Align Technology Inc
- Industry
- Medical Devices
- Exchange
- US
- Country
- USA
- IPO date
- Jan 26, 2001
- Employees
- 20,275
- Website
- www.aligntech.com
Composite valuation range · conservative $125–$145 / fair $170–$210 / optimistic $240–$290. At $168.05, Between the conservative and fair ranges.
At publication $163.6 (May 23, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Align Technology, Inc. provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers Invisalign comprehensive package to treat adults and teens malocclusion and features, and orthodontic needs of teenage or younger patients; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients between the ages of six and ten years with a mixture of primary/baby and permanent teeth. This segment also provides Invisalign express, Invisalign lite, and Invisalign moderate; Invisalign Go, Invisalign Go express, and Invisalign Go Plus; retention products, Invisalign training, adjusting tools used by dental professionals during treatment, ancillary Invisalign accessory products, and other oral health products; Invisalign Professional Whitening system; Invisalign Palatal Expander, a 3D printed orthodontic device; and 3D printing solutions. Its Imaging Systems and CAD/CAM Services segment offers iTero intraoral scanning system, a single hardware platform for restorative or orthodontic procedures; exocad, a computer-aided design and computer-aided manufacturing software; orthodontist software for digital records storage, orthodontic diagnosis, and fabrication of printed models and retainers; and restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons. This segment also offers Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; Align Oral Health Suite, a digital interface for dental consultations; iTero TimeLapse technology for doctors or practitioners to compare a patient's historic 3D scans to the present-day scan; and subscription software, disposables, rents scanners, and pay per scan services. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.
History
Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona; it completed its IPO on 2001-01-26. The company built its business around Invisalign clear aligners and Vivera retainers, later expanding into digital dentistry hardware and software with iTero intraoral scanners and exocad CAD/CAM software. Its operations are organized into two segments: Clear Aligner and Imaging Systems and CAD/CAM Services (Systems and Services). By the end of 2025 the company had cumulatively treated more than 22 million Invisalign patients and reported 121,000-plus active iTero scanners, 70,000-plus exocad licenses, and 295,000-plus active Invisalign-trained doctors; by early 2026 it disclosed serving close to 300,000 doctor customers. In 2025 revenue was about 4.035 billion dollars, split between roughly 3.2 billion dollars from Clear Aligner and about 790 million dollars from Systems and Services, with revenue broadly flat over 2021-2025 (about 0.5% CAGR) after a faster 2019-2025 expansion (about 9.0% CAGR). Joe Hogan has served as CEO since 2015, and the company employed 20,275 people.
Industry position
Align Technology operates in medical instruments and supplies, specifically clear aligners and digital orthodontics, where it is one of the strongest global brands. Rather than a single aligner manufacturer, it functions as a digital dentistry platform combining clinical treatment planning (ClinCheck), the iTero scanner, exocad software, manufacturing, and doctor training, serving orthodontists, general practitioner dentists, DSO/OSO chains, and dental laboratories. Its competitive position rests on factual sources including brand recognition, a large doctor network, accumulated clinical case data (about 19.5 million aggregated anonymized cases per its 2024 investor materials, with cumulative treated patients exceeding 22 million by end-2025), an integrated software workflow, manufacturing scale, and intellectual property, with switching costs arising once iTero scanning, ClinCheck planning, retainers, and subscription plans are linked together. As of year-end 2025 it held 1,137 active U.S. patents, 1,147 active foreign patents, and 1,070 pending global patent applications. Competitors include Angelalign (about 359,400 clear aligner cases in 2024 and about 276,200 China-mainland cases in 2025), Straumann's ClearCorrect, Envista's Ormco/Spark, and Dentsply's SureSmile, while Byte illustrated setbacks in the direct-to-consumer model. Align has pursued litigation against Angelalign in the Unified Patent Court, Chinese courts, and the U.S. ITC, obtaining a preliminary injunction against an Angel treatment-planning software feature in February 2026.