruments

Cash, Cash Equivalents and Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities on our Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in thousands):


									Reported as:
September 30, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	860,461	$	—	$	—	$	860,461	$	860,461	$	—	$	—
Money market funds	181,474		—		—		181,474		181,474		—		—






Total	$	1,041,935	$	—	$	—	$	1,041,935	$	1,041,935	$	—	$	—

We have no short-term or long-term marketable securities as of September 30, 2024.


									Reported as:
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable securities, short-term		Marketable securities, long-term
Cash	$	887,682	$	—	$	—	$	887,682	$	887,682	$	—	$	—
Money market funds	49,756		—		—		49,756		49,756		—		—
Corporate bonds	31,943		5		(676)		31,272		—		28,704		2,568
U.S. government treasury bonds	4,855		—		(99)		4,756		—		—		4,756
Asset-backed securities	1,416		2		(1)		1,417		—		719		698
Municipal bonds	702		—		(2)		700		—		700		—
U.S. government agency bonds	5,215		—		(34)		5,181		—		5,181		—

Total	$	981,569	$	7	$	(812)	$	980,764	$	937,438	$	35,304	$	8,022

The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2023 (in thousands):


	December 31, 2023
Due in 1 year or less	$	34,617
Due in 1 year through 5 years	8,709
Total	$	43,326

The securities that we invest in are generally deemed to be low risk based on their credit ratings from the major rating agencies. The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. As interest rates increase, those securities purchased at a lower yield show a mark-to-market unrealized loss. Our unrealized losses as of December 31, 2023 are primarily due to changes in interest rates and credit spreads.


	As of December 31, 2023
	Less than 12 months				12 Months of Greater				Total
December 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Corporate bonds	$	—	$	—	$	27,939	$	(676)		$	27,939	$	(676)
U.S. government treasury bonds	2,044		(11)		2,712		(88)			4,756		(99)
Asset-backed securities	1,018		(1)		83		—			1,101		(1)
Municipal bonds	—		—		700		(2)			700		(2)
U.S. government agency bonds	4,003		(11)		1,178		(23)			5,181		(34)

Total	$	7,065	$	(23)	$	32,612	$	(789)		$	39,677	$	(812)

Fair Value Measurements

Fair value is an exit price, representing the amount that would be received from selling an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. We use the U.S. GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value:

Level 1 — Inputs to the valuation techniques that are quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs to the valuation techniques that are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly.

Level 3 — Inputs to the valuation techniques that are unobservable for the assets or liabilities.

The following tables summarize our financial assets measured at fair value as of September 30, 2024 and December 31, 2023 (in thousands):


Description	Balance as of September 30, 2024		Level 1		Level 2
Cash equivalents:
Money market funds	$	181,474	$	181,474	$	—






















	$	181,474	$	181,474	$	—


Description	Balance as of December 31, 2023		Level 1		Level 2
Cash equivalents:
Money market funds	$	49,756	$	49,756	$	—




Short-term investments:
Corporate bonds	28,704		—		28,704
Municipal bonds	700		—		700
U.S. government agency bonds	5,181		—		5,181
Asset-backed securities	719		—		719



Long-term investments:
U.S. government treasury bonds	4,756		—		4,756
Corporate bonds	2,568		—		2,568


Asset-backed securities	698		—		698






	$	93,082	$	49,756	$	43,326

Accounts Receivable Factoring

We enter into factoring transactions on a non-recourse basis with financial institutions to sell certain of our non-U.S. accounts receivable. We account for these transactions as sales of financial assets and include the cash proceeds as a part of our cash flows from operations in the Condensed Consolidated Statements of Cash Flows. Total accounts receivable sold under factoring arrangements was $8.2 million and $24.2 million during the three months ended September 30, 2024 and 2023, respectively, and $34.2 million and $40.4 million during the nine months ended September 30, 2024 and 2023, respectively. Factoring fees on the sales of receivables were recorded in Other income (expense), net in our Condensed Consolidated Statement of Operations and were not material.

Investments in Privately Held Companies

Our investments in privately held companies in which we cannot exercise significant influence and do not own a majority equity interest or otherwise control are accounted for as investments in equity securities. We have elected to account for all investments in equity securities in accordance with the measurement alternative. Under the measurement alternative, we record the value of our investments in equity securities at cost, minus impairment, if any. Additionally, we adjust the carrying value of our investments in equity securities to fair value for observable transactions for identical or similar investments of the same issuer.

On April 24, 2023 and April 22, 2024, we entered into Subscription Agreements (the “Subscription Agreements”) with Heartland Dental Holding Corporation (“Heartland”). Pursuant to the Subscription Agreements we acquired less than a 5% equity interest through the purchase of Class A Common Stock for $150 million in total. We are accounting for our investment in Heartland as an investment in equity securities. Based on a review of the relevant facts and circumstances, primarily observable transactions for Heartland's Class A Common Stock, we determined that no adjustment to the carrying value of our investment was necessary for the three or nine months ended September 30, 2024.

Our investments in privately held companies in which we can exercise significant influence are accounted for as equity method investments. We have elected to account for our equity method investments under the fair value option.

The carrying value of our investments in equity securities and equity method investments are reported on our Condensed Consolidated Balance Sheets as Other assets and any fair value adjustments or impairment, if any, are recorded in Other income (expense), net on our Condensed Consolidated Statement of Operations.

Derivatives Not Designated as Hedging Instruments

We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on certain assets and liabilities. These forward contracts are classified within Level 2 of the fair value hierarchy. As a result of the settlement of foreign currency forward contracts, we recognized a net loss of $24.5 million and a net gain of $19.8 million, respectively, during the three months ended September 30, 2024 and 2023, and a net gain of $2.7 million and $14.4 million, respectively, during the nine months ended September 30, 2024 and 2023. Recognized gains and losses from the settlement of foreign currency forward contracts are recorded to Other income (expense), net in our Condensed Consolidated Statements of Operations. As of September 30, 2024 and December 31, 2023, the fair value of foreign exchange forward contracts outstanding were not material.

The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of September 30, 2024 and December 31, 2023 (in thousands):


	September 30, 2024
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€176,900	$	197,946
British Pound	£105,720	141,511
Canadian Dollar	$96,300	71,439
Polish Zloty	PLN272,000	71,001
Chinese Yuan	¥473,500	67,816
Japanese Yen	¥5,000,000	35,176
Israeli Shekel	ILS79,600	21,458
Brazilian Real	R$109,800	20,044
Swiss Franc	CHF5,700	6,783
New Zealand Dollar	NZ$7,700	4,898
Australian Dollar	A$4,800	3,330
New Taiwan Dollar	NT$98,000	3,110
Czech Koruna	Kč64,400	2,860
Korean Won	₩2,500,000	1,914
		$	649,286


	December 31, 2023
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€337,780	$	373,705
Canadian Dollar	$108,900	82,166
Polish Zloty	PLN276,900	70,393
British Pound	£45,590	58,005
Chinese Yuan	¥244,500	34,361
Swiss Franc	CHF28,600	34,132
Japanese Yen	¥3,577,000	25,347
Israeli Shekel	ILS78,700	21,800
Brazilian Real	R$80,500	16,563
Mexican Peso	M$230,000	13,593
New Zealand Dollar	NZ$6,600	4,161
Australian Dollar	A$4,300	2,921
New Taiwan Dollar	NT$89,000	2,919
Czech Koruna	Kč60,200	2,687
Korean Won	₩2,200,000	1,709
		$	744,462

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Accrued payroll and benefits	$ 241,638	$ 220,862
Accrued expenses	74,158	71,109
Accrued sales and marketing expenses	38,152	34,035
Accrued income taxes	36,860	38,103
Current operating lease liabilities	31,168	29,651
Accrued property, plant and equipment	11,132	23,618
Other accrued liabilities	141,448	108,402
Accrued liabilities	$ 574,556	$ 525,780

Stockholders' Equity - Stock-based Compensation Employee Stock Purchase Plan Fair Value Assumptions (Details) - Employee stock - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Class of Stock [Line Items]
Expected term (in years)	1 year 3 months 18 days	1 year 2 months 12 days
Expected volatility	49.20%	56.20%
Risk-free interest rate	4.60%	4.90%
Expected dividends	0.00%	0.00%
Weighted average fair value at grant date (in usd per share)	$ 94.70	$ 133.53

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
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-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Segments and Geographical Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized financial information by segment is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenues
Clear Aligner	$	786,844	$	794,939	$	2,435,833	$	2,417,417
Systems and Services	191,028		165,275		567,960		488,117
Total net revenues	$	977,872	$	960,214	$	3,003,793	$	2,905,534
Gross profit
Clear Aligner	$	552,841	$	562,331	$	1,720,524	$	1,731,721
Systems and Services	128,933		100,745		381,694		305,618
Total gross profit	$	681,774	$	663,076	$	2,102,218	$	2,037,339
Income from operations
Clear Aligner	$	276,319	$	296,319	$	862,183	$	879,933
Systems and Services	68,744		44,975		189,227		132,600
Unallocated corporate expenses	(182,765)		(174,948)		(587,931)		(540,740)
Total income from operations	$	162,298	$	166,346	$	463,479	$	471,793
Stock-based compensation
Clear Aligner	$	7,648	$	5,772	$	20,031	$	14,917
Systems and Services	427		366		1,207		950
Unallocated corporate expenses	40,964		33,464		113,617		99,330
Total stock-based compensation	$	49,039	$	39,602	$	134,855	$	115,197
Depreciation and amortization
Clear Aligner	$	17,971	$	17,737	$	49,027	$	50,725
Systems and Services	8,099		7,827		23,007		23,716
Unallocated corporate expenses	11,723		11,466		34,871		34,228
Total depreciation and amortization	$	37,793	$	37,030	$	106,905	$	108,669

The following table reconciles total segment income from operations in the table above to net income before provision for income taxes (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Total segment income from operations	$	345,063	$	341,294	$	1,051,410	$	1,012,533
Unallocated corporate expenses	(182,765)		(174,948)		(587,931)		(540,740)



Total income from operations	162,298		166,346		463,479		471,793
Interest income	4,003		5,522		11,696		12,280
Other income (expense), net	(371)		(9,757)		(6,993)		(15,749)

Net income before provision for income taxes	$	165,930	$	162,111	$	468,182	$	468,324

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Net revenues are presented below by geographic area (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenues 1:
U.S.	$	421,204	$	421,272	$	1,291,838	$	1,262,008
Switzerland	216,638		259,587		739,342		913,724


Other International	340,030		279,355		972,613		729,802
Total net revenues	$	977,872	$	960,214	$	3,003,793	$	2,905,534

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):


	September 30, 2024		December 31, 2023
Long-lived assets 1:
Switzerland	$	580,428	$	575,432
U.S.	203,772		210,275


Other International	627,306		623,155
Total long-lived assets	$	1,411,506	$	1,408,862

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Raw materials	$ 126,959	$ 145,492
Work in process	77,174	91,259
Finished goods	49,986	60,151
Total inventories	$ 254,119	$ 296,902

Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2024

Notes To Financial Statements [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Raw materials	$	126,959	$	145,492
Work in process	77,174		91,259
Finished goods	49,986		60,151
Total inventories	$	254,119	$	296,902

Schedule of Prepaid Expense and Other Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Value added tax receivables	$	148,903	$	143,728
Prepaid expenses	72,985		52,487
Other current assets	68,844		77,335
Total prepaid expenses and other current assets	$	290,732	$	273,550

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Accrued payroll and benefits	$	241,638	$	220,862
Accrued expenses	74,158		71,109
Accrued sales and marketing expenses	38,152		34,035
Accrued income taxes	36,860		38,103
Current operating lease liabilities	31,168		29,651
Accrued property, plant and equipment	11,132		23,618

Other accrued liabilities	141,448		108,402
Total accrued liabilities	$	574,556	$	525,780

Schedule of Warranty Accrual

Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands):


	Nine Months Ended September 30,
	2024		2023
Balance at beginning of period	$	22,426	$	17,873
Charged to cost of net revenues	14,658		14,329
Actual warranty expenditures	(9,889)		(10,327)
Balance at end of period	$	27,195	$	21,875

Schedule of Deferred Revenues

Deferred revenues consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Deferred revenues - current	$	1,380,022	$	1,427,706
Deferred revenues - long-term 1	$	108,676	$	138,000

1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheets.

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The change in the carrying value of goodwill for the nine months ended September 30, 2024, categorized by reportable segment, is as follows (in thousands):


	Clear Aligner		Systems and Services		Total
Balance as of December 31, 2023	$	111,086	$	308,444	$	419,530
Additions from acquisition	47,576		—		47,576
Foreign currency translation adjustments	963		3,443		4,406
Balance as of September 30, 2024	$	159,625	$	311,887	$	471,512

Finite-Lived Intangible Assets

Acquired finite-lived intangible assets, excluding intangibles that were fully amortized, are as follows (in thousands):


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of September 30, 2024		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of September 30, 2024
Existing technology	11	$	146,651	$	(48,581)	$	—	$	98,070
Customer relationships	10	21,500		(9,675)		—		11,825
Trademarks and tradenames	10	16,600		(8,759)		(4,122)		3,719
Patents	12	480		(270)		—		210
		$	185,231	$	(67,285)	$	(4,122)	113,824
Foreign currency translation adjustments								2,081
Total intangible assets, net								$	115,905


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2023		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2023
Existing technology	10	$	112,051	$	(45,331)	$	(4,328)	$	62,392
Customer relationships	10	21,500		(8,063)		—		13,437
Trademarks and tradenames	10	16,600		(7,605)		(4,122)		4,873
Patents	8	6,511		(6,082)		—		429
		$	156,662	$	(67,081)	$	(8,450)	81,131
Foreign currency translation adjustments								987
Total intangible assets, net								$	82,118

Of the $146.7 million recorded as Existing technology intangible assets as of September 30, 2024, $47.0 million was acquired during the first quarter of 2024 as part of the Cubicure Acquisition. The existing technology acquired in the Cubicure Acquisition had an estimated useful life of 13 years, which had the effect of increasing the weighted average amortization period from approximately 10 years as of December 31, 2023 to approximately 11 years as of September 30, 2024. Refer to Note 4. “Business Combination”.

The total estimated annual future amortization expense for these acquired intangible assets as of September 30, 2024, is as follows (in thousands):


Fiscal Year Ending December 31,	Amortization
Remainder of 2024	$	4,643
2025	18,574
2026	17,969
2027	15,607
2028	14,505
2029	14,505
Thereafter	28,021
Total	$	113,824

Amortization expense for the three months ended September 30, 2024 and 2023 was $4.6 million and $4.2 million, respectively, and amortization expense for the nine months ended September 30, 2024 and 2023 was $14.2 million and $12.4 million, respectively.

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Stock-based Compensation Expense

The stock-based compensation related to our stock-based awards and employee stock purchase plan for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of net revenues	$	3,070	$	1,974	$	7,716	$	5,682
Selling, general and administrative	34,937		29,739		97,705		87,432

Research and development	11,032		7,889		29,434		22,083
Total stock-based compensation	$	49,039	$	39,602	$	134,855	$	115,197

Summary Of Restricted Stock Units

A summary for the nine months ended September 30, 2024 is as follows:


	Number of Shares Underlying RSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	736	$	367.63
Granted	638	309.22
Vested and released	(254)	370.69
Forfeited	(56)	345.74
Unvested as of September 30, 2024	1,064	$	333.03	1.6	$	270,565

Summary of MSU Performance Activity

The following table summarizes the MSU performance activity for the nine months ended September 30, 2024:


	Number of Shares Underlying MSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	158	$	811.06
Granted	83	617.79
Vested and released 1	(32)	1,102.09
Forfeited	(5)	1,102.09
Unvested as of September 30, 2024	204	$	679.52	1.6	$	51,876

1 Includes MSUs vested during the period below 100% of the original grant as actual shares released is based on Align’s stock performance relative to a market index over the vesting period.

Summary of PSU Performance Activity

The following table summarizes the PSU performance activity for the nine months ended September 30, 2024:


	Number of Shares Underlying PSUs (in thousands)		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	$	5	$	201.63
Granted	6		206.36
Vested and released	—		—
Forfeited	—		—
Unvested as of September 30, 2024	$	11	$	204.33	1.4	$	2,805

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:


	Nine Months Ended September 30,
		2024			2023
Expected term (in years)		1.3			1.2
Expected volatility		49.2		%	56.2		%
Risk-free interest rate		4.6		%	4.9		%
Expected dividends		—			—
Weighted average fair value at grant date		$	94.70		$	133.53

Business Combination - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Jan. 02, 2024	Sep. 30, 2024	Dec. 31, 2023
Existing technology
Business Acquisition [Line Items]
Weighted average amortization period		11 years	10 years
Cubicure
Business Acquisition [Line Items]
Equity interest prior to acquisition	9.04%
Fair value of pre-existing equity interest ownership	$ 7,968
Pre-tax gain on remeasurement	4,100
Settlement of pre-existing relationship - accounts payable	2,316
Goodwill deductible for tax purposes	0
Intangible assets acquired	47,000
Cubicure \| Existing technology
Business Acquisition [Line Items]
Intangible assets acquired	$ 47,000
Weighted average amortization period	13 years

Stockholders' Equity - Stock-Based Compensation Expense Related to All Stock-Based Awards and Employee Stock Purchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 49,039	$ 39,602	$ 134,855	$ 115,197
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	3,070	1,974	7,716	5,682
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	34,937	29,739	97,705	87,432
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 11,032	$ 7,889	$ 29,434	$ 22,083

Restructuring and Other Charges	9 Months Ended
Restructuring and Other Charges	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other ChargesDuring the fourth quarter of 2023, we initiated a restructuring plan to increase efficiencies across the organization and incurred approximately $14.0 million in restructuring expenses, of which $5.3 million remained unpaid and were included in Accrued liabilities as of December 31, 2023. As of September 30, 2024, substantially all restructuring activities initiated in the fourth quarter of 2023 were complete.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 115,963	$ 121,427	$ 317,555	$ 321,039
Other comprehensive income (loss):
Change in foreign currency translation adjustment, net of tax	10,713	(9,822)	14,140	9,810
Change in unrealized gains (losses) on investments, net of tax	159	526	605	2,521
Other comprehensive income (loss)	10,872	(9,296)	14,745	12,331
Comprehensive income	$ 126,835	$ 112,131	$ 332,300	$ 333,370

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill and Intangible Assets - Change in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2023	$ 419,530
Additions from acquisition	47,576
Foreign currency translation adjustments	4,406
Balance as of September 30, 2024	471,512
Clear Aligner
Goodwill [Roll Forward]
Balance as of December 31, 2023	111,086
Additions from acquisition	47,576
Foreign currency translation adjustments	963
Balance as of September 30, 2024	159,625
Systems and Services
Goodwill [Roll Forward]
Balance as of December 31, 2023	308,444
Additions from acquisition	0
Foreign currency translation adjustments	3,443
Balance as of September 30, 2024	$ 311,887

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,041,935	$ 937,438
Marketable securities, short-term	0	35,304
Accounts receivable, net of allowance for doubtful accounts of $19,141 and $14,893, respectively	1,010,601	903,424
Inventories	254,119	296,902
Prepaid expenses and other current assets	290,732	273,550
Total current assets	2,597,387	2,446,618
Marketable securities, long-term	0	8,022
Property, plant and equipment, net	1,290,427	1,290,863
Operating lease right-of-use assets, net	121,079	117,999
Goodwill	471,512	419,530
Intangible assets, net	115,905	82,118
Deferred tax assets	1,569,950	1,590,045
Other assets	199,714	128,682
Total assets	6,365,974	6,083,877
Current liabilities:
Accounts payable	109,035	113,125
Accrued liabilities	574,556	525,780
Deferred revenues	1,380,022	1,427,706
Total current liabilities	2,063,613	2,066,611
Income tax payable	111,558	116,744
Operating lease liabilities	96,435	96,968
Other long-term liabilities	150,014	173,065
Total liabilities	2,421,620	2,453,388
Commitments and contingencies (Note 7 and Note 8)
Stockholders’ equity:
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	0	0
Common stock, $0.0001 par value (200,000 shares authorized; 74,757 and 75,075 issued and outstanding, respectively)	7	7
Additional paid-in capital	1,335,909	1,162,140
Accumulated other comprehensive income (loss), net	35,913	21,168
Retained earnings	2,572,525	2,447,174
Total stockholders’ equity	3,944,354	3,630,489
Total liabilities and stockholders’ equity	$ 6,365,974	$ 6,083,877

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Condensed Balance Sheet Statements, Captions [Line Items]
Net revenues	$ 977,872	$ 960,214	$ 3,003,793	$ 2,905,534
Revenue recognized included in deferred revenue	199,000	$ 178,800	658,200	$ 583,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, remaining performance obligation	$ 1,495,600		$ 1,495,600
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, remaining performance obligation, period of recognition	6 months		6 months
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, remaining performance obligation, period of recognition	5 years		5 years

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Common Stock Repurchase Programs (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Accelerated Share Repurchase Agreements

The following table summarizes the total repurchases of our common stock pursuant to an ASR entered into or completed during the three and nine months ended September 30, 2024 and 2023:


Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share
Q4 2022	May 2021	$	200.0	Q1 2023	984,714	$	203.10
Q1 2023	May 2021	$	250.0	Q1 2023	805,908	$	310.21
Q4 2023	January 2023	$	250.0	Q1 2024	1,086,334	$	230.13

Common Stock Repurchase Programs - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions		9 Months Ended		12 Months Ended
	Jun. 26, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jan. 31, 2023	May 31, 2021
Share Repurchase Program [Line Items]
Amount paid		$ 150,012,000	$ 292,360,000
May 2021 Repurchase Program
Share Repurchase Program [Line Items]
Authorized repurchase amount						$ 1,000,000,000
January 2023 Repurchase Program
Share Repurchase Program [Line Items]
Authorized repurchase amount					$ 1,000,000,000
Common stock repurchased	$ 150,000,000		$ 0	$ 100,000,000
Common stock repurchased (in shares)	0.6
Common stock repurchased, average price (in dollars per share)	$ 250.73
Amount available for repurchase		$ 500,000,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Financial Instruments - Contractual Maturity of Marketable Securities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Investments, All Other Investments [Abstract]
Due in 1 year or less	$ 34,617
Due in 1 year through 5 years	8,709
Total	$ 43,326

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Segments and Geographical Information - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 1,411,506	$ 1,408,862
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	580,428	575,432
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	203,772	210,275
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 627,306	$ 623,155

Business Combination - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jan. 02, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 471,512		$ 419,530
Cubicure
Business Acquisition [Line Items]
Working capital		$ 1,039
Property & equipment		975
Developed technology		47,000
Other non-current asset		1,483
Other liabilities		(12,279)
Goodwill		47,576
Total		$ 85,794

- Definition

+ References

+ Details

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-32259
Entity Registrant Name	ALIGN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3267295
Entity Address, Address Line One	410 North Scottsdale Road, Suite 1300
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85288
City Area Code	602
Local Phone Number	742-2000
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ALGN
Security Exchange Name	NASDAQ
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Central Index Key	0001097149
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		74,653,060

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2024

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

The supplemental cash flow information consists of the following (in thousands):


	Nine Months Ended September 30,
	2024		2023
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	17,631	$	25,979
Final settlement of prior year stock repurchase forward contract	50,000		—
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,854	$	25,559
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	25,422	$	25,048

Restructuring and Other Charges (Details) $ in Millions	3 Months Ended
Restructuring and Other Charges (Details) $ in Millions	Dec. 31, 2023 USD ($)
Restructuring and Related Activities [Abstract]
Restructuring expenses	$ 14.0
Unpaid restructuring charges	$ 5.3

Stockholders' Equity

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

As of September 30, 2024, the Align Technology, Inc. 2005 Incentive Plan, as amended, has a total reserve of 32,168,895 shares, of which 3,398,202 shares are available for issuance.

Summary of Stock-Based Compensation Expense

The stock-based compensation related to our stock-based awards and employee stock purchase plan for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of net revenues	$	3,070	$	1,974	$	7,716	$	5,682
Selling, general and administrative	34,937		29,739		97,705		87,432

Research and development	11,032		7,889		29,434		22,083
Total stock-based compensation	$	49,039	$	39,602	$	134,855	$	115,197

Restricted Stock Units (“RSUs”)

The fair value of RSUs is based on our closing stock price on the date of grant. RSUs granted generally vest over a period of four years. A summary for the nine months ended September 30, 2024 is as follows:


	Number of Shares Underlying RSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	736	$	367.63
Granted	638	309.22
Vested and released	(254)	370.69
Forfeited	(56)	345.74
Unvested as of September 30, 2024	1,064	$	333.03	1.6	$	270,565

As of September 30, 2024, we expect to recognize $254.4 million of total unamortized compensation costs, net of estimated forfeitures, related to RSUs over a weighted average period of 2.7 years.

Market-Performance Based Restricted Stock Units (“MSUs”)

We grant MSUs to members of senior management. Each MSU represents the right to one share of our common stock. The actual number of MSUs which will be eligible to vest will be based on the performance of Align’s stock price relative to the performance of a stock market index over the vesting period. MSUs vest over a period of three years and the maximum number of shares eligible to vest in the future is 250% of the MSUs initially granted.

The following table summarizes the MSU performance activity for the nine months ended September 30, 2024:


	Number of Shares Underlying MSUs (in thousands)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	158	$	811.06
Granted	83	617.79
Vested and released 1	(32)	1,102.09
Forfeited	(5)	1,102.09
Unvested as of September 30, 2024	204	$	679.52	1.6	$	51,876

1 Includes MSUs vested during the period below 100% of the original grant as actual shares released is based on Align’s stock performance relative to a market index over the vesting period.

As of September 30, 2024, we expect to recognize $67.2 million of total unamortized compensation costs, net of estimated forfeitures, related to MSUs over a weighted average period of 1.6 years.

Restricted Stock Units with Performance Conditions (“PSUs”)

Our PSUs typically include a service and performance condition. We recognize share-based compensation expense for PSUs if it is probable that the performance condition will be achieved.

The following table summarizes the PSU performance activity for the nine months ended September 30, 2024:


	Number of Shares Underlying PSUs (in thousands)		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2023	$	5	$	201.63
Granted	6		206.36
Vested and released	—		—
Forfeited	—		—
Unvested as of September 30, 2024	$	11	$	204.33	1.4	$	2,805

As of September 30, 2024, we expect to recognize $1.2 million of total unamortized compensation costs, net of estimated forfeitures, related to PSUs over a weighted average period of 1.4 years.

Employee Stock Purchase Plan

As of September 30, 2024, we have 1,875,920 shares available for future issuance under the Align Technology, Inc. 2010 Employee Stock Purchase Plan (as amended and restated, the “2010 Purchase Plan”).

The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:


	Nine Months Ended September 30,
		2024			2023
Expected term (in years)		1.3			1.2
Expected volatility		49.2		%	56.2		%
Risk-free interest rate		4.6		%	4.9		%
Expected dividends		—			—
Weighted average fair value at grant date		$	94.70		$	133.53

As of September 30, 2024, we expect to recognize $17.1 million of total unamortized compensation costs related to future employee stock purchases over a weighted average period of 0.9 years.

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Subsequent to our quarter end, on October 23, 2024, we announced a restructuring plan to reduce costs by adjusting headcount for the existing business environment. The plan includes a reduction of our total headcount by approximately 700 employees. The costs associated with this action primarily include severance and other one-time post-employment benefits and are currently estimated to be between approximately $25.0 million and $30.0 million. We expect these activities to be substantially completed by the end of fiscal year 2024. Additionally, on October 25, 2024, we announced a plan to repurchase $275.0 million of our common stock through open market repurchases beginning in the fourth quarter of 2024 and continuing through the first quarter of 2025. The number of shares to be repurchased and the average price per share are not determinable as of the filing of this Quarterly Report on Form 10-Q. Upon completion of these open market repurchases the Company will have $225.0 million remaining available for repurchases under the January 2023 Repurchase Program.

Legal Proceedings (Details)	1 Months Ended
Legal Proceedings (Details)	Jun. 30, 2024 USD ($)	Jan. 31, 2019 claim	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)
Loss Contingencies [Line Items]
Accrual for legal settlements			$ 31,100,000
Shareholder derivative lawsuit
Loss Contingencies [Line Items]
Number of lawsuits filed \| claim		3
Potential award				$ 575,000
Antitrust class actions
Loss Contingencies [Line Items]
Settlement amount	$ 27,500,000
Settlement coupon offered	$ 300

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$ 17,631	$ 25,979
Final settlement of prior year stock repurchase forward contract	50	0
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	29,854	25,559
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 25,422	$ 25,048

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 317,555	$ 321,039
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes	17,465	(22,749)
Depreciation and amortization	106,905	108,669
Stock-based compensation	134,855	115,197
Non-cash operating lease cost	28,603	24,034
Impairment of equity investment	115	3,329
Other non-cash operating activities	6,931	28,435
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(135,239)	(80,297)
Inventories	32,304	31,639
Prepaid expenses and other assets	(26,283)	1,773
Accounts payable	(13,283)	(23,130)
Accrued and other long-term liabilities	47,618	156,024
Long-term income tax payable	(5,186)	(7,979)
Deferred revenues	(60,207)	82,894
Net cash provided by operating activities	452,153	738,878
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	(77,075)	0
Purchase of property, plant and equipment	(92,619)	(144,302)
Purchase of marketable securities	0	(2,373)
Proceeds from maturities of marketable securities	25,660	35,754
Proceeds from sales of marketable securities	18,193	5,173
Purchase of equity investments	(75,390)	(76,999)
Other investing activities	235	128
Net cash used in investing activities	(200,996)	(182,619)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	25,281	26,595
Common stock repurchases	(150,012)	(292,360)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net	0	40,000
Payroll taxes paid upon the vesting of equity awards	(27,972)	(22,294)
Net cash used in financing activities	(152,703)	(248,059)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	6,008	(11,205)
Net increase in cash, cash equivalents, and restricted cash	104,462	296,995
Cash, cash equivalents, and restricted cash at beginning of the period	938,519	942,355
Cash, cash equivalents, and restricted cash at end of the period	$ 1,042,981	$ 1,239,350

Business Combination - Fair Value of Consideration Transferred (Details) - Cubicure $ in Thousands	Jan. 02, 2024 USD ($)
Business Acquisition [Line Items]
Cash paid to Cubicure stockholders	$ 80,142
Fair value of pre-existing equity interest ownership	7,968
Settlement of pre-existing relationship - accounts payable	(2,316)
Total purchase consideration paid	$ 85,794

Commitments and Contingencies (Details) - His Majesty's Revenue and Customs (HMRC) - USD ($) $ in Millions	Oct. 31, 2024	Mar. 31, 2024
Income Tax Examination [Line Items]
Cumulative assessments of unpaid value added tax		$ 100.0
Subsequent Event
Income Tax Examination [Line Items]
Refund of assessment	$ 100.0
Potential exposure	$ 7.5

Balance Sheet Components - Warranty Accrual Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 22,426	$ 17,873
Charged to cost of net revenues	14,658	14,329
Actual warranty expenditures	(9,889)	(10,327)
Balance at end of period	$ 27,195	$ 21,875

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Cash and cash equivalents	$ 1,041,935
Cash, cash equivalents and marketable securities		$ 981,569
Gross Unrealized Gains
Cash, cash equivalents and marketable securities		7
Gross Unrealized Losses
Cash, cash equivalents and marketable securities		(812)
Fair Value
Cash and cash equivalents	1,041,935	937,438
Marketable securities		43,326
Cash, cash equivalents and marketable securities		980,764
Cash
Amortized Cost
Cash and cash equivalents	860,461	887,682
Fair Value
Cash and cash equivalents	860,461	887,682
Cash and Cash Equivalents
Fair Value
Cash and cash equivalents	1,041,935
Cash, cash equivalents and marketable securities		937,438
Cash and Cash Equivalents \| Cash
Fair Value
Cash and cash equivalents	860,461	887,682
Marketable securities, short-term
Fair Value
Cash, cash equivalents and marketable securities		35,304
Marketable securities, long-term
Fair Value
Cash, cash equivalents and marketable securities		8,022
Money market funds
Amortized Cost
Cash and cash equivalents	181,474	49,756
Fair Value
Cash and cash equivalents	181,474	49,756
Money market funds \| Cash and Cash Equivalents
Fair Value
Cash and cash equivalents	$ 181,474	49,756
Corporate bonds
Amortized Cost
Marketable securities		31,943
Gross Unrealized Gains
Marketable securities		5
Gross Unrealized Losses
Marketable securities		(676)
Fair Value
Marketable securities		31,272
Corporate bonds \| Marketable securities, short-term
Fair Value
Marketable securities		28,704
Corporate bonds \| Marketable securities, long-term
Fair Value
Marketable securities		2,568
U.S. government treasury bonds
Amortized Cost
Marketable securities		4,855
Gross Unrealized Gains
Marketable securities		0
Gross Unrealized Losses
Marketable securities		(99)
Fair Value
Marketable securities		4,756
U.S. government treasury bonds \| Marketable securities, short-term
Fair Value
Marketable securities		0
U.S. government treasury bonds \| Marketable securities, long-term
Fair Value
Marketable securities		4,756
Asset-backed securities
Amortized Cost
Marketable securities		1,416
Gross Unrealized Gains
Marketable securities		2
Gross Unrealized Losses
Marketable securities		(1)
Fair Value
Marketable securities		1,417
Asset-backed securities \| Marketable securities, short-term
Fair Value
Marketable securities		719
Asset-backed securities \| Marketable securities, long-term
Fair Value
Marketable securities		698
Municipal bonds
Amortized Cost
Marketable securities		702
Gross Unrealized Gains
Marketable securities		0
Gross Unrealized Losses
Marketable securities		(2)
Fair Value
Marketable securities		700
Municipal bonds \| Marketable securities, short-term
Fair Value
Marketable securities		700
Municipal bonds \| Marketable securities, long-term
Fair Value
Marketable securities		0
U.S. government agency bonds
Amortized Cost
Marketable securities		5,215
Gross Unrealized Gains
Marketable securities		0
Gross Unrealized Losses
Marketable securities		(34)
Fair Value
Marketable securities		5,181
U.S. government agency bonds \| Marketable securities, short-term
Fair Value
Marketable securities		5,181
U.S. government agency bonds \| Marketable securities, long-term
Fair Value
Marketable securities		$ 0

Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share Basic And Diluted

The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	115,963	$	121,427	$	317,555	$	321,039
Denominator:
Weighted average common shares outstanding, basic	74,736		76,569		75,031		76,670
Dilutive effect of potential common stock	21		257		118		179
Total shares, diluted	74,757		76,826		75,149		76,849

Net income per share, basic	$	1.55	$	1.59	$	4.23	$	4.19
Net income per share, diluted	$	1.55	$	1.58	$	4.23	$	4.18

Anti-dilutive potential common shares 1	1,173		245		689		263

1 Represents approximately 1,169.7 thousand RSU and 3.1 thousand ESPP weighted-average outstanding common stock equivalent shares for the three months ended September 30, 2024 and approximately 687.7 thousand RSU and 0.8 thousand ESPP weighted-average outstanding common stock equivalent shares for the nine months ended September 30, 2024 that are excluded from the calculation of diluted net income per share as the effect would have been anti-dilutive. For the three and nine months ended September 30, 2023 all anti-dilutive shares were RSUs.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net revenues	$ 977,872	$ 960,214	$ 3,003,793	$ 2,905,534
Cost of net revenues	296,098	297,138	901,575	868,195
Gross profit	681,774	663,076	2,102,218	2,037,339
Operating expenses:
Selling, general and administrative	434,138	407,992	1,338,222	1,300,876
Research and development	85,272	88,738	269,324	264,670
Legal settlement loss	66	0	31,193	0
Total operating expenses	519,476	496,730	1,638,739	1,565,546
Income from operations	162,298	166,346	463,479	471,793
Interest income	4,003	5,522	11,696	12,280
Other income (expense), net	(371)	(9,757)	(6,993)	(15,749)
Total interest income and other income (expense), net	3,632	(4,235)	4,703	(3,469)
Net income before provision for income taxes	165,930	162,111	468,182	468,324
Provision for income taxes	49,967	40,684	150,627	147,285
Net income	$ 115,963	$ 121,427	$ 317,555	$ 321,039
Net income per share:
Basic (in usd per share)	$ 1.55	$ 1.59	$ 4.23	$ 4.19
Diluted (in usd per share)	$ 1.55	$ 1.58	$ 4.23	$ 4.18
Shares used in computing net income per share:
Basic (in shares)	74,736	76,569	75,031	76,670
Diluted (in shares)	74,757	76,826	75,149	76,849

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Value added tax receivables	$ 148,903	$ 143,728
Prepaid expenses	72,985	52,487
Other current assets	68,844	77,335
Total prepaid expenses and other current assets	$ 290,732	$ 273,550

Financial Instruments - Unrealized Losses for Investments in a Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	$ 7,065
12 months or greater, fair value	32,612
Fair value	39,677
Less than 12 months, unrealized loss	(23)
12 months or greater, unrealized loss	(789)
Unrealized loss	(812)
Corporate bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0
12 months or greater, fair value	27,939
Fair value	27,939
Less than 12 months, unrealized loss	0
12 months or greater, unrealized loss	(676)
Unrealized loss	(676)
U.S. government treasury bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	2,044
12 months or greater, fair value	2,712
Fair value	4,756
Less than 12 months, unrealized loss	(11)
12 months or greater, unrealized loss	(88)
Unrealized loss	(99)
Asset-backed securities
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	1,018
12 months or greater, fair value	83
Fair value	1,101
Less than 12 months, unrealized loss	(1)
12 months or greater, unrealized loss	0
Unrealized loss	(1)
Municipal bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0
12 months or greater, fair value	700
Fair value	700
Less than 12 months, unrealized loss	0
12 months or greater, unrealized loss	(2)
Unrealized loss	(2)
U.S. government agency bonds
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]
Less than 12 months, fair value	4,003
12 months or greater, fair value	1,178
Fair value	5,181
Less than 12 months, unrealized loss	(11)
12 months or greater, unrealized loss	(23)
Unrealized loss	$ (34)

Segments and Geographical Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Balance Sheet Components - Deferred Revenues (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Deferred revenues - current	$ 1,380,022	$ 1,427,706
Deferred revenues - long-term	$ 108,676	$ 138,000

Credit Facility	9 Months Ended
Credit Facility	Sep. 30, 2024
Debt Disclosure [Abstract]
Credit Facility	Credit Facility We have a credit facility that provides for a $300.0 million unsecured revolving line of credit, along with a $50.0 million letter of credit. On December 23, 2022, we amended certain provisions in our credit facility which included extending the maturity date on the facility to December 23, 2027 and replacing the interest rate from the existing LIBOR with SOFR (“2022 Credit Facility”). The 2022 Credit Facility requires us to comply with specific financial conditions and performance requirements. Loans under the 2022 Credit Facility bear interest, at our option, at either a rate based on the SOFR for the applicable interest period or a base rate, in each case plus a margin. As of September 30, 2024, we had no outstanding borrowings under the 2022 Credit Facility and were in compliance with the conditions and performance requirements in all material respects.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)(3)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1B
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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+ Details

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 185,231	$ 156,662
Accumulated Amortization	(67,285)	(67,081)
Accumulated Impairment Loss	(4,122)	(8,450)
Net carrying value	113,824	81,131
Foreign currency translation adjustments	2,081	987
Total intangible assets	$ 115,905	$ 82,118
Existing technology
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	11 years	10 years
Gross carrying amount	$ 146,651	$ 112,051
Accumulated Amortization	(48,581)	(45,331)
Accumulated Impairment Loss	0	(4,328)
Net carrying value	$ 98,070	$ 62,392
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	10 years	10 years
Gross carrying amount	$ 21,500	$ 21,500
Accumulated Amortization	(9,675)	(8,063)
Accumulated Impairment Loss	0	0
Net carrying value	$ 11,825	$ 13,437
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	10 years	10 years
Gross carrying amount	$ 16,600	$ 16,600
Accumulated Amortization	(8,759)	(7,605)
Accumulated Impairment Loss	(4,122)	(4,122)
Net carrying value	$ 3,719	$ 4,873
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period	12 years	8 years
Gross carrying amount	$ 480	$ 6,511
Accumulated Amortization	(270)	(6,082)
Accumulated Impairment Loss	0	0
Net carrying value	$ 210	$ 429

Stockholders' Equity - Narrative (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Incentive Plan 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	32,168,895
Shares available for issuance	3,398,202
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance	1,875,920
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Total unamortized compensation cost \| $	$ 254.4
Weighted average period of total unamortized cost (in years)	2 years 8 months 12 days
Granted (in shares)	638,000
Granted (in usd per share) \| $ / shares	$ 309.22
MSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total unamortized compensation cost \| $	$ 67.2
Weighted average period of total unamortized cost (in years)	1 year 7 months 6 days
Maximum percentage of market-performance based restricted stock units eligible to vest over the vesting period	250.00%
Granted (in shares)	83,000
Granted (in usd per share) \| $ / shares	$ 617.79
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unamortized compensation cost \| $	$ 1.2
Weighted average period of total unamortized cost (in years)	1 year 4 months 24 days
Granted (in shares)	6,000
Granted (in usd per share) \| $ / shares	$ 206.36
Employee stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unamortized compensation cost \| $	$ 17.1
Weighted average period of total unamortized cost (in years)	10 months 24 days

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Notes To Financial Statements [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Align Technology, Inc. (“we”, “our”, the "Company", or “Align”) on a consistent basis with the audited Consolidated Financial Statements for the year ended December 31, 2023, and contain all adjustments, including normal recurring adjustments, necessary to fairly state the information set forth herein. These unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), and, therefore, omit certain information and footnote disclosures necessary to present the unaudited Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and notes thereto included in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or any other future period, and we make no representations related thereto.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates and assumptions, including those that impact revenue recognition, long-lived and intangible assets, goodwill, income taxes, contingent liabilities, the fair values of financial instruments, stock-based compensation and the valuation of investments in privately held companies, among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities, as well as the reported amounts of revenues and expenses.
Certain Risk and Uncertainties	Certain Risks and Uncertainties We are subject to risks including, but not limited to, global and regional economic market conditions, inflation, fluctuations in foreign currency exchange rates, changes in consumer confidence and demand, increased competition, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration (“FDA”) and similar international agencies. Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose us to concentrations of credit risk consist primarily of cash equivalents and marketable securities. Historically, we have invested excess cash primarily in money market funds, corporate bonds, asset-backed securities, municipal and U.S. government agency bonds and treasury bonds. We periodically evaluate our investments for credit losses. Such credit losses have not been material to our financial statements. We purchase certain inventory from sole suppliers. Additionally, we rely on a limited number of hardware manufacturers. The inability of any supplier or manufacturer to fulfill our supply requirements could materially and adversely impact our future operating results.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Effective On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures.” The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies must apply the guidance retrospectively to all prior periods presented in the financial statements. The Company expects this pronouncement may result in changes to the nature of our reportable segment disclosures. On December 14, 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements.

Financial Instruments - Fair Value Measured On A Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments	$ 0	$ 35,304
Long-term investments	0	8,022
Assets measured at fair value	181,474	93,082
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	181,474	49,756
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	0	43,326
U.S. government agency bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		5,181
U.S. government agency bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		0
U.S. government agency bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		5,181
U.S. government treasury bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term investments		4,756
U.S. government treasury bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term investments		0
U.S. government treasury bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Long-term investments		4,756
Corporate bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		28,704
Long-term investments		2,568
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		0
Long-term investments		0
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		28,704
Long-term investments		2,568
Municipal bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		700
Municipal bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		0
Municipal bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		700
Asset-backed securities \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		719
Long-term investments		698
Asset-backed securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		0
Long-term investments		0
Asset-backed securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Short-term investments		719
Long-term investments		698
Money market funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	181,474	49,756
Money market funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	181,474	49,756
Money market funds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Apr. 22, 2024	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Accounts receivable sold	$ 8.2	$ 24.2	$ 34.2	$ 40.4
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gains (losses) on derivatives	(24.5)	$ 19.8	2.7	$ 14.4
Derivative, fair value	$ 0.0		$ 0.0			$ 0.0
Heartland
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity interest percentage (less than)					5.00%
Acquisition of equity interest					$ 150.0

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Notes To Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Preparation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Align Technology, Inc. (“we”, “our”, the "Company", or “Align”) on a consistent basis with the audited Consolidated Financial Statements for the year ended December 31, 2023, and contain all adjustments, including normal recurring adjustments, necessary to fairly state the information set forth herein. These unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), and, therefore, omit certain information and footnote disclosures necessary to present the unaudited Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and notes thereto included in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024 or any other future period, and we make no representations related thereto. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates and assumptions, including those that impact revenue recognition, long-lived and intangible assets, goodwill, income taxes, contingent liabilities, the fair values of financial instruments, stock-based compensation and the valuation of investments in privately held companies, among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities, as well as the reported amounts of revenues and expenses. Certain Risks and Uncertainties We are subject to risks including, but not limited to, global and regional economic market conditions, inflation, fluctuations in foreign currency exchange rates, changes in consumer confidence and demand, increased competition, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration (“FDA”) and similar international agencies. Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose us to concentrations of credit risk consist primarily of cash equivalents and marketable securities. Historically, we have invested excess cash primarily in money market funds, corporate bonds, asset-backed securities, municipal and U.S. government agency bonds and treasury bonds. We periodically evaluate our investments for credit losses. Such credit losses have not been material to our financial statements. We purchase certain inventory from sole suppliers. Additionally, we rely on a limited number of hardware manufacturers. The inability of any supplier or manufacturer to fulfill our supply requirements could materially and adversely impact our future operating results. Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Effective On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures.” The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. Companies must apply the guidance retrospectively to all prior periods presented in the financial statements. The Company expects this pronouncement may result in changes to the nature of our reportable segment disclosures. On December 14, 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures.” The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements.

Subsequent Event (Details) $ in Millions	Oct. 23, 2024 USD ($) employee	Mar. 31, 2025 USD ($)	Oct. 25, 2024 USD ($)
Forecast
Subsequent Event [Line Items]
Remaining available for repurchases		$ 225.0
Subsequent Event
Subsequent Event [Line Items]
Reduction to headcount \| employee	700
Authorized repurchase amount			$ 275.0
Subsequent Event \| Minimum
Subsequent Event [Line Items]
Estimated restructuring cost	$ 25.0
Subsequent Event \| Maximum
Subsequent Event [Line Items]
Estimated restructuring cost	$ 30.0

Common Stock Repurchase Programs - Accelerated Share Repurchase Agreements (Details) - USD ($)		3 Months Ended		9 Months Ended
	Jun. 26, 2024	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Jan. 31, 2023	May 31, 2021
Share Repurchase Program [Line Items]
Amount paid				$ 150,012,000	$ 292,360,000
May 2021 Repurchase Program
Share Repurchase Program [Line Items]
Authorized repurchase amount							$ 1,000,000,000
May 2021 Repurchase Program \| Q4 2022
Share Repurchase Program [Line Items]
Amount paid			$ 200,000,000.0
Total shares received (in shares)			984,714
Average price per share (in dollars per share)			$ 203.10
May 2021 Repurchase Program \| Q1 2023
Share Repurchase Program [Line Items]
Amount paid			$ 250,000,000.0
Total shares received (in shares)			805,908
Average price per share (in dollars per share)			$ 310.21
January 2023 Repurchase Program
Share Repurchase Program [Line Items]
Average price per share (in dollars per share)	$ 250.73
Authorized repurchase amount						$ 1,000,000,000
January 2023 Repurchase Program \| Q4 2023
Share Repurchase Program [Line Items]
Amount paid		$ 250,000,000.0
Total shares received (in shares)		1,086,334
Average price per share (in dollars per share)		$ 230.13

Segments and Geographical Information - Net Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 977,872	$ 960,214	$ 3,003,793	$ 2,905,534
U.S.
Segment Reporting Information [Line Items]
Net revenues	421,204	421,272	1,291,838	1,262,008
Switzerland
Segment Reporting Information [Line Items]
Net revenues	216,638	259,587	739,342	913,724
Other International
Segment Reporting Information [Line Items]
Net revenues	$ 340,030	$ 279,355	$ 972,613	$ 729,802

- Definition

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Net Income Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Income Per Share

Net Income per Share

The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	115,963	$	121,427	$	317,555	$	321,039
Denominator:
Weighted average common shares outstanding, basic	74,736		76,569		75,031		76,670
Dilutive effect of potential common stock	21		257		118		179
Total shares, diluted	74,757		76,826		75,149		76,849

Net income per share, basic	$	1.55	$	1.59	$	4.23	$	4.19
Net income per share, diluted	$	1.55	$	1.58	$	4.23	$	4.18

Anti-dilutive potential common shares 1	1,173		245		689		263

Business Combination (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Fair Value of Consideration Transferred

The fair value of consideration transferred in the acquisition is shown in the table below (in thousands):


Cash paid to Cubicure stockholders	$	80,142
Fair value of pre-existing equity interest ownership	7,968
Settlement of pre-existing relationship - accounts payable	(2,316)
Total purchase consideration paid	$	85,794

Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The allocation of the purchase price to the assets acquired and liabilities assumed is as follows (in thousands):


Working capital	$	1,039
Property & equipment	975
Developed technology	47,000
Other non-current asset	1,483
Other liabilities	(12,279)
Goodwill	47,576
Total	$	85,794

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 19,141	$ 14,893
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	74,757,000	75,075,000
Common stock, shares outstanding	74,757,000	75,075,000

Balance Sheet Components

9 Months Ended

Sep. 30, 2024

Notes To Financial Statements [Abstract]

Balance Sheet Components

Inventories consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Raw materials	$	126,959	$	145,492
Work in process	77,174		91,259
Finished goods	49,986		60,151
Total inventories	$	254,119	$	296,902

Prepaid expenses and other current assets consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Value added tax receivables	$	148,903	$	143,728
Prepaid expenses	72,985		52,487
Other current assets	68,844		77,335
Total prepaid expenses and other current assets	$	290,732	$	273,550

Accrued liabilities consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Accrued payroll and benefits	$	241,638	$	220,862
Accrued expenses	74,158		71,109
Accrued sales and marketing expenses	38,152		34,035
Accrued income taxes	36,860		38,103
Current operating lease liabilities	31,168		29,651
Accrued property, plant and equipment	11,132		23,618

Other accrued liabilities	141,448		108,402
Total accrued liabilities	$	574,556	$	525,780

Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands):


	Nine Months Ended September 30,
	2024		2023
Balance at beginning of period	$	22,426	$	17,873
Charged to cost of net revenues	14,658		14,329
Actual warranty expenditures	(9,889)		(10,327)
Balance at end of period	$	27,195	$	21,875

Deferred revenues consist of the following (in thousands):


	September 30, 2024		December 31, 2023
Deferred revenues - current	$	1,380,022	$	1,427,706
Deferred revenues - long-term 1	$	108,676	$	138,000

1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheets.

During the three months ended September 30, 2024 and 2023, we recognized $977.9 million and $960.2 million of net revenues, respectively, of which $199.0 million and $178.8 million was included in the deferred revenues balance at December 31, 2023 and 2022, respectively.

During the nine months ended September 30, 2024 and 2023, we recognized $3,003.8 million and $2,905.5 million of net revenues, respectively, of which $658.2 million and $583.5 million was included in the deferred revenues balance at December 31, 2023 and 2022, respectively.

Our unfulfilled performance obligations, including deferred revenues and backlog, as of September 30, 2024 were $1,495.6 million. These performance obligations are expected to be fulfilled over the next six months to five years.

Common Stock Repurchase Programs

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Common Stock Repurchase Programs

In May 2021, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“May 2021 Repurchase Program”), which was completed in March 2023. In January 2023, our Board of Directors authorized a new plan to repurchase up to $1.0 billion of our common stock (“January 2023 Repurchase Program”). The January 2023 Repurchase Program does not have an expiration date.

Accelerated Share Repurchase Agreements (“ASRs”)

The following table summarizes the total repurchases of our common stock pursuant to an ASR entered into or completed during the three and nine months ended September 30, 2024 and 2023:


Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share
Q4 2022	May 2021	$	200.0	Q1 2023	984,714	$	203.10
Q1 2023	May 2021	$	250.0	Q1 2023	805,908	$	310.21
Q4 2023	January 2023	$	250.0	Q1 2024	1,086,334	$	230.13

Open Market Common Stock Repurchases

On June 3, 2024, we initiated a plan to repurchase $150.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program. This plan was completed on June 26, 2024. In total, we repurchased approximately 0.6 million shares of our common stock at an average price of $250.73 per share, including commissions and fees.

During the twelve months ended December 31, 2023, we repurchased $100.0 million of our common stock through open market repurchases under the January 2023 Repurchase Program, none of which occurred during the nine months ended September 30, 2023.

As of September 30, 2024, $500.0 million remains available for repurchases under the January 2023 Repurchase Program.

Business Combination

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Combination

On January 2, 2024 (the “Cubicure Acquisition Date”), we completed the acquisition of privately-held Cubicure GmbH (“Cubicure”) (the “Cubicure Acquisition”). Cubicure is an Austrian company and specializes in direct 3D printing solutions for polymer additive manufacturing that develops, produces, and distributes innovative materials, equipment, and processes for 3D printing solutions. The Cubicure Acquisition is intended to support and scale our strategic innovation roadmap and strengthen the Align Digital Platform. In fiscal year 2021, we acquired a 9.04% equity interest in Cubicure. Subsequently, on the Cubicure Acquisition Date, we acquired the remaining equity of Cubicure. Prior to the acquisition, we also had technology license and joint development agreements with Cubicure.

The fair value of consideration transferred in the acquisition is shown in the table below (in thousands):


Cash paid to Cubicure stockholders	$	80,142
Fair value of pre-existing equity interest ownership	7,968
Settlement of pre-existing relationship - accounts payable	(2,316)
Total purchase consideration paid	$	85,794

The Cubicure Acquisition was accounted for as a business combination under ASC Topic 805, Business Combinations (“ASC 805”) that was achieved in stages. As a result of the Cubicure Acquisition, we remeasured our pre-existing equity interest in Cubicure at fair value prior to the Cubicure Acquisition. Based on the fair value of this equity interest, derived from the purchase price, we estimated the fair value of our 9.04% pre-existing investment in Cubicure to be approximately $8.0 million. The remeasurement resulted in the recognition of a pre-tax gain of $4.1 million, which was reflected as a component of Other income (expense), net within our Condensed Consolidated Statement of Operations.

In 2021, we initiated Joint development (“JDA”) and Technology license agreements (“TLA”) to provide us with access to Cubicure's technology. The settlement of the JDA and TLA were concluded to be at market terms on the Cubicure Acquisition Date; therefore, no gain or loss was recorded related to the settlement of these contracts. We also had accounts payable from the pre-existing arrangements with Cubicure of $2.3 million, which were effectively settled and reduced from the purchase consideration of the Cubicure Acquisition.

The allocation of the purchase price to the assets acquired and liabilities assumed is as follows (in thousands):


Working capital	$	1,039
Property & equipment	975
Developed technology	47,000
Other non-current asset	1,483
Other liabilities	(12,279)
Goodwill	47,576
Total	$	85,794

Goodwill represents the excess of the purchase price over the fair value of the underlying net tangible and identifiable intangible assets, and represents the value associated with future technology, future customer relationships, and the knowledge and experience of the workforce in place. None of this goodwill is deductible for tax purposes. We allocated all goodwill to our Clear Aligner reporting unit.

As part of the Cubicure Acquisition we acquired a developed technology intangible asset. The acquired developed technology had an estimated fair value of $47.0 million as of the Cubicure Acquisition Date and will be amortized over a useful life of thirteen years.

The fair value of developed technology was estimated under the Multi-Period Excess Earnings Method and the fair value estimates for developed technology include significant assumptions in the prospective financial information which include, but are not limited to, projected future cash flows associated with the technology, the asset's life cycle and the present value factor.

Acquisition related costs are recognized separately from the business combination and are expensed as incurred. Acquisition related costs were not material.

Our consolidated financial statements include the operating results of Cubicure from the Cubicure Acquisition Date. Separate post-acquisition operating results and pro forma results of operations for this acquisition have not been presented as the effect is not material to our consolidated financial results.