10-Q Filing

ALIGN TECHNOLOGY INC CIK: 1097149 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001445305-14-001766`
Period End Date	20140331
Filing Date	20140501
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	algn-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 39 Cash Flow Statement 67 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$1.80M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts and returns	`AllowanceForDoubtfulAccountsReceivableAndSalesReturnsCurrent`	$1.73M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$242.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$328.75M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$182.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$306.39M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Marketable securities, short-term	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$183.68M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Marketable securities, short-term	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$127.04M	USD	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
Accounts receivable, net of allowances for doubtful accounts and returns of $1,798 and $1,733, respectively	`AccountsReceivableNetCurrent`	$113.25M	USD	Point-in-time
Accounts receivable, net of allowances for doubtful accounts and returns of $1,798 and $1,733, respectively	`AccountsReceivableNetCurrent`	$126.18M	USD	Point-in-time
Inventories	`InventoryNet`	$13.97M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Inventories	`InventoryNet`	$15.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.58M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	81.63M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.47M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.58M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$544.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	81.63M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$552.18M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$101.98M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$138.93M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$79.09M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$75.74M	USD	Point-in-time
Goodwill	`Goodwill`	$85.36M	USD	Point-in-time
Goodwill	`Goodwill`	$84.39M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$22.74M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$15.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.31M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.62M	USD	Point-in-time
Total assets	`Assets`	$885.64M	USD	Point-in-time
Total assets	`Assets`	$832.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.51M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$71.35M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$80.34M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$81.00M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$77.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$175.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$170.85M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.03M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$22.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$198.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$188.89M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 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; 81,632 and 80,583 issued and outstanding at 2014 and 2013, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $0.0001 par value (200,000 shares authorized; 81,632 and 80,583 issued and outstanding at 2014 and 2013, respectively)	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$759.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$729.58M	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$294.00K	USD	Point-in-time
Accumulated other comprehensive income (loss), net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$442.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-95.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$633.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$696.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$832.15M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$885.64M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$153.58M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$180.65M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$40.73M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$43.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$137.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$112.85M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$52.89M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$42.28M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$29.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.35M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.38M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.28M	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$40.69M	USD	1 Quarter
Asset Impairment Charges	`AssetImpairmentCharges`	$26.32M	USD	1 Quarter
Asset Impairment Charges	`AssetImpairmentCharges`	$26.30M	USD	Point-in-time
Asset Impairment Charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$95.45M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$150.92M	USD	1 Quarter
Profit from operations	`OperatingIncomeLoss`	$41.80M	USD	1 Quarter
Profit from operations	`OperatingIncomeLoss`	$-38.08M	USD	1 Quarter
Interest and other income (expense), net	`NonoperatingIncomeExpense`	$-988.00K	USD	1 Quarter
Interest and other income (expense), net	`NonoperatingIncomeExpense`	$601.00K	USD	1 Quarter
Net profit before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-39.06M	USD	1 Quarter
Net profit before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.41M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.92M	USD	1 Quarter
Net profit (loss)	`NetIncomeLoss`	$-41.98M	USD	1 Quarter
Net profit (loss)	`NetIncomeLoss`	$32.44M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$-0.52	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$-0.52	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.12M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.25M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.25M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.82M	shares	1 Quarter
Effective Income Tax Rate, Continuing Operations	`EffectiveIncomeTaxRateContinuingOperations`	0.23	pure	1 Quarter
Effective Income Tax Rate, Continuing Operations	`EffectiveIncomeTaxRateContinuingOperations`	-0.07	pure	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net profit (loss)	`NetIncomeLoss`	$-41.98M	USD	1 Quarter
Net profit (loss)	`NetIncomeLoss`	$32.44M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$12.77M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$931.00K	USD	1 Quarter
Depreciation, Depletion and Amortization	`DepreciationDepletionAndAmortization`	$4.78M	USD	1 Quarter
Depreciation, Depletion and Amortization	`DepreciationDepletionAndAmortization`	$4.94M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.41M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$9.13M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$7.74M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$13.57M	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$40.69M	USD	1 Quarter
Asset Impairment Charges	`AssetImpairmentCharges`	$26.32M	USD	1 Quarter
Asset Impairment Charges	`AssetImpairmentCharges`	$26.30M	USD	Point-in-time
Asset Impairment Charges	`AssetImpairmentCharges`	-	USD	1 Quarter
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	$-1.98M	USD	1 Quarter
Other Noncash Income (Expense)	`OtherNoncashIncomeExpense`	$444.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.94M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.87M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$320.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$586.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.79M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.61M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$265.00K	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-15.29M	USD	1 Quarter
Accrued and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-7.94M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.48M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$3.08M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.42M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.99M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.61M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$3.28M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$157.92M	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$53.14M	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$4.37M	USD	1 Quarter
Proceeds from Sale of Available-for-sale Securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	-	USD	1 Quarter
Proceeds from Sale of Available-for-sale Securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$10.56M	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$133.00K	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.08M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.44M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-99.35M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.27M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$11.95M	USD	1 Quarter
Common stock repurchase	`PaymentsForRepurchaseOfCommonStock`	$2.44M	USD	1 Quarter
Common stock repurchase	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$7.74M	USD	1 Quarter
Excess tax benefit from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.57M	USD	1 Quarter
Employees' taxes paid upon the vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.14M	USD	1 Quarter
Employees' taxes paid upon the vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.45M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$21.06M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.42M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$106.00K	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-37.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-60.19M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.36M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$242.95M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$328.75M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$182.77M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$306.39M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$328.75M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$182.77M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$242.95M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$306.39M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net profit (loss)	`NetIncomeLoss`	$-41.98M	USD	1 Quarter
Net profit (loss)	`NetIncomeLoss`	$32.44M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$106.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-55.00K	USD	1 Quarter
Change in unrealized gains (losses) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$42.00K	USD	1 Quarter
Change in unrealized gains (losses) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$3.00K	USD	1 Quarter
Net change in accumulated other comprehensive income (losses)	`OtherComprehensiveIncomeLossNetOfTax`	$-52.00K	USD	1 Quarter
Net change in accumulated other comprehensive income (losses)	`OtherComprehensiveIncomeLossNetOfTax`	$148.00K	USD	1 Quarter
Other comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-42.03M	USD	1 Quarter
Other comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$32.59M	USD	1 Quarter

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