Company: ALGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001097149-25-000034
Chunk: 154

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 154
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 requirements as of March 31, 2025 are as follows:

•Our purchase commitments consist primarily of open purchase orders for goods and services, including manufacturing inventory, supplies and services, sales and marketing, research and development services and technological services, issued in the normal course of business. There have been no material changes to our purchase commitments for goods and services during the three months ended March 31, 2025 as compared to the year ended December 31, 2024. 

•There have been no material changes to our future operating lease payments during the three months ended March 31, 2025 as compared to the year ended December 31, 2024. 

•We expect our investments in capital expenditures for fiscal year 2025 to be between $100 million and $150 million. Capital expenditures primarily relate to technology upgrades as well as additional manufacturing capacity in support of our continued expansion. Despite the challenging market conditions, we intend to continue to invest in research and development, manufacturing and treatment planning to meet actual and anticipated demand.

•In April 2025, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock, none of which has been utilized. We continually evaluate opportunities to repurchase shares of our common stock depending on various factors including our share price and current liquidity requirements. Refer to Note 10 “Common Stock Repurchase Program” of the Notes to Condensed Consolidated Financial Statements for details on our stock repurchase programs. 

31 

•As of March 31, 2025, we had no material off-balance sheet arrangements that have or are reasonably likely to have, a current or future material impact on our liquidity or capital resources.

•As of March 31, 2025, we agreed, in principle, to settle a legal matter for a total of $31.75 million. We expect to seek court or administrative approvals, as applicable, in the second quarter of 2025. Settlement payments will be made in accordance with the terms and conditions as set forth in the settlement agreements and/or court approvals. Refer to Note 7 “Legal Proceedings” of the Notes to Condensed Consolidated Financial Statements for more information.

Sources and Uses of Cash 

The following table summarizes our Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 2024 (in thousands):

 Three Months EndedMarch 31, 20252024Net cash flow provided by (used in):Operating activities