Net revenues jumped 26.7% to $534 million. Revenues from Invisalign clear aligners and SmileDirectClub aligners increased 22.4% and that from Scanner & Services climbed 54.8%.
Invisalign case shipments increased by 30.9% year-over-year to 333,800 cases with 21.7% growth coming from the Americas region and 45.3% from the International region.
Operating margin of 22.6% reflects higher doctor training and manufacturing costs, as well as higher legal fees than anticipated, partially offset by a sequential improvement in Invisalign average selling prices.
Looking ahead into the first quarter of 2019, the company expects net revenues in the range of $525 million to $535 million, up about 20% to 22% over last year. Invisalign case shipments are anticipated to be in the range of 340,000 to 345,000, up about 25% to 27% year-over-year. Earnings are predicted to be $0.78 to $0.84 per share and operating margin is projected to be 15.1% to 16.1% for the first quarter.
Also read: Align Technology Q4 2018 earnings call transcript
As of December 31, 2018, Align had $744.5 million in cash, cash equivalents and marketable securities compared to $761.5 million as of December 31, 2017. During the quarter, the company repurchased $50 million of its stock against stock buy-back authorizations and have $500 million still available for repurchase under the May 2018 repurchase program.
Shares of Align Technology ended Tuesday’s regular session up 0.24% at $222.03 on the Nasdaq. The stock has fallen over 19% in the past year and over 1% in the past three months.