0001097149-26-000014 | 10-K | XBRL Viewer

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Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
Net operating loss and capital loss carryforwards	$ 1,683	$ 2,741
Reserves and accruals	61,496	67,221
Stock-based compensation	30,975	29,255
Deferred revenue	140,486	146,509
Capitalized research & development	23,021	32,027
Amortizable tax basis in intangibles	1,283,968	1,301,338
Other	649	12,282
Deferred tax assets before valuation allowance	1,542,278	1,591,373
Valuation allowance	(11,498)	(19,390)
Total deferred tax assets	1,530,780	1,571,983
Deferred tax liabilities:
Depreciation and amortization	11,610	16,485
Acquisition-related intangibles	16,357	28,868
Other	14,426	4,511
Total deferred tax liabilities	42,393	49,864
Net deferred tax assets	$ 1,488,387	$ 1,522,119

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Foreign Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer contributions amount	$ 59.9	$ 57.4	$ 55.1
401k Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer matching contribution as percentage of employee's salary deferral contributions	50.00%
Employer matching contribution as percentage of employee's eligible compensation	6.00%
401k Plan \| U.S.
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer contributions amount	$ 9.7	$ 10.0	$ 9.5

Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 107,296	$ 124,377
Finished goods	65,679	73,660
Work in process	53,368	56,250
Total inventories	$ 226,343	$ 254,287

Segments and Geographical Information - Segments Information - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 4,034,964	$ 3,999,012	$ 3,862,260
Cost of net revenues	1,323,951	1,199,853	1,155,397
Gross profit	2,711,013	2,799,159	2,706,863
Total operating expenses	2,165,258	2,191,531	2,063,525
Segment income from operations	545,755	607,628	643,338
Stock-based compensation	185,870	173,703	154,026
Depreciation and amortization	237,436	145,034	142,401
Operating Segments
Segment Reporting Information [Line Items]
Segment income from operations	1,340,881	1,411,426	1,373,612
Unallocated corporate expense
Segment Reporting Information [Line Items]
Total operating expenses	795,126	803,798	730,274
Segment income from operations	(795,126)	(803,798)	(730,274)
Stock-based compensation	160,462	149,220	138,770
Depreciation and amortization	46,358	46,586	46,102
Clear Aligner \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	3,245,404	3,230,122	3,199,329
Cost of net revenues	1,058,893	952,136	911,291
Gross profit	2,186,511	2,277,986	2,288,038
Total operating expenses	1,151,720	1,135,782	1,105,781
Segment income from operations	1,034,791	1,142,204	1,182,257
Stock-based compensation	23,883	22,888	13,963
Depreciation and amortization	151,565	67,450	64,781
Systems and Services \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	789,560	768,890	662,931
Cost of net revenues	265,058	247,717	244,106
Gross profit	524,502	521,173	418,825
Total operating expenses	218,412	251,951	227,470
Segment income from operations	306,090	269,222	191,355
Stock-based compensation	1,525	1,595	1,293
Depreciation and amortization	$ 39,513	$ 30,998	$ 31,518

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 410,351	$ 421,362	$ 445,053
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes	33,085	25,756	(18,642)
Depreciation and amortization	237,436	145,034	142,401
Stock-based compensation	185,870	173,703	154,026
Non-cash operating lease cost	39,742	38,438	33,107
Impairment loss on Assets held for sale	23,142	0	0
Impairment and fair value adjustments for equity investments	(18,074)	(5,885)	4,990
Other non-cash operating activities	37,686	12,256	32,733
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(139,909)	(153,487)	(104,614)
Inventories	808	25,053	30,169
Prepaid expenses and other assets	13,431	67,527	(51,013)
Accounts payable	5,330	(843)	(7,703)
Accrued and other long-term liabilities	(95,654)	89,705	46,327
Long-term income tax payable	(28,265)	(20,279)	(7,772)
Deferred revenues	(111,756)	(80,109)	86,714
Net cash provided by operating activities	593,223	738,231	785,776
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	0	(77,075)	0
Purchase of property, plant and equipment	(102,445)	(115,580)	(177,716)
Purchase of marketable securities	0	0	(2,910)
Proceeds from maturities of marketable securities	0	25,660	55,170
Proceeds from sales of marketable securities	0	18,193	6,234
Purchase of equity investments	(10,000)	(106,345)	(76,999)
Other investing activities	0	235	278
Net cash used in investing activities	(112,445)	(254,912)	(195,943)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	21,749	25,281	26,595
Common stock repurchases, net of excise tax	(465,939)	(352,878)	(592,360)
Activity for equity forward contracts related to accelerated stock repurchase agreements, net	0	0	(10,000)
Payroll taxes paid upon the vesting of equity awards	(20,390)	(28,125)	(22,575)
Net cash used in financing activities	(464,580)	(355,722)	(598,340)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	35,025	(21,153)	4,671
Net (decrease) increase in cash, cash equivalents, and restricted cash	51,223	106,444	(3,836)
Cash, cash equivalents, and restricted cash at beginning of year	1,044,963	938,519	942,355
Cash, cash equivalents, and restricted cash at end of year	$ 1,096,186	$ 1,044,963	$ 938,519

Credit Facility (Details) - 2022 Credit Facility $ in Millions	Dec. 31, 2025 USD ($)
Revolving line of credit
Line of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 300.0
Letter of credit
Line of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 50.0

Stockholders' Equity - Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 185,870	$ 173,703	$ 154,026
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	6,177	6,995	7,462
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	132,362	123,979	115,992
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 47,331	$ 42,729	$ 30,572

Business Combination

12 Months Ended

Dec. 31, 2025

Business Combination [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 Consolidated Statements 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 purchase price to 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, the projected future cash flows associated with the technology, the asset's life cycle and a 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.

- Definition

The entire disclosure for business combination.

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+ Details

Business Combination - Fair Value of Consideration Transferred (Details) - Cubicure $ in Thousands	Jan. 02, 2024 USD ($)
Business Combination [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

- Definition

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+ Details

Net Income per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Net Income per Share

Basic net income per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes RSUs, MSUs, PSUs and our ESPP.

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):


	Year Ended December 31,
	2025		2024		2023
Numerator:
Net income	$	410,351	$	421,362	$	445,053
Denominator:
Weighted average common shares outstanding, basic	72,542		74,877		76,426
Dilutive effect of potential common stock	46		116		142
Total shares, diluted	72,588		74,993		76,568

Net income per share, basic	$	5.66	$	5.63	$	5.82
Net income per share, diluted	$	5.65	$	5.62	$	5.81

Anti-dilutive potential common shares 1	1,239		685		293

1 Represents approximately 1,238 thousand RSU and 1 thousand ESPP weighted-average outstanding common stock equivalent shares for the year ended December 31, 2025, approximately 685 thousand RSU shares for the year ended December 31, 2024, and approximately 263 thousand RSU and 30 thousand ESPP weighted-average outstanding common stock equivalent shares for the year ended December 31, 2023 that are excluded from the calculation of diluted net income per share as the effect would have been anti-dilutive.

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]
Taxes paid	$ 134,753	$ 177,082	$ 294,569
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	16,592	18,974	32,280
Final settlement of prior year stock repurchase forward contract	0	50,000	40,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	39,856	39,526	33,714
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 22,291	$ 32,671	$ 27,901

Goodwill and Intangible Assets - Total Estimated Annual Future Amortization Expense for the Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 17,922
2027	15,607
2028	14,505
2029	14,505
2030	6,328
Thereafter	21,693
Total	$ 90,560	$ 109,257

Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2025

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):


	Year Ended December 31,
	2025		2024		2023
Numerator:
Net income	$	410,351	$	421,362	$	445,053
Denominator:
Weighted average common shares outstanding, basic	72,542		74,877		76,426
Dilutive effect of potential common stock	46		116		142
Total shares, diluted	72,588		74,993		76,568

Net income per share, basic	$	5.66	$	5.63	$	5.82
Net income per share, diluted	$	5.65	$	5.62	$	5.81

Anti-dilutive potential common shares 1	1,239		685		293

Financial Instruments - Fair Value Measured On A Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	$ 324,857	$ 291,464
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets measured at fair value	324,857	291,464
Money market funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	308,940	291,464
Money market funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	308,940	$ 291,464
Certificates of deposit \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	15,917
Certificates of deposit \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash equivalents	$ 15,917

Balance Sheet Components - Warranty Accrual Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 31,211	$ 22,426
Charged to cost of revenues	5,333	21,962
Actual warranty expenditures	(12,133)	(13,177)
Balance at end of period	$ 24,411	$ 31,211

Segments and Geographical Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2025 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Balance Sheet Components

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Inventories consist of the following (in thousands):


	December 31,
	2025		2024
Raw materials	$	107,296	$	124,377
Work in process	65,679		73,660
Finished goods	53,368		56,250
Total inventories	$	226,343	$	254,287

During the year ended December 31, 2025, we recognized an impairment loss on inventory of $14.9 million to adjust our inventory balance to its net realizable value. This loss was recorded in Cost of net revenues in our Consolidated Statements of Operations.

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


	December 31,
	2025		2024
Value added tax receivables 1	$	55,819	$	34,028
Prepaid expenses	62,478		82,978
Other current assets	47,274		81,576
Total prepaid expenses and other current assets	$	165,571	$	198,582

1 Refer to Note 9 “Commitments and Contingencies” of the Notes to Consolidated Financial Statements for discussion of tax matter.

Property, plant and equipment, net consist of the following (in thousands):


		December 31,
	Generally Used Estimated Useful Life	2025		2024
Clinical and manufacturing equipment	Up to 13 years	$	848,473	$	871,827
Building	20 years	524,608		529,716
Leasehold improvements	Lease term 1	67,402		62,172
Computer software and hardware	3 years	120,608		135,756
Land	—	57,868		63,875
Furniture, fixtures and other	2-5 years	151,874		135,816
Construction in progress	—	127,944		133,684
Total		1,898,777		1,932,846
Less: Accumulated depreciation and impairment charges		(767,324)		(661,712)
Total property, plant and equipment, net		$	1,131,453	$	1,271,134

1 Shorter of the remaining lease term or the estimated useful lives of the assets.

Depreciation was $218.6 million, $126.2 million and $126.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. Depreciation expense in 2025 includes $76.9 million of accelerated depreciation, as discussed in Note 1 “Summary of Significant Accounting Policies."

Accrued liabilities consist of the following (in thousands):


	December 31,
	2025		2024
Accrued payroll and benefits	$	226,149	$	248,003
Accrued expenses	61,049		66,391
Accrued income taxes	44,049		48,808
Current operating lease liabilities	31,939		31,063
Accrued sales and marketing expenses	29,941		37,617
Accrued property, plant and equipment	10,469		13,462

Other accrued liabilities	133,153		152,844
Total accrued liabilities	$	536,749	$	598,188

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


Balance as of December 31, 2023	$	22,426
Charged to cost of net revenues	21,962

Actual warranty expenditures	(13,177)
Balance as of December 31, 2024	31,211
Charged to cost of net revenues	5,333
Actual warranty expenditures	(12,133)
Balance as of December 31, 2025	$	24,411

Deferred revenues consist of the following (in thousands):


	December 31,
	2025		2024
Deferred revenues - current	$	1,261,816	$	1,331,146
Deferred revenues - long-term 1	85,543		102,164

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

During the years ended December 31, 2025 and 2024, we recognized $4,035.0 million and $3,999.0 million of net revenues, respectively, of which $840.5 million and $819.0 million was included in the deferred revenues balance at December 31, 2024 and 2023, respectively.

Business Combination (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination [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 purchase price to 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

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Segments and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Summarized Financial Information and Non-Cash Expenses

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


	Year Ended December 31,
	2025		2024		2023
Net revenues

Clear Aligner	$	3,245,404	$	3,230,122	$	3,199,329
Systems and Services	789,560		768,890		662,931



Total net revenues	$	4,034,964	$	3,999,012	$	3,862,260
Cost of net revenues1
Clear Aligner	$	1,058,893	$	952,136	$	911,291
Systems and Services	265,058		247,717		244,106
Total cost of goods sold	$	1,323,951	$	1,199,853	$	1,155,397
Gross profit
Clear Aligner	$	2,186,511	$	2,277,986	$	2,288,038
Systems and Services	524,502		521,173		418,825
Total gross profit	$	2,711,013	$	2,799,159	$	2,706,863
Other Segment expenses
Clear Aligner	$	1,151,720	$	1,135,782	$	1,105,781
Systems and Services	218,412		251,951		227,470
Unallocated corporate expenses	795,126		803,798		730,274
Total operating expenses	$	2,165,258	$	2,191,531	$	2,063,525
Segment income from operations
Clear Aligner	$	1,034,791	$	1,142,204	$	1,182,257
Systems and Services	306,090		269,222		191,355

Total segment income from operations	$	1,340,881	$	1,411,426	$	1,373,612

1 Management has identified Cost of net revenues as a significant expense for our Clear Aligner and Systems and Services reportable segments.

The following table includes certain non-cash expenses for each reportable segment (in thousands):


	Year Ended December 31,
	2025		2024		2023
Stock-based compensation
Clear Aligner	$	23,883	$	22,888	$	13,963
Systems and Services	1,525		1,595		1,293
Unallocated corporate expenses	160,462		149,220		138,770
Total stock-based compensation	$	185,870	$	173,703	$	154,026
Depreciation and amortization
Clear Aligner	$	151,565	$	67,450	$	64,781
Systems and Services	39,513		30,998		31,518
Unallocated corporate expenses	46,358		46,586		46,102
Total depreciation and amortization	$	237,436	$	145,034	$	142,401

Reconciliation of Segment Income from Operations to Net Income Before Income Taxes

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


	Year Ended December 31,
	2025		2024		2023
Total segment income from operations	$	1,340,881	$	1,411,426	$	1,373,612
Unallocated corporate expenses	(795,126)		(803,798)		(730,274)
Total income from operations	545,755		607,628		643,338
Interest income	16,045		20,218		17,258
Other income (expense), net	23,487		(18,887)		(19,392)
Net income before provision for income taxes	$	585,287	$	608,959	$	641,204

Schedule of Revenue and Long-Lived Assets by Geographical Areas

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


	Year Ended December 31,
	2025		2024		2023
Net revenues 1:
U.S.	$	1,661,185	$	1,695,696	$	1,665,925
Switzerland	920,588		983,629		1,168,320
Other International	1,453,191		1,319,687		1,028,015
Total net revenues	$	4,034,964	$	3,999,012	$	3,862,260

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

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):


	December 31,
	2025		2024
Long-lived assets 1:
Switzerland	$	493,584	$	571,628
U.S.	200,343		207,689
Other International	545,848		605,193
Total long-lived assets	$	1,239,775	$	1,384,510

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

Segments and Geographical Information - Revenue and Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 4,034,964	$ 3,999,012	$ 3,862,260
Total long-lived assets	1,239,775	1,384,510
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,661,185	1,695,696	1,665,925
Total long-lived assets	200,343	207,689
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	920,588	983,629	1,168,320
Total long-lived assets	493,584	571,628
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	1,453,191	1,319,687	$ 1,028,015
Total long-lived assets	$ 545,848	$ 605,193

- 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.

+ References

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-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Income Taxes - Schedule of Income Tax Paid (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Income Taxes [Line Items]
United States - Federal	$ 72,872
United States - State and local	13,792
Total income taxes paid	134,753
Israel
Income Taxes [Line Items]
Income Tax Paid, Foreign, after Refund Received	7,291
Other foreign jurisdictions
Income Taxes [Line Items]
Income Tax Paid, Foreign, after Refund Received	$ 40,798

Schedule II: Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 19,131	$ 14,893	$ 10,343
Additions (Reductions) to Costs and Expenses	18,738	8,282	8,002
Write Offs	(3,656)	(4,044)	(3,452)
Balance at End of Period	34,213	19,131	14,893
Valuation allowance for deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	19,390	14,991	23,286
Additions (Reductions) to Costs and Expenses	(7,892)	4,399	(8,295)
Write Offs	0	0	0
Balance at End of Period	$ 11,498	$ 19,390	$ 14,991

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Components of Lease Expense

The components of lease expense consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2025		2024		2023
Operating lease cost 1	$	43,401	$	42,299	$	44,614
Variable lease cost 2	4,054		3,630		16,013
Total lease cost	$	47,455	$	45,929	$	60,627

1 Includes expense associated with short term leases, lease terms of 12 months or less, which is not material.

2 Includes payments related to agreements with embedded leases that are not otherwise reflected on the balance sheet.

Summary of Operating Lease Terms and Discount Rates

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2025		2024

Weighted average remaining lease term (in years)	5.1		5.4


Weighted average discount rate	4.1	%	3.8	%

Schedule of Operating Lease Liabilities

As of December 31, 2025, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	35,694
2027	29,595
2028	23,986
2029	15,564
2030	7,212
Thereafter	13,060
Total lease payments	125,111
Less: Imputed interest	(10,665)
Total lease liabilities	$	114,446

Schedule of Property, Plant and Equipment Under Operating Leases

Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2025		2024
Scanners under operating leases, gross	$	55,576	$	33,770
Less: accumulated depreciation	(26,222)		(12,038)
Scanners under operating leases, net	$	29,354	$	21,732

Schedule of Lease Payments Due

As of December 31, 2025, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	33,898
2027	28,587
2028	8,736
2029	1,080

Thereafter	—
Total lease payments	$	72,301

Stockholders' Equity - Summary of PSU Performance (Details) - Restricted Stock Units with Performance Conditions (PSUs) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Number of Shares
Nonvested beginning balance (shares) \| shares	11,000
Granted (shares) \| shares	0
Vested and released (shares) \| shares	(4,728)
Forfeited (shares) \| shares	0
Nonvested ending balance (shares) \| shares	6,000
Nonvested, beginning balance (usd per share) \| $ / shares	$ 204.33
Granted (in usd per share) \| $ / shares	0
Vested and released (usd per share) \| $ / shares	201.63
Forfeited (usd per share) \| $ / shares	0
Nonvested, ending balance (usd per share) \| $ / shares	$ 206.36
Weighted Average Remaining Contractual Term
Unvested	1 year
Aggregate Intrinsic Value
Unvested \| $	$ 984

Leases - Summary of Operating Lease Terms and Discount Rates (Details)	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Weighted average remaining lease term (in years)	5 years 1 month 6 days	5 years 4 months 24 days
Weighted average discount rate	4.10%	3.80%

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	445,053				445,053
Net change in unrealized gains (losses) from investments	3,033			3,033
Net change in foreign currency translation adjustment	28,419			28,419
Issuance of common stock relating to employee equity compensation plans (in shares)		335
Issuance of common stock relating to employee equity compensation plans	26,595		26,595
Tax withholdings related to net share settlements of equity awards (in shares)		(70)
Tax withholdings related to net share settlements of equity awards	(22,575)		(22,575)
Common stock repurchased and retired (in shares)		(2,457)
Common stock repurchased and retired	(595,420)	$ (1)	(30,852)		(564,567)
Equity forward contract related to accelerated stock repurchase	(10,000)		(10,000)
Stock-based compensation	154,026		154,026
Ending Balance (in shares) at Dec. 31, 2023		75,075
Ending 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	421,362				421,362
Net change in unrealized gains (losses) from investments	596			596
Net change in foreign currency translation adjustment	(15,786)			(15,786)
Issuance of common stock relating to employee equity compensation plans (in shares)		411
Issuance of common stock relating to employee equity compensation plans	25,281		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	(28,125)		(28,125)
Common stock repurchased and retired (in shares)		(1,545)
Common stock repurchased and retired	(355,535)	$ 0	(20,292)		(335,243)
Equity forward contract related to accelerated stock repurchase	0		49,527		49,527
Stock-based compensation	173,703		173,703
Ending Balance (in shares) at Dec. 31, 2024		73,849
Ending Balance at Dec. 31, 2024	3,851,985	$ 7	1,362,234	5,978	2,483,766
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	410,351				410,351
Net change in unrealized gains (losses) from investments	0
Net change in foreign currency translation adjustment	69,410			69,410
Issuance of common stock relating to employee equity compensation plans (in shares)		494
Issuance of common stock relating to employee equity compensation plans	21,749		21,749
Tax withholdings related to net share settlements of equity awards (in shares)		(104)
Tax withholdings related to net share settlements of equity awards	(20,390)		(20,390)
Common stock repurchased and retired (in shares)		(2,875)
Common stock repurchased and retired	(469,828)		(39,868)		(429,960)
Stock-based compensation	185,870		185,870
Ending Balance (in shares) at Dec. 31, 2025		71,364
Ending Balance at Dec. 31, 2025	$ 4,049,147	$ 7	$ 1,509,595	$ 75,388	$ 2,464,157

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Align and our wholly-owned subsidiaries after elimination of intercompany transactions and balances.
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 our consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition and deferred revenues, useful lives of intangible assets and property, plant and equipment, 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.
Fair Value of Financial instruments	Fair Value of Financial Instruments 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, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. We obtain fair values for our Level 2 investments. Our custody bank and asset managers independently use professional pricing services to gather pricing data which may include quoted market prices for identical or comparable financial instruments, or inputs other than quoted prices that are observable either directly or indirectly. We are ultimately responsible for these underlying estimates. Level 3 - Unobservable inputs to the valuation techniques that are supported by little or no market activity and are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider cash on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are held in various financial institutions in the U.S. and internationally.
Restricted Cash	Restricted Cash Restricted cash primarily consists of funds reserved for legal requirements. Restricted cash balances are primarily included in Other assets within our Consolidated Balance Sheets.
Marketable Securities	Marketable Securities Marketable securities consist of marketable debt securities which are classified as available-for-sale and are carried at fair value. Our fixed-income securities investment portfolio allows for investments with a maximum effective maturity of up to 40 months on any individual security. Marketable securities classified as current assets have maturities within one year from the balance sheet date. Unrealized gains or losses on such securities are included in Accumulated other comprehensive income (loss), net (“AOCI”) in stockholders’ equity. Realized gains and losses from sales and maturities of marketable securities are reported in earnings and computed using the specific identification cost method. Marketable securities are subject to a periodic impairment review. We evaluate if an allowance for credit loss is necessary by considering available information relevant to the collectability of the security and information about credit rating changes, past events, current conditions, and reasonable and supportable forecasts. Any allowance for credit loss is recorded as a charge to Other income (expense), net, in our Consolidated Statements of Operations. If we have an intent to sell, or if it is more likely than not that we will be required to sell a security in an unrealized loss position before recovery of its amortized cost basis, we will write down the security to its fair value and record the corresponding charge as a component of Other income (expense), net in our Consolidated Statements of Operations. As of December 31, 2025 and 2024, we had no marketable securities.
Variable Interest Entities	Variable Interest Entities We evaluate whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine we are the primary beneficiary of a VIE, we would consolidate the assets, liabilities, income and expense of the VIE into our consolidated financial statements. In determining if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of activities that are significant to the VIE and an assessment of our ability to direct those activities. Our assessment of whether we are the primary beneficiary of a VIE requires management to exercise significant judgment and utilize assumptions. We have concluded that we are not the primary beneficiary of our VIE investments; therefore, we do not consolidate their results into our consolidated financial statements.
Investments in Privately Held Companies	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 at cost, minus impairment, if any. Additionally, we adjust the carrying value of our investments 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 “Heartland Subscription Agreements”) with Heartland Dental Holding Corporation (“Heartland”). Pursuant to the Heartland Subscription Agreements we acquired less than a 5% equity interest in total, through the purchase of Class A Common Stock for $150 million ($75 million in each April 2023 and April 2024). On December 19, 2024 and June 5, 2025, we entered into Subscription Agreements (the “Smile Doctors Subscription Agreements”) with New SD Holding Company, L.P. (“SD Holding Company”). Pursuant to the Smile Doctors Subscription Agreements, we acquired less than a 3% equity interest through the purchase of Class A Common Units for $40 million. SD Holding Company owns a controlling interest, through intermediary entities, in Smile Doctors, LLC. We account for our investments in Heartland and SD Holding Company as investments in equity securities, utilizing the measurement alternative. Based on a review of the relevant facts and circumstances, primarily observable transactions for identical investments, we recorded a $18.0 million and 6.0 million increase to the carrying value of our Heartland investment in 2025 and 2024, respectively. This increased the total carrying value of our investment in Heartland to $174.0 million for the year ended December 31, 2025. 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. For the years ended December 31, 2025 and 2024, we did not hold any material investments in which we exercised significant influence. The carrying value of our investments in equity securities and equity method investments are reported in our Consolidated Balance Sheets as Other assets and any price adjustments or impairment, if any, are recorded in Other income (expense), net in our Consolidated Statements of Operations.
Derivatives Not Designated as Hedging Instruments	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. The gains and losses on these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being economically hedged. We do not enter into foreign currency forward contracts for trading or speculative purposes. The net gain or loss from the settlement of these foreign currency forward contracts is recorded in Other income (expense), net in the Consolidated Statements of Operations.
Foreign Currency	Foreign Currency For our international subsidiaries, we analyze on an annual basis or more often, if necessary, if a significant change in facts and circumstances indicate that the functional currency of the subsidiary has changed. For international subsidiaries where the local currency is the functional currency, adjustments from translating financial statements from the local currency to the U.S. dollar reporting currency are recorded to change in foreign currency translation adjustment, net of tax in our Consolidated Statements of Comprehensive Income. This foreign currency translation adjustment reflects the translation of the balance sheet at period end exchange rates, and the income statement at the transaction date or average exchange rate in effect during the period. Foreign currency remeasurement gains and losses that are derived from monetary assets and liabilities stated in a currency other than the international subsidiaries functional currency are included in Other income (expense), net.
Certain Risks and Uncertainties	Certain Risks and Uncertainties Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose the Company to concentration of credit risk consist principally of cash and cash equivalents. These instruments have minimal credit risk exposures. Management regularly monitors their compositions and maturities. The Company maintains its cash and cash equivalents in bank accounts that exceed federally insured FDIC limits. Through December 31, 2025, the Company has not experienced any material credit losses on such deposits. We invest excess cash primarily in money market funds and certificates of deposit and periodically evaluate them 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.
Accounts Receivable, net and Accounts Receivable Factoring	Accounts Receivable, net Trade accounts receivable are recorded at the invoiced amount. Accounts receivable, net includes allowances for doubtful accounts for any potentially uncollectible amounts. We periodically assess the adequacy of the allowance for doubtful accounts by reviewing the accounts receivable on a collective basis and giving consideration to various factors including the aging of the receivables and a customer’s expected ability to pay. For specific customer accounts receivable balances, we consider known disputes and collection history. In determining the amount of the allowance for doubtful accounts, we also evaluate the creditworthiness of customers, current market conditions and forecasts of future economic conditions to make any adjustments. Actual write-offs have not materially differed from the estimated allowances. No individual customer accounted for 10% or more of our accounts receivable, net balance at December 31, 2025 or 2024 nor net revenues for the years ended December 31, 2025, 2024 or 2023. 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 Consolidated Statements of Cash Flows. Total accounts receivable sold under factoring arrangements was $47.9 million and $52.1 million during the years ended December 31, 2025, and 2024, respectively. Factoring fees incurred on the sales of accounts receivable were recorded in Other income (expense), net in our Consolidated Statements of Operations and were not material.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value, with cost computed using standard cost which approximates actual cost on a first-in-first-out basis. Excess and obsolete inventories are determined primarily based on future demand forecasts, and write-downs of excess and obsolete inventories are recorded as a component of Cost of net revenues.
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net are stated at historical cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets. Construction in progress is related to the construction or development of property (including land) and equipment that are not ready for their intended use and have not yet been placed in service. Upon sale or retirement, the asset’s cost and related accumulated depreciation are removed from the balance sheet and any related gains or losses are reflected in Income from operations. Maintenance and repairs are expensed as incurred. Refer to Note 3 “Balance Sheet Components" of the Notes of Consolidated Financial Statements for details on estimated useful lives.
Leases - Lessee	Leases - Lessee We determine if an arrangement is or contains a lease at inception. Leases with a term of 12 months or less are not recorded on the balance sheet. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. A ROU asset and lease liability is recognized on the lease commencement date. The lease liability is determined based on the present value of lease payments over the lease term. We use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments as the rate implicit in our leases is not readily determinable. The ROU asset consists of the initial lease liability adjusted for lease incentives received and any initial direct costs incurred. The lease term represents the noncancellable period of the lease and may include options to extend the lease when it is reasonably certain that we will exercise that option. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments which are expensed as incurred and not included in the lease liability balance. The short-term portion of our lease liabilities is recorded in Accrued liabilities on our Consolidated Balance Sheets.
Leases - Lessor	Leases - Lessor We determine if an arrangement is or contains a lease at inception. All of our leases in which we are the lessor are classified as operating leases, exclusive of leases with a term of 12 months or less. The underlying asset in an operating lease arrangement is carried at depreciated cost within Property, plant, and equipment, net on our Consolidated Balance Sheets.
Business Combinations	Business Combinations We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. When determining the fair value of assets acquired and liabilities assumed, management is required to make certain estimates and assumptions, particularly with respect to determining the fair value of intangible assets. The estimates and assumptions used in fair valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows which are dependent on forecasted revenues and expenses, a discount rate, and the assets’ life cycle, among others. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available.
Goodwill and Finite-Lived Intangible Assets	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in a business combination and is allocated to the respective reporting units based on relative synergies generated. Finite-Lived Intangible Assets Our intangible assets primarily consist of intangible assets acquired as part of a business combination. These assets are amortized using the straight-line method over their estimated useful lives. The average amortization period by intangible asset class ranges from seven to twelve years. This amortization period reflects the period in which the economic benefits of the assets are expected to be realized.
Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets	Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators of impairment are identified between annual testing dates. We perform an initial assessment of qualitative factors to determine whether the existence of events and circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit has been reduced below its carrying amount. In performing this qualitative assessment, we identify and consider the significance of relevant key factors, events, and circumstances that affect the fair value of our reporting units. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as our actual and planned financial performance. We also give consideration to the difference between the reporting unit fair value and carrying value as of the most recent date a fair value measurement was performed. If, after assessing the totality of relevant events and circumstances, we determine that it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further testing is performed; however, if we conclude otherwise, then we will perform a quantitative impairment test which compares the estimated fair value of the reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss would be recorded in our Consolidated Statements of Operations for the amount of the excess. Management is required to exercise significant judgment when identifying the relevant assumptions and estimates used in determining the fair value and carrying value of our reporting units. Long-Lived Assets and Finite-Lived Intangible Assets We evaluate long-lived assets (including ROU assets) and finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. Factors we consider important which could trigger a quantitative impairment test include, but are not limited to, significant negative industry or economic trends, significant adverse changes in our competitive environment and a significant loss of customers. If an impairment indicator is identified, we perform a quantitative impairment analysis in which we compare the carrying value of an asset (asset group) to the future undiscounted cash flows the asset (asset group) is expected to generate. An asset (asset group) is considered impaired if its carrying amount exceeds the undiscounted cash flows. If an asset (asset group) is deemed to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset (asset group) exceeds its fair value. Our estimates of future cash flows attributable to our assets (asset groups) require significant judgment based on our historical and anticipated results and are subject to many assumptions. In the third quarter of 2025, we committed to a plan to dispose of, other than by sale, specifically identified manufacturing assets prior to the end of their estimated useful lives. We have materially completed the disposition of these assets as of December 31, 2025. Accordingly, we have revised the estimated useful lives of these assets to reflect our use through the disposal date. In the year ended December 31, 2025, we recorded $76.9 million of accelerated depreciation expense related to these assets. The increase in depreciation expense negatively impacted Net income, net of tax, by $53.9 million or $0.74 per basic and diluted share.
Development Costs for Internal Use Software and Software to be Marketed	Development Costs for Internal Use Software Internally developed software includes enterprise-level business software that we customize to meet our specific operational needs. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees, who are directly associated with the development of the applications. For the years ended December 31, 2025 and 2024, capitalized internally developed software costs were $38.5 million and $23.1 million, respectively. Development Costs for Software to be Marketed The costs to develop software that is marketed externally have not been capitalized as we believe our current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in Research and development expense in our Consolidated Statements of Operations.
Product Warranty	Product Warranty We offer assurance warranties on our products which provide the customer assurance that the product will function as intended because it complies with agreed-upon specifications; therefore, our warranties are not treated as a separate revenue performance obligation in accordance with the revenue standard but rather are accounted for as guarantees. Clear Aligner We warrant our Invisalign products against material defects until the treatment plan is complete except in the case of retainers, which are warranted up to three months from expected first use. We accrue for warranty costs, which are primarily based on historical product failure rates as well as current information on replacement cost. Systems and Services We warrant our intraoral scanners for a period of one year, which includes materials and labor. We accrue for these warranty costs based on average historical repair costs. An extended warranty may be purchased for an additional fee. Sales of extended warranties are accounted for as a separate performance obligation and recorded as revenue. We warrant our CAD/CAM software for a one year period to perform in accordance with agreed product specifications. As we have not historically incurred any material warranty costs, we do not accrue for these software warranties. Warranty costs are recorded in cost of net revenues upon shipment of products. We regularly review our warranty liability and update these balances based on historical warranty cost trends. Actual warranty costs incurred have not materially differed from those accrued; however future actual warranty costs could differ from the estimated amounts.
Revenue Recognition	Revenue Recognition Our revenues are derived primarily from the sale of aligners, scanners, and services from our Clear Aligner and Systems and Services reportable segments. We identify separate performance obligations, determine the transaction price, allocate the transaction price and record revenue in accordance with ASC 606 “Revenues from Contracts with Customers.” We identify a performance obligation as distinct if both of the following criteria are met: the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determining the standalone selling price (“SSP”) in order to allocate the transaction price to the individual performance obligations is the result of various factors, such as historical prices, changing trends and market conditions, costs, and gross margins. While changes in the allocation of the SSP between performance obligations will not affect the amount of total revenues recognized for a particular contract, any material changes could impact the timing of revenue recognition, which would have a material effect on our financial position and result of operations. This is because the contract consideration is allocated to each performance obligation, delivered or undelivered, at the inception of the contract based on the SSP of each distinct performance obligation. Clear Aligner We enter into contracts (“treatment plan(s)”) that involve multiple future performance obligations. Invisalign Comprehensive, Invisalign First Phase 1, Invisalign First Comprehensive Phase 2, Invisalign Adult, Invisalign Standard, Invisalign Moderate, Invisalign Go, Invisalign Go Plus, and Lite and Express Packages include optional additional aligners at no charge for a certain period of time ranging from six months to five years after initial shipment. Our treatment plans comprise the following performance obligations that also represent distinct deliverables: initial aligners and the option of additional aligners. We allocate the transaction price for each treatment plan based on each unit’s standalone selling price. Management considers a variety of factors such as same or similar product historical sales, costs, and gross margin, which may vary over time depending upon the unique facts and circumstances related to each performance obligation in making these estimates. In addition to historical data, we take into consideration changing trends and market conditions. For treatment plans with multiple future options, we also consider usage rates, which is the number of times a customer is expected to order additional aligners. Our process for estimating usage rates requires significant judgment and evaluation of inputs, including historical usage data by region, country and channel. We recognize revenue upon shipment, as the customers obtain physical possession and we have enforceable rights to payment. We have made an accounting policy election to account for shipping and handling costs as activities to fulfill the performance obligation. Where processing fees are charged, the consideration received from the fees are included in the transaction price. As we collect most consideration upfront, we consider whether a significant financing component exists; however, as the delivery of the performance obligations are at the customer’s discretion, we conclude that no significant financing component exists. Systems and Services We sell intraoral scanners and CAD/CAM services through both our direct sales force and distribution partners. The intraoral scanner sales price includes one year of warranty and unlimited scanning services. The customer may also select, for additional fees, an extended warranty and unlimited scanning services for periods beyond the initial year. When intraoral scanners are sold with an unlimited scanning service agreement and/or extended warranty, we allocate revenues based on the respective SSP of the scanner and the subscription services. We estimate the SSP of each element, taking into account factors such as same or similar historical prices and discounting strategies. Revenues are then recognized over time as the monthly services are rendered and upon shipment of the scanner, as that is when we deem the customer to have obtained control. We also have a rental program, where scanners are leased to customers. The contracts for the program are treated as operating leases, and the revenue is recognized ratably over the lease term. CAD/CAM services, where sold separately, include the initial software license and maintenance and support. We allocate revenues based upon the respective SSPs of the software license and the maintenance and support. We estimate the SSP of each element using data such as historical prices. Revenues related to the software license are recognized upfront and revenues related to the maintenance and support are recognized over time. For both scanner and service sales, most consideration is collected upfront and in cases where there are payment plans, consideration is collected within one year and, therefore, there are no significant financing components. Volume Discounts In certain situations, we offer promotions in which the discount will increase depending upon the volume purchased over time. We concluded that in these situations, the promotions can represent either variable consideration or options, depending upon the specifics of the promotion. In the event the promotion contains an option, the option is considered a material right and, therefore, included in the accounting for the initial arrangement. We estimate the average anticipated discount over the lifetime of the promotion or contract, and apply that discount to each unit as it is sold. On a quarterly basis, we review our estimates and, if needed, updates are made and changes are applied prospectively. Accrued Sales Return Reserve We provide a reserve for sales returns based on historical sales returns as a percentage of revenues. Costs to Obtain a Contract We offer a variety of commission plans to our sales force; each plan has multiple components. To match the costs to obtain a contract to the associated revenues, we evaluate the individual components and capitalize the eligible components, recognizing the costs over the treatment period. The capitalized costs to obtain contracts were $29.2 million and $25.8 million as of December 31, 2025 and 2024, respectively, and are included in Other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $15.6 million, $18.7 million, and $12.5 million during the years ended December 31, 2025, 2024, and 2023, respectively, which is included in Selling, general and administrative expenses in our Consolidated Statements of Operations. Unfulfilled Performance Obligations for Clear Aligners and Scanners Our unfulfilled performance obligations, including deferred revenues and backlog, and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,352.7 million and $1,444.9 million as of December 31, 2025 and 2024, respectively. This includes performance obligations from the Clear Aligner reportable segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes performance obligations from our Systems and Services reportable segment, primarily services and support, which are fulfilled over one to five years, and contracted deliveries of additional scanners. The estimate includes both product and service unfulfilled performance obligations and the time range reflects our best estimate of when we will transfer control to the customer and may change based on customer usage patterns, timing of shipments, readiness of customers' facilities for installation, and manufacturing availability. Contract Balances The timing of revenue recognition results in deferred revenues being recognized on our Consolidated Balance Sheet. For both aligners and scanners, we usually collect the total consideration owed prior to all performance obligations being satisfied with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue, which is generated based upon the timing of invoices and recognition patterns, not payments. If revenue recognition exceeds the billing, the excess amount is considered an unbilled receivable or a contract asset. Conversely, if the billing occurs prior to the revenue recognition, the amount is considered deferred revenue and a contract liability. Shipping and Handling Costs Shipping and handling charges to customers as well as processing fees are included in net revenues, and the associated costs incurred are recorded in cost of net revenues.
Legal Proceedings	Legal Proceedings We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our consolidated financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range.
Research and Development	Research and Development Research and development costs are expensed as incurred and include costs associated with the research and development of new products and enhancements to existing products. These costs primarily include employee related costs, including payroll, benefits and stock-based compensation, equipment, material and maintenance costs, outside consulting expenses, depreciation and amortization expense and allocations of corporate overhead expenses including facilities and IT.
Advertising Costs	Advertising Costs The cost of advertising and media is expensed as incurred. For the years ended December 31, 2025, 2024 and 2023, we incurred advertising costs of $188.7 million, $185.0 million and $201.2 million, respectively.
Stock-Based Compensation	Stock-Based Compensation We recognize stock-based compensation cost for shares expected to vest on a straight-line basis over the requisite service period of the award, net of estimated forfeitures. We use the Black-Scholes option pricing model to determine the fair value of employee stock purchase plan shares. We use a Monte Carlo simulation model to estimate the fair value of awards with a market based condition which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. For restricted stock units that include a performance condition, we use the stock price on the grant date to estimate the fair value and stock-based compensation cost is recorded based on expected attainment of performance targets. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
Income Taxes	Income Taxes We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenues and expenses for tax and financial statement purposes. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves us estimating our current tax exposure under the applicable tax laws and assessing temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities which are included in our Consolidated Balance Sheets. We account for uncertainty in income taxes pursuant to authoritative guidance based on a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit based on its technical merits, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We adjust reserves for our uncertain tax positions due to changing facts and circumstances, such as the closing of a tax audit or refinement of estimates due to new information. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will impact our tax provision in our Consolidated Statements of Operations in the period in which such determination is made. We assess the likelihood that we will be able to realize our deferred tax assets, including those related to our Switzerland deferred tax assets, which have a finite utilization period. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is more likely than not that we will not realize our deferred tax assets, we will record a valuation allowance against the deferred tax assets that we estimate will not ultimately be realizable. The determination of whether a valuation allowance is required involves significant judgment and reflects our evaluation of changes in our operational performance, taxable income forecasts, and other relevant factors,
Common Stock Repurchase	Common Stock Repurchase We repurchase our own common stock from time to time under stock repurchase programs approved by our Board of Directors. We account for these repurchases under the accounting guidance for equity where we allocate the total repurchase value that is in excess of par value between additional paid-in capital and retained earnings. All shares repurchased are retired.
Recent Accounting Pronouncements	Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted 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. We adopted this standard on a prospective basis for our annual report on Form 10-K effective for the year ended December 31, 2025. ASU 2023-09 impacts our accounting for income tax financial statement disclosures, but did not impact our Consolidated Balance Sheets, Statements of Operations or Statements of Cash Flows. On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07 (“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 and other segment expenses. For public business entities, the provisions of ASU 2023-07 were effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We adopted this standard for the fiscal year ended December 31, 2024 and for interim periods within the fiscal year ended December 31, 2025. See Note 14 “Segments and Geographical Information.” (ii) Recent Accounting Pronouncements Not Yet Effective On September 18, 2025, the FASB issued ASU 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software.” The amendments in this ASU simplify the accounting for internal-use software by eliminating the existing project development stages and introducing new guidance for evaluating the probable-to-complete threshold for capitalization. The amendments in this ASU also require the application of ASC 360-10 disclosure requirements for all capitalized internal-use software costs, regardless of how those costs are presented in the financial statements. The provisions of ASU 2025-06 are effective for all entities for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements. On November 4, 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures.” The amendments in this ASU require a public entity to disclose, in the notes to the financial statements, specified information about certain costs and expenses, including the amounts of inventory purchases, employee compensation, depreciation and intangible asset amortization. For public business entities, the provisions of ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. There will be no impact to our consolidated balance sheets or statements of operations; however, the Company is evaluating the effect of this pronouncement on our consolidated financial statement disclosures.
Earnings per share	Basic net income per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes RSUs, MSUs, PSUs and our ESPP.

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying value of goodwill for the years ended December 31, 2025 and 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	(6,017)		(18,459)		(24,476)
Balance as of December 31, 2024	152,645		289,985		442,630

Foreign currency translation adjustments	11,610		37,593		49,203
Balance as of December 31, 2025	$	164,255	$	327,578	$	491,833

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 December 31, 2025		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2025
Existing technology	11	$	146,651	$	(67,138)	$	—	$	79,513
Customer relationships	10	21,500		(12,363)		—		9,137
Trademarks and tradenames1	7	9,800		(8,050)		—		1,750
Patents	12	480		(320)		—		160
		$	178,431	$	(87,871)	$	—	$	90,560
Foreign currency translation adjustments								3,373
Total intangible assets, net								$	93,933

1 The Weighted Average Amortization Period decreased from 10 years to 7 years due to an intangible asset with a useful life of 15 years becoming fully amortized in 2025.


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2024		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2024
Existing technology	11	$	146,651	$	(52,238)	$	—	$	94,413
Customer relationships	10	21,500		(10,079)		—		11,421
Trademarks and tradenames	10	16,600		(9,255)		(4,122)		3,223
Patents	12	480		(280)		—		200
		$	185,231	$	(71,852)	$	(4,122)	$	109,257
Foreign currency translation adjustments								(5,769)
Total intangible assets, net								$	103,488

Schedule of Future Amortization for Finite-Lived Intangible Assets

The total estimated future amortization expense for these acquired finite-lived intangible assets as of December 31, 2025 is as follows (in thousands):


Fiscal Year	Amortization
2026	$	17,922
2027	15,607
2028	14,505
2029	14,505
2030	6,328
Thereafter	21,693
Total	$	90,560

- Definition

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

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+ Details

Segments and Geographical Information - Reconciliation of Net Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Segment income from operations	$ 545,755	$ 607,628	$ 643,338
Interest income	16,045	20,218	17,258
Other income (expense), net	23,487	(18,887)	(19,392)
Net income before provision for income taxes	585,287	608,959	641,204
Operating Segments
Segment Reporting Information [Line Items]
Segment income from operations	1,340,881	1,411,426	1,373,612
Unallocated corporate expense
Segment Reporting Information [Line Items]
Segment income from operations	$ (795,126)	$ (803,798)	$ (730,274)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

+ Details

Common Stock Repurchase Programs - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Jan. 31, 2023
Share Repurchases [Line Items]
Amount paid		$ 465,939,000	$ 352,878,000	$ 592,360,000
January 2023 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized					$ 1,000,000,000.0
April 2025 Repurchase Program
Share Repurchases [Line Items]
Repurchase of common stock, authorized					$ 1,000,000,000.0
Share Repurchase Program, Period in Force		3 years
Authorized repurchase amount remaining		$ 831,200,000
April 2025 Open Market Repurchase Program
Share Repurchases [Line Items]
Authorized repurchase amount remaining		$ 831,200,000
April 2025 Open Market Repurchase Program \| Subsequent Event
Share Repurchases [Line Items]
Amount paid	$ 31,200,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,094,908	$ 1,043,887
Accounts receivable, net of allowance for doubtful accounts of $34,213 and $19,131, respectively	1,101,757	995,685
Inventories	226,343	254,287
Prepaid expenses and other current assets	165,571	198,582
Assets held for sale	27,983	0
Total current assets	2,616,562	2,492,441
Property, plant and equipment, net	1,131,453	1,271,134
Operating lease right-of-use assets, net	108,322	113,376
Goodwill	491,833	442,630
Intangible assets, net	93,933	103,488
Deferred tax assets	1,513,542	1,557,372
Other assets	278,048	234,159
Total assets	6,233,693	6,214,600
Current liabilities:
Accounts payable	121,450	108,693
Accrued liabilities	536,749	598,188
Deferred revenues	1,261,816	1,331,146
Total current liabilities	1,920,015	2,038,027
Income tax payable	68,200	96,466
Operating lease liabilities	82,507	88,214
Other long-term liabilities	113,824	139,908
Total liabilities	2,184,546	2,362,615
Commitments and contingencies (Notes 8 and 9)
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; 71,364 and 73,849 issued and outstanding, respectively)	7	7
Additional paid-in capital	1,509,595	1,362,234
Accumulated other comprehensive income (loss), net	75,388	5,978
Retained earnings	2,464,157	2,483,766
Total stockholders’ equity	4,049,147	3,851,985
Total liabilities and stockholders’ equity	$ 6,233,693	$ 6,214,600

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Overview We have implemented a cross-functional information security program to assess, identify and manage material risks from cybersecurity risk, which includes seeking input from our employees, management, third-party vendors, the Audit Committee of the Board of Directors (“Audit Committee”) and the Board of Directors. Our information security program’s ultimate goal is preventing cybersecurity incidents to the extent feasible, while simultaneously increasing our system resilience to minimize the business impact should an incident occur. In the event of an identified cybersecurity incident, we have developed a cybersecurity incident response process, which outlines steps to be followed from incident detection, analysis, containment, eradication, recovery and notification, including notifying functional areas (e.g. information technology, legal, finance, operations, privacy), as well as senior leadership and the Audit Committee, as appropriate. In certain instances, incidents are escalated to certain members of our legal team who are responsible for, among other things, the accurate and timely disclosure of material cybersecurity incidents as required under federal securities laws, including making the materiality determination and approving related securities disclosures. Risk Management and Strategy Our information security program devotes significant resources to cybersecurity and risk management processes to adapt to the changing cybersecurity landscape and respond to emerging threats in a timely and effective manner. We regularly assess the threat landscape and take a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and response. Our information security program leverages the National Institute of Standards and Technology (NIST) and International Organization for Standardization (ISO) 27001 frameworks choosing to organize our cybersecurity risks into five categories: identify, protect, detect, respond and recover. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST and ISO frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our information security program is integrated into our overall enterprise risk management program. Our information security program includes, among other things: •cybersecurity incident response; •vulnerability management; •antivirus and malware protection; •technology compliance and risk management; •encryption; •identity and access management; •application security; and •security monitoring. Our information security program also includes an information security awareness program, which includes annual training regarding our acceptable use and information classification and handling policies, regular phishing campaigns complemented by additional employee training as appropriate, and communications and companion trainings to keep users informed on current events. Our information security team engages third-party services to conduct evaluations of our security controls, including penetration testing and independent audits. Annually, an external auditor conducts a System and Organization Controls (“SOC”) type 2 audit covering the security principle for systems supporting our products. Our assessment of risks associated with the use of third-party vendors is part of our overall cybersecurity risk management framework. If a third-party vendor is unable to provide a SOC 1 or SOC 2 report, our information security team takes additional steps to assess its cybersecurity preparedness and our initiation or continued engagement with it. Additionally, third-party vendors are required to include security and privacy addenda to our contracts where determined applicable and are reassessed periodically as necessary depending on the risk level that has been assigned to the third-party vendor. Our legal team also requires that our third-party vendors report cybersecurity incidents to us so the impact of the incident on us can be assessed. As of the date of this Annual Report on Form 10-K, we have not identified any risks from known cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition. Notwithstanding the approach we take to cybersecurity, we may not successfully prevent or mitigate cybersecurity incidents that could have a material adverse effect on us. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be covered or, if covered, fully insured. For a discussion of our cybersecurity-related risks, see Part I, Item 1A of this Annual Report on Form 10-K under the heading “Risk Factors.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have implemented a cross-functional information security program to assess, identify and manage material risks from cybersecurity risk, which includes seeking input from our employees, management, third-party vendors, the Audit Committee of the Board of Directors (“Audit Committee”) and the Board of Directors.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Role of Management To more effectively assess and manage cybersecurity threats, we have a dedicated Chief Information Security Officer (“CISO”) who is responsible for leading enterprise-wide information security strategy, policy, process, and technology. Our current CISO has 20+ years of information security and risk management experience and holds a Certified Information Systems Security Professional (CISSP) certification. Our CISO regularly briefs our Audit Committee on our cybersecurity and information security program and cybersecurity incidents deemed to pose a risk of a critical business impact or reputational harm. Our information security team, comprised of employees with an expertise in cybersecurity and information technology, regularly assesses the threat landscape and takes a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and response. Our information security team annually performs a cybersecurity enterprise risk assessment and presents the results to management and the Audit Committee. In addition, our internal audit team conducts periodic audits of the Company’s systems and cybersecurity processes, with findings reported to the Audit Committee and senior management. Role of the Board of Directors and the Audit Committee Our Audit Committee has responsibility for overseeing and reviewing our cybersecurity, data privacy, and other information technology risks, controls and procedures, including our plans to mitigate cybersecurity risks and to respond to data breaches. Our Audit Committee also reviews with management any specific cybersecurity issues that could affect the adequacy of our internal controls and disclosure procedures and any public disclosures about our cybersecurity controls and procedures, the Board of Directors’ cybersecurity expertise, and its oversight of cybersecurity risk. The Audit Committee periodically reports on its review of cybersecurity risks and our cybersecurity program to our Board of Directors. In 2025, our CISO or his team met with the Audit Committee two times to discuss cybersecurity risks and threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Audit Committee has responsibility for overseeing and reviewing our cybersecurity, data privacy, and other information technology risks, controls and procedures, including our plans to mitigate cybersecurity risks and to respond to data breaches. Our Audit Committee also reviews with management any specific cybersecurity issues that could affect the adequacy of our internal controls and disclosure procedures and any public disclosures about our cybersecurity controls and procedures, the Board of Directors’ cybersecurity expertise, and its oversight of cybersecurity risk. The Audit Committee periodically reports on its review of cybersecurity risks and our cybersecurity program to our Board of Directors. In 2025, our CISO or his team met with the Audit Committee two times to discuss cybersecurity risks and threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee periodically reports on its review of cybersecurity risks and our cybersecurity program to our Board of Directors. In 2025, our CISO or his team met with the Audit Committee two times to discuss cybersecurity risks and threats.
Cybersecurity Risk Role of Management [Text Block]	To more effectively assess and manage cybersecurity threats, we have a dedicated Chief Information Security Officer (“CISO”) who is responsible for leading enterprise-wide information security strategy, policy, process, and technology. Our current CISO has 20+ years of information security and risk management experience and holds a Certified Information Systems Security Professional (CISSP) certification. Our CISO regularly briefs our Audit Committee on our cybersecurity and information security program and cybersecurity incidents deemed to pose a risk of a critical business impact or reputational harm. Our information security team, comprised of employees with an expertise in cybersecurity and information technology, regularly assesses the threat landscape and takes a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and response. Our information security team annually performs a cybersecurity enterprise risk assessment and presents the results to management and the Audit Committee. In addition, our internal audit team conducts periodic audits of the Company’s systems and cybersecurity processes, with findings reported to the Audit Committee and senior management.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	To more effectively assess and manage cybersecurity threats, we have a dedicated Chief Information Security Officer (“CISO”) who is responsible for leading enterprise-wide information security strategy, policy, process, and technology.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our current CISO has 20+ years of information security and risk management experience and holds a Certified Information Systems Security Professional (CISSP) certification.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our CISO regularly briefs our Audit Committee on our cybersecurity and information security program and cybersecurity incidents deemed to pose a risk of a critical business impact or reputational harm. Our information security team, comprised of employees with an expertise in cybersecurity and information technology, regularly assesses the threat landscape and takes a holistic view of cybersecurity risks, with a layered cybersecurity strategy based on prevention, detection and response. Our information security team annually performs a cybersecurity enterprise risk assessment and presents the results to management and the Audit Committee. In addition, our internal audit team conducts periodic audits of the Company’s systems and cybersecurity processes, with findings reported to the Audit Committee and senior management.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Common Stock Repurchase Programs - Open Market Common Stock Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended					6 Months Ended	12 Months Ended
	Jan. 31, 2026	Sep. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	Jan. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share Repurchase Program [Line Items]
Amount paid								$ 465,939	$ 352,878	$ 592,360
January 2023 Open Market Repurchase Program \| Q4 2023
Share Repurchase Program [Line Items]
Amount paid						$ 100,000
Common stock repurchased and retired (in shares)						465,518
Cost per share (in dollars per share)						$ 214.81
January 2023 Open Market Repurchase Program \| Q2 2024
Share Repurchase Program [Line Items]
Amount paid					$ 150,000
Common stock repurchased and retired (in shares)					598,302
Cost per share (in dollars per share)					$ 250.73
January 2023 Open Market Repurchase Program \| Q4 2024
Share Repurchase Program [Line Items]
Amount paid				$ 275,000
Common stock repurchased and retired (in shares)				1,241,509
Cost per share (in dollars per share)				$ 221.50
January 2023 Open Market Repurchase Program \| Q1 2025
Share Repurchase Program [Line Items]
Amount paid			$ 225,000
Common stock repurchased and retired (in shares)			1,339,124
Cost per share (in dollars per share)			$ 168.02
April 2025 Open Market Repurchase Program \| Q3 2025
Share Repurchase Program [Line Items]
Amount paid		$ 168,800
Common stock repurchased and retired (in shares)		1,203,883
Cost per share (in dollars per share)		$ 140.22
April 2025 Open Market Repurchase Program \| Forecast
Share Repurchase Program [Line Items]
Amount paid							$ 200,000
April 2025 Open Market Repurchase Program \| Subsequent Event
Share Repurchase Program [Line Items]
Amount paid	$ 31,200

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2025
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, we 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 were required to pay these assessments prior to contesting or litigating the matter in statutory appeal. We have historically asserted and continue to assert that doctor prescribed clear aligners sold by dentists for the orthodontic treatment of patient malocclusions are exempt from VAT, that we have reasonably relied upon statements and guidance by HMRC and that our 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 for the period of October 2019 through May 2023 and withdraw any potential assessments for the period from June 2023 through mid-October 2023. HMRC has refunded to the Company the assessed amounts, approximately $100 million. A statutory appeal (before the First-tier Tribunal - “Tax Tribunal”) was held on January 27th through January 30th, 2025. On April 24, 2025, the Tax Tribunal issued a ruling in our favor indicating that clear aligners are “dental prostheses for the purposes of VAT”, which is a key condition for the VAT exemption. On June 13, 2025, HMRC applied for permission to appeal the Tax Tribunal decision, which was granted on July 15, 2025. On August 1, 2025, HMRC lodged their grounds for appeal to the Upper Tribunal. A hearing in front of the Upper Tribunal has been scheduled for May 2026. In August 2025, we stopped charging VAT to our United Kingdom customers. It is not possible at this stage to accurately evaluate the likelihood of an unfavorable outcome from the Upper Tribunal statutory appeal, nor estimate a range of possible loss. 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 December 31, 2025, we did not have any material indemnification claims that were probable or reasonably possible.

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)		12 Months Ended
	Jan. 02, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Carrying amount of intangible assets		$ 178,431,000	$ 185,231,000
Useful life		15 years
Goodwill impairment		$ 0	0
Amortization of intangible assets		18,800,000	18,900,000	$ 16,400,000
Existing technology
Finite-Lived Intangible Assets [Line Items]
Carrying amount of intangible assets		$ 146,651,000	$ 146,651,000
Useful life		11 years	11 years
Cubicure \| Existing technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 47,000,000.0
Useful life	13 years

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483154/926-20-50-5

+ Details

- Definition

Amount of impairment loss from 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.

+ References + 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	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2025 CAD ($)	Dec. 31, 2025 GBP (£)	Dec. 31, 2025 PLN (zł)	Dec. 31, 2025 ILS (₪)	Dec. 31, 2025 JPY (¥)	Dec. 31, 2025 BRL (R$)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 CHF (SFr)	Dec. 31, 2025 TWD ($)	Dec. 31, 2025 NZD ($)	Dec. 31, 2025 KPW (₩)	Dec. 31, 2025 AUD ($)	Dec. 31, 2025 CZK (Kč)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 CAD ($)	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 PLN (zł)	Dec. 31, 2024 ILS (₪)	Dec. 31, 2024 JPY (¥)	Dec. 31, 2024 BRL (R$)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 CHF (SFr)	Dec. 31, 2024 TWD ($)	Dec. 31, 2024 NZD ($)	Dec. 31, 2024 KPW (₩)	Dec. 31, 2024 AUD ($)	Dec. 31, 2024 CZK (Kč)
Derivative [Line Items]
Notional amount	$ 466,162															$ 458,347
Euro
Derivative [Line Items]
Notional amount	215,895	€ 183,700														183,172	€ 176,080
Canadian Dollar
Derivative [Line Items]
Notional amount	65,802		$ 90,000													67,446		$ 97,000
British Pound
Derivative [Line Items]
Notional amount	51,782			£ 38,500												47,090			£ 37,600
Polish Zloty
Derivative [Line Items]
Notional amount	48,605				zł 174,800											68,633				zł 283,000
Israeli Shekel
Derivative [Line Items]
Notional amount	25,283					₪ 80,500										24,740					₪ 90,055
Japanese Yen
Derivative [Line Items]
Notional amount	20,447						¥ 3,200,000									12,778						¥ 2,000,000
Brazilian Real
Derivative [Line Items]
Notional amount	11,440							R$ 63,500								13,327							R$ 83,100
Chinese Yuan
Derivative [Line Items]
Notional amount	7,461								¥ 52,000							22,417								¥ 164,500
Swiss Franc
Derivative [Line Items]
Notional amount	5,316									SFr 4,200						6,314									SFr 5,700
New Taiwan Dollar
Derivative [Line Items]
Notional amount	3,851										$ 121,500					1,786										$ 58,700
New Zealand Dollar
Derivative [Line Items]
Notional amount	3,474											$ 6,020				3,924											$ 7,000
Korean Won
Derivative [Line Items]
Notional amount	3,207												₩ 4,600,000			1,361												₩ 2,000,000
Australian Dollar
Derivative [Line Items]
Notional amount	2,337													$ 3,500		2,355													$ 3,800
Czech Koruna
Derivative [Line Items]
Notional amount	$ 1,262														Kč 26,000	$ 3,004														Kč 72,800

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gain (loss) on derivative	$ (34.2)	$ 35.2	$ (15.9)

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Net revenues	$ 4,034,964	$ 3,999,012	$ 3,862,260
Cost of net revenues	1,323,951	1,199,853	1,155,397
Gross profit	2,711,013	2,799,159	2,706,863
Operating expenses:
Selling, general and administrative	1,755,791	1,763,193	1,703,379
Research and development	369,911	364,202	346,830
Restructuring and other charges	35,378	33,168	13,316
Legal settlement loss	4,178	30,968	0
Total operating expenses	2,165,258	2,191,531	2,063,525
Income from operations	545,755	607,628	643,338
Interest income	16,045	20,218	17,258
Other income (expense), net	23,487	(18,887)	(19,392)
Total interest income and other income (expense), net	39,532	1,331	(2,134)
Net income before provision for income taxes	585,287	608,959	641,204
Income Tax expense	174,936	187,597	196,151
Net income	$ 410,351	$ 421,362	$ 445,053
Net income per share:
Net income per share, basic (usd per share)	$ 5.66	$ 5.63	$ 5.82
Diluted (usd per share)	$ 5.65	$ 5.62	$ 5.81
Shares used in computing net income per share:
Basic (shares)	72,542	74,877	76,426
Diluted (shares)	72,588	74,993	76,568

Stockholders' Equity

12 Months Ended

Dec. 31, 2025

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The holders of common stock are entitled to receive dividends whenever funds are legally available and when and if declared by the Company’s Board of Directors. We have not historically declared or paid dividends on our common stock.

Stock-Based Compensation Plans

Our Align Technology, Inc. 2005 Incentive Plan, as amended (the “2005 Incentive Plan”), provides for the granting of incentive stock options, non-statutory stock options, restricted stock, stock appreciation rights, performance units and performance shares to employees, non-employee directors and consultants. Shares granted on or after May 16, 2013 as an award of restricted stock, restricted stock units, performance shares or performance units (“full value awards”) are counted against the authorized share reserve as one and nine-tenths (1 9/10) shares for every one (1) share subject to the award, and any shares canceled that were counted as one and nine-tenths shares against the plan reserve will be returned at the same ratio.

As of December 31, 2025, the 2005 Incentive Plan has a total reserve of 34,668,895 shares of which 4,608,476 shares are available for issuance. We issue new shares from our pool of authorized but unissued shares to satisfy the exercise and vesting obligations of our stock-based compensation plans.

Summary of Stock-Based Compensation Expense

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the years ended December 31, 2025, 2024 and 2023 is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Cost of net revenues	$	6,177	$	6,995	$	7,462
Selling, general and administrative	132,362		123,979		115,992
Research and development	47,331		42,729		30,572
Total stock-based compensation	$	185,870	$	173,703	$	154,026

The income tax benefit related to stock-based compensation was $20.0 million, $19.0 million and $17.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Restricted Stock Units (“RSUs”)

The fair value of RSUs is based on the closing price of our stock on the date of grant. Generally, RSUs vest over a period of four years.

The following table summarizes RSU activity for the year ended December 31, 2025:


	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, 2024	1,019	$	331.10
Granted	692	195.43
Vested and released	(313)	354.77
Forfeited	(148)	274.34
Unvested as of December 31, 2025	1,250	$	256.80	1.3	$	195,141

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (calculated by multiplying our closing stock price on the last trading day of fiscal year 2025 by the number of unvested RSUs) that would have been received by the unit holders had all RSUs vested and been released on the last trading day of fiscal year 2025. This amount will fluctuate based on the fair market value of our stock. During 2025, of the 312,735 shares vested and released, 90,466 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 222,269 shares.

The total fair value of RSUs vested as of their respective vesting dates during 2025, 2024 and 2023 was $61.1 million, $78.8 million and $63.0 million, respectively. The weighted average grant date fair value of RSUs granted during 2025, 2024 and 2023 was $195.43, $307.12 and $316.16, respectively. As of December 31, 2025, we expect to recognize $191.9 million of total unamortized compensation costs, net of estimated forfeitures, related to RSUs over a weighted average period of 2.3 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 our 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 is 250% of the MSUs initially granted.

The following table summarizes MSU activity for the year ended December 31, 2025:


	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, 2024	193	$	679.14
Granted	127	362.98
Vested and released	(30)	878.35
Forfeited	(27)	638.92
Unvested as of December 31, 2025	263	$	507.88	1.3	$	41,148

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (calculated by multiplying our closing stock price on the last trading day of 2025 by the number of unvested MSUs) that would have been received by the unit holders had all MSUs been vested and released as of the last trading day of 2025. This amount will fluctuate based on the fair market value of our stock. During 2025, of the 29,995 shares that vested and released, 11,091 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 18,904 shares.

The total fair value of MSUs vested as of their respective vesting dates during 2025, 2024 and 2023 was $5.7 million, $10.1 million and $7.8 million, respectively. As of December 31, 2025, we expect to recognize $44.9 million of total unamortized compensation costs, net of estimated forfeitures, related to MSUs over a weighted average period of 1.3 years.

The fair value of MSUs is estimated at the grant date using a Monte Carlo simulation that includes factors for market conditions. The weighted average assumptions used in the Monte Carlo simulation were as follows:


	Year Ended December 31,
	2025			2024			2023
Expected term (in years)	3.0			3.0			3.0
Expected volatility	51.5		%	52.0		%	59.1		%
Risk-free interest rate	4.2		%	4.3		%	4.3		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	362.98		$	617.79		$	629.53

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 PSU activity for the year ended December 31, 2025:


	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, 2024	11	$	204.33
Granted	—	—
Vested and released	(5)	201.63
Forfeited	—	—
Unvested as of December 31, 2025	6	$	206.36	1.0	$	984

During 2025, of the 4,728 shares vested and released, 1,923 shares were withheld for employee statutory tax obligations, resulting in a net issuance of 2,805 shares. As of December 31, 2025, we expect to recognize $0.5 million of total unamortized compensation costs, net of estimated forfeitures, related to PSUs over a weighted average period of 1.0 year.

Employee Stock Purchase Plan (“ESPP”)

In May 2010, our stockholders approved the 2010 Employee Stock Purchase Plan (as amended and restated, the “2010 Purchase Plan”) which consists of consecutive overlapping twenty-four month offering periods with four six-month purchase periods in each offering period. Employees purchase shares at 85% of the lower of the fair market value of the common stock at either the beginning of the offering period (grant date) or the end of the purchase period. The 2010 Purchase Plan will continue until terminated by either the Board of Directors or its administrator. The 2010 Purchase Plan also allows for purchase rights to employees outside the U.S. and Canada with six-month offering periods and purchase periods. In May 2021, the 2010 Purchase Plan was amended and restated to increase the maximum number of shares available for purchase to 4,400,000 shares.

The following table summarizes the ESPP shares issued:


	Year Ended December 31,
	2025		2024		2023
Number of shares issued (in thousands)	147		120		114
Weighted average price	$	148.77	$	213.11	$	234.19

As of December 31, 2025, 1,728,664 shares remain available for future issuance.

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:


	Year Ended December 31,
	2025			2024			2023
Expected term (in years)	1.2			1.3			1.2
Expected volatility	56.2		%	49.2		%	56.4		%
Risk-free interest rate	4.0		%	4.6		%	4.9		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	64.94		$	94.75		$	132.94

We recognized stock-based compensation related to our employee stock purchase plan of $15.1 million, $14.0 million and $20.5 million for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025, we expect to recognize $10.6 million of total unamortized compensation costs related to future employee stock purchases over a weighted average period of 0.6 years.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 15: 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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+ Details

Discontinued Operations and Disposal Groups	12 Months Ended
Discontinued Operations and Disposal Groups	Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	In connection with the 2025 Restructuring activities, refer to Note 17 “Restructuring and Other Charges”, we have undertaken additional actions to optimize our manufacturing footprint. These actions include disposing, either by sale or other than by sale, of certain capital assets, including various manufacturing assets and facilities. For discussion of assets disposed of other than by sale refer to Note 1 “Summary of Significant Accounting Policies." ASC Topic 360-10, Property, Plant and Equipment - Overall, requires a long-lived asset to be classified as “held for sale” in the period in which certain criteria are met. The Company classifies real estate assets as held for sale after the following conditions have been satisfied: (1) management, having the appropriate authority, commits to a plan to sell the asset, (2) the asset is available for immediate sale in its present condition, (3) the Company has initiated an active program to sell the asset, (4) it is probable the sale of the asset will be completed within one year, (5) the asset is being actively marketed for a reasonable price, and (6) it is unlikely the plan to sell the asset will significantly change. At the time the Company classifies a property as held for sale, the Company ceases recording depreciation. An asset classified as held for sale is measured and reported at the lower of its carrying amount or its estimated fair value less cost to sell. Upon classification as held for sale, the Company assesses fair value less costs to sell at each reporting period until the asset is no longer classified as held for sale. During the third quarter of 2025, the Company committed to a plan to sell a manufacturing facility, including land, building and building improvements (collectively the “disposal group”), located in Juarez, Mexico and determined the disposal group met the criteria for classification as held for sale. The Company classified the disposal group as held for sale for $27.9 million, which represents the disposal group’s fair value less estimated costs to sell. Fair value of the disposal group was determined utilizing two equally weighted valuation techniques, the Direct Capitalization and Direct Comparison methods. The Direct Capitalization method utilizes various inputs, including estimated market rents, vacancy rates and operating expenses, to determine an estimated net operating income, and a capitalization rate. The Direct Comparison method utilizes sales of comparable properties, adjusted for property differences such as location, physical characteristics and market conditions. For the year ended December 31, 2025, we recognized an impairment loss of $23.1 million on assets held for sale, which was recorded within Cost of net revenues in our Consolidated Statements of Operations. The entire impairment loss was attributable to our Clear Aligner reportable segment. As of December 31, 2025, we had adjusted assets held for sale of $28.0 million, which are presented separately as Assets held for sale in our Consolidated Balance Sheets. We had no assets held for sale as of December 31, 2024.

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Lessee Information

We have operating leases for our digital treatment planning and office facilities, retail spaces, vehicles and office equipment. The components of lease expense consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2025		2024		2023
Operating lease cost 1	$	43,401	$	42,299	$	44,614
Variable lease cost 2	4,054		3,630		16,013
Total lease cost	$	47,455	$	45,929	$	60,627

1 Includes expense associated with short term leases, lease terms of 12 months or less, which is not material.

2 Includes payments related to agreements with embedded leases that are not otherwise reflected on the balance sheet.

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2025		2024

Weighted average remaining lease term (in years)	5.1		5.4


Weighted average discount rate	4.1	%	3.8	%

As of December 31, 2025, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	35,694
2027	29,595
2028	23,986
2029	15,564
2030	7,212
Thereafter	13,060
Total lease payments	125,111
Less: Imputed interest	(10,665)
Total lease liabilities	$	114,446

As of December 31, 2025, we had additional leases that had not commenced with future lease payments of $58.4 million. These leases will commence during 2026 with non-cancelable lease terms of two to fourteen years.

Lessor Information

We lease iTero intraoral scanners to customers which are classified as operating leases. Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2025		2024
Scanners under operating leases, gross	$	55,576	$	33,770
Less: accumulated depreciation	(26,222)		(12,038)
Scanners under operating leases, net	$	29,354	$	21,732

As of December 31, 2025, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	33,898
2027	28,587
2028	8,736
2029	1,080

Thereafter	—
Total lease payments	$	72,301

For the years ended December 31, 2025, 2024 and 2023, operating lease income was $28.8 million, $21.7 million and $16.6 million, respectively. Operating lease income is recorded in Net revenues in our Consolidated Statements of Operations.

Leases

Lessee Information

We have operating leases for our digital treatment planning and office facilities, retail spaces, vehicles and office equipment. The components of lease expense consist of following (in thousands):


	Year Ended December 31,
Lease Cost	2025		2024		2023
Operating lease cost 1	$	43,401	$	42,299	$	44,614
Variable lease cost 2	4,054		3,630		16,013
Total lease cost	$	47,455	$	45,929	$	60,627

1 Includes expense associated with short term leases, lease terms of 12 months or less, which is not material.

2 Includes payments related to agreements with embedded leases that are not otherwise reflected on the balance sheet.

The following table provides a summary of our operating lease terms and discount rates:


	December 31,
Remaining Lease Term and Discount Rate	2025		2024

Weighted average remaining lease term (in years)	5.1		5.4


Weighted average discount rate	4.1	%	3.8	%

As of December 31, 2025, the future payments related to our operating lease liabilities are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	35,694
2027	29,595
2028	23,986
2029	15,564
2030	7,212
Thereafter	13,060
Total lease payments	125,111
Less: Imputed interest	(10,665)
Total lease liabilities	$	114,446

Lessor Information

We lease iTero intraoral scanners to customers which are classified as operating leases. Our portfolio of leased iTero scanners included in Property, plant and equipment, net are as follows:


	December 31,
	2025		2024
Scanners under operating leases, gross	$	55,576	$	33,770
Less: accumulated depreciation	(26,222)		(12,038)
Scanners under operating leases, net	$	29,354	$	21,732

As of December 31, 2025, the future lease payments due to us are as follows (in thousands):


Fiscal Year Ending December 31,	Operating Leases
2026	$	33,898
2027	28,587
2028	8,736
2029	1,080

Thereafter	—
Total lease payments	$	72,301

Income Taxes - Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Federal
Current	$ 52,962	$ 95,027	$ 134,332
Deferred	14,385	1,578	(16,805)
Total federal income tax expense	67,347	96,605	117,527
State
Current	13,977	13,702	28,535
Deferred	13,766	3,384	(3,157)
Total state tax expense	27,743	17,086	25,378
Foreign
Current	74,689	56,653	51,306
Deferred	5,157	17,253	1,940
Total foreign tax expense	79,846	73,906	53,246
Provision for income taxes	$ 174,936	$ 187,597	$ 196,151

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Net income before provision for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Domestic	$	280,926	$	334,485	$	315,643
Foreign	304,361		274,474		325,561
Net income before provision for income taxes	$	585,287	$	608,959	$	641,204

The provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Federal
Current	$	52,962	$	95,027	$	134,332
Deferred	14,385		1,578		(16,805)
	67,347		96,605		117,527
State
Current	13,977		13,702		28,535
Deferred	13,766		3,384		(3,157)
	27,743		17,086		25,378
Foreign
Current	74,689		56,653		51,306
Deferred	5,157		17,253		1,940
	79,846		73,906		53,246
Provision for (benefit from) income taxes	$	174,936	$	187,597	$	196,151

The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09:


	Year Ended December 31, 2025
	Amount		Percent
US federal statutory income tax rate	$	122,911	21.0	%
State income taxes, net of federal tax benefit*	25,901		4.4
Foreign tax effects
Switzerland
Statutory tax rate difference between Switzerland and U.S.	(11,536)		(2.0)
Canton tax	3,233		0.6
Swiss tax rate change - Remeasurement of deferred tax assets	15,136		2.6
Other	4,102		0.7
Mexico
Impairment Loss	7,111		1.2
Other	1,303		0.2
Other Foreign Jurisdictions	14,135		2.4
Effect of cross-border tax laws:
Subpart F	21,622		3.7
Foreign-derived intangible income	(13,611)		(2.3)
Other	825		0.2
Tax Credits
Research and development tax credits	(7,840)		(1.3)
Nontaxable or Nondeductible Items
Share-based payment awards	17,335		3.0
Other	3,219		0.5
Changes in Unrecognized Tax Benefits	(29,673)		(5.1)
Other Adjustments	763		0.1
Income Tax expense	$	174,936	29.9	%

*State and local taxes in California, New York, Minnesota and New York City made up the majority (greater than 50%) of the tax effect in this category.

The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company’s effective rate for the years ended December 31, 2024 and 2023 in accordance with the guidance prior to the adoption of ASU 2023-09:


	Year Ended December 31
	2024		2023
U.S. federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.2		2.9
U.S. tax on foreign earnings	5.4		3.7
Impact of differences in foreign tax rates	(2.0)		1.4
Stock-based compensation	3.4		3.0


Settlement on audits	—		0.1

Change in valuation allowance	0.9		(1.3)
Other items not individually material	(0.1)		(0.2)
Effective tax rate	30.8	%	30.6	%

As of December 31, 2025 and 2024, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	1,683	$	2,741
Reserves and accruals	61,496		67,221
Stock-based compensation	30,975		29,255
Deferred revenue	140,486		146,509
Capitalized research & development	23,021		32,027
Amortizable tax basis in intangibles	1,283,968		1,301,338


Other	649		12,282
Deferred tax assets before valuation allowance	1,542,278		1,591,373
Valuation allowance	(11,498)		(19,390)
Total deferred tax assets	1,530,780		1,571,983

Deferred tax liabilities:
Depreciation and amortization	$	11,610	$	16,485
Acquisition-related intangibles	16,357		28,868
Other	14,426		4,511
Total deferred tax liabilities	42,393		49,864
Net deferred tax assets	$	1,488,387	$	1,522,119

As of December 31, 2025, it was considered more likely than not that our deferred tax assets would be realized with the exception of certain interest expense carryovers, capital loss carryovers and unrealized translation losses as we are unable to forecast sufficient future profits to realize these deferred tax assets. The total valuation allowance as of December 31, 2025 was $11.5 million. During the year ended December 31, 2025, the valuation allowance decreased by $7.9 million primarily due to the change in deferred tax assets on certain interest expense and unrealized translation losses from our German subsidiaries. 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. This assessment includes deferred tax assets associated with our Switzerland tax deductible basis created from our 2020 intra-entity transfer of intellectual property, which have a finite utilization period and depend on our ability to generate sufficient taxable income in that jurisdiction. Any changes to the valuation allowance, particularly those related to our Switzerland deferred tax assets, could have a material adverse effect on our results of operations.

As of December 31, 2025, we have foreign net operating loss carryforwards of approximately $4.7 million, attributed mainly to losses in Russia and Germany. The losses in Germany can be carried forward indefinitely. The operating loss carryforwards in Russia, if not utilized, will expire beginning 2033.

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the years ended December 31, 2025, 2024 and 2023, are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Gross unrecognized tax benefits at January 1,	$	145,534	$	149,172	$	141,560
Increases related to tax positions taken during the current year	8,879		12,264		8,616

Increases related to tax positions taken during a prior year	1,288		2,031		5,647
Decreases related to tax positions taken during a prior year	(4,286)		(3,924)		(533)
Decreases related to expiration of statute of limitations	(33,988)		(14,009)		(3,654)
Decreases related to settlement with tax authorities	—		—		(2,464)
Gross unrecognized tax benefits at December 31,	$	117,427	$	145,534	$	149,172

The total amount of gross unrecognized tax benefits as of December 31, 2025 was $117.4 million, of which $111.9 million would impact our effective tax rate if recognized.

We file U.S. federal, U.S. state, and non-U.S. income tax returns. Our major tax jurisdictions include U.S. federal, the State of California and Switzerland. We are under IRS audit for U.S. federal tax returns from 2018 to 2020. For U.S state tax returns, we are no longer subject to tax examinations for years before 2020. With few exceptions, we are no longer subject to examination by other foreign tax authorities for years before 2017.

We have elected to recognize interest and penalties related to unrecognized tax benefits as a component of income taxes. Interest and penalties included in tax expense for the years ended December 31, 2025, 2024 and 2023 as well as accrued as of December 31, 2025 and 2024 were not material.

Disclosed below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirement of ASU 2023-09 for the year ended December 31, 2025:


	Year Ended December 31, 2025
United States - Federal	$	72,872
United States - State and local	13,792
Israel	7,291
Other foreign jurisdictions	40,798
Total income taxes paid	$	134,753

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 43,401	$ 42,299	$ 44,614
Variable lease cost	4,054	3,630	16,013
Total lease cost	$ 47,455	$ 45,929	$ 60,627

Credit Facility	12 Months Ended
Credit Facility	Dec. 31, 2025
Debt Disclosure [Abstract]
Credit Facility	Credit Facility We maintain a credit facility, as amended in December 2022, that includes a $300.0 million unsecured revolving line of credit and a $50.0 million letter of credit sub-limit. The facility matures on December 23, 2027 and loans under the facility accrue interest, at our election, based on either the Secured Overnight Financing Rate (“SOFR”) for the applicable period or a base rate, in each case plus an applicable margin. The facility includes financial covenants and performance requirements. As of December 31, 2025, we had no outstanding borrowings under the facility and were in compliance with the terms and conditions of the facility 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

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+ Details

Commitments and Contingencies (Details) - His Majesty's Revenue and Customs (HMRC) - USD ($) $ in Millions	Oct. 31, 2024	Mar. 31, 2024
Other Commitments [Line Items]
Cumulative assessments of unpaid value added tax		$ 100
Refund of assessment	$ 100

Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and benefits	$ 226,149	$ 248,003
Accrued expenses	61,049	66,391
Accrued income taxes	44,049	48,808
Current operating lease liabilities	29,941	37,617
Accrued sales and marketing expenses	31,939	31,063
Accrued property, plant and equipment	10,469	13,462
Other accrued liabilities	133,153	152,844
Total accrued liabilities	$ 536,749	$ 598,188
Current operating lease liabilities location	Total accrued liabilities	Total accrued liabilities

Legal Proceedings	12 Months Ended
Legal Proceedings	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings Antitrust Class Actions On June 5, 2020, a dental practice, 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 us 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 our motion for summary judgment on all claims brought by the plaintiffs. Plaintiffs have appealed the district court’s summary judgment ruling to the United States Court of Appeals for the Ninth Circuit. Oral argument was held on April 10, 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 since filed several amended complaints adding new plaintiffs and various state law claims. 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 our 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. Oral argument was held on April 10, 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. During the course of the Misty Snow lawsuit, some additional plaintiffs joined and filed allegations based on Section 1 of the Sherman Act. In June 2024, we reached a settlement in principle with the Section 1 plaintiffs to resolve all remaining claims in the Section 1 lawsuit. In March 2025, Align and plaintiffs agreed to a revised settlement to resolve all Section 1 claims for a $31.75 million cash payment. On November 21, 2025, the court granted final approval of the settlement and dismissed the case with prejudice. In 2025, Align issued a payment for the full settlement amount, $31.75 million, consisting of $27.5 million accrued as of December 31, 2024 and an additional loss accrual of $4.25 million in the first quarter of 2025, to an escrow agency in accordance with the court's approval. 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, (collectively the “Defendants”). The complaint asserted infringement of our 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 September 12, 2025, Defendants filed a motion to dismiss the amended complaint. That motion to dismiss remains pending. Defendants are also seeking to invalidate all of our asserted patents at the district court. On July 9, 2024, Defendants filed counterclaims against us alleging antitrust violations and unfair competition. Among other things, the counterclaims seek injunctive relief and money damages. On August 29, 2025, Defendants filed amended counterclaims, which additionally allege that Align procured certain materials patents by fraud. On September 26, 2025, Align filed a motion to dismiss the amended counterclaims. That motion is still pending. A trial in the case is set for June 22, 2026. On April 10, 12 and 14, 2025, Defendants filed eight inter partes review (“IPR”) petitions with the United States Patent Trial and Appeal Board (“PTAB”), alleging that eight of the patents asserted by Align against the Defendants are unpatentable. On October 23, 2025, the PTAB issued decisions denying institution of two of Defendants eight IPRs. On October 23, October 27, October 30, and November 6, 2025, the PTAB issued decisions instituting proceedings on the remaining six IPRs. We believe the petitions are without merit and intend to defend ourselves vigorously. We believe Defendants’ counterclaims are without merit and intend to vigorously defend ourselves. We are currently unable to predict the outcome of this lawsuit and cannot determine the likelihood of loss, if any, nor estimate a range of possible loss. Angelalign Litigation On August 15, 2025, we initiated two actions in the European Unified Patent Court against Angelalign Technology, Inc.; Angelalign France Technology SASU; Europe Angelalign Technology B.V.; Angelalign Technology (Germany) GmbH; Italy Angelalign Technology S.R.L. and Shanghai EA Medical Instruments Co., Ltd. These actions allege infringement of patents related to user interfaces for treatment planning and to the “power ridge” feature of clear aligners. Subsequently, on November 27, 2025, we initiated a third action in the Unified Patent Court against the same entities for infringement of a patent related to treatments in complex cases. The accused entities have challenged the validity of the asserted patent in each of these actions. On January 13, 2026, Angelalign Technology (Germany) GMBH filed an action in the European Patent Office challenging the validity of the treatment-planning patent referenced above. These actions are currently pending. On February 12, 2026, the Unified Patent Court issued a preliminary injunction in Align’s favor and against Angel, enjoining Angel from using its “Live Now” feature, a user interface for treatment planning. Angel must pay €20,000 EUR per day or cease offering its infringing software feature. On August 18, 2025, we initiated an action in the U.S. District Court for the Eastern District of Texas against Angelalign Technology Inc; Wuxi EA Medical Instruments Technologies Ltd.; Wuxi EA Bio-Tech Co., Ltd.; and Shanghai EA Medical Instruments Co., Ltd. This action alleges infringement of patents related to multilayer materials for clear aligners and “bite ramp” and “power ridge” features of clear aligners. On January 2, 2026, following institution of an investigation by the U.S. International Trade Commission, referenced below, this action was stayed pending further order of the court. On August 18, 2025, we initiated two actions in China’s Zhengzhou Intermediate People’s Court against Shanghai Angelalign Medical Devices Co., Ltd.; Wuxi Angelalign Medical Device Technology Co., Ltd.; and Wuxi Angelalign Biotechnology Co., Ltd. These actions allege infringement of patents related to tooth attachments and treatment planning. Separately, on September 10, 2025, we filed an action against the same entities in the Jinan Intermediate People’s Court alleging infringement of a patent related to extraction site closure. And on January 12, 2026, we filed an action against these entities in the Fuzhou Intermediate People’s Court alleging infringement of a patent related to extraction site closure. These actions are currently pending. On January 16, 2026, Shanghai Angelalign Medical Devices Co., Ltd. filed a petition with the China National Intellectual Property Administration (“CNIPA”) challenging the validity of our patent related to extraction site closure, which patent is the subject of an infringement action referenced above. On January 22, 2026, Shanghai Angelalign Medical Devices Co., Ltd. filed a petition with the CNIPA challenging the validity of our patent related to tooth attachments, which patent likewise is the subject of an infringement action referenced above. And on January 19, 2026, we filed a petition with the CNIPA challenging the validity of a patent held by Wuxi Angelalign Medical Device Technology Co., Ltd. regarding undercut detection and filling. These invalidity actions are currently pending. On September 23, 2025, we filed a complaint at the U.S. International Trade Commission (“ITC”) against Angelalign Technology Inc., Wuxi EA Medical Instruments Technologies Ltd.; Wuxi EA Bio-Tech Co., Ltd.; Shanghai EA Medical Instruments Co., Ltd.; and USA Angelalign Technology Corp. (collectively, “the ITC Respondents”). This complaint alleges unlawful importation and sale of clear aligners that infringe patents related to multilayer materials for clear aligners, in violation of 19 U.S.C.§ 1337. Further, the complaint requests that the ITC institute an investigation and issue an exclusion order blocking the ITC Respondents’ importation of infringing products into the United States, and a cease-and-desist order prohibiting the ITC Respondents from selling, marketing, or transferring infringing products within the United States. On December 19, 2025, the ITC instituted the requested investigation, which is currently pending. On August 22, 2025, Shanghai Angelalign Medical Devices Co., Ltd. and Wuxi Angelalign Medical Devices Technology Co., Ltd. initiated an action against us in China’s the Beijing Intellectual Property Court. The complaint alleges that we infringe a patent relating to undercut detection for mold manufacturing. We believe that these allegations are without merit and intend to defend ourselves vigorously. We are currently unable to predict the outcome of these lawsuits or any future litigation, and therefore we cannot determine the likelihood of loss, if any, 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.

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	$ 11,498	$ 19,390
Decrease in valuation allowance	(7,900)
Unrecognized tax benefits	117,427	$ 145,534	$ 149,172	$ 141,560
Unrecognized tax benefits that would impact effective tax rate	111,900
Foreign Country
Income Taxes [Line Items]
Net operating loss carryforwards	$ 4,700

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Schedule of Activity Relating to the Restructuring Liabilities

Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):


	For the twelve months ended December 31, 2024
	2023 Restructuring		2024 Restructuring		Total
Balance at beginning of period1	$	5,299	$	—	$	5,299
Restructuring and other charges	(598)		36,991		36,393
Cash payments and adjustments	(4,701)		(23,990)		(28,691)
Balance at end of period1	$	—	$	13,001	$	13,001
	For the twelve months ended December 31, 2025
	2024 Restructuring		2025 Restructuring2		Total
Balance at beginning of period1	$	13,001	$	—	$	13,001
Restructuring and other charges	2,056		40,888		42,944
Cash payments and adjustments	(14,569)		(23,776)		(38,345)
Balance at end of period1	$	488	$	17,112	$	17,600

1 Included in “Accrued liabilities” within our Consolidated Balance Sheets.

2 2025 restructuring activities include an immaterial amount of charges for non post-employment benefit related restructuring expense.

Stockholders' Equity - Summary of Nonvested Shares (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Shares Underlying RSUs
Nonvested beginning balance (shares)	1,019,000
Granted (shares)	692,000
Vested and released (shares)	(312,735)
Forfeited (shares)	(148,000)
Nonvested ending balance (shares)	1,250,000	1,019,000
Nonvested, beginning balance (usd per share)	$ 331.10
Granted (in usd per share)	195.43	$ 307.12	$ 316.16
Vested and released (usd per share)	354.77
Forfeited (usd per share)	274.34
Nonvested, ending balance (usd per share)	$ 256.80	$ 331.10
Weighted Remaining Vesting Period (in years)
Unvested	1 year 3 months 18 days
Aggregate Intrinsic Value
Unvested	$ 195,141

Common Stock Repurchase Programs

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Common Stock Repurchase Programs

We enter into Accelerated Share Repurchase (“ASR”) agreements and Open Market Repurchase (“OMR”) programs providing for the repurchase of our common stock based on the volume-weighted average price during the term of the agreement, less an agreed upon discount. Under the terms of each ASR, the financial institution may be required to deliver additional shares of common stock at final settlement or, under certain circumstances, we may be required at our election, to either deliver shares or make a cash payment to the financial institution. The ASRs limit the number of shares we would be required to deliver.

In January 2023, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“January 2023 Repurchase Program”). The January 2023 Repurchase Program was completed in its entirety in the second quarter of 2025.

In April 2025, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (the “April 2025 Repurchase Program”). The April 2025 Repurchase Program is expected to be completed over a period of up to three years. As of December 31, 2025, we have $831.2 million remaining available for repurchase under the April 2025 Repurchase Program.

The following tables summarize the total repurchases of our common stock pursuant to ASR agreements and OMR programs under the January 2023 and April 2025 Repurchase Programs for the years ended December 31, 2025 and 2024:

Accelerated Share Repurchases

Agreement
Date

Repurchase
Program

Amount Paid
(in millions)

Completion
Date

Total Shares
Received

Average Price per Share

Q4 2023

January 2023

250.0

Q1 2024

1,086,334

230.13

Open Market Repurchases


Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share
Q4 2023	January 2023	$	100.0	Q4 2023	465,518	$	214.81
Q2 2024	January 2023	$	150.0	Q2 2024	598,302	$	250.73
Q4 2024	January 2023	$	275.0	Q1 2025	1,241,509	$	221.50
Q1 2025	January 2023	$	225.0	Q2 2025	1,339,124	$	168.02
Q3 2025	April 2025	$	168.8	N/A1	1,203,883	$	140.22

1 On August 5, 2025, we initiated a $200 million open market repurchase program, which was completed in January 2026. The amount paid, total shares received and average price per share per the table above are determined as of December 31, 2025.

As of December 31, 2025, we had $831.2 million available for repurchases under the April 2025 Repurchase Program. In January 2026, we repurchased $31.2 million of our common stock initiated in the Q3 2025 open market repurchase program.

Segments and Geographical Information

12 Months Ended

Dec. 31, 2025

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. We group our operations into two reportable segments: Clear Aligner segment and Imaging Systems and CAD/CAM services (“Systems and Services”) segment, which are based on our predominant product lines.

Our CODM uses gross profit and income from operations to assess each reportable segment’s performance, by reviewing each measure against internal forecasts and historical performance. Our CODM may also benchmark each segment’s performance against our competitors and external expectations.

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


	Year Ended December 31,
	2025		2024		2023
Net revenues

Clear Aligner	$	3,245,404	$	3,230,122	$	3,199,329
Systems and Services	789,560		768,890		662,931



Total net revenues	$	4,034,964	$	3,999,012	$	3,862,260
Cost of net revenues1
Clear Aligner	$	1,058,893	$	952,136	$	911,291
Systems and Services	265,058		247,717		244,106
Total cost of goods sold	$	1,323,951	$	1,199,853	$	1,155,397
Gross profit
Clear Aligner	$	2,186,511	$	2,277,986	$	2,288,038
Systems and Services	524,502		521,173		418,825
Total gross profit	$	2,711,013	$	2,799,159	$	2,706,863
Other Segment expenses
Clear Aligner	$	1,151,720	$	1,135,782	$	1,105,781
Systems and Services	218,412		251,951		227,470
Unallocated corporate expenses	795,126		803,798		730,274
Total operating expenses	$	2,165,258	$	2,191,531	$	2,063,525
Segment income from operations
Clear Aligner	$	1,034,791	$	1,142,204	$	1,182,257
Systems and Services	306,090		269,222		191,355

Total segment income from operations	$	1,340,881	$	1,411,426	$	1,373,612

1 Management has identified Cost of net revenues as a significant expense for our Clear Aligner and Systems and Services reportable segments.

Other segment expenses typically include employee related costs, marketing and advertising costs, and depreciation and amortization expense incurred by various functions including selling, marketing, general and administrative and research and development. Our CODM does not regularly receive these operating expenses at the reportable segment level.

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.

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


	Year Ended December 31,
	2025		2024		2023
Total segment income from operations	$	1,340,881	$	1,411,426	$	1,373,612
Unallocated corporate expenses	(795,126)		(803,798)		(730,274)
Total income from operations	545,755		607,628		643,338
Interest income	16,045		20,218		17,258
Other income (expense), net	23,487		(18,887)		(19,392)
Net income before provision for income taxes	$	585,287	$	608,959	$	641,204

The following table includes certain non-cash expenses for each reportable segment (in thousands):


	Year Ended December 31,
	2025		2024		2023
Stock-based compensation
Clear Aligner	$	23,883	$	22,888	$	13,963
Systems and Services	1,525		1,595		1,293
Unallocated corporate expenses	160,462		149,220		138,770
Total stock-based compensation	$	185,870	$	173,703	$	154,026
Depreciation and amortization
Clear Aligner	$	151,565	$	67,450	$	64,781
Systems and Services	39,513		30,998		31,518
Unallocated corporate expenses	46,358		46,586		46,102
Total depreciation and amortization	$	237,436	$	145,034	$	142,401

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):


	Year Ended December 31,
	2025		2024		2023
Net revenues 1:
U.S.	$	1,661,185	$	1,695,696	$	1,665,925
Switzerland	920,588		983,629		1,168,320
Other International	1,453,191		1,319,687		1,028,015
Total net revenues	$	4,034,964	$	3,999,012	$	3,862,260

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

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):


	December 31,
	2025		2024
Long-lived assets 1:
Switzerland	$	493,584	$	571,628
U.S.	200,343		207,689
Other International	545,848		605,193
Total long-lived assets	$	1,239,775	$	1,384,510

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

Schedule II: Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2025

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II: Valuation and Qualifying Accounts and Reserves

SCHEDULE II: VALUATION AND QUALIFYING ACCOUNTS AND RESERVES


	Balance at Beginning of Period		Additions (Reductions) to Costs and Expenses		Write Offs		Balance at End of Period
	(in thousands)
Allowance for doubtful accounts:
Year Ended December 31, 2023	$	10,343	$	8,002	$	(3,452)	$	14,893
Year Ended December 31, 2024	$	14,893	$	8,282	$	(4,044)	$	19,131
Year Ended December 31, 2025	$	19,131	$	18,738	$	(3,656)	$	34,213
Valuation allowance for deferred tax assets:
Year Ended December 31, 2023	$	23,286	$	(8,295)	$	—	$	14,991
Year Ended December 31, 2024	$	14,991	$	4,399	$	—	$	19,390
Year Ended December 31, 2025	$	19,390	$	(7,892)	$	—	$	11,498

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Inventory write-down	$ 14,900
Depreciation	218,600	$ 126,200	$ 126,000
Net revenues	4,034,964	3,999,012	$ 3,862,260
Revenue recognized, included in the deferred revenues in prior period	840,500	$ 819,000
Service Life \| Specifically Identified Manufacturing Assets
Property, Plant and Equipment [Line Items]
Depreciation	$ 76,900

- Definition

+ References

+ Details

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Gross Carrying Amount	$ 178,431	$ 185,231
Accumulated Amortization	(87,871)	(71,852)
Accumulated Impairment Loss	0	(4,122)
Total	90,560	109,257
Foreign currency translation adjustments	3,373	(5,769)
Total	$ 93,933	$ 103,488
Existing technology
Finite-Lived Intangible Assets [Line Items]
Useful life	11 years	11 years
Gross Carrying Amount	$ 146,651	$ 146,651
Accumulated Amortization	(67,138)	(52,238)
Accumulated Impairment Loss	0	0
Total	$ 79,513	$ 94,413
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years	10 years
Gross Carrying Amount	$ 21,500	$ 21,500
Accumulated Amortization	(12,363)	(10,079)
Accumulated Impairment Loss	0	0
Total	$ 9,137	$ 11,421
Trademarks and tradenames1
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years	10 years
Gross Carrying Amount	$ 9,800	$ 16,600
Accumulated Amortization	(8,050)	(9,255)
Accumulated Impairment Loss	0	(4,122)
Total	$ 1,750	$ 3,223
Patents
Finite-Lived Intangible Assets [Line Items]
Useful life	12 years	12 years
Gross Carrying Amount	$ 480	$ 480
Accumulated Amortization	(320)	(280)
Accumulated Impairment Loss	0	0
Total	$ 160	$ 200

Business Combination - Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Jan. 02, 2024	Dec. 31, 2023
Business Combination [Line Items]
Goodwill	$ 491,833	$ 442,630		$ 419,530
Cubicure
Business Combination [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

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

- 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.

+ References

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+ Details

Legal Proceedings (Details) € in Thousands, $ in Thousands				1 Months Ended	3 Months Ended	12 Months Ended
Legal Proceedings (Details) € in Thousands, $ in Thousands	Feb. 12, 2026 EUR (€)	Aug. 18, 2025 action	Aug. 15, 2025 action	Jun. 30, 2024 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)	Nov. 06, 2025 patent	Oct. 27, 2025 patent	Oct. 23, 2025 patent	Apr. 14, 2025 patent	Apr. 12, 2025 patent	Apr. 10, 2025 patent	Dec. 31, 2024 USD ($)
Antitrust Class Actions
Loss Contingencies [Line Items]
Settlement amount \| $				$ 31,750
Amount accrued during period \| $					$ 4,250	$ 31,750
Loss Contingency Accrual \| $													$ 27,500
Straumann Litigation
Loss Contingencies [Line Items]
Loss Contingency, Number Of Patents Allegedly Unpatentable \| patent										8	8	8
Loss Contingency, Number Of Patents Allegedly Unpatentable, Denied \| patent									2
Loss Contingency, Number Of Patents Allegedly Unpatentable, Pending \| patent							6	6	6
Angelalign Technology, Inc. Actions
Loss Contingencies [Line Items]
Gain Contingency, Number Of Actions \| action		2	2
Angelalign Technology, Inc. Actions \| Subsequent Event
Loss Contingencies [Line Items]
Loss Contingency, Damages Paid, Value \| €	€ 20

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating leases not yet commenced, future lease payments	$ 58.4
Operating lease income	$ 28.8	$ 21.7	$ 16.6
Operating lease income, location	Net revenues	Net revenues	Net revenues
Minimum
Lessee, Lease, Description [Line Items]
Operating leases not yet commenced, term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Operating leases not yet commenced, term	14 years

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Net income before provision for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Domestic	$	280,926	$	334,485	$	315,643
Foreign	304,361		274,474		325,561
Net income before provision for income taxes	$	585,287	$	608,959	$	641,204

Schedule of Components of Income Tax Expense (Benefit)

The provision for (benefit from) income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Federal
Current	$	52,962	$	95,027	$	134,332
Deferred	14,385		1,578		(16,805)
	67,347		96,605		117,527
State
Current	13,977		13,702		28,535
Deferred	13,766		3,384		(3,157)
	27,743		17,086		25,378
Foreign
Current	74,689		56,653		51,306
Deferred	5,157		17,253		1,940
	79,846		73,906		53,246
Provision for (benefit from) income taxes	$	174,936	$	187,597	$	196,151

Schedule of Effective Income Tax Rate Reconciliation


	Year Ended December 31, 2025
	Amount		Percent
US federal statutory income tax rate	$	122,911	21.0	%
State income taxes, net of federal tax benefit*	25,901		4.4
Foreign tax effects
Switzerland
Statutory tax rate difference between Switzerland and U.S.	(11,536)		(2.0)
Canton tax	3,233		0.6
Swiss tax rate change - Remeasurement of deferred tax assets	15,136		2.6
Other	4,102		0.7
Mexico
Impairment Loss	7,111		1.2
Other	1,303		0.2
Other Foreign Jurisdictions	14,135		2.4
Effect of cross-border tax laws:
Subpart F	21,622		3.7
Foreign-derived intangible income	(13,611)		(2.3)
Other	825		0.2
Tax Credits
Research and development tax credits	(7,840)		(1.3)
Nontaxable or Nondeductible Items
Share-based payment awards	17,335		3.0
Other	3,219		0.5
Changes in Unrecognized Tax Benefits	(29,673)		(5.1)
Other Adjustments	763		0.1
Income Tax expense	$	174,936	29.9	%

*State and local taxes in California, New York, Minnesota and New York City made up the majority (greater than 50%) of the tax effect in this category.


	Year Ended December 31
	2024		2023
U.S. federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.2		2.9
U.S. tax on foreign earnings	5.4		3.7
Impact of differences in foreign tax rates	(2.0)		1.4
Stock-based compensation	3.4		3.0


Settlement on audits	—		0.1

Change in valuation allowance	0.9		(1.3)
Other items not individually material	(0.1)		(0.2)
Effective tax rate	30.8	%	30.6	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2025 and 2024, the significant components of our deferred tax assets and liabilities are (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	1,683	$	2,741
Reserves and accruals	61,496		67,221
Stock-based compensation	30,975		29,255
Deferred revenue	140,486		146,509
Capitalized research & development	23,021		32,027
Amortizable tax basis in intangibles	1,283,968		1,301,338


Other	649		12,282
Deferred tax assets before valuation allowance	1,542,278		1,591,373
Valuation allowance	(11,498)		(19,390)
Total deferred tax assets	1,530,780		1,571,983

Deferred tax liabilities:
Depreciation and amortization	$	11,610	$	16,485
Acquisition-related intangibles	16,357		28,868
Other	14,426		4,511
Total deferred tax liabilities	42,393		49,864
Net deferred tax assets	$	1,488,387	$	1,522,119

Schedule of Unrecognized Tax Benefits Rollforward

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the years ended December 31, 2025, 2024 and 2023, are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Gross unrecognized tax benefits at January 1,	$	145,534	$	149,172	$	141,560
Increases related to tax positions taken during the current year	8,879		12,264		8,616

Increases related to tax positions taken during a prior year	1,288		2,031		5,647
Decreases related to tax positions taken during a prior year	(4,286)		(3,924)		(533)
Decreases related to expiration of statute of limitations	(33,988)		(14,009)		(3,654)
Decreases related to settlement with tax authorities	—		—		(2,464)
Gross unrecognized tax benefits at December 31,	$	117,427	$	145,534	$	149,172

Schedule of Income Tax Paid

Disclosed below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirement of ASU 2023-09 for the year ended December 31, 2025:


	Year Ended December 31, 2025
United States - Federal	$	72,872
United States - State and local	13,792
Israel	7,291
Other foreign jurisdictions	40,798
Total income taxes paid	$	134,753

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


	Year Ended December 31,
	2025		2024		2023
Taxes paid	$	134,753	$	177,082	$	294,569
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	16,592	$	18,974	$	32,280
Final settlement of prior year stock repurchase forward contract	$	—	$	50,000	$	40,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	39,856	$	39,526	$	33,714
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	22,291	$	32,671	$	27,901

Goodwill and Intangible Assets - Change in the Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Goodwill [Roll Forward]
Beginning Balance	$ 442,630	$ 419,530
Additions from acquisition		47,576
Foreign currency translation adjustments	49,203	(24,476)
Ending Balance	491,833	442,630
Clear Aligner
Goodwill [Roll Forward]
Beginning Balance	152,645	111,086
Additions from acquisition		47,576
Foreign currency translation adjustments	11,610	(6,017)
Ending Balance	164,255	152,645
Systems and Services
Goodwill [Roll Forward]
Beginning Balance	289,985	308,444
Additions from acquisition		0
Foreign currency translation adjustments	37,593	(18,459)
Ending Balance	$ 327,578	$ 289,985

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Income Taxes - Domestic and Foreign Components of Income (loss) Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ 280,926	$ 334,485	$ 315,643
Foreign	304,361	274,474	325,561
Net income before provision for income taxes	$ 585,287	$ 608,959	$ 641,204

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-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Jose, California
Auditor Firm ID	238

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Financial Instruments

12 Months Ended

Dec. 31, 2025

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 balances recorded in our Consolidated Balance Sheets as of December 31, 2025 and 2024 (in thousands):


									Reported as:
December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	770,051	$	—	$	—	$	770,051	$	770,051
Money market funds	308,940		—		—		308,940		308,940





Certificates of deposit	15,917		—		—		15,917		15,917
Total	$	1,094,908	$	—	$	—	$	1,094,908	$	1,094,908


									Reported as:
December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	752,423	$	—	$	—	$	752,423	$	752,423
Money market funds	291,464		—		—		291,464		291,464





Total	$	1,043,887	$	—	$	—	$	1,043,887	$	1,043,887

We had no short-term or long-term marketable securities as of December 31, 2025 or 2024.

Fair Value Measurements

The following tables summarize our financial assets measured at fair value as of December 31, 2025 and 2024 (in thousands):


Description	Balance as of December 31, 2025		Level 1
Cash equivalents:
Money market funds	$	308,940	$	308,940
Certificate of deposits	15,917		15,917
















	$	324,857	$	324,857


Description	Balance as of December 31, 2024		Level 1
Cash equivalents:
Money market funds	$	291,464	$	291,464
















	$	291,464	$	291,464

We had no financial assets that were categorized as level 2 or level 3 in the fair value hierarchy for the years ended December 31, 2025 or 2024.

Derivatives Not Designated as Hedging Instruments

Recurring foreign currency forward contracts

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 $34.2 million during the year ended December 31, 2025, a net gain of $35.2 million during the year ended December 31, 2024 and a net loss of $15.9 million during the year ended December 31, 2023. Recognized gains and losses from the settlement of foreign currency forward contracts are recorded in Other income (expense), net in our Consolidated Statements of Operations. As of December 31, 2025 and 2024, the fair value of foreign exchange forward contracts outstanding was not material.

The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2025 and 2024 (in thousands):


	December 31, 2025
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€183,700	$	215,895
Canadian Dollar	C$90,000	65,802
British Pound	£38,500	51,782
Polish Zloty	PLN174,800	48,605
Israeli Shekel	ILS80,500	25,283
Japanese Yen	¥3,200,000	20,447
Brazilian Real	R$63,500	11,440
Chinese Yuan	¥52,000	7,461
Swiss Franc	CHF4,200	5,316
New Taiwan Dollar	NT$121,500	3,851
New Zealand Dollar	NZ$6,020	3,474
Korean Won	₩4,600,000	3,207
Australian Dollar	A$3,500	2,337
Czech Koruna	Kč26,000	1,262

Total notional contract amount		$	466,162


	December 31, 2024
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€176,080	$	183,172
Polish Zloty	PLN283,000	68,633
Canadian Dollar	C$97,000	67,446
British Pound	£37,600	47,090
Israeli Shekel	ILS90,055	24,740
Chinese Yuan	¥164,500	22,417
Brazilian Real	R$83,100	13,327
Japanese Yen	¥2,000,000	12,778

Swiss Franc	CHF5,700	6,314
New Zealand Dollar	NZ$7,000	3,924
Czech Koruna	Kč72,800	3,004
Australian Dollar	A$3,800	2,355
New Taiwan Dollar	NT$58,700	1,786
Korean Won	₩2,000,000	1,361
Total notional contract amount		$	458,347

Stockholders' Equity - Weighted-Average Assumptions Used for MSUs (Details) - Market Performance Based Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	3 years	3 years	3 years
Expected volatility	51.50%	52.00%	59.10%
Risk-free interest rate	4.20%	4.30%	4.30%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value per share at grant date (usd per share)	$ 362.98	$ 617.79	$ 629.53

- 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/disclosureRef
-Topic 718
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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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
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: 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
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segments and Geographical Information - Non-Cash Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Stock-based compensation	$ 185,870	$ 173,703	$ 154,026
Depreciation and amortization	237,436	145,034	142,401
Operating Segments \| Clear Aligner
Segment Reporting Information [Line Items]
Stock-based compensation	23,883	22,888	13,963
Depreciation and amortization	151,565	67,450	64,781
Operating Segments \| Systems and Services
Segment Reporting Information [Line Items]
Stock-based compensation	1,525	1,595	1,293
Depreciation and amortization	39,513	30,998	31,518
Unallocated corporate expense
Segment Reporting Information [Line Items]
Stock-based compensation	160,462	149,220	138,770
Depreciation and amortization	$ 46,358	$ 46,586	$ 46,102

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2025
Compensation Related Costs [Abstract]
Employee Benefit Plans	Employee Benefit Plans We have a defined contribution retirement plan as defined in Section 401(k) of the Internal Revenue Code for our U.S. employees which covers substantially all U.S. employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. We match 50% of our employee’s salary deferral contributions up to 6% of the employee’s eligible compensation. We contributed approximately $9.7 million, $10.0 million and $9.5 million to the 401(k) plan during the years ended December 31, 2025, 2024 and 2023, respectively. We also have defined contribution retirement plans outside of the U.S. to which we contributed $59.9 million, $57.4 million and $55.1 million during the years ended December 31, 2025, 2024 and 2023, respectively.

Restructuring and Other Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring reserve		$ 17,600	$ 13,001	$ 5,299
2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring expenses				14,000
Restructuring reserve			0	5,299
2024 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		2,100	37,000
Restructuring reserve		488	13,001	$ 0
Restructuring reserve, period increase (decrease)		14,600
2025 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 40,900
Restructuring reserve		17,112	$ 0
2025 Restructuring \| Cost of net revenues
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 5,500
Restructuring expenses, location		Cost of net revenues
2025 Restructuring \| Restructuring and other charges
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 35,400
Restructuring expenses, location		Restructuring and other charges

Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 27,983	$ 0
Impairment loss on Assets held for sale	23,142	$ 0	$ 0
Juarez, Mexico Manufacturing Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale				$ 27,900
Impairment loss on Assets held for sale	$ 23,100

Common Stock Repurchase Programs (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Accelerated Stock Repurchases

Accelerated Share Repurchases

Agreement
Date

Repurchase
Program

Amount Paid
(in millions)

Completion
Date

Total Shares
Received

Average Price per Share

Q4 2023

January 2023

250.0

Q1 2024

1,086,334

230.13

Open Market Common Stock Repurchases

Open Market Repurchases


Agreement Date	Repurchase Program	Amount Paid (in millions)		Completion Date	Total Shares Received	Average Price per Share
Q4 2023	January 2023	$	100.0	Q4 2023	465,518	$	214.81
Q2 2024	January 2023	$	150.0	Q2 2024	598,302	$	250.73
Q4 2024	January 2023	$	275.0	Q1 2025	1,241,509	$	221.50
Q1 2025	January 2023	$	225.0	Q2 2025	1,339,124	$	168.02
Q3 2025	April 2025	$	168.8	N/A1	1,203,883	$	140.22

Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 1,898,777	$ 1,932,846
Less: Accumulated depreciation and impairment charges	(767,324)	(661,712)
Total property, plant and equipment, net	1,131,453	1,271,134
Clinical and manufacturing equipment
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 848,473	871,827
Building
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 524,608	529,716
Leasehold improvements
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 67,402	62,172
Computer software and hardware
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 120,608	135,756
Land
Property, Plant and Equipment, Net [Abstract]
Property and equipment	57,868	63,875
Furniture, fixtures and other
Property, Plant and Equipment, Net [Abstract]
Property and equipment	151,874	135,816
Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property and equipment	$ 127,944	$ 133,684
Minimum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	2 years
Maximum \| Clinical and manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated useful life	13 years
Maximum \| Furniture, fixtures and other
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):


	December 31,
	2025		2024
Raw materials	$	107,296	$	124,377
Work in process	65,679		73,660
Finished goods	53,368		56,250
Total inventories	$	226,343	$	254,287

Schedule of Prepaid Expenses and Other Current Assets

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


	December 31,
	2025		2024
Value added tax receivables 1	$	55,819	$	34,028
Prepaid expenses	62,478		82,978
Other current assets	47,274		81,576
Total prepaid expenses and other current assets	$	165,571	$	198,582

1 Refer to Note 9 “Commitments and Contingencies” of the Notes to Consolidated Financial Statements for discussion of tax matter.

Property, Plant and Equipment

Property, plant and equipment, net consist of the following (in thousands):


		December 31,
	Generally Used Estimated Useful Life	2025		2024
Clinical and manufacturing equipment	Up to 13 years	$	848,473	$	871,827
Building	20 years	524,608		529,716
Leasehold improvements	Lease term 1	67,402		62,172
Computer software and hardware	3 years	120,608		135,756
Land	—	57,868		63,875
Furniture, fixtures and other	2-5 years	151,874		135,816
Construction in progress	—	127,944		133,684
Total		1,898,777		1,932,846
Less: Accumulated depreciation and impairment charges		(767,324)		(661,712)
Total property, plant and equipment, net		$	1,131,453	$	1,271,134

1 Shorter of the remaining lease term or the estimated useful lives of the assets.

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2025		2024
Accrued payroll and benefits	$	226,149	$	248,003
Accrued expenses	61,049		66,391
Accrued income taxes	44,049		48,808
Current operating lease liabilities	31,939		31,063
Accrued sales and marketing expenses	29,941		37,617
Accrued property, plant and equipment	10,469		13,462

Other accrued liabilities	133,153		152,844
Total accrued liabilities	$	536,749	$	598,188

Warranty accrual

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


Balance as of December 31, 2023	$	22,426
Charged to cost of net revenues	21,962

Actual warranty expenditures	(13,177)
Balance as of December 31, 2024	31,211
Charged to cost of net revenues	5,333
Actual warranty expenditures	(12,133)
Balance as of December 31, 2025	$	24,411

Deferred Revenues

Deferred revenues consist of the following (in thousands):


	December 31,
	2025		2024
Deferred revenues - current	$	1,261,816	$	1,331,146
Deferred revenues - long-term 1	85,543		102,164

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

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The change in the carrying value of goodwill for the years ended December 31, 2025 and 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	(6,017)		(18,459)		(24,476)
Balance as of December 31, 2024	152,645		289,985		442,630

Foreign currency translation adjustments	11,610		37,593		49,203
Balance as of December 31, 2025	$	164,255	$	327,578	$	491,833

We completed our annual goodwill impairment assessment in 2025 and 2024 and determined there were no impairments.

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 December 31, 2025		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2025
Existing technology	11	$	146,651	$	(67,138)	$	—	$	79,513
Customer relationships	10	21,500		(12,363)		—		9,137
Trademarks and tradenames1	7	9,800		(8,050)		—		1,750
Patents	12	480		(320)		—		160
		$	178,431	$	(87,871)	$	—	$	90,560
Foreign currency translation adjustments								3,373
Total intangible assets, net								$	93,933

1 The Weighted Average Amortization Period decreased from 10 years to 7 years due to an intangible asset with a useful life of 15 years becoming fully amortized in 2025.


	Weighted Average Amortization Period (in years)	Gross Carrying Amount as of December 31, 2024		Accumulated Amortization		Accumulated Impairment Loss		Net Carrying Value as of December 31, 2024
Existing technology	11	$	146,651	$	(52,238)	$	—	$	94,413
Customer relationships	10	21,500		(10,079)		—		11,421
Trademarks and tradenames	10	16,600		(9,255)		(4,122)		3,223
Patents	12	480		(280)		—		200
		$	185,231	$	(71,852)	$	(4,122)	$	109,257
Foreign currency translation adjustments								(5,769)
Total intangible assets, net								$	103,488

Of the $146.7 million recorded as Existing technology intangible assets as of December 31, 2025, $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 December 31, 2024. Refer to Note 5 “Business Combination”.

For the years ended December 31, 2025 and 2024, we did not identify any impairment triggering events that would indicate that the carrying value of our finite-lived intangible assets was not recoverable.

The total estimated future amortization expense for these acquired finite-lived intangible assets as of December 31, 2025 is as follows (in thousands):


Fiscal Year	Amortization
2026	$	17,922
2027	15,607
2028	14,505
2029	14,505
2030	6,328
Thereafter	21,693
Total	$	90,560

Amortization expense was $18.8 million, $18.9 million and $16.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Leases - Property, Plant and Equipment Under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Scanners under operating leases, gross	$ 55,576	$ 33,770
Less: accumulated depreciation	(26,222)	(12,038)
Scanners under operating leases, net	$ 29,354	$ 21,732

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amortized Cost
Cash, cash equivalents and marketable securities	$ 1,094,908	$ 1,043,887
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	0	0
Fair Value
Cash and cash equivalents	1,094,908	1,043,887
Cash, cash equivalents and marketable securities	1,094,908	1,043,887
Cash
Amortized Cost
Cash and cash equivalents	770,051	752,423
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	0	0
Fair Value
Cash and cash equivalents	770,051	752,423
Cash and cash equivalents
Fair Value
Cash, cash equivalents and marketable securities	1,094,908	1,043,887
Cash and cash equivalents \| Cash
Fair Value
Cash and cash equivalents	770,051	752,423
Money market funds
Amortized Cost
Cash and cash equivalents	308,940	291,464
Gross Unrealized Gains
Marketable securities	0	0
Gross Unrealized Losses
Marketable securities	0	0
Fair Value
Cash and cash equivalents	308,940	291,464
Money market funds \| Cash and cash equivalents
Fair Value
Cash and cash equivalents	308,940	$ 291,464
Certificates of deposit
Amortized Cost
Cash and cash equivalents	15,917
Gross Unrealized Gains
Marketable securities	0
Gross Unrealized Losses
Marketable securities	0
Fair Value
Cash and cash equivalents	15,917
Certificates of deposit \| Cash and cash equivalents
Fair Value
Cash and cash equivalents	$ 15,917

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2010 period	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares	May 31, 2021 shares
Stockholders Equity Note [Line Items]
Stock-based compensation, income tax benefit \| $		$ 20,000	$ 19,000	$ 17,100
Number of purchase periods \| period	4
Stock-based compensation expense \| $		$ 185,870	173,703	154,026
Restricted Stock Units (RSUs)
Stockholders Equity Note [Line Items]
Vesting period		4 years
Restricted stock units, shares vested and released (shares)		312,735
Restricted stock units, shares withheld for tax payments		90,466
Restricted stock units, net issuance (in shares)		222,269
Vested in period, Fair value \| $		$ 61,100	$ 78,800	$ 63,000
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 195.43	$ 307.12	$ 316.16
Total unamortized compensation cost \| $		$ 191,900
Weighted average period of total unamortized cost		2 years 3 months 18 days
Market Performance Based Restricted Stock Units
Stockholders Equity Note [Line Items]
Vesting period		3 years
Restricted stock units, shares vested and released (shares)		29,995
Restricted stock units, shares withheld for tax payments		11,091
Restricted stock units, net issuance (in shares)		18,904
Vested in period, Fair value \| $		$ 5,700	$ 10,100	$ 7,800
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 362.98
Total unamortized compensation cost \| $		$ 44,900
Weighted average period of total unamortized cost		1 year 3 months 18 days
Percentage of market-performance based restricted stock units eligible to vest over the vesting period		250.00%
Restricted Stock Units with Performance Conditions (PSUs)
Stockholders Equity Note [Line Items]
Restricted stock units, shares vested and released (shares)		4,728
Restricted stock units, shares withheld for tax payments		1,923
Restricted stock units, net issuance (in shares)		2,805
Weighted average grant date fair value of awards granted (usd per share) \| $ / shares		$ 0
Total unamortized compensation cost \| $		$ 500
Weighted average period of total unamortized cost		1 year
Employee Stock
Stockholders Equity Note [Line Items]
Number of shares available for grant (shares)		1,728,664
Total unamortized compensation cost \| $		$ 10,600
Weighted average period of total unamortized cost		7 months 6 days
Total of all purchase periods	24 months
Purchase period	6 months
Purchase price of shares, percent of fair market value	85.00%
Number of shares reserved for issuance (in shares)					4,400,000
Stock-based compensation expense \| $		$ 15,100	$ 14,000	$ 20,500
Stock Incentive Plan 2005
Stockholders Equity Note [Line Items]
Share award ratio		1.9
Number of shares reserved for issuance (in shares)		34,668,895
Number of shares available for grant (shares)		4,608,476

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 410,351	$ 421,362	$ 445,053
Other comprehensive income (loss):
Net change in foreign currency translation adjustment	69,410	(15,786)	28,419
Change in unrealized gains on investments, net of tax	0	596	3,033
Other comprehensive income (loss)	69,410	(15,190)	31,452
Comprehensive income	$ 479,761	$ 406,172	$ 476,505

- 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

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+ Details

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income	$ 410,351	$ 421,362	$ 445,053
Denominator:
Weighted-average common shares outstanding, basic (shares)	72,542	74,877	76,426
Dilutive effect of potential common stock (shares)	46	116	142
Total shares, diluted (shares)	72,588	74,993	76,568
Net income per share, basic (usd per share)	$ 5.66	$ 5.63	$ 5.82
Net income per share, diluted (usd per share)	$ 5.65	$ 5.62	$ 5.81
Anti-dilutive potential common shares (shares)	1,239	685	293
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (shares)	1,239	685	293
Restricted Stock Units (RSUs)
Denominator:
Anti-dilutive potential common shares (shares)	1,238	685	263
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (shares)	1,238	685	263
Employee Stock
Denominator:
Anti-dilutive potential common shares (shares)	1		30
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares (shares)	1		30

Common Stock Repurchase Programs - Accelerated Share Repurchase Agreements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share Repurchases [Line Items]
Amount paid		$ 465,939	$ 352,878	$ 592,360
January 2023 Accelerated Share Repurchase Program \| Q4 2023
Share Repurchases [Line Items]
Amount paid	$ 250,000
Common stock repurchased and retired (in shares)	1,086,334
Cost per share (in dollars per share)	$ 230.13

Leases - Lease Payments Due (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 33,898
2027	28,587
2028	8,736
2029	1,080
Thereafter	0
Total lease payments	$ 72,301

Stockholders' Equity - ESPP Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Number of shares issued (in thousands)	147	120	114
Weighted average price (usd per share)	$ 148.77	$ 213.11	$ 234.19

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands			6 Months Ended	12 Months Ended
	Apr. 22, 2024 USD ($)	Apr. 24, 2023 USD ($)	Jun. 05, 2025 USD ($)	Dec. 31, 2025 USD ($) segment $ / shares	Dec. 31, 2024 USD ($) $ / shares	Apr. 22, 2024 USD ($)	Dec. 31, 2023 USD ($) $ / shares
Significant Accounting Policies [Line Items]
Number of operating segments \| segment				2
Purchase of equity investment				$ 10,000	$ 106,345		$ 76,999
Foreign currency net losses				(11,300)	21,000		7,000
Accounts receivable sold under factoring arrangements				47,900	52,100
Depreciation				218,600	126,200		126,000
Net Income (Loss)				$ (410,351)	$ (421,362)		$ (445,053)
Earnings Per Share, Basic \| $ / shares				$ (5.66)	$ (5.63)		$ (5.82)
Diluted (usd per share) \| $ / shares				$ (5.65)	$ (5.62)		$ (5.81)
Capitalized computer software, gross				$ 38,500	$ 23,100
Costs to obtain contracts				29,200	25,800
Amortization of costs to obtain contracts				15,600	18,700		$ 12,500
Revenue remaining performance obligation				1,352,700	1,444,900
Advertising cost				188,700	185,000		$ 201,200
Service Life \| Specifically Identified Manufacturing Assets
Significant Accounting Policies [Line Items]
Depreciation				76,900
Net Income (Loss)				$ 53,900
Earnings Per Share, Basic \| $ / shares				$ 0.74
Diluted (usd per share) \| $ / shares				$ 0.74
Heartland
Significant Accounting Policies [Line Items]
Equity interest		5.00%
Purchase of equity investment	$ 75,000	$ 75,000				$ 150,000
Increase to carrying value of equity investments				$ 18,000	$ 6,000
Equity Method Investments				$ 174,000
SD Holding Company
Significant Accounting Policies [Line Items]
Equity interest			3.00%
Purchase of equity investment			$ 40,000
Clear Aligner
Significant Accounting Policies [Line Items]
Warranty period				3 months
Intraoral Scanners
Significant Accounting Policies [Line Items]
Warranty period				1 year
CAD/CAM Software
Significant Accounting Policies [Line Items]
Warranty period				1 year
Invisalign \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Significant Accounting Policies [Line Items]
Expected timing				6 months
Invisalign \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Significant Accounting Policies [Line Items]
Expected timing				5 years
Systems and Services
Significant Accounting Policies [Line Items]
Warranty period				1 year
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Significant Accounting Policies [Line Items]
Expected timing				1 year
Systems and Services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Significant Accounting Policies [Line Items]
Expected timing				5 years
Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles				7 years
Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives of intangibles				12 years

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2025

Supplemental Cash Flow Information [Abstract]

Schedule of Income Tax Paid

Disclosed below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirement of ASU 2023-09 for the year ended December 31, 2025:


	Year Ended December 31, 2025
United States - Federal	$	72,872
United States - State and local	13,792
Israel	7,291
Other foreign jurisdictions	40,798
Total income taxes paid	$	134,753

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


	Year Ended December 31,
	2025		2024		2023
Taxes paid	$	134,753	$	177,082	$	294,569
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	16,592	$	18,974	$	32,280
Final settlement of prior year stock repurchase forward contract	$	—	$	50,000	$	40,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	39,856	$	39,526	$	33,714
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	22,291	$	32,671	$	27,901

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Value added tax receivables	$ 55,819	$ 34,028
Prepaid expenses	62,478	82,978
Other current assets	47,274	81,576
Total prepaid expenses and other current assets	$ 165,571	$ 198,582

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Stockholders' Equity Note [Abstract]

Stock-based Compensation Expense

Stock-based compensation related to our stock-based awards and employee stock purchase plan for the years ended December 31, 2025, 2024 and 2023 is as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Cost of net revenues	$	6,177	$	6,995	$	7,462
Selling, general and administrative	132,362		123,979		115,992
Research and development	47,331		42,729		30,572
Total stock-based compensation	$	185,870	$	173,703	$	154,026

Summary of Nonvested Shares


	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, 2024	1,019	$	331.10
Granted	692	195.43
Vested and released	(313)	354.77
Forfeited	(148)	274.34
Unvested as of December 31, 2025	1,250	$	256.80	1.3	$	195,141

Summary of Nonvested Shares

The following table summarizes MSU activity for the year ended December 31, 2025:


	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, 2024	193	$	679.14
Granted	127	362.98
Vested and released	(30)	878.35
Forfeited	(27)	638.92
Unvested as of December 31, 2025	263	$	507.88	1.3	$	41,148

Summary of Weighted Average Assumptions Used for MSUs

The weighted average assumptions used in the Monte Carlo simulation were as follows:


	Year Ended December 31,
	2025			2024			2023
Expected term (in years)	3.0			3.0			3.0
Expected volatility	51.5		%	52.0		%	59.1		%
Risk-free interest rate	4.2		%	4.3		%	4.3		%
Expected dividends	—			—			—
Weighted average fair value per share at grant date	$	362.98		$	617.79		$	629.53

Summary of PSU Activity

The following table summarizes PSU activity for the year ended December 31, 2025:


	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, 2024	11	$	204.33
Granted	—	—
Vested and released	(5)	201.63
Forfeited	—	—
Unvested as of December 31, 2025	6	$	206.36	1.0	$	984

Schedule of ESPP Share Activity

The following table summarizes the ESPP shares issued:


	Year Ended December 31,
	2025		2024		2023
Number of shares issued (in thousands)	147		120		114
Weighted average price	$	148.77	$	213.11	$	234.19

Summary of Weighted Average Assumptions Used for ESPP

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:


	Year Ended December 31,
	2025			2024			2023
Expected term (in years)	1.2			1.3			1.2
Expected volatility	56.2		%	49.2		%	56.4		%
Risk-free interest rate	4.0		%	4.6		%	4.9		%
Expected dividends	—			—			—
Weighted average fair value at grant date	$	64.94		$	94.75		$	132.94

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
US federal statutory income tax rate	$ 122,911
State income taxes, net of federal tax benefit*	25,901
Subpart F	21,622
Foreign-derived intangible income	(13,611)
Other	825
Research and development tax credits	(7,840)
Share-based payment awards	17,335
Other	3,219
Changes in Unrecognized Tax Benefits	(29,673)
Income Tax expense	$ 174,936	$ 187,597	$ 196,151
Percent
US federal statutory income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefit	4.40%	2.20%	2.90%
U.S. tax on foreign earnings		5.40%	3.70%
Statutory tax rate difference between Switzerland and U.S.		(2.00%)	1.40%
Other Adjustments		(0.10%)	(0.20%)
Subpart F	0.037
Foreign-derived intangible income	(2.30%)
Other	0.20%
Research and development tax credits	(1.30%)
Share-based payment awards	3.00%	3.40%	3.00%
Settlement on audits		0.00%	0.10%
Other	0.50%
Changes in Unrecognized Tax Benefits	(5.10%)
Change in valuation allowance		0.90%	(1.30%)
Income Tax expense	29.90%	30.80%	30.60%
Switzerland
Amount
Statutory tax rate difference between Switzerland and U.S.	$ (11,536)
Canton tax	3,233
Swiss tax rate change - Remeasurement of deferred tax assets	15,136
Other Adjustments	$ 4,102
Percent
Statutory tax rate difference between Switzerland and U.S.	(2.00%)
Canton tax	0.006
Swiss tax rate change - Remeasurement of deferred tax assets	2.60%
Other Adjustments	0.70%
MEXICO
Amount
Other Adjustments	$ 1,303
Impairment Loss	$ 7,111
Percent
Other Adjustments	0.20%
Impairment Loss	1.20%
Other foreign jurisdictions
Amount
Other Adjustments	$ 14,135
Percent
Other Adjustments	2.40%
U.S.
Amount
Other Adjustments	$ 763
Percent
Other Adjustments	0.10%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
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

Stockholders' Equity - Summary of MSU Performance (Details) - Market Performance Based Restricted Stock Units $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Number of Shares
Nonvested beginning balance (shares) \| shares	193,000
Granted (shares) \| shares	127,000
Vested and released (shares) \| shares	(29,995)
Forfeited (shares) \| shares	(27,000)
Nonvested ending balance (shares) \| shares	263,000
Nonvested, beginning balance (usd per share) \| $ / shares	$ 679.14
Granted (in usd per share) \| $ / shares	362.98
Vested and released (usd per share) \| $ / shares	878.35
Forfeited (usd per share) \| $ / shares	638.92
Nonvested, ending balance (usd per share) \| $ / shares	$ 507.88
Weighted Average Remaining Contractual Term
Unvested	1 year 3 months 18 days
Aggregate Intrinsic Value
Unvested \| $	$ 41,148

Stockholders' Equity - Weighted Average Assumptions Used for ESPP (Details) - Employee Stock - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	1 year 2 months 12 days	1 year 3 months 18 days	1 year 2 months 12 days
Expected volatility	56.20%	49.20%	56.40%
Risk-free interest rate	4.00%	4.60%	4.90%
Expected dividends	0.00%	0.00%	0.00%
Weighted average fair value at grant date (usd per share)	$ 64.94	$ 94.75	$ 132.94

- 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

Business Combination - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 02, 2024	Dec. 31, 2025	Dec. 31, 2024
Business Combination [Line Items]
Useful life		15 years
Existing technology
Business Combination [Line Items]
Useful life		11 years	11 years
Cubicure
Business Combination [Line Items]
Ownership interest prior to acquisition	9.04%
Fair value of pre-existing equity interest ownership	$ 7,968
Pre-tax gain on remeasurement of pre-existing investment	4,100
Settlement of pre-existing relationship - accounts payable	2,316
Goodwill, tax deductible amount	$ 0
Business Combination, Achieved in Stages, Preacquisition Equity Interest in Acquiree, Remeasurement, Gain, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other income (expense), net
Cubicure \| Existing technology
Business Combination [Line Items]
Intangible assets acquired	$ 47,000
Useful life	13 years

Restructuring and Other Charges

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

2023 Restructuring

During 2023, we 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 December 31, 2024, we had no remaining restructuring liability related to the 2023 Restructuring.

2024 Restructuring

During 2024, we incurred approximately $37.0 million in restructuring expenses, of which $13.0 million remained unpaid and were included in Accrued liabilities as of December 31, 2024. For the year ended December 31, 2025, we reduced our

December 31, 2024 restructuring liability by approximately $14.6 million primarily due to cash payments, offset by approximately $2.1 million of additional restructuring expense recorded in Cost of net revenues.

The 2023 and 2024 restructuring charges were primarily related to involuntary termination benefits, including employee severance and other post-employment benefits.

2025 Restructuring

During the third quarter of 2025, we initiated a plan to realign certain business groups and reduce our global workforce. This plan represents our continued effort to right size our labor force with the current macroeconomic environment. We incurred $40.9 million in total restructuring expenses, primarily related to involuntary termination benefits, including employee severance and other post-employment benefits. We have recorded $5.5 million in Cost of net revenues and $35.4 million in Restructuring and other charges in our Consolidated Statements of Operations as of December 31, 2025. All charges recorded to Cost of net revenues were allocated to our Clear Aligner reportable segment and all charges recorded to Restructuring and other charges were unallocated corporate expenses. As of December 31, 2025, $17.1 million remained unpaid and was included in Accrued liabilities in our Consolidated Balance Sheets.

Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):


	For the twelve months ended December 31, 2024
	2023 Restructuring		2024 Restructuring		Total
Balance at beginning of period1	$	5,299	$	—	$	5,299
Restructuring and other charges	(598)		36,991		36,393
Cash payments and adjustments	(4,701)		(23,990)		(28,691)
Balance at end of period1	$	—	$	13,001	$	13,001
	For the twelve months ended December 31, 2025
	2024 Restructuring		2025 Restructuring2		Total
Balance at beginning of period1	$	13,001	$	—	$	13,001
Restructuring and other charges	2,056		40,888		42,944
Cash payments and adjustments	(14,569)		(23,776)		(38,345)
Balance at end of period1	$	488	$	17,112	$	17,600

1 Included in “Accrued liabilities” within our Consolidated Balance Sheets.

2 2025 restructuring activities include an immaterial amount of charges for non post-employment benefit related restructuring expense.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts and returns	$ 34,213	$ 19,131
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (shares)	5,000,000	5,000,000
Preferred stock, issued (shares)	0	0
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	200,000,000	200,000,000
Common stock, issued (shares)	71,364,000	73,849,000
Common stock, outstanding (shares)	71,364,000	73,849,000

Income Taxes - Rollforward of Total Gross Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Gross unrecognized tax benefits at January 1,	$ 145,534	$ 149,172	$ 141,560
Increases related to tax positions taken during the current year	8,879	12,264	8,616
Increases related to tax positions taken during a prior year	1,288	2,031	5,647
Decreases related to tax positions taken during a prior year	(4,286)	(3,924)	(533)
Decreases related to expiration of statute of limitations	(33,988)	(14,009)	(3,654)
Decreases related to settlement with tax authorities	0	0	(2,464)
Gross unrecognized tax benefits at December 31,	$ 117,427	$ 145,534	$ 149,172

Balance Sheet Components - Deferred Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Deferred revenues, current	$ 1,261,816	$ 1,331,146
Deferred revenues, long-term	$ 85,543	$ 102,164

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Investments, All Other Investments [Abstract]

Cash and Cash Equivalents

The following tables summarize our cash and cash equivalents, and marketable securities balances recorded in our Consolidated Balance Sheets as of December 31, 2025 and 2024 (in thousands):


									Reported as:
December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	770,051	$	—	$	—	$	770,051	$	770,051
Money market funds	308,940		—		—		308,940		308,940





Certificates of deposit	15,917		—		—		15,917		15,917
Total	$	1,094,908	$	—	$	—	$	1,094,908	$	1,094,908


									Reported as:
December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	752,423	$	—	$	—	$	752,423	$	752,423
Money market funds	291,464		—		—		291,464		291,464





Total	$	1,043,887	$	—	$	—	$	1,043,887	$	1,043,887

Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities balances recorded in our Consolidated Balance Sheets as of December 31, 2025 and 2024 (in thousands):


									Reported as:
December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	770,051	$	—	$	—	$	770,051	$	770,051
Money market funds	308,940		—		—		308,940		308,940





Certificates of deposit	15,917		—		—		15,917		15,917
Total	$	1,094,908	$	—	$	—	$	1,094,908	$	1,094,908


									Reported as:
December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash and cash equivalents
Cash	$	752,423	$	—	$	—	$	752,423	$	752,423
Money market funds	291,464		—		—		291,464		291,464





Total	$	1,043,887	$	—	$	—	$	1,043,887	$	1,043,887

Financial Assets Measured At Fair Value On A Recurring Basis

The following tables summarize our financial assets measured at fair value as of December 31, 2025 and 2024 (in thousands):


Description	Balance as of December 31, 2025		Level 1
Cash equivalents:
Money market funds	$	308,940	$	308,940
Certificate of deposits	15,917		15,917
















	$	324,857	$	324,857


Description	Balance as of December 31, 2024		Level 1
Cash equivalents:
Money market funds	$	291,464	$	291,464
















	$	291,464	$	291,464

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 December 31, 2025 and 2024 (in thousands):


	December 31, 2025
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€183,700	$	215,895
Canadian Dollar	C$90,000	65,802
British Pound	£38,500	51,782
Polish Zloty	PLN174,800	48,605
Israeli Shekel	ILS80,500	25,283
Japanese Yen	¥3,200,000	20,447
Brazilian Real	R$63,500	11,440
Chinese Yuan	¥52,000	7,461
Swiss Franc	CHF4,200	5,316
New Taiwan Dollar	NT$121,500	3,851
New Zealand Dollar	NZ$6,020	3,474
Korean Won	₩4,600,000	3,207
Australian Dollar	A$3,500	2,337
Czech Koruna	Kč26,000	1,262

Total notional contract amount		$	466,162


	December 31, 2024
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€176,080	$	183,172
Polish Zloty	PLN283,000	68,633
Canadian Dollar	C$97,000	67,446
British Pound	£37,600	47,090
Israeli Shekel	ILS90,055	24,740
Chinese Yuan	¥164,500	22,417
Brazilian Real	R$83,100	13,327
Japanese Yen	¥2,000,000	12,778

Swiss Franc	CHF5,700	6,314
New Zealand Dollar	NZ$7,000	3,924
Czech Koruna	Kč72,800	3,004
Australian Dollar	A$3,800	2,355
New Taiwan Dollar	NT$58,700	1,786
Korean Won	₩2,000,000	1,361
Total notional contract amount		$	458,347

Leases - Schedule of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 35,694
2027	29,595
2028	23,986
2029	15,564
2030	7,212
Thereafter	13,060
Total lease payments	125,111
Less: Imputed interest	(10,665)
Total lease liabilities	$ 114,446

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2025	Feb. 20, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
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, State or Province	AZ
Entity Address, City or Town	Tempe
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 11.1
Entity Common Stock, Shares Outstanding (shares)		71,282,132
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Entity Central Index Key	0001097149
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2026 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The registrant’s definitive proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2025
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Business Description Align Technology, Inc. (“we,” “us,” “our,” “Align” or the “Company”) is a global medical device company primarily engaged in the design, manufacture and marketing of Invisalign® clear aligners for the treatment of malocclusions, or the misalignment of teeth, by orthodontists and general dental practitioners (“GPs”), ViveraTM retainers for retention, iTeroTM intraoral scanners and services for dentistry, and exocadTM computer-aided design and computer-aided manufacturing (“CAD/CAM”) software for dental laboratories and dental practitioners. Our vision and strategy is to revolutionize orthodontic and restorative dentistry through digital treatment planning and implementation using the AlignTM Digital Platform, an integrated suite of proprietary technologies and services designed to deliver a seamless, end-to-end solution for patients, consumers, orthodontists, GPs and lab partners. We strive to achieve our vision and strategy through key objectives made possible with the proprietary technologies and services of the AlignTM Digital Platform to establish: clear aligners as the principal solution for the treatment of malocclusions with the Invisalign System as the treatment solution of choice by orthodontists, GPs and patients globally, our iTero intraoral scanners as the preferred scanning technology for digital dental scans and our exocad CAD/CAM software as the dental restorative solution of choice for dental labs. Our corporate headquarters is located in Tempe, Arizona and we have offices worldwide. Our Americas regional headquarters is located in Raleigh, North Carolina; our European, Middle East and Africa (“EMEA”) regional headquarters is located in Rotkreuz, Switzerland; and our Asia Pacific (“APAC”) regional headquarters is located in Singapore. We have two operating segments: (1) Clear Aligner and (2) Imaging Systems and CAD/CAM services (“Systems and Services”). Basis of Presentation and Preparation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Align and our wholly-owned subsidiaries after elimination of intercompany transactions and balances. 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 our consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition and deferred revenues, useful lives of intangible assets and property, plant and equipment, 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. Fair Value of Financial Instruments 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, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. We obtain fair values for our Level 2 investments. Our custody bank and asset managers independently use professional pricing services to gather pricing data which may include quoted market prices for identical or comparable financial instruments, or inputs other than quoted prices that are observable either directly or indirectly. We are ultimately responsible for these underlying estimates. Level 3 - Unobservable inputs to the valuation techniques that are supported by little or no market activity and are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation. Cash and Cash Equivalents We consider cash on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are held in various financial institutions in the U.S. and internationally. Restricted Cash Restricted cash primarily consists of funds reserved for legal requirements. Restricted cash balances are primarily included in Other assets within our Consolidated Balance Sheets. Marketable Securities Marketable securities consist of marketable debt securities which are classified as available-for-sale and are carried at fair value. Our fixed-income securities investment portfolio allows for investments with a maximum effective maturity of up to 40 months on any individual security. Marketable securities classified as current assets have maturities within one year from the balance sheet date. Unrealized gains or losses on such securities are included in Accumulated other comprehensive income (loss), net (“AOCI”) in stockholders’ equity. Realized gains and losses from sales and maturities of marketable securities are reported in earnings and computed using the specific identification cost method. Marketable securities are subject to a periodic impairment review. We evaluate if an allowance for credit loss is necessary by considering available information relevant to the collectability of the security and information about credit rating changes, past events, current conditions, and reasonable and supportable forecasts. Any allowance for credit loss is recorded as a charge to Other income (expense), net, in our Consolidated Statements of Operations. If we have an intent to sell, or if it is more likely than not that we will be required to sell a security in an unrealized loss position before recovery of its amortized cost basis, we will write down the security to its fair value and record the corresponding charge as a component of Other income (expense), net in our Consolidated Statements of Operations. As of December 31, 2025 and 2024, we had no marketable securities. Variable Interest Entities We evaluate whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine we are the primary beneficiary of a VIE, we would consolidate the assets, liabilities, income and expense of the VIE into our consolidated financial statements. In determining if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of activities that are significant to the VIE and an assessment of our ability to direct those activities. Our assessment of whether we are the primary beneficiary of a VIE requires management to exercise significant judgment and utilize assumptions. We have concluded that we are not the primary beneficiary of our VIE investments; therefore, we do not consolidate their results into our consolidated financial statements. 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 at cost, minus impairment, if any. Additionally, we adjust the carrying value of our investments 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 “Heartland Subscription Agreements”) with Heartland Dental Holding Corporation (“Heartland”). Pursuant to the Heartland Subscription Agreements we acquired less than a 5% equity interest in total, through the purchase of Class A Common Stock for $150 million ($75 million in each April 2023 and April 2024). On December 19, 2024 and June 5, 2025, we entered into Subscription Agreements (the “Smile Doctors Subscription Agreements”) with New SD Holding Company, L.P. (“SD Holding Company”). Pursuant to the Smile Doctors Subscription Agreements, we acquired less than a 3% equity interest through the purchase of Class A Common Units for $40 million. SD Holding Company owns a controlling interest, through intermediary entities, in Smile Doctors, LLC. We account for our investments in Heartland and SD Holding Company as investments in equity securities, utilizing the measurement alternative. Based on a review of the relevant facts and circumstances, primarily observable transactions for identical investments, we recorded a $18.0 million and 6.0 million increase to the carrying value of our Heartland investment in 2025 and 2024, respectively. This increased the total carrying value of our investment in Heartland to $174.0 million for the year ended December 31, 2025. 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. For the years ended December 31, 2025 and 2024, we did not hold any material investments in which we exercised significant influence. The carrying value of our investments in equity securities and equity method investments are reported in our Consolidated Balance Sheets as Other assets and any price adjustments or impairment, if any, are recorded in Other income (expense), net in our Consolidated Statements 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. The gains and losses on these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being economically hedged. We do not enter into foreign currency forward contracts for trading or speculative purposes. The net gain or loss from the settlement of these foreign currency forward contracts is recorded in Other income (expense), net in the Consolidated Statements of Operations. As of December 31, 2025 and 2024, the fair value of outstanding foreign exchange forward contracts was not material. Foreign Currency For our international subsidiaries, we analyze on an annual basis or more often, if necessary, if a significant change in facts and circumstances indicate that the functional currency of the subsidiary has changed. For international subsidiaries where the local currency is the functional currency, adjustments from translating financial statements from the local currency to the U.S. dollar reporting currency are recorded to change in foreign currency translation adjustment, net of tax in our Consolidated Statements of Comprehensive Income. This foreign currency translation adjustment reflects the translation of the balance sheet at period end exchange rates, and the income statement at the transaction date or average exchange rate in effect during the period. Foreign currency remeasurement gains and losses that are derived from monetary assets and liabilities stated in a currency other than the international subsidiaries functional currency are included in Other income (expense), net. For the years ended December 31, 2025, 2024 and 2023, we had foreign currency transaction gains of $11.3 million and losses of $21.0 million and $7.0 million, respectively. Certain Risks and Uncertainties Our cash and investments are held primarily by five financial institutions. Financial instruments which potentially expose the Company to concentration of credit risk consist principally of cash and cash equivalents. These instruments have minimal credit risk exposures. Management regularly monitors their compositions and maturities. The Company maintains its cash and cash equivalents in bank accounts that exceed federally insured FDIC limits. Through December 31, 2025, the Company has not experienced any material credit losses on such deposits. We invest excess cash primarily in money market funds and certificates of deposit and periodically evaluate them 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. Accounts Receivable, net Trade accounts receivable are recorded at the invoiced amount. Accounts receivable, net includes allowances for doubtful accounts for any potentially uncollectible amounts. We periodically assess the adequacy of the allowance for doubtful accounts by reviewing the accounts receivable on a collective basis and giving consideration to various factors including the aging of the receivables and a customer’s expected ability to pay. For specific customer accounts receivable balances, we consider known disputes and collection history. In determining the amount of the allowance for doubtful accounts, we also evaluate the creditworthiness of customers, current market conditions and forecasts of future economic conditions to make any adjustments. Actual write-offs have not materially differed from the estimated allowances. No individual customer accounted for 10% or more of our accounts receivable, net balance at December 31, 2025 or 2024 nor net revenues for the years ended December 31, 2025, 2024 or 2023. 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 Consolidated Statements of Cash Flows. Total accounts receivable sold under factoring arrangements was $47.9 million and $52.1 million during the years ended December 31, 2025, and 2024, respectively. Factoring fees incurred on the sales of accounts receivable were recorded in Other income (expense), net in our Consolidated Statements of Operations and were not material. Inventories Inventories are valued at the lower of cost or net realizable value, with cost computed using standard cost which approximates actual cost on a first-in-first-out basis. Excess and obsolete inventories are determined primarily based on future demand forecasts, and write-downs of excess and obsolete inventories are recorded as a component of Cost of net revenues. Property, Plant and Equipment, net Property, plant and equipment, net are stated at historical cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful lives of the assets. Construction in progress is related to the construction or development of property (including land) and equipment that are not ready for their intended use and have not yet been placed in service. Upon sale or retirement, the asset’s cost and related accumulated depreciation are removed from the balance sheet and any related gains or losses are reflected in Income from operations. Maintenance and repairs are expensed as incurred. Refer to Note 3 “Balance Sheet Components" of the Notes of Consolidated Financial Statements for details on estimated useful lives. Leases - Lessee We determine if an arrangement is or contains a lease at inception. Leases with a term of 12 months or less are not recorded on the balance sheet. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. A ROU asset and lease liability is recognized on the lease commencement date. The lease liability is determined based on the present value of lease payments over the lease term. We use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments as the rate implicit in our leases is not readily determinable. The ROU asset consists of the initial lease liability adjusted for lease incentives received and any initial direct costs incurred. The lease term represents the noncancellable period of the lease and may include options to extend the lease when it is reasonably certain that we will exercise that option. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. Payments under our lease arrangements are primarily fixed; however, certain lease agreements contain variable payments which are expensed as incurred and not included in the lease liability balance. The short-term portion of our lease liabilities is recorded in Accrued liabilities on our Consolidated Balance Sheets. Leases - Lessor We determine if an arrangement is or contains a lease at inception. All of our leases in which we are the lessor are classified as operating leases, exclusive of leases with a term of 12 months or less. The underlying asset in an operating lease arrangement is carried at depreciated cost within Property, plant, and equipment, net on our Consolidated Balance Sheets. Business Combinations We allocate the fair value of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. When determining the fair value of assets acquired and liabilities assumed, management is required to make certain estimates and assumptions, particularly with respect to determining the fair value of intangible assets. The estimates and assumptions used in fair valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows which are dependent on forecasted revenues and expenses, a discount rate, and the assets’ life cycle, among others. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. Goodwill Goodwill represents the excess of the purchase price paid over the fair value of tangible and identifiable intangible net assets acquired in a business combination and is allocated to the respective reporting units based on relative synergies generated. Finite-Lived Intangible Assets Our intangible assets primarily consist of intangible assets acquired as part of a business combination. These assets are amortized using the straight-line method over their estimated useful lives. The average amortization period by intangible asset class ranges from seven to twelve years. This amortization period reflects the period in which the economic benefits of the assets are expected to be realized. Impairment of Goodwill and Long-Lived Assets and Finite-Lived Intangible Assets Goodwill We evaluate goodwill for impairment at least annually on November 30th or more frequently if indicators of impairment are identified between annual testing dates. We perform an initial assessment of qualitative factors to determine whether the existence of events and circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit has been reduced below its carrying amount. In performing this qualitative assessment, we identify and consider the significance of relevant key factors, events, and circumstances that affect the fair value of our reporting units. These factors include external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as our actual and planned financial performance. We also give consideration to the difference between the reporting unit fair value and carrying value as of the most recent date a fair value measurement was performed. If, after assessing the totality of relevant events and circumstances, we determine that it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further testing is performed; however, if we conclude otherwise, then we will perform a quantitative impairment test which compares the estimated fair value of the reporting unit to its carrying value, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss would be recorded in our Consolidated Statements of Operations for the amount of the excess. Management is required to exercise significant judgment when identifying the relevant assumptions and estimates used in determining the fair value and carrying value of our reporting units. Long-Lived Assets and Finite-Lived Intangible Assets We evaluate long-lived assets (including ROU assets) and finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. Factors we consider important which could trigger a quantitative impairment test include, but are not limited to, significant negative industry or economic trends, significant adverse changes in our competitive environment and a significant loss of customers. If an impairment indicator is identified, we perform a quantitative impairment analysis in which we compare the carrying value of an asset (asset group) to the future undiscounted cash flows the asset (asset group) is expected to generate. An asset (asset group) is considered impaired if its carrying amount exceeds the undiscounted cash flows. If an asset (asset group) is deemed to be impaired, the impairment to be recognized is calculated as the amount by which the carrying amount of the asset (asset group) exceeds its fair value. Our estimates of future cash flows attributable to our assets (asset groups) require significant judgment based on our historical and anticipated results and are subject to many assumptions. In the third quarter of 2025, we committed to a plan to dispose of, other than by sale, specifically identified manufacturing assets prior to the end of their estimated useful lives. We have materially completed the disposition of these assets as of December 31, 2025. Accordingly, we have revised the estimated useful lives of these assets to reflect our use through the disposal date. In the year ended December 31, 2025, we recorded $76.9 million of accelerated depreciation expense related to these assets. The increase in depreciation expense negatively impacted Net income, net of tax, by $53.9 million or $0.74 per basic and diluted share. Development Costs for Internal Use Software Internally developed software includes enterprise-level business software that we customize to meet our specific operational needs. Such capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees, who are directly associated with the development of the applications. For the years ended December 31, 2025 and 2024, capitalized internally developed software costs were $38.5 million and $23.1 million, respectively. Development Costs for Software to be Marketed The costs to develop software that is marketed externally have not been capitalized as we believe our current software development process is essentially completed concurrent with the establishment of technological feasibility. As such, all related software development costs are expensed as incurred and included in Research and development expense in our Consolidated Statements of Operations. Product Warranty We offer assurance warranties on our products which provide the customer assurance that the product will function as intended because it complies with agreed-upon specifications; therefore, our warranties are not treated as a separate revenue performance obligation in accordance with the revenue standard but rather are accounted for as guarantees. Clear Aligner We warrant our Invisalign products against material defects until the treatment plan is complete except in the case of retainers, which are warranted up to three months from expected first use. We accrue for warranty costs, which are primarily based on historical product failure rates as well as current information on replacement cost. Systems and Services We warrant our intraoral scanners for a period of one year, which includes materials and labor. We accrue for these warranty costs based on average historical repair costs. An extended warranty may be purchased for an additional fee. Sales of extended warranties are accounted for as a separate performance obligation and recorded as revenue. We warrant our CAD/CAM software for a one year period to perform in accordance with agreed product specifications. As we have not historically incurred any material warranty costs, we do not accrue for these software warranties. Warranty costs are recorded in cost of net revenues upon shipment of products. We regularly review our warranty liability and update these balances based on historical warranty cost trends. Actual warranty costs incurred have not materially differed from those accrued; however future actual warranty costs could differ from the estimated amounts. Revenue Recognition Our revenues are derived primarily from the sale of aligners, scanners, and services from our Clear Aligner and Systems and Services reportable segments. We identify separate performance obligations, determine the transaction price, allocate the transaction price and record revenue in accordance with ASC 606 “Revenues from Contracts with Customers.” We identify a performance obligation as distinct if both of the following criteria are met: the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determining the standalone selling price (“SSP”) in order to allocate the transaction price to the individual performance obligations is the result of various factors, such as historical prices, changing trends and market conditions, costs, and gross margins. While changes in the allocation of the SSP between performance obligations will not affect the amount of total revenues recognized for a particular contract, any material changes could impact the timing of revenue recognition, which would have a material effect on our financial position and result of operations. This is because the contract consideration is allocated to each performance obligation, delivered or undelivered, at the inception of the contract based on the SSP of each distinct performance obligation. Clear Aligner We enter into contracts (“treatment plan(s)”) that involve multiple future performance obligations. Invisalign Comprehensive, Invisalign First Phase 1, Invisalign First Comprehensive Phase 2, Invisalign Adult, Invisalign Standard, Invisalign Moderate, Invisalign Go, Invisalign Go Plus, and Lite and Express Packages include optional additional aligners at no charge for a certain period of time ranging from six months to five years after initial shipment. Our treatment plans comprise the following performance obligations that also represent distinct deliverables: initial aligners and the option of additional aligners. We allocate the transaction price for each treatment plan based on each unit’s standalone selling price. Management considers a variety of factors such as same or similar product historical sales, costs, and gross margin, which may vary over time depending upon the unique facts and circumstances related to each performance obligation in making these estimates. In addition to historical data, we take into consideration changing trends and market conditions. For treatment plans with multiple future options, we also consider usage rates, which is the number of times a customer is expected to order additional aligners. Our process for estimating usage rates requires significant judgment and evaluation of inputs, including historical usage data by region, country and channel. We recognize revenue upon shipment, as the customers obtain physical possession and we have enforceable rights to payment. We have made an accounting policy election to account for shipping and handling costs as activities to fulfill the performance obligation. Where processing fees are charged, the consideration received from the fees are included in the transaction price. As we collect most consideration upfront, we consider whether a significant financing component exists; however, as the delivery of the performance obligations are at the customer’s discretion, we conclude that no significant financing component exists. Systems and Services We sell intraoral scanners and CAD/CAM services through both our direct sales force and distribution partners. The intraoral scanner sales price includes one year of warranty and unlimited scanning services. The customer may also select, for additional fees, an extended warranty and unlimited scanning services for periods beyond the initial year. When intraoral scanners are sold with an unlimited scanning service agreement and/or extended warranty, we allocate revenues based on the respective SSP of the scanner and the subscription services. We estimate the SSP of each element, taking into account factors such as same or similar historical prices and discounting strategies. Revenues are then recognized over time as the monthly services are rendered and upon shipment of the scanner, as that is when we deem the customer to have obtained control. We also have a rental program, where scanners are leased to customers. The contracts for the program are treated as operating leases, and the revenue is recognized ratably over the lease term. CAD/CAM services, where sold separately, include the initial software license and maintenance and support. We allocate revenues based upon the respective SSPs of the software license and the maintenance and support. We estimate the SSP of each element using data such as historical prices. Revenues related to the software license are recognized upfront and revenues related to the maintenance and support are recognized over time. For both scanner and service sales, most consideration is collected upfront and in cases where there are payment plans, consideration is collected within one year and, therefore, there are no significant financing components. Volume Discounts In certain situations, we offer promotions in which the discount will increase depending upon the volume purchased over time. We concluded that in these situations, the promotions can represent either variable consideration or options, depending upon the specifics of the promotion. In the event the promotion contains an option, the option is considered a material right and, therefore, included in the accounting for the initial arrangement. We estimate the average anticipated discount over the lifetime of the promotion or contract, and apply that discount to each unit as it is sold. On a quarterly basis, we review our estimates and, if needed, updates are made and changes are applied prospectively. Accrued Sales Return Reserve We provide a reserve for sales returns based on historical sales returns as a percentage of revenues. Costs to Obtain a Contract We offer a variety of commission plans to our sales force; each plan has multiple components. To match the costs to obtain a contract to the associated revenues, we evaluate the individual components and capitalize the eligible components, recognizing the costs over the treatment period. The capitalized costs to obtain contracts were $29.2 million and $25.8 million as of December 31, 2025 and 2024, respectively, and are included in Other assets in our Consolidated Balance Sheets. We recognized amortization on our costs to obtain a contract of $15.6 million, $18.7 million, and $12.5 million during the years ended December 31, 2025, 2024, and 2023, respectively, which is included in Selling, general and administrative expenses in our Consolidated Statements of Operations. Unfulfilled Performance Obligations for Clear Aligners and Scanners Our unfulfilled performance obligations, including deferred revenues and backlog, and the estimated revenues expected to be recognized in the future related to these performance obligations are $1,352.7 million and $1,444.9 million as of December 31, 2025 and 2024, respectively. This includes performance obligations from the Clear Aligner reportable segment, primarily the shipment of additional aligners, which are fulfilled over six months to five years. This also includes performance obligations from our Systems and Services reportable segment, primarily services and support, which are fulfilled over one to five years, and contracted deliveries of additional scanners. The estimate includes both product and service unfulfilled performance obligations and the time range reflects our best estimate of when we will transfer control to the customer and may change based on customer usage patterns, timing of shipments, readiness of customers' facilities for installation, and manufacturing availability. Contract Balances The timing of revenue recognition results in deferred revenues being recognized on our Consolidated Balance Sheet. For both aligners and scanners, we usually collect the total consideration owed prior to all performance obligations being satisfied with payment terms generally varying from net 30 to net 180 days. Contract liabilities are recorded as deferred revenue, which is generated based upon the timing of invoices and recognition patterns, not payments. If revenue recognition exceeds the billing, the excess amount is considered an unbilled receivable or a contract asset. Conversely, if the billing occurs prior to the revenue recognition, the amount is considered deferred revenue and a contract liability. Shipping and Handling Costs Shipping and handling charges to customers as well as processing fees are included in net revenues, and the associated costs incurred are recorded in cost of net revenues. Legal Proceedings We are involved in legal proceedings on an ongoing basis. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated loss in our consolidated financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. Research and Development Research and development costs are expensed as incurred and include costs associated with the research and development of new products and enhancements to existing products. These costs primarily include employee related costs, including payroll, benefits and stock-based compensation, equipment, material and maintenance costs, outside consulting expenses, depreciation and amortization expense and allocations of corporate overhead expenses including facilities and IT. Advertising Costs The cost of advertising and media is expensed as incurred. For the years ended December 31, 2025, 2024 and 2023, we incurred advertising costs of $188.7 million, $185.0 million and $201.2 million, respectively. Stock-Based Compensation We recognize stock-based compensation cost for shares expected to vest on a straight-line basis over the requisite service period of the award, net of estimated forfeitures. We use the Black-Scholes option pricing model to determine the fair value of employee stock purchase plan shares. We use a Monte Carlo simulation model to estimate the fair value of awards with a market based condition which requires the input of assumptions, including expected term, stock price volatility and the risk-free rate of return. For restricted stock units that include a performance condition, we use the stock price on the grant date to estimate the fair value and stock-based compensation cost is recorded based on expected attainment of performance targets. Forfeitures are estimated based on historical experience at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Income Taxes We make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenues and expenses for tax and financial statement purposes. As part of the process of preparing our consolidated financial statements, we are required to estimate our income taxes in each of the jurisdictions in which we operate. This process involves us estimating our current tax exposure under the applicable tax laws and assessing temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities which are included in our Consolidated Balance Sheets. We account for uncertainty in income taxes pursuant to authoritative guidance based on a two-step approach to recognize and measure uncertain tax positions taken or expected to be taken in a tax return. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit based on its technical merits, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We adjust reserves for our uncertain tax positions due to changing facts and circumstances, such as the closing of a tax audit or refinement of estimates due to new information. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will impact our tax provision in our Consolidated Statements of Operations in the period in which such determination is made. We assess the likelihood that we will be able to realize our deferred tax assets, including those related to our Switzerland deferred tax assets, which have a finite utilization period. We consider all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is more likely than not that we will not realize our deferred tax assets, we will record a valuation allowance against the deferred tax assets that we estimate will not ultimately be realizable. The determination of whether a valuation allowance is required involves significant judgment and reflects our evaluation of changes in our operational performance, taxable income forecasts, and other relevant factors, Common Stock Repurchase We repurchase our own common stock from time to time under stock repurchase programs approved by our Board of Directors. We account for these repurchases under the accounting guidance for equity where we allocate the total repurchase value that is in excess of par value between additional paid-in capital and retained earnings. All shares repurchased are retired. Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted 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. We adopted this standard on a prospective basis for our annual report on Form 10-K effective for the year ended December 31, 2025. ASU 2023-09 impacts our accounting for income tax financial statement disclosures, but did not impact our Consolidated Balance Sheets, Statements of Operations or Statements of Cash Flows. On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07 (“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 and other segment expenses. For public business entities, the provisions of ASU 2023-07 were effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We adopted this standard for the fiscal year ended December 31, 2024 and for interim periods within the fiscal year ended December 31, 2025. See Note 14 “Segments and Geographical Information.” (ii) Recent Accounting Pronouncements Not Yet Effective On September 18, 2025, the FASB issued ASU 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software.” The amendments in this ASU simplify the accounting for internal-use software by eliminating the existing project development stages and introducing new guidance for evaluating the probable-to-complete threshold for capitalization. The amendments in this ASU also require the application of ASC 360-10 disclosure requirements for all capitalized internal-use software costs, regardless of how those costs are presented in the financial statements. The provisions of ASU 2025-06 are effective for all entities for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years. Early adoption is permitted. The Company is evaluating the effect of this pronouncement on its annual consolidated financial statements. On November 4, 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures.” The amendments in this ASU require a public entity to disclose, in the notes to the financial statements, specified information about certain costs and expenses, including the amounts of inventory purchases, employee compensation, depreciation and intangible asset amortization. For public business entities, the provisions of ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. There will be no impact to our consolidated balance sheets or statements of operations; however, the Company is evaluating the effect of this pronouncement on our consolidated financial statement disclosures.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2025

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

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


	Year Ended December 31,
	2025		2024		2023
Taxes paid	$	134,753	$	177,082	$	294,569
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$	16,592	$	18,974	$	32,280
Final settlement of prior year stock repurchase forward contract	$	—	$	50,000	$	40,000
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	39,856	$	39,526	$	33,714
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	22,291	$	32,671	$	27,901

Restructuring and Other Charges - Restructuring Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Restructuring Reserve [Roll Forward]
Beginning balance	$ 13,001	$ 5,299
Restructuring and other charges	42,944	36,393
Cash payments and adjustments	(38,345)	(28,691)
Ending balance	17,600	13,001
2023 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	0	5,299
Restructuring and other charges		(598)
Cash payments and adjustments		(4,701)
Ending balance		0
2024 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	13,001	0
Restructuring and other charges	2,056	36,991
Cash payments and adjustments	(14,569)	(23,990)
Ending balance	488	13,001
2025 Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	0
Restructuring and other charges	40,888
Cash payments and adjustments	(23,776)
Ending balance	$ 17,112	$ 0