Align Technology, Inc. (ALGN) Stock Price & How to Invest
Last updated July 2026
Short answer
Align Technology (ALGN) is the company behind Invisalign clear aligners and iTero intraoral scanners, so investing in it is a bet on the ongoing shift of orthodontics from metal braces to digital clear-aligner treatment. You can buy the US-listed Nasdaq shares directly or hold them through a broker or ETF that tracks medical-device names.
ALGN stock price
As of 2026-07-17, Align Technology, Inc. (ALGN) last closed at $176.76, down 7.3% over the past year. Over the past 52 weeks it has traded between $124.88 and $207.19.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Align Technology, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Align Technology, Inc. (ALGN) do?
Align Technology is a global medical device company best known for Invisalign, the clear-aligner system that has become the dominant alternative to traditional metal braces, and for iTero, its line of intraoral scanners used to capture digital impressions and plan treatment. The business splits into two segments: Clear Aligner, which generated roughly $3.2 billion of Align's approximately $4.0 billion in fiscal 2025 revenue, and Imaging Systems and CAD/CAM services (iTero and exocad software), which added about $0.8 billion. Align sells primarily through orthodontists and general dentists, and its scanners feed cases directly into the Invisalign workflow, creating a self-reinforcing ecosystem.
The investment picture is a high-quality franchise navigating a maturing growth phase. Align holds a leading share of a large, still-underpenetrated clear-aligner market with strong brand recognition and high gross margins near 70 percent, but revenue growth has slowed to low single digits as North America matures and lower-priced rivals expand. Recent results show renewed volume momentum internationally, and the company continues to return cash through buybacks. Because the stock trades at a premium earnings multiple, the debate centers on whether Align can convert its ecosystem advantage and international runway into faster growth while defending pricing.
What's driving Align Technology, Inc. (ALGN)?
1. Clear-aligner market penetration
Clear aligners still represent a minority of the roughly 500 million people worldwide with malocclusion, leaving a long runway as treatment shifts away from metal braces. Align's brand, doctor relationships, and case-management software position it to capture a meaningful share of that expansion. Growth in EMEA, APAC, and Latin America has been running at double-digit rates, offsetting a more mature North America.
2. iTero scanner and digital ecosystem
The iTero scanner line and exocad CAD/CAM software lock doctors into Align's digital workflow, with the majority of Invisalign cases now submitted through digital scans. This razor-and-blade dynamic drives recurring aligner volume and switching costs. New scanner models and AI-assisted treatment tools aim to deepen that ecosystem advantage.
3. Margin profile and capital returns
Align operates with gross margins near 70 percent and generates substantial free cash flow, which it has been directing toward share repurchases, including a fresh $200 million authorization announced in early 2026. Manufacturing scale in lower-cost regions supports profitability. Disciplined cost management gives the company flexibility to invest in growth while returning cash.
4. Adult and teen segment expansion
Align continues to broaden its addressable base, with growth in adult patients seeking discreet treatment and in teens and younger patients where clear aligners are displacing braces. Product features aimed at complex cases expand the range of treatments aligners can address. Direct-to-consumer marketing and doctor-education programs support demand across both cohorts.
What are the risks to Align Technology, Inc. (ALGN)?
Growth has decelerated to low single digits as the North American clear-aligner market matures and consumers pull back on discretionary, often out-of-pocket dental spending during economic softness. Competition is intensifying from lower-priced systems such as Straumann's ClearCorrect, Dentsply Sirona's SureSmile, and Envista's Spark, which can pressure both volume and pricing. Align manufactures aligners in Mexico and ships them to the United States, exposing it to tariff and trade-policy shifts, and a large portion of revenue is international, adding foreign-exchange sensitivity. The premium valuation leaves little room for disappointment, so a growth stumble can drive an outsized share reaction. Patent expirations over time may further lower barriers to entry for competitors.
How is Align Technology, Inc. (ALGN) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Align Technology, Inc.'s investor relations page or your broker.
- Revenue (FY2025): ~$4.0B
- Revenue (Q1 2026): ~$1.04B, up ~6% YoY
- Q1 2026 EPS: ~$1.57
- Gross margin: ~71%
- Market cap: ~$13B
- P/E ratio: ~30x
As of July 2026, Align posted roughly $4.0 billion in fiscal 2025 revenue and around $1.04 billion in the first quarter of 2026, up about 6 percent year over year with record Invisalign shipments. The stock trades near a market capitalization of $13 billion at a price-to-earnings multiple around 30 times, a premium that reflects the company's leadership and margins but also assumes a return to healthier growth. The company reaffirmed its 2026 guidance and authorized a new $200 million buyback.
Who competes with Align Technology, Inc. (ALGN)?
Clear-aligner rivals
Straumann Group (ClearCorrect), Dentsply Sirona (SureSmile), and Envista's Ormco (Spark) are the main doctor-channel competitors, often positioned at lower price points and bundled within broader dental portfolios. Newer entrants such as Angelalign in Asia and smaller direct-to-consumer brands add pressure, while the earlier direct-to-consumer player SmileDirectClub exited after bankruptcy.
Intraoral scanner and digital dentistry
In its iTero scanner business, Align competes with Dentsply Sirona (Primescan), Envista, 3Shape, and Medit, which supply intraoral scanners and CAD/CAM tools to dental practices. These rivals compete on price, accuracy, and integration with their own treatment and lab ecosystems.
Traditional orthodontics
Conventional metal and ceramic braces from suppliers like Dentsply Sirona, Envista's Ormco, and 3M's former orthodontic unit remain the largest alternative to clear aligners by case volume, especially in cost-sensitive markets and for complex cases. Align's growth partly depends on continued conversion away from these legacy options.
How to invest in Align Technology, Inc. (ALGN)
There are three common ways to get ALGN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so ALGN sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where ALGN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Align Technology, Inc. (ALGN)
ALGN is the category-defining clear-aligner leader trading at a premium multiple, so the story hinges on whether Invisalign volume growth can reaccelerate against rising low-cost competition and cyclical consumer spending.
More on Align Technology, Inc. (ALGN)
Whether ALGN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ALGN a buy?, and where the stock could go from here in the ALGN stock forecast.
For income investors, whether ALGN pays a dividend and how the payout looks is covered in does ALGN pay a dividend?
Build a basket around ALGN with Walnut
Use Align Technology, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Align Technology do?
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Align Technology makes Invisalign clear aligners, which straighten teeth as a discreet alternative to metal braces, and iTero intraoral scanners plus exocad software used by dentists and orthodontists to capture digital impressions and plan treatment. Clear aligners are the large majority of its revenue.
How does Align make money?
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Most revenue comes from selling Invisalign aligners to orthodontists and general dentists, who treat patients. A smaller but meaningful share comes from selling iTero scanners and CAD/CAM software, which feed cases back into the aligner business and create recurring demand.
How big is Align Technology?
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As of July 2026, Align generated roughly $4.0 billion in fiscal 2025 revenue and carried a market capitalization near $13 billion, making it one of the larger companies in the medical device and dental equipment space.
Is Align Technology profitable?
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Yes. Align operates with gross margins near 70 percent and reported net income of about $113 million and earnings per share around $1.57 in the first quarter of 2026, generating substantial free cash flow that funds share buybacks.
Who are Align Technology's main competitors?
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In clear aligners, its main rivals are Straumann's ClearCorrect, Dentsply Sirona's SureSmile, and Envista's Spark, along with regional players like Angelalign. In scanners, it competes with Dentsply Sirona, 3Shape, and Medit. Traditional braces remain the largest alternative by volume.
Why has Align's revenue growth slowed?
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Growth cooled to low single digits as the North American clear-aligner market matured, consumers grew cautious about discretionary dental spending, and lower-priced competitors expanded. International regions such as EMEA, APAC, and Latin America have been growing faster and partly offsetting the slowdown.
What are the biggest risks for ALGN stock?
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Key risks include slowing volume growth, price competition from cheaper aligner systems, sensitivity to consumer spending on elective dental care, tariff and foreign-exchange exposure from manufacturing in Mexico and large international sales, and a premium valuation that amplifies reactions to disappointments.
How can I invest in Align Technology?
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ALGN trades on the Nasdaq, so you can buy shares directly through a brokerage account or gain exposure through ETFs that hold medical device and dental equipment companies. This is descriptive information, not investment advice, and Walnut is not an investment adviser.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Align Technology, Inc.'s investor relations page or your broker before making investment decisions.