Can New iTero Updates Help Put a Bottom in Align Technology, Inc. (NASDAQ:ALGN)?
Align Technology, Inc. (NASDAQ:ALGN) just announced multiple updates associated for the iTero Element family of Intraoral scanner (iTero Element, Element 2 and Element Flex) which includes a new software upgrade with enhanced functionality and connectivity to two important digital dentistry leaders: exocad and Dentrix.
According to the release, with these updates, iTero has strengthened its position in restorative and dental practice workflow and is able to help dentists offer a better and faster patient experience.
Align Technology, Inc. (NASDAQ:ALGN) trumpets itself as a company that designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services.
The company’s Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
It also provides Invisalign Express (10 and 5) and Invisalign Lite/i7 treatments for orthodontic cases, non-comprehensive treatment relapse cases, or straightening prior to restorative or cosmetic treatments; Invisalign Go, a solution for general practitioner dentists (GPs) to identify and treat patients with mild malocclusion; SmileDirectClub aligners for minor tooth movement; custom clear aligner retainers used to maintain tooth position and correct minor relapse; and SmartTrack, a custom-engineered material that delivers force for orthodontic tooth movements.
The company’s Scanners and Services segment offers iTero Scanner, a single hardware platform with software options for restorative or orthodontic procedures; and Restorative software for iTero, a software for GPs, prosthodontists, periodontists, and oral surgeons.
It also provides Orthodontic software for iTero, a software for orthodontists for digital records storage, orthodontic diagnosis, Invisalign digital impression submission, and for the fabrication of printed models and retainers; CAD/CAM services, such as iTero Models and Dies, OrthoCAD iCast, and OrthoCAD iRecord; and Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner, as well as third party scanners and digital scans for Invisalign treatment submission. The company was founded in 1997 and is headquartered in San Jose, California.
As we discussed earlier, ALGN just announced multiple updates associated for the iTero Element family of Intraoral scanner (iTero Element, Element 2 and Element Flex) which includes a new software upgrade with enhanced functionality and connectivity to two important digital dentistry leaders: exocad and Dentrix.
ALGN has responded well, rallying about 5% over the past five days, with this news clearly driving the action.
According to the release, In addition, a separate iTero software update this week also provided customers with an improvement in their experience at myitero.com, with clear visibility to file download status. iTero Intraoral scanner open chair-side milling workflow with exocad ChairsideCAD software offers a fully-validated workflow between iTero Element Intraoral scanner and exocad ChairsideCAD to enable in-house milling of dental restoration on any compatible milling machine. With the flexibility of being able to choose chair-side workflow that works for their practice, dentists can focus on offering a better patient experience and faster treatment through same-day dentistry.
Align Technology, Inc. (NASDAQ:ALGN) pulled in sales of $505.3M in its last reported quarterly financials, representing top line growth of 31.2%.
In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($605.2M against $618.2M, respectively).
Looking for the next big thing? Well, he’s here and his name is Jason Bond. His work ethic, determination, and teacher-savvy dug him out of $250,000 debt and made him a millionaire. Learn a page from his trading playbook by joining his free training session. Sign up soon to learn more about The Top 3 Trading Patterns He Uses Daily.