Align Technology reports record financial performance in Q3 2017

Align Technology has announced its financial results for the third quarter of 2017, which represented another record-breaking period for the dental technology firm.

The company's revenues came to $385.3 million (294.15 million pounds), which represented a year-on-year increase of 38.3 percent, as well as an 8.1 percent rise compared to the preceding quarter.

This was driven by increased Invisalign volumes across all geographies, as well as strong growth from iTero scanners. The firm saw particularly accelerated growth from teenage patients in North America and Asia-Pacific, with total Invisalign shipments up 46.3 percent year on year and up 26.5 percent from the second quarter.

It was also observed that strong Asia-Pacific growth and higher-than-expected revenues from shipments to SmileDirectClub helped to offset an expected seasonal downturn in Europe.

For the fourth quarter of the year, the company is anticipating net revenues in the range of $391 million to $398 million, up approximately 33 to 36 percent year over year, which would result in another record-breaking fiscal year for the firm.

Joe Hogan, Align Technology's president and chief executive officer, said: "I'm pleased to report another strong quarter and results that exceeded our expectations across our key financial metrics including revenue, volume, margins and earnings per share."

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