Technology stock alignment goes up after Blockbuster earnings report

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Technology alignment

stocks soared in trading Thursday morning after the company’s fourth-quarter results added to analysts ’expectations.

Shares of Align (TICKER: ALGN), the maker of Invisalign teeth whitening, jumped more than 15% after Thursday’s market opened. The company reported late Wednesday that fourth-quarter sales hit $ 834.5 million, marking a 28.4% jump from the previous quarter’s quarter. GAAP earnings came in at $ 2.00 per share, up from $ 1.53 per share last year.

Align has been a marvel of homework from home over the past year. Many dental offices were closed early in the pandemic, causing the company to have difficulty accessing customers. But the company saw an increase in demand in the third and fourth quarters as employees – perhaps tired of seeing the crooked smile on Zoom calls – ran to their dentist’s office to get teeth straight. The so-called “Zoom effect” and its effect on Align were recently published in Town & Country magazine.

Align’s share price almost doubled in 2020.

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But it’s not just adults who come to the service to mend the smile. Align has also been running campaigns aimed at teenagers to raise awareness about Invisalign as an alternative to metal braces. He caught on to social media influencers like Charli D’Amelio, Marsai Martin, and Christina Milian for his advertising. Align reported that 30.3% of total Invisalign cases were for teens or younger, marking an 11.5% increase from 2019.

And while Align benefited in the back half last year from pent-up demand and new users, it sees that trend continuing into 2021. Regulators told analysts Wednesday that the company was motivated by January orders.

Write to Carleton in English at [email protected]