Why Align Technology (ALGN) Is Up 15.1% After Record 2025 Aligner Volumes And Measured 2026 Outlook

• In early February 2026, Align Technology reported fourth-quarter 2025 revenue of US$1,047.56 million and net income of US$135.76 million, capping a full year of just over US$4.03 billion in sales and slightly higher earnings per share than 2024.
• Alongside these results, Align guided to modest 2026 revenue growth and highlighted record clear aligner volumes, expanding dental service organization partnerships, and continued investment in digital orthodontic technology, including its iTero Lumina platform and Swiss oral health research collaboration.
• With the shares up over the past week, we’ll examine how Align’s record clear aligner volumes and measured 2026 guidance shape its investment narrative.

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What Is Align Technology's Investment Narrative?

For Align, the big-picture thesis still hinges on its leadership in clear aligners, the stickiness of its digital orthodontic ecosystem and the willingness of dentists, orthodontists and patients to keep adopting its technology. The latest quarter reinforces that story: record Invisalign volumes, improving margins and a 2026 outlook for low single digit revenue growth show a business that is growing, but at a measured pace, even after a strong share price rebound in recent months. Short term, the key catalyst is whether that volume momentum, especially via dental service organizations and international markets, can offset Align’s premium valuation and relatively modest growth guidance. At the same time, new initiatives like iTero Lumina and the Swiss Oral Health Study highlight management’s push to deepen clinical credibility, which may help, but do not remove the competitive and pricing risks the stock still faces.

However, one risk in particular could matter more than many investors might expect. Align Technology's shares have been on the rise but are still potentially undervalued by 16%. Find out what it's worth.

Exploring Other Perspectives

Seven fair value estimates from the Simply Wall St Community span roughly US$140 to just over US$223 per share, underscoring how differently people are sizing up Align’s upside after the recent earnings beat and buybacks. With growth guidance now set in the low single digits, it is worth weighing these contrasting views alongside the risk that premium pricing and slower top line expansion could keep sentiment sensitive to even small operational missteps.

Explore 7 other fair value estimates on Align Technology - why the stock might be worth 25% less than the current price!

Build Your Own Align Technology Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Align Technology research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free Align Technology research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Align Technology's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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