10-Q Filing

ALIGN TECHNOLOGY INC CIK: 1097149 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001097149-16-000051`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	algn-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 62 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$154.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$167.71M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$2.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$189.98M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$2.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.87M	USD	Point-in-time
Marketable securities, short-term	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$359.58M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities, short-term	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$393.66M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and returns of $2,770 and $2,472, respectively	`AccountsReceivableNetCurrent`	$158.55M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and returns of $2,770 and $2,472, respectively	`AccountsReceivableNetCurrent`	$178.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$19.46M	USD	Point-in-time
Inventories	`InventoryNet`	$22.62M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$34.31M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.70M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$783.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$732.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	79.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.17M	shares	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$151.37M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$132.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$148.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.50M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$136.47M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.17M	shares	Point-in-time
Goodwill and intangible assets, net	`Goodwill`	$79.16M	USD	Point-in-time
Goodwill and intangible assets, net	`Goodwill`	$78.61M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$57.53M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$51.42M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.71M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.20M	USD	Point-in-time
Total assets	`Assets`	$1.21B	USD	Point-in-time
Total assets	`Assets`	$1.16B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.35M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$92.72M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$107.77M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$145.77M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$129.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$274.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$271.67M	USD	Point-in-time
Taxes Payable	`TaxesPayableCurrentAndNoncurrent`	$37.51M	USD	Point-in-time
Taxes Payable	`TaxesPayableCurrentAndNoncurrent`	$39.27M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.52M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$310.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$315.53M	USD	Point-in-time
Commitments and contingencies (Note 6 and 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6 and 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value (200,000 shares authorized; 80,175 and 79,500 issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $0.0001 par value (200,000 shares authorized; 80,175 and 79,500 issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$824.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$821.51M	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$22.00K	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-980.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$27.39M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$847.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$892.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.21B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$238.72M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$198.09M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$47.00M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$58.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$180.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$151.09M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$88.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$112.21M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.88M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$15.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$102.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$127.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$53.33M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$48.92M	USD	1 Quarter
Interest and other income (expenses), net	`NonoperatingIncomeExpense`	$-427.00K	USD	1 Quarter
Interest and other income (expenses), net	`NonoperatingIncomeExpense`	$-1.45M	USD	1 Quarter
Net income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$47.47M	USD	1 Quarter
Net income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$52.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.36M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.18M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	79.83M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	80.46M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.82M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.18M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.49M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-6.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.31M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.79M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$11.65M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$12.52M	USD	1 Quarter
Tax (shortfalls) benefits from stock-based awards	`TaxBenefitsShortfallsFromStockBasedAwards`	$7.22M	USD	1 Quarter
Tax (shortfalls) benefits from stock-based awards	`TaxBenefitsShortfallsFromStockBasedAwards`	$4.78M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.78M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$8.08M	USD	1 Quarter
Other non-cash operating activities	`OtherNoncashIncomeExpense`	$-3.75M	USD	1 Quarter
Other non-cash operating activities	`OtherNoncashIncomeExpense`	$-2.61M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$20.84M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.15M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$618.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.53M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.87M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$447.00K	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-14.54M	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.08M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$6.02M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$14.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.65M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.68M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.61M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.21M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$143.93M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$113.51M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$128.52M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$86.91M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$293.00K	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$5.50M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.66M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.32M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.55M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.38M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$1.78M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.78M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$8.08M	USD	1 Quarter
Employees taxes paid upon the vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$22.57M	USD	1 Quarter
Employees taxes paid upon the vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$14.65M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.11M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.10M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$446.00K	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.78M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.30M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.89M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$154.42M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$167.71M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$189.98M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$199.87M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$154.42M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$167.71M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$189.98M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$199.87M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.18M	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-261.00K	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-150.00K	USD	1 Quarter
Change in unrealized gains (losses) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.15M	USD	1 Quarter
Change in unrealized gains (losses) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$295.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$34.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$36.21M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$41.55M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.