艾利科技 2025年季度报告

ndicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ TABLE OF CONTENTS Mine Safety Disclosures Other InformationExhibitsInvisalign, Align, the Invisalign logo, ClinCheck, Invisalign Assist, Invisalign Teen, Invisalign First, Invisalign Go, the Invisalign soniclogo, Vivera, SmartForce, SmartTrack, SmartStage, SmileView, iTero, iTero Element, iTero Lumina, Orthocad, exocad, Align DigitalPlatform, Invisalign Smile Architect, iTero exocad Connector and exocad Dental CAD, among others, are trademarks and/or service marksof Align Technology,Inc. or one of its subsidiaries or affiliated companies and may be registered in the United States and/or other2 (in thousands, except per share data)(unaudited) Note 1.Summary of Significant Accounting Policies Basis of Presentation and Preparation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Align Technology, Inc. (“we”,“our”, the “Company” or “Align”) on a consistent basis with the audited Consolidated Financial Statements for the year endedDecember31, 2024, and contain all adjustments, including normal recurring adjustments, necessary to fairly state the information set forthherein. These unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the rulesand regulations of Statements and notes thereto included in Item 8 of our Annual Report on Form10-K for the year ended December31, 2024 as filed with theSEC on February 28, 2025. The results of operations for the three months ended March31, 2025 are not necessarily indicative of the resultsthat may be expected for the year ending December31, 2025 or any other future period, and we make no representations related thereto. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions thataffect the amounts reported in our consolidated financial statements and accompanying notes.Actual results could differ materially from those estimates.On an ongoing basis, we evaluate our estimates, including those related to revenue recognition and deferred revenues,useful lives of intangible assets and property, plant and equipment, goodwill, income taxes, contingent liabilities, the fair values of financialinstruments, stock-based compensation and the valuation of investments in privately held companies among others.We base our estimateson historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for makingjudgments about the carrying values of assets and liabilities. Company maintains its cash and cash equivalents in bank accounts that exceed federally insured FDIC limits. Through March31, 2025, theCompany has not experienced any material credit losses on such deposits. We purchase certain inventory from sole suppliers.Additionally, we rely on a limited number of hardware manufacturers.The inabilityof any supplier or manufacturer to fulfill our supply requirements could materially and adversely impact our future operating results. (i) New Accounting Pronouncements Recently AdoptedOn November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07 disclosure requirements, primarily through enhanced disclosures about significant segment expenses and other segment expenses. Forpublic business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods “Segments and Geographical Information.” (ii) Recent Accounting Pronouncements Not Yet EffectiveOn December 14, 2023, the FASB issued ASU 2023-09,“Improvements to Income Tax Disclosures.”The amendments in this ASUrequire a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the ratereconciliation and to provide additional information for reconciling items that meet a quantitative Disaggregation Disclosures.”The amendments in this ASU require a public entity to disclose, in the notes to the financial statements,specified information about certain costs and expenses, including the amounts of inventory purchases, employee compensation, depreciationand intangible asset amortization. For public business entities, the provisions of ASU 2024-03 are effective for fiscal years beginning afterDecember 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. There will be Note 2.Financial Instruments Cash, Cash Equivalents and Marketable SecuritiesThe following tables summarize our cash, cash equivalents and marketable securities balances in our Condensed Consolidated Balance March 31, 2025CostGainsLossesFairValueEquivalentsshort-termlong-term$757,327$—$—$757,327$757,327$—$Money market funds100,608——100,608100,608—Certificate of deposits15,077——15,07715,077—$873,012$—$