Company: ALGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001097149-25-000064
Chunk: 151

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 151
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.1 million, primarily due to cash payments.2024 RestructuringDuring the fourth quarter of 2024, we initiated a restructuring plan to increase efficiencies across the organization which is expected to be completed in the second half of 2025. We incurred approximately $37.0 million in restructuring expenses, of 

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which $13.0 million remained unpaid and were included in Accrued liabilities as of December 31, 2024. During the first half of 2025, we reduced our December 31, 2024 restructuring liability by approximately $12.9 million primarily due to cash payments, offset by approximately $2.0 million of additional restructuring expense recorded in Cost of net revenues.The 2023 and 2024 restructuring activities were primarily related to employee severance and other one-time post-employment benefits.Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):Six Months EndedJune 30,20252024Balance at beginning of period1$13,001 $5,299 Restructuring charges2,030 (509)Cash payments and adjustments(12,914)(4,573)Balance at end of period 1$2,117 $217 1    Included in “Accrued liabilities” within our Condensed Consolidated Balance Sheets.

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Item 2.        Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

In addition to historical information, this Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, among other things, our expectations and intentions regarding our strategic objectives and the means to achieve them, our beliefs and expectations regarding macroeconomic conditions, including fluctuations in currency exchange rates, higher interest rates, market volatility, threats or actual imposition of tariffs, customs duties and fees by nations and retaliatory actions, inflation, threats of or actual economic slowdowns or recessions, or trade wars and geopolitical tensions, our expectations and beliefs regarding customer and consumer confidence, purchasing behavior and demand for dental services and changes in consumer spending habits; our expectations regarding implemented or proposed tariffs and retaliatory actions or other trade restrictions or measures taken by the United States and other countries that have or could impact our products and product sales, our expectations regarding product mix, product launches, product pilots