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©2026 Align Technology Inc. All rights reserved. Align Technology Q2 2026 | July 29, 2026 Contact: investorinfo@aligntech.com
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©2026 Align Technology Inc. All rights reserved. Safe Harbor and Forward-Looking Statements This presentation, including the tables below, contains forward-looking statements, including statements of our current intentions, beliefs and expectations regarding our ability to expand access to care, grow recurring revenue, and strengthen the Align Digital Platform by lowering the upfront cost of adoption; our continuing investments in expanding our digital platform ecosystem and supporting our doctor customers as they grow their practices and deliver exceptional patient outcomes; our growth initiatives continuing to drive doctor adoption, utilization, and patient conversion; lower price scanners and the transition toward lease and rental models increasing access to care by lowering adoption barriers and accelerating installed base growth; our belief that a larger, faster-growing installed base can expand the funnel for higher-margin treatment revenue and drive durable long-term growth; our integrated digital platform and disciplined execution positioning us to support customer growth, expand adoption and drive long-term profitable growth; our flexibility to invest in innovation, support our customers, and return capital to shareholders, and our commitment to disciplined capital allocation, financial flexibility and the creation of long-term value for shareholders; our belief that we are well positioned to build on the momentum we saw in the first half of 2026, and that our innovation roadmap and direct fabrication technologies can create more effective and personalized treatment solutions that improve clinical outcomes, enhance operating efficiency, and strengthen the customer experience across orthodontics and restorative dentistry; the impact of tariffs imposed under Section 122 of the Trade Act of 1974 on our results of operations; the impact of the Upper Tribunal's determination that clear aligners do not qualify as VAT-exempt dental prostheses on our invoices issued on or after September 7, 2026, and our statement that list prices for applicable Invisalign® aligners and Vivera retainers will remain unchanged; our estimated liability of approximately $37.5 million, inclusive of interest, related to UK VAT, and our intention to appeal; our expectations for Q3'26 worldwide revenues, Clear Aligner volume, Clear Aligner ASP, Systems and Services revenues (including as a result of a continued mix shift towards lower-priced scanners and flexible acquisition models), GAAP and non-GAAP gross margin (including our expectation that we will incur one-time charges expected to be approximately $20 to $30 million primarily for accelerated depreciation and restructuring and other charges in Q3'26), and GAAP and non-GAAP operating margin (including as a result of one-time charges expected to be approximately $35 to $50 million primarily for restructuring and other charges, and accelerated depreciation, in Q3'26); our expectations for fiscal year 2026 worldwide revenue growth (including our assumption that the impact of foreign exchange will be moderate in the remaining quarters, trending toward the full-year assumption of approximately 100 basis points), Clear Aligner volume growth, Clear Aligner ASP, Systems and Services revenue growth (including our assumptions regarding a continued mix shift towards lower-priced scanners and more flexible acquisition models in 2H’26, and double-digit year-over-year growth for iTero shipments, reflecting continued customer adoption and scanner placements), GAAP and non-GAAP gross margin (including our assumption regarding one-time charges expected to be approximately $30 to $40 million primarily for accelerated depreciation and restructuring and other charges, partially offset by gain on assets held for sale), GAAP and non-GAAP operating margin (including our assumption regarding one-time charges expected to be approximately $90 to $110 million, primarily related to restructuring and other charges, accelerated depreciation, and legal settlements, partially offset by gain on assets held for sale), and investments in capital expenditures; our expectations regarding the timing and amount of future stock repurchases, including our plans to repurchase $400 to $500 million of our common stock in 2026 due to the conviction of our board of directors and management in our long-term value; and our expectation that our fiscal 2027 GAAP and non-GAAP operating margins will improve by approximately 100 basis points year-over-year. Forward-looking statements contained in this press release are based upon information available to Align as of the date hereof. These forward-looking statements reflect our best judgments based on currently known facts and circumstances and are subject to risks and uncertainties, and assumptions that may be inaccurate. As a result, actual results may differ materially and adversely from those expressed or implied in any forward-looking statement. Factors that might cause such a difference include, but are not limited to: • macroeconomic conditions, including fluctuations in foreign currency exchange rates, higher interest rates, market volatility, inflation, general economic weakness, and threats of or actual slowdowns or recessions; • geopolitical events, such as wars, military conflicts (such as the ongoing military conflicts in the Middle East, including the hostilities involving Israel, Iran, and the United States, and geopolitical tensions involving Ukraine and China), terrorism and major public health crises, which could result in, among other things, disruptions to our supply chain and the global economy, energy shortages and elevated gasoline and other energy costs, inflation, decreased customer and consumer sentiment, uneven patient traffic at dental practices, and a shift in public opinion about companies based in the United States or in the regions where we operate; • trade policies, tariffs, customs duties and fees, and retaliatory actions, international trade disputes, or protectionist trade measures taken in response to or resulting from such measures; • customer and consumer purchasing behavior and changes in demand for dental services as a result of, among other things, prevailing macroeconomic conditions, declining customer confidence and consumer sentiment, consumer economic uncertainty, employment levels, health insurance coverage, wages, debt obligations, discretionary income, inflationary pressure, and perceptions of current and future economic conditions; • variations in our geographic, channel or product mix, product launches, product pilots and product adoption, and selling prices regionally and globally, including product mix shifts to lower priced products or to products and leasing or rental programs with a higher percentage of deferred revenue; • reductions, delays or shifts in purchasing or utilization of our products and services by doctors at dental support organizations, orthodontic service organizations and other large group practices; • competition from existing and new competitors; • competitive pressure from AI-powered technologies in the dental industry, regulatory and legal risks surrounding implementation of AI, and reputational harm from improper use of AI; • declines in, or the slowing of the growth of, sales of our clear aligners and intraoral scanners domestically and/or internationally and the impact either would have on the adoption of Invisalign products; • the possibility that the development and release of new products or enhancements to existing products do not proceed in accordance with the anticipated timeline or may themselves contain bugs, errors, or defects in software or hardware requiring remediation and that the market for the sale of these new or enhanced products may not develop as expected; • the timing, availability and cost of raw materials, components, products and other shipping and supply chain constraints and disruptions; • unexpected or rapid changes in the growth or decline of our domestic and/or international markets; • rapidly evolving and groundbreaking advances that fundamentally alter the dental industry or the way new and existing customers market and provide products and services to consumers; • our ability to protect our intellectual property rights; • our ability to comply with regulatory requirements and obtain and maintain regulatory approvals or clearances, including as a result of any shutdowns of the U.S. federal government or reductions in government personnel; • the willingness and ability of our customers to maintain and/or increase product utilization in sufficient numbers; • our ability to sustain or increase profitability or revenue growth in future periods (or minimize declines) while controlling expenses; • expansion of our business and products; • our ability to identify, complete, finance and integrate acquisitions, investments and other strategic transactions, and to realize the anticipated synergies and benefits of those transactions; • the impact of excess or constrained capacity at our manufacturing and treat operations facilities and pressure on our internal systems and personnel; • security breaches, data breaches, or other cybersecurity incidents involving any customer and/or patient data, and our failure to comply with laws, regulations and other obligations related to privacy, data protection, data governance and cybersecurity; • natural disasters and extreme weather conditions occurring in a region where one of our facilities or those of our customers or suppliers are located; • the timing of case submissions from our doctor customers within a quarter as well as increases in manufacturing cost per case; and • the loss of key personnel, labor shortages, or work stoppages for us or our suppliers. The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission ("SEC") on February 27, 2026 and our latest Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which was filed with the SEC on May 6, 2026. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason. 2
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©2026 Align Technology Inc. All rights reserved. Non-GAAP Financial Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles ("GAAP") in the United States ("U.S. GAAP"), we use the following non-GAAP financial measures: constant currency net revenues, constant currency gross profit, constant currency gross margin, constant currency income from operations, constant currency operating margin, constant currency diluted net income per share, non-GAAP constant currency gross margin, non-GAAP constant currency operating margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP total operating expenses, non-GAAP income from operations, non- GAAP operating margin, non-GAAP net income before provision for income taxes, non-GAAP provision for income taxes, non-GAAP effective tax rate, non-GAAP net income and non-GAAP diluted net income per share. These non- GAAP financial measures exclude certain items that may not be indicative of our fundamental operating performance, including foreign currency exchange rate impacts, the effects of stock-based compensation, amortization of intangible assets related to certain acquisitions, restructuring and other charges, legal settlements and contingencies, acquisition-related costs, discrete cash and non-cash charges or gains and associated tax impacts that are included in the most directly comparable GAAP financial measure. Our management believes that the use of certain non-GAAP financial measures provides meaningful supplemental information regarding our recurring core operating performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making, and (2) they are used by our institutional investors and the analyst community to help them analyze the performance of our business. There are material limitations to using non-GAAP financial measures as they are not prepared in accordance with U.S. GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. Non-GAAP financial measures exclude certain items that may have a material impact upon our reported results of operations, which can limit their usefulness for comparison purposes. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which charges and gains are excluded or included from the non-GAAP financial measures. We compensate for these limitations by analyzing current and future results on both a GAAP and non-GAAP basis and by providing specific information regarding the GAAP amounts excluded or included from these non-GAAP financial measures in our public disclosures. The presentation of non-GAAP financial information is meant to be considered in addition to, not as a substitute for, superior to, or in isolation from, the directly comparable financial measures prepared in accordance with U.S. GAAP. We urge investors to review the reconciliation of our GAAP financial measures to the comparable non-GAAP financial measures included herein and not to rely on any single financial measure to evaluate our business. For more information on these non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the tables captioned "Unaudited GAAP to Non-GAAP Reconciliation." 3
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©2026 Align Technology Inc. All rights reserved. Q2 2026 Financial Results
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Highlights Record Q2'26 revenues and record Clear Aligner volumes 5 We delivered a solid second quarter with record revenues of $1.06 billion, up 4.3% year-over-year, driven by record Clear Aligner volumes of 691.8 thousand cases and 8.2% Clear Aligner revenue growth. Q2'26 revenues and Clear Aligner volumes were in line with our outlook, while Clear Aligner ASPs and non-GAAP operating margin of 22.9% exceeded our expectations. Q2’26 year-over-year Clear Aligner volume growth of 7.4% was driven by continued double-digit expansion across APAC, EMEA, and Latin America, together with stable performance in North America. Growth reflected continuing adoption across orthodontist and GP dentist channels and across adult, teen, and growing patient segments, as well as continued double-digit growth from DSOs. Investments in patient financing, clinical support programs, doctor subscription offerings, and practice productivity solutions supported adoption and utilization across our global Invisalign® business. In Systems and Services, Q2’26 revenue performance reflected persistent softness in the capital equipment market as well as a shift toward lower-priced scanners and flexible acquisition models, including leasing and rental programs, which generate lower upfront revenue than traditional scanner purchases. Overall, our second quarter results reflect continued execution against a volatile macroeconomic backdrop. While the environment created some noise in the quarter, the underlying momentum in the business—driven by ongoing investments in innovation, customer engagement, and digital workflows—continues to support improvements in practice productivity, patient conversion, and treatment adoption.
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Revenues and Operating Performance 6 Q2’26 FX Impact: Q/Q: ~$6.1M unfavorable impact from FX* Y/Y: ~$12.5M favorable impact from FX* Q2’26: $1,056.2M Q/Q +1.5% Y/Y +4.3% Q2’25: $1,012.4M Q/Q +3.4% Y/Y (1.6)% TOTAL SYSTEMS & SERVICES REVENUES TOTAL CLEAR ALIGNER REVENUES GAAP OPERATING PROFIT | OPERATING MARGIN Q2’26 FX Impact: Q/Q: ~$7.3M unfavorable impact from FX* Y/Y: ~$13.2M unfavorable impact from FX* Q2’26: $154.0M | 14.6% Q/Q +1.0 pts Y/Y (1.5) pts Q2’25: $163.0M | 16.1% Q/Q +2.7% pts Y/Y +1.8% pts Q2’26 FX Impact: Q/Q: ~$1.0M unfavorable impact from FX* Y/Y: ~$1.9M favorable impact from FX* Q2’26: $185.3M Q/Q +0.7% Y/Y (10.8)% Q2’25: $207.8M Q/Q +13.9% Y/Y +5.6% Q2’26 FX Impact: Q/Q: ~$5.1M unfavorable impact from FX* Y/Y: ~$10.6M favorable impact from FX* Q2’26: $870.9M Q/Q +1.7% Y/Y +8.2% Q2’25: $804.6M Q/Q +1.0% Y/Y (3.3)% *See table: Unaudited GAAP to Non-GAAP Reconciliation Consistent execution strengthening growth and operating performance TOTAL REVENUES
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Revenue Summary Commentary 7 *See table: Unaudited GAAP to Non-GAAP Reconciliation • Q2'26 Total revenues were $1,056.2M, +4.3% Y/Y • Y/Y, On a constant currency basis, Q2'26 revenues were favorably impacted by FX of $12.5M or ~1.2%*, in-line with our Q2 expectations • Q2'26 Clear Aligners revenues were $870.9M, +8.2% Y/Y • Y/Y, Q2'26 increase primarily due to higher volume, price increases, lower net deferrals and favorable FX, partially offset by mix shift to lower priced countries and products and higher discounts • Y/Y, Q2'26 revenues were favorably impacted by FX of $10.6M or ~1.2%* • Q2'26 Clear Aligner average per case shipment price of $1,260, +0.8% or $10 per case on a Y/Y basis, primarily due to price increases, lower net deferrals, favorable FX, partially offset by mix shift to lower priced countries and products and higher discounts • Q2'26 Systems and Services revenues were $185.3M, (10.8)% Y/Y • Y/Y, Q2’26 revenues reflected lower system ASPs, driven in part by increased adoption of lower-cost configurations and lower scanner wand sales, partially offset by higher systems volume, higher non-system sales and favorable FX • Y/Y, Q2'26 revenues were favorably impacted by FX of $1.9M or ~1.0%* Record quarterly revenues driven primarily by higher Clear Aligner volumes and increased ASPs Q/Q and Y/Y percentages are based on actual values. Rounding may affect totals
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Trended Revenues, Clear Aligner Case Volume, and Intl Mix Trends 8 $804.6 $805.8 $838.1 $856.0 $870.9 $207.8 $189.9 $209.4 $184.1 $185.3 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Clear Aligner Systems & Services 644.4 647.8 676.9 685.7 691.8 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $1,012.4 $995.7 $1,047.6 +1.5% Q/Q +4.3% Y/Y Q2’26 NET REVENUES ($M) +0.9% Q/Q +7.4% Y/Y Q2’26 CLEAR ALIGNER CASE VOLUME (#K) 49%51% AMSINTL 47%53% AMSINTL INTL ~+2pts* Y/Y growth TOTAL CLEAR ALIGNER VOLUMES INTL & AMS MIX $1,040.1 49%51% AMSINTL 46%54% AMSINTL INTL ~+3pts* Y/Y growth TOTAL CLEAR ALIGNER REVENUES INTL & AMS MIX *Rounding may affect totals Expanding international mix Q2’25 Q2’26 Q2’25 Q2’26 $1,056.2
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Clear Aligner Performance: Volume, Utilization, and ASP 9 644.4 685.7 691.8 Q2'25 Q1'26 Q2'26 *Number of cases shipped/number of doctors to whom cases were shipped +0.9% Q/Q +7.4% Y/Y (#K) WW CLEAR ALIGNER SHIPMENTS WW CLEAR ALIGNER TOTAL UTILIZATION* Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 WW ASP $1,295 $1,275 $1,265 $1,240 $1,250 $1,245 $1,240 $1,250 $1,260 $900 $1,000 $1,100 $1,200 $1,300 $1,400 Average Selling Price (“ASP”): Clear Aligner revenues / Case shipments CLEAR ALIGNER REVENUE PER CASE SHIPMENT 7.5 7.8 7.8 Q2'25 Q1'26 Q2'26 • Clear Aligner shipments reached a record 691.8K cases, +7.4% Y/Y • Record +89.2K doctors submitted Invisalign® cases globally, +3.4% Y/Y • Doctor utilization increased Y/Y +3.8%, reflecting growth across all regions • Shipments to Orthodontists +7.8% Y/Y and shipments to GP dentists +6.6%, demonstrating ongoing momentum across both customer channels
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©2026 Align Technology Inc. All rights reserved. Doctor Subscription Program (DSP) • Driving strong growth and retention across key markets • Supporting Orthos and DSOs with simplified pricing • Expanding globally Q2 2026 | Driving Adoption Through Targeted Growth Initiatives 10 Patient Financing Healthcare Finance Direct (HFD): • Pre-qualification improving affordability and conversion • Increasing confidence and flexibility during consultations • Strong adoption validating patient- centric financing models • Result: Faster approvals, improved conversion, scalable implementation Invisalign Pay (Brazil → LATAM): • Improving affordability and conversion; widely adopted in Brazil (majority of cases) • Strong doctor and patient uptake - validating embedded, patient-centric financing Peer-to-Peer Mentoring • Clinical programs increasing provider confidence and engagement • Particularly effective for GPs, complex cases, and new technology adoption • Expanding globally based on strong participation and outcomes Treatment Planning Services (TPS) • Provides case assessment and planning support to improve confidence • TPS users consistently deliver higher case starts than non-users Improving affordability, conversion, clinical confidence, and practice efficiency Practice Economics Affordability & Access Clinical Confidence Practice Efficiency Adoption of programs such as DSP, patient financing solutions, and Comp Zero AA - designed to support practice growth while improving affordability and access for patients - remain encouraging
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Clear Aligner Shipments by Patient Segment 11 421 392 446 449 453 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Adults 223 256 231 237 239 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Teens and Kids +1.1% Q/Q +7.2% Y/Y(#K) WW CLEAR ALIGNER SHIPMENTS TEENS AND KIDS +0.8% Q/Q +7.5% Y/Y(#K) WW CLEAR ALIGNER SHIPMENTS ADULTS For teens and growing patients, treatment starts +7.2% Y/Y to 239.2K Invisalign® cases, led by China, Japan, Turkey, India and Brazil • Continued adoption of Invisalign First , the Invisalign® Palatal Expander System, and mandibular advancement with occlusal blocks reflects greater doctor confidence in our growing patient portfolio and reinforces the significant long-term opportunity we see in these categories ~23.5M* patients treated WW including +7.0M* teens and kids: patient adoption continues to expand globally *As of Q2’26
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Systems and Services Segment 12 $207.8 $184.1 $185.3 Q2'25 Q1'26 Q2'26 CAD/CAM and Services revenues represent +53%* of our Systems and Services business, +8.6 pts* Y/Y +0.7% Q/Q (10.8)% Y/Y IMAGING SYSTEMS AND CAD/CAM SERVICES ($M) SYSTEMS & SERVICES REVENUES • Q2 revenue of $185.3M was down 10.8% Y/Y as a result of lower scanner ASPs partially offset by double-digit growth in unit placements--driven by continued challenges in the capital equipment market with higher interest rates and increased macro uncertainty • We continue to lower the total acquisition cost of and expand access to intra-oral scanning by offering doctors a range of purchasing options for the iTero Lumina scanner that best fit the needs, budgets and cash flows of our customers including, lower-cost configurations such as iTero Lumina PC and Certified Pre-Owned scanners, and rental and lease programs • Importantly, while growing adoption of these purchasing options creates a near-term headwind to reported revenue and profitability, this is an intentionally and strategically attractive evolution of the business. By lowering the upfront cost of adoption, we can expand access to care, grow recurring revenue, and strengthen the Align Digital Platform • We’re already seeing the benefits of this strategy. During Q2, scanner placements to new doctors reached a record level and increased double-digits Y/Y, driven by continued adoption of iTero Lumina. Active scanner units also grew double digits Y/Y, while more than 12.4M restorative, wellness, and orthodontic scans were performed during the quarter, an increase of 16% Y/Y *Q2’26, Rounding may affect totals Healthy scanner placements, growth in active units, and increasing digital workflow utilization support communication between doctors and patients to improve patient oral health and aesthetics and strengthen the connection between diagnostics, treatment planning, restorative workflows, and orthodontic treatments, including clear aligner adoption
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©2026 Align Technology Inc. All rights reserved. • Our exocad CAD/CAM business delivered double-digit year-over-year revenue growth in Q2, reinforcing our strategy to expand access to care by seamlessly integrating orthodontics and restorative dentistry, across the Align Digital Platform Q2 2026 | exocad CAD/CAM software 13 Leveraging exocad to expand our digital platform across orthodontic and restorative applications • exocad hosted Insights 2026 from April 30–May 1 in Palma de Mallorca, Spain, attracting over 850 dental professionals from 44+ countries • The global event strengthened customer and industry partner engagement through its program focused on education, innovation, and collaboration and celebrating exocad’s users • exocad showcased the latest digital dentistry technologies and workflows, including exocad ART (which is short for Advanced Restorative Treatment), through a premium main-stage program, innovation expo, and participating industry partners • Expanded global reach from Mallorca to the world Digital dentistry community unites at Insights 2026 Global experts gathered for education, innovation, and collaboration at exocad’s flagship event • With more than 100K Instagram followers, exocad has built one of the largest B2B social media communities in the dental industry • This achievement places exocad on par with significantly larger dental companies • The 100K milestone demonstrates the strength of the exocad brand, the engagement of our global community, and exocad’s position as a leading voice in digital dentistry worldwide exocad surpasses 100K+ followers on Instagram One of the largest communities in digital dentistry
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Trended GAAP Gross Margins 14 *See table: Unaudited GAAP to Non-GAAP Reconciliation • Overall, Q2'26 gross margin was 71.7%, +1.8 pts Y/Y primarily due to operational efficiencies, tariff refund, and higher Clear Aligner ASP • Y/Y, Q2’26 overall gross margin was unfavorably impacted by FX of ~0.8 pts* • On a non-GAAP basis, which excludes stock-based compensation, amortization of intangibles related to certain acquisitions, depreciation expense on assets disposed of other than by sale, and restructuring and other non-GAAP charges, Q2'26 non-GAAP gross margin was 72.3%, +1.8 pts Y/Y*, or up ~2.6 pts at constant currency • Q2'26 Clear Aligner gross margin was 71.4% • +1.3 pts Y/Y primarily due to higher ASP and operational efficiencies, partially offset by higher freight costs. FX unfavorably impacted Clear Aligner gross margin by ~0.8 pts Y/Y • Q2'26 Systems and Services gross margin was 73.3% • +3.9 pts Y/Y primarily due to operational efficiencies and tariff refund, partially offset by lower ASP. On a Y/Y basis, FX unfavorably impacted on Q2 Systems and Services gross margin by ~0.6 pts Y/Y 69.9% 64.2% 65.3% 70.8% 71.7% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GROSS MARGIN % +0.9% Q/Q +1.8% Y/Y
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©2026 Align Technology Inc. All rights reserved. OPERATING EXPENSE ($M) Q2 2026 | Trended GAAP Operating Expenses 15 *See table: Unaudited GAAP to Non-GAAP Reconciliation • Q2'26 Operating expenses were $603.4M, +10.7% Y/Y • Y/Y, Q2'26 operating expenses increased by +$58.3M, primarily due to UK VAT accrual and higher employee compensation • On a non-GAAP basis, excluding stock-based compensation, legal settlements and contingencies, restructuring and other charges, and amortization of acquired intangibles related to certain acquisitions, Q2’26 non-GAAP operating expenses were $521.5M, +4.8% Y/Y* $545.1 $542.9 $528.3 $594.6 $603.4 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 +1.5% Q/Q +10.7% Y/Y
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©2026 Align Technology Inc. All rights reserved. OPERATING MARGIN % & DILUTED EPS Q2 2026 | Trended GAAP Operating Margin and EPS 16 *See table: Unaudited GAAP to Non-GAAP Reconciliation • Q2'26 Operating income of $154.0M resulting in a Q2'26 operating margin of 14.6%, (1.5) pts Y/Y • Q2'26 Operating margin was unfavorably impacted from FX by ~1.4 pts Y/Y* • Q2'26 non-GAAP Operating margin, which excludes stock-based compensation, legal settlements and contingencies, restructuring and other non-GAAP charges, and amortization of acquired intangibles related to certain acquisitions, was 22.9%, +1.6 pts Y/Y* or up ~3.1 pts at constant currency • The GAAP effective tax rate was 27.2%, compared to 28.2% in the second quarter of 2025 • The second quarter GAAP effective tax rate was lower than the second quarter effective tax rate of the prior year primarily due to increased earnings in low tax jurisdictions • Our non-GAAP effective tax rate was 20%, which reflects our long-term projected tax rate • Q2'26 net income per diluted share was $1.51, ($0.20) compared to the prior year • On a non-GAAP basis, net income per diluted share was $2.64 for Q2, +6.0% Y/Y • Out GAAP and non-GAAP EPS was unfavorably impacted by $0.23 on a Y/Y basis due to FX 16.1% 9.7% 14.8% 13.6% 14.6% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $1.72 $0.78 $1.89 $1.57 $1.51 +1.0% Q/Q (1.5)% Y/Y Diluted EPS
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Trended Quarterly Financials 17 $545.1 $542.9 $528.3 $594.6 $603.4 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 16.1% 9.7% 14.8% 13.6% 14.6% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $1.72 $0.78 $1.89 $1.57 $1.51 Diluted Earnings Per Share OPERATING MARGIN % & DILUTED EPS 69.9% 64.2% 65.3% 70.8% 71.7% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GROSS MARGIN % $497.6 $463.3 $480.9 $523.1 $521.4 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 21.3% 23.9% 26.1% 21.5% 22.9% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $2.49 $2.61 $3.29 $2.58 $2.64 Diluted Earnings Per Share 70.5% 70.4% 72.0% 71.8% 72.3% Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 GAAP Non-GAAP* *See table: Unaudited GAAP to Non-GAAP Reconciliation OPERATING EXPENSE ($M) GROSS MARGIN % OPERATING EXPENSE ($M) OPERATING MARGIN % & DILUTED EPS
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Balance Sheet & Cash Flow 18 • As of June 30, 2026, cash and cash equivalents were $1,102.6M, and up $201.4M Y/Y. Of the $1,102.6M, $241.1M was held in the U.S. and $861.5 was held by our international entities • Align maintains a disciplined capital return program. During Q2'26, we repurchased approximately 393.4 thousand shares of our common stock at an average price of $169.45 per share. These purchases were made pursuant to the $200.0 million open market repurchase plan announced on April 29, 2026, which we expect will be completed in October 2026. In connection with the expanded value-creation initiatives announced today, we now intend to repurchase an aggregate of approximately $400 million to $500 million of our common stock during full-year 2026, inclusive of repurchases under the $200.0 million plan. As of June 30, 2026, $733.3 million remains available for repurchases of our common stock under our $1.0 billion stock repurchase program announced in April 2025 *Free cash flow is defined as cash flow from operations less capital expenditures and is a non-GAAP measure Rounding may affect totals ($ in millions except for DSO) Q2’25 Q1’26 Q2’26 Accounts Receivables, net $1,116.2 $1,125.1 $1,148.4 DSO 99 days 97 days 98 days Cash, Cash Equivalents, and Short-Term and Long- Term Marketable Securities $901.2 $1,059.8 $1,102.6 Cash Flow from Operations $128.7 $151.0 $192.8 Capital Expenditures $(21.5) $(30.8) $(35.7) Free Cash Flow* $107.2 $120.3 $157.1
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©2026 Align Technology Inc. All rights reserved. impressions7.3B website visits34M Q2’26, globally Q2 2026 | Leveraging Brand Trust to Unlock Orthodontic Growth Building long-term demand in a large, underserved market Advertising response underscores powerful digital reach and brand resonance • Invisalign® stands as the most trusted brand in global orthodontics, with an unwavering focus on driving long-term demand—even amid challenging macro conditions for doctors and patients • The market for clear aligner treatment, particularly among teens and kids, remains vast and largely untapped. Invisalign clear aligner treatment is as effective as braces and delivers results faster, yet most orthodontic cases are still managed with traditional brackets and wires • Our strategy centers on differentiation and communicating Invisalign’s superiority, a critical driver for increasing our share of orthodontic case starts, especially among teens and their parents. By collaborating with trusted influencers and sharing authentic patient stories, we celebrated our 23 million patient milestone, elevating awareness and education around Invisalign’s unique benefits • To sustain awareness and educate young adults, parents, and teens about the advantages of Invisalign, we deployed targeted campaigns on leading platforms including Meta, TikTok, Google, YouTube, WeChat, Douyin and expanded to Reddit, ensuring our message reaches audiences across diverse markets. • For adults, our global campaigns featured stories from real patients that highlight the impact that healthier Invisalign smiles have on their overall systemic health and also their confidence. • Engaging young adults, teens, and their parents requires dynamic outreach, and we’ve leveraged influencer partnerships and creator-led campaigns to forge genuine connections Targeted, platform-led approach to demand creation across generations
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©2026 Align Technology Inc. All rights reserved. Q2 2026 | Demand Creation Delivering scale, engagement, and education across key consumer audiences Across all regions, our focus on education, authenticity, and scale reinforced Invisalign’s brand leadership and sustained demand creation • Partnered with real Invisalign® patients- adults, teens, and parents- to highlight confidence, differentiation, and oral-health benefits • Campaigns were amplified across Meta, TikTok, YouTube, PR, and live brand experiences, including Super Bowl activations and national broadcast education Result: 3.9B impressions and 12.3M unique website visitors in Q2 • Expanded consumer media in France and Poland and launched new activity in Sweden: strengthening visibility and consideration through targeted search and social Result: 1.1B impressions and 7.3M unique website visitors in Q2 • Launched locally relevant campaigns across Japan, India, Australia, and other markets featuring: real transformation stories and education on Invisalign ® science and Invisalign for Kids Result: 2.3B impressions and 14M unique website visitors in Q2 AMERICAS EMEA APAC Social media and influencer marketing Teen, Adult and Moms of teens Social media (paid & organic) launched in Poland & France Real stories. Real patients shared across omnichannel media
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©2026 Align Technology Inc. All rights reserved. Business Outlook & Management Comments
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©2026 Align Technology Inc. All rights reserved. Fiscal 2026 Business Outlook 22 Assuming no circumstances occur beyond our control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees that could impact our business: Q3'26: We expect Q3’26 worldwide revenues to be in the range of $1,000M to $1,020M, down sequentially from Q2’26. We expect Q3’26 Clear Aligner volume to be up mid-single digits year-over-year and Q3’26 Clear Aligner ASP to be down sequentially from geographic mix and foreign exchange. We expect Q3'26 Systems & Services revenue to be down sequentially and year-over-year as a result of Q3 seasonality alongside a continued mix shift towards lower-priced scanners and flexible acquisition models, including leasing and rental units, and certified pre-owned offerings. We expect Q3’26 worldwide GAAP Gross Margin to be 67.5% to 68.5%, down sequentially approximately by 3 to 4 points, due to the incurrence of one-time charges expected to be approximately $20 to $30 million primarily for accelerated depreciation and restructuring and other charges in Q3'26. We expect Q3'26 non-GAAP Gross Margin to be approximately 71.0%, down sequentially from lower ASPs, consistent with typical Q3 quarter-over-quarter trends. We expect our Q3’26 GAAP Operating Margin to be between 13.5% and 15.0%, due to the incurrence of one-time charges expected to be approximately $35 to $50 million primarily for restructuring and other charges, and accelerated depreciation in Q3'26. We expect Q3'26 non-GAAP Operating Margin to be approximately 24.0%.
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©2026 Align Technology Inc. All rights reserved. Fiscal 2026 Business Outlook 23 Assuming no circumstances occur beyond our control, such as foreign exchange, macroeconomic conditions, an extended war, and changes to currently applicable duties, including tariffs or other fees that could impact our business: For Fiscal 2026: We continue to expect 2026 worldwide revenue growth to be up 3% to 4% year-over-year. Our full year 2026 revenue guidance continues to assume a benefit from foreign exchange that is consistent with the assumptions underlying our initial full year outlook. We expect the impact of foreign exchange to moderate in the remaining quarters, trending toward the full-year assumption of approximately 100 basis points. We now expect 2026 Clear Aligner volume growth to be up approximately 6% year-over-year and 2026 Clear Aligner ASP to be flat to slightly down from 2025. We now expect 2026 Systems & Services revenue growth to be down 6% to 8% year-over-year as we anticipate a continued mix shift towards lower-priced scanners and more flexible acquisition models in 2H’26. We expect our 2026 iTero scanner shipment growth to be up double-digits year-over-year, reflecting continued customer adoption and scanner placements - and helping to underpin our second half outlook for Invisalign® volumes. We expect 2026 GAAP Gross Margin to be approximately 70.2% to 70.5%, up year-over-year by approximately 3 points, due to the incurrence of one-time charges expected to be approximately $30 to $40 million primarily for accelerated depreciation and restructuring and other charges, partially offset by gain on assets held for sale. We expect 2026 non-GAAP Gross Margin to be up approximately 100 basis points over 2025 non-GAAP Gross Margin. We expect 2026 GAAP Operating Margin to be approximately 15.1% to 15.6%, up year-over-year by approximately 2 points, due to the incurrence of one-time charges expected to be approximately $90 to $110 million, primarily related to restructuring and other charges, accelerated depreciation, and legal settlements, partially offset by gain on assets held for sale. In Q2'26 we recorded $38 million for clear aligner UK VAT liability. We expect 2026 non-GAAP Operating Margin to be approximately 23.7%, a 100-basis point improvement year-over-year consistent with our previous guidance. We expect our investments in capital expenditures for fiscal 2026 to be $125 million to $150 million. Capital expenditures primarily relate to technology upgrades, additional manufacturing capacity as well as maintenance. We now expect to repurchase $400 million to $500 million of our common stock in 2026, reflecting the conviction of the Board and Management in Align's long-term value. This includes approximately $133 million of our common stock we expect to repurchase through October 2026. Commenting on the Company’s outlook, Align Technology CFO and EVP Global Finance, John Morici said, “I want to take a moment to offer some preliminary, high-level framing for 2027, especially given the work we are doing to drive growth, cost discipline and margin expansion. To be clear—we are not issuing formal guidance for next year—it’s too early and our strategic and operating model review is still underway. However, we remain laser focused on executing our strategic plan for profitable revenue growth across our two operating segments. Based on our continued progress and the initiatives we outlined in the Strategic Initiatives press release today, we are comfortable targeting at least that same level of improvement in operating margin again in fiscal 2027, on top of the approximately 100 basis points of operating margin improvement we reiterated today for fiscal 2026. For fiscal 2027, we currently expect GAAP and non-GAAP operating margins to increase at least approximately 100 basis points year-over- year. We’ll share more details after our strategic and operating model review is complete and in conjunction with formal 2027 guidance.”
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©2026 Align Technology Inc. All rights reserved. CEO Closing Comments 24 As we look at the first half of 2026, we are encouraged by the progress across the business. Through the first six months of the year, we delivered record Clear Aligner volumes, expanded doctor adoption and utilization, increased scanner placements, improved margins, and continued to execute against our strategic priorities. Importantly, we achieved these results in an environment that remains uneven across markets and customer segments, reinforcing the strength of our global business. We saw strong momentum across APAC, EMEA, and Latin America, despite the macro-economic headwinds. North America remained relatively stable overall, with continued strength in the DSO channel helping offset softer retail demand. That said, returning North America retail to consistent growth remains a top priority and we are working to make that happen. The customer-focused initiatives we have been pursuing—financing solutions, DSP, clinical education and support, and DSO collaboration—are gaining traction and we are encouraged by the early results. As we enter the second half of 2026, we believe we are well positioned to build on this momentum. We are entering the important teen treatment season with one of the industry's most comprehensive digital treatment portfolios for growing patients and teens. At the same time, we continue to expand opportunities in adult treatment through innovations that connect oral health, restorative workflows, and digital orthodontics, helping doctors incorporate Invisalign treatment into broader patient care discussion. Our innovation engine remains a key differentiator and central to our growth strategy. Business model innovation, patient financing, subscription programs such as DSP, no-AA offerings, and digital workflow innovation are helping doctors improve patient conversion, increase utilization, and grow their practices. Every digital workflow begins with a scan, making scanner adoption an important driver to increasing patient access to orthodontic care and long term platform growth. As we continue to advance our innovation roadmap and direct fabrication technologies, we are creating more effective and personalized treatment solutions that improve clinical outcomes, enhance operating efficiency, and strengthen the customer experience across orthodontics and restorative dentistry. Our focus remains unchanged: helping doctors treat more patients, expanding patient access to care, and advancing digital orthodontics and digital dentistry globally. We remain realistic about the environment but encouraged by our results and ability to address the significant opportunities ahead. Importantly, the combination of our global scale, strong international momentum, continued innovation, and an increasingly integrated digital platform uniquely positions Align to drive adoption of the Invisalign Clear Aligners and iTero Systems and Services, while creating long-term value for customers, partners, employees, and shareholders.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Net Revenues 26 Note: 1) We define constant currency net revenues as total net revenues excluding the effect of foreign exchange rate movements and use it to determine the percentage for the constant currency impact on net revenues on a sequential and year-over-year basis. Constant currency impact in dollars is calculated by translating the current period GAAP net revenues using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues. The percentage for the constant currency impact on net revenues is calculated by dividing the constant currency impact in dollars (numerator) by constant currency net revenues in dollars (denominator). (+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Gross Profit and Gross Margin 27 Note: 1) We define constant currency gross profit as GAAP gross profit excluding the impacts of foreign exchange rate fluctuations on net revenues and cost of net revenues. We define constant currency gross margin as constant currency gross profit as a percentage of constant currency net revenues. Gross margin constant currency impact is the increase or decrease in constant currency gross margin compared to the GAAP gross margin. (+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Income from Operations and Operating Margin 28 Notes: 1) Beginning in Q1 2026, we define constant currency income from operations as GAAP income from operations excluding the effect of foreign exchange rate movements for GAAP gross profit and operating expenses on a sequential and year-over-year basis. Constant currency impact in dollars is calculated by translating the current period gross profit and operating expenses using the foreign currency exchange rates that were in effect during the previous comparable period and subtracting it by the current period GAAP net revenues and operating expenses. 2) We define constant currency operating margin as constant currency income from operations as a percentage of constant currency net revenues. Operating margin constant currency impact is the increase or decrease in constant currency operating margin compared to the GAAP operating margin. (+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Constant Currency Diluted Net Income Per Share 29 Notes: 1) Constant currency diluted net income per share is computed by dividing GAAP net income excluding the impacts of foreign exchange rate fluctuations on GAAP operating income and non-operating income and expense by the weighted average diluted shares outstanding during the period. Diluted net income per share constant currency impact is the increase or decrease in constant currency diluted net income per share compared to the GAAP diluted net income per share. (+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited Constant Currency Impact on Non-GAAP items 30
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Unaudited GAAP to Non-GAAP Reconciliation Financial Measures Other Than Constant Currency 31 Notes: 1) Amortization of intangible assets related to certain acquisitions. 2) During the fourth quarter of 2024 and the third quarter of 2025, we initiated restructuring plans to reduce headcount and increase efficiency across the organization and lower the overall cost structure. Restructuring charges are primarily related to involuntary termination benefits, including employee severance and other post-employment benefits. 3) During the third quarter 2025, we originally recorded an impairment loss related to a manufacturing facility disposal group that met the criteria to be classified as assets held for sale. During the first quarter of 2026, we recognized a gain of $11.7 million resulting from an increase in fair value less costs to sell related to these assets held for sale. 4) During the third quarter 2025, we initiated the disposal, other than by sale, of certain manufacturing fixed assets. Accordingly, we revised the useful lives of these assets and recorded accelerated depreciation expense. 5) During the first quarter 2026, we recorded other non- recurring charges related to the disposal of certain manufacturing fixed assets. 6) During the second quarter 2026, we recorded approximately $37.5 million related to UK VAT contingency loss, and approximately $1.2 million related to legal settlements. (+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of presentation.
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©2026 Align Technology Inc. All rights reserved. Appendix & Additional Details | Q3 2026 and Fiscal 2026 Outlook – GAAP to Non-GAAP Reconciliation 32 Notes: 1) Amortization of intangible assets related to certain acquisitions 2) Represents accelerated depreciation on manufacturing assets disposed of, or expected to be disposed of, other than by sale in connection with the Company's 2025 restructuring and planned 2026 manufacturing optimization activities. In Q1 2026, $15.6 million, or 0.4%, impact was included in “Asset sale, accelerated depreciation and restructuring charges. 3) Restructuring and other charges are primarily related to involuntary termination benefits, including employee severance and other post-employment benefits. 4) During the third quarter 2025, we originally recorded an impairment loss related to a manufacturing facility disposal group that met the criteria to be classified as assets held for sale. During the first quarter of 2026, we recognized a gain of $11.7 million resulting from an increase in fair value less costs to sell related to these assets held for sale. 5) During the first quarter 2026, we recorded approximately $30.6 mullion related to legal settlements. During the second quarter 2026, we recorded approximately $37.5 million related to UK VAT contingency loss, and approximately $1.2 million related to legal settlements.
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©2026 Align Technology Inc. All rights reserved. 33 As a result of the Supreme Court's ruling on February 20, 2026, that certain of the tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were unlawful, we are no longer subject to IEEPA tariffs, but are subject to new, temporary tariffs on imports under Section 122 of the Trade Act of 1974, effective February 24, 2026, which was subsequently held unlawful by the U.S. Court of International Trade in a decision that remains subject to appeal. We do not expect this change to have a material impact on our results. Appendix & Additional Details | Tariff Update, as of June 30, 2026
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©2026 Align Technology Inc. All rights reserved. 34 Following the First-tier Tribunal's 2025 decision that clear aligners qualify as VAT-exempt dental prostheses, we stopped charging VAT to UK customers effective August 1, 2025. On July 7, 2026, the UK Upper Tribunal overturned that decision, determining that clear aligners do not qualify as VAT-exempt dental prostheses. We acknowledge the ruling and will comply with applicable law. Effective September 7, 2026, invoices will include UK VAT at 20% on applicable Invisalign® aligners and Vivera retainers — our list prices remain unchanged. As a result of the ruling, we have recorded an estimated liability of approximately $37.5 million, inclusive of interest. We intend to appeal, though the ultimate resolution remains subject to uncertainty. Appendix & Additional Details | UK VAT Update as of July 7, 2026
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Connected Data and New Data Sources Connected Users and Community Connected Workflows and Seamless Experiences TRUSTED digital platform ©2026 Align Technology Inc. All rights reserved. TM
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©2026 Align Technology Inc. All rights reserved. ©2026 Align Technology Inc. All rights reserved.