Analysis of Revenues
Revenues as Reported
Align Technology Inc., income statement, revenues
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The annual revenue data reveals notable growth and fluctuations across several categories over the five-year period analyzed.
- Clear Aligner Revenue
- The revenue generated from Clear Aligners demonstrates a consistent upward trend from 2018 through 2021, increasing from approximately $1.69 billion in 2018 to about $3.25 billion in 2021. This represents nearly a doubling in four years. However, in 2022, there is a slight decline to approximately $3.07 billion, indicating a modest reduction compared to the previous year.
- Imaging Systems and CAD/CAM Services Revenue
- This revenue segment shows considerable variability. Starting at $275 million in 2018, it rises to $381 million in 2019, then dips slightly to $370 million in 2020. A significant increase occurs in 2021, with revenues nearly doubling to $705 million, followed by a decrease to $662 million in 2022. The pattern suggests some volatility, with a notable peak in 2021 before moderate retrenchment.
- Net Revenues
- Overall net revenues reflect the trends observed in the two primary segments, growing steadily from approximately $1.97 billion in 2018 to nearly $3.95 billion in 2021. The peak in 2021 aligns with the highest revenues recorded in both major categories. In 2022, total revenues decrease to about $3.73 billion, mirroring the slight declines seen in individual segments.
In summary, the data indicates robust growth in Clear Aligner revenues and strong variability in Imaging Systems and CAD/CAM Services, culminating in an overall expansion of net revenues through 2021, followed by a modest revenue contraction in 2022.