10-Q Filing

ALIGN TECHNOLOGY INC CIK: 1097149 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001097149-17-000018`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	algn-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 70 Comprehensive Income 10

Balance Sheet 74 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$389.27M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$4.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$261.03M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$5.25M	USD	Point-in-time
Marketable securities, short-term	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$284.56M	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`	$250.98M	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 allowance for doubtful accounts and returns of $5,253 and $4,310, respectively	`AccountsReceivableNetCurrent`	$247.41M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and returns of $5,253 and $4,310, respectively	`AccountsReceivableNetCurrent`	$267.13M	USD	Point-in-time
Inventories	`InventoryNet`	$27.13M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$35.17M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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`	$70.28M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$38.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$952.98M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$918.17M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$59.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	79.55M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.32M	shares	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$98.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.55M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$231.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.32M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$175.17M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$43.94M	USD	Point-in-time
Equity method investments	`EquityMethodInvestments`	$45.06M	USD	Point-in-time
Goodwill and intangible assets, net	`Goodwill`	$92.45M	USD	Point-in-time
Goodwill and intangible assets, net	`Goodwill`	$82.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$60.07M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$67.84M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.32M	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$134.33M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$125.63M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$191.41M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$202.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$365.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$354.33M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrentAndNoncurrent`	$45.13M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrentAndNoncurrent`	$46.32M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.29M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$400.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$414.42M	USD	Point-in-time
Commitments and contingencies (Note 8 and 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8 and 9)	`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; 80,324 and 79,553 issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $0.0001 par value (200,000 shares authorized; 80,324 and 79,553 issued and outstanding, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$850.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$864.87M	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.38M	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-938.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$196.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$131.45M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.04B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$995.39M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.46B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$310.34M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$238.72M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$74.72M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$58.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$180.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$235.62M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$112.21M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$151.15M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$15.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$22.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$127.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$173.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$53.33M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$61.67M	USD	1 Quarter
Interest and other income (expense), net	`NonoperatingIncomeExpense`	$-427.00K	USD	1 Quarter
Interest and other income (expense), net	`NonoperatingIncomeExpense`	$1.65M	USD	1 Quarter
Net income before provision (benefit) for income taxes and equity in losses of investee	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$52.91M	USD	1 Quarter
Net income before provision (benefit) for income taxes and equity in losses of investee	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$63.32M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-7.22M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$12.36M	USD	1 Quarter
Equity in losses of investee, net of tax	`IncomeLossFromEquityMethodInvestments`	$-1.12M	USD	1 Quarter
Equity in losses of investee, net of tax	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.87	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.85	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	79.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	79.83M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.32M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.53M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.42M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-6.11M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$7.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.79M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$14.81M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$12.52M	USD	1 Quarter
Net tax benefits from stock-based awards	`TaxBenefitsShortfallsFromStockBasedAwards`	-	USD	1 Quarter
Net tax benefits from stock-based awards	`TaxBenefitsShortfallsFromStockBasedAwards`	$7.22M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$8.08M	USD	1 Quarter
Equity in losses of investee	`IncomeLossFromEquityMethodInvestments`	$-1.12M	USD	1 Quarter
Equity in losses of investee	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Other non-cash operating activities	`OtherNoncashIncomeExpense`	$-3.75M	USD	1 Quarter
Other non-cash operating activities	`OtherNoncashIncomeExpense`	$-2.08M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$24.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$20.84M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.92M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$527.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$618.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$447.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.52M	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-39.70M	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-14.54M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$11.69M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$14.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$47.62M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.68M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$8.95M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.21M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$59.57M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$169.78M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$143.93M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$128.52M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$87.00M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$11.68M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$293.00K	USD	1 Quarter
Loan advance to privately held companies	`PaymentsToAcquireLoansReceivable`	$8.00M	USD	1 Quarter
Loan advance to privately held companies	`PaymentsToAcquireLoansReceivable`	-	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.31M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.32M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-145.30M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.29M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.38M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$3.79M	USD	1 Quarter
Common stock repurchases	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	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`	$36.50M	USD	1 Quarter
Employees taxes paid upon the vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$22.57M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.11M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.00M	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`	$2.43M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-128.25M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.30M	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`	$389.27M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$261.03M	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`	$389.27M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$261.03M	USD	Point-in-time
Accounts payable or accrued liabilities related to property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$10.84M	USD	1 Quarter
Accounts payable or accrued liabilities related to property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$7.66M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$40.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.42M	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-150.00K	USD	1 Quarter
Net change in foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-459.00K	USD	1 Quarter
Change in unrealized gains on investments, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.15M	USD	1 Quarter
Change in unrealized gains on investments, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$15.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-444.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$68.98M	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.