Align Technology, Inc.(NASDAQ: ALGN) stock rallied over 17.6% on October 27th, 2017 (as of 2:17PM EDT; Source: google finance) leading to a total rally of over 148.4% in this year to date.
For the fourth quarter of 2017, the group forecasts their Invisalign case shipments to be in the range of 245 thousand to 250 thousand, which is a rise of over 29% to 32% against pcp. Net revenues are forecasted to be in the range of $391 million to $398 million, rising over 33% to 36% against pcp. Diluted EPS would be in the range of $0.92 to $0.95
Align Technology delivered a solid third quarter of 2017 performance, with third quarter revenues rising 38.3% on a year-over-year basis to $385.3 million and by 8.1% against earlier quarter. Total Invisalign case shipments surged 32.8% year-over-year to 236.1 thousand while Invisalign case shipments to teenage patients enhanced 46.3% in a yoy basis and by 26.5% against earlier quarter. Scanner and services revenues surged 25% on a year-over-year basis and rose 23.2% sequentially to $43.7 million.
Rising growth from teenager patients in both North America as well as the Asia Pacific region drove the total Invisalign performance with shipments rising by 46.3% year-over-year and up 26.5% from the second quarter. On a sequential basis, revenues increased 8.1% driven by continued strength across Asia Pacific, which offset expected seasonality in Europe, as well as higher than expected revenues from shipments to SmileDirectClub.
The group launched a New Brand Identity for iTero® Scanning System and Tools during the quarter while made a deal for Distribution Agreement for iTero® Element Intraoral Scanning System with Patterson Dental. The group is also expanding their Presence in Raleigh, North Carolina.
The group has a strong $737.9 million in cash, cash equivalents and marketable securities which is better than the $676.6 million as of June 30, 2017.