Company: ALGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001097149-25-000034
Chunk: 127

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 127
---
$118,333 $124,377 Work in process69,432 73,660 Finished goods58,802 56,250 Total inventories$246,567 $254,287 Prepaid expenses and other current assets consist of the following (in thousands):March 31,2025December 31,2024Value added tax receivables $33,168 $34,028 Prepaid expenses104,081 82,978 Other current assets83,225 81,576 Total prepaid expenses and other current assets$220,474 $198,582 Accrued liabilities consist of the following (in thousands): March 31,2025December 31,2024Accrued payroll and benefits$192,101 $248,003 Accrued expenses73,120 66,391 Accrued income taxes47,838 48,808 Accrued sales and marketing expenses43,086 37,617 Current operating lease liabilities32,048 31,063 Accrued property, plant and equipment10,023 13,462 Other accrued liabilities147,957 152,844 Total accrued liabilities$546,173 $598,188 Accrued warranty, which is included in the “Other accrued liabilities” category of the Total accrued liabilities table above, consists of the following activity (in thousands):Three Months EndedMarch 31, 20252024Balance at beginning of period$31,211 $22,426 Charged to cost of net revenues4,719 5,449 Actual warranty expenditures(3,332)(3,312)Balance at end of period$32,598 $24,563 Deferred revenues consist of the following (in thousands):March 31,2025December 31,2024Deferred revenues - current$1,319,393 $1,331,146 Deferred revenues - long-term 1$93,317 $102,164 1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheets.During the three months ended March 31, 2025 and 2024, we recognized $979.3 million and $997.4 million of net revenues, respectively, of which $246.0 million and $236.8 million was included in the deferred revenues balance at December 31, 2024 and 2023, respectively.

12 

Our unfulfilled performance obligations