Company: ALGN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001097149-25-000079
Chunk: 233

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 233
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4 million during the fourth quarter of 2025 and through January 2026 pursuant to the open market repurchase program announced in August 2025. Refer to Note 10 “Common Stock Repurchase Program” of the Notes to Condensed Consolidated Financial Statements for details on our stock repurchase programs. 

•As of September 30, 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.

•In the third quarter of 2025, we initiated a restructuring plan which will continue through the fourth quarter of 2025. We anticipate incurring between approximately $40.0 million and $50.0 million in total restructuring expenses, primarily related to involuntary termination benefits, including employee severance and other post-employment benefits. 

Sources and Uses of Cash 

The following table summarizes our Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024 (in thousands):

 Nine Months EndedSeptember 30, 20252024Net cash provided by (used in):Operating activities$370,046 $452,153 Investing activities(76,529)(200,996)Financing activities(367,174)(152,703)Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash34,502 6,008 Net (decrease) increase in cash, cash equivalents and restricted cash$(39,155)$104,462 

Operating Activities

For the nine months ended September 30, 2025, cash flows from operations of $370 million resulted primarily from our net income of approximately $275 million as well as the following:

 Significant adjustments to reconcile net income to net cash provided by operating activities

•Depreciation and amortization of $135 million related to our investments in property, plant and equipment and intangible assets; 

•Stock-based compensation of $142 million related to equity awards granted to employees and directors;

•Non-cash operating lease costs of $30 million;

•Other non-cash operating activities of $29 million primarily related to an impairment loss on inventory and an increase in our bad debt allowance; and

•Impairment loss on Assets held for sale of $23 million.

Significant changes in working capital

37 

•Net outflow of $118 million in accounts receivable due to timing of collections; 

•Net outflow of $68 million in accrued and other long