bearish

Align Technology (ALGN US) Q1 Results: Both Revenue and Earnings Miss, First Time in Last Two Years

270 Views28 Apr 2022 22:57
SUMMARY
  • Align Technology (ALGN US) reported underwhelming Q1 results. Both revenue and earnings missed consensus and were down sequentially.
  • Sequential results primarily reflect lower volumes mainly due to continued impact of the COVID-19 causing lesser patient traffic and practice closure.
  • Due to increased uncertainty across all its operating markets, the company suspended 2022 revenue guidance. Earlier, Align guided for 20–30% y/y revenue growth in 2022.
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