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On July 26, 2023, Align reported its Q2 2023 earnings and offered guidance for Q3 2023 and revised upwards its full-year 2023 guidance. During the call Align officers stated that its product portfolio was largely resilient to inflation and other negative economic trends. However, on October 25, 2023, Align reported its Q3 2023 earnings which fell short of the previous guidance and analysts’ expectations. Align officers attributed this reduction to softness in the adult aligner market to macroeconomic trends.
Following this news, Align’s stock price fell by $74.78 per share, or approximately 28.2% to close at $190.94 per share.