v3.26.1
Segments and Geographical Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Summarized Financial Information and Non-Cash Expenses by Reportable Segment
Summarized financial information by reportable segment is as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net revenues
Clear Aligner$870,874 $804,617 $1,726,898 $1,601,460 
Systems and Services185,318 207,832 369,381 390,251 
Total net revenues$1,056,192 $1,012,449 $2,096,279 $1,991,711 
Cost of net revenues1
Clear Aligner
$249,370 $240,811 $492,525 $475,565 
Systems and Services
49,392 63,521 109,737 127,921 
Total cost of net revenues
$298,762 $304,332 $602,262 $603,486 
Gross profit
Clear Aligner$621,504 $563,806 $1,234,373 $1,125,895 
Systems and Services135,926 144,311 259,644 262,330 
Total gross profit$757,430 $708,117 $1,494,017 $1,388,225 
Other Segment expenses
Clear Aligner
$296,031 $296,795 $601,101 $598,660 
Systems and Services
58,274 58,574 115,916 118,130 
Unallocated corporate expenses
249,112 189,715 481,032 377,302 
Total operating expenses
$603,417 $545,084 $1,198,049 $1,094,092 
Segment income from operations
Clear Aligner$325,473 $267,011 $633,272 $527,235 
Systems and Services77,652 85,737 143,728 144,200 
Total segment income from operations
$403,125 $352,748 $777,000 $671,435 
1    Management has identified Cost of net revenues as a significant expense for our Clear Aligner and Systems and Services reportable segments.
The following table includes certain non-cash expenses for each reportable segment (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Stock-based compensation
Clear Aligner$6,387 $6,065 $12,336 $11,883 
Systems and Services406 403 783 806 
Unallocated corporate expenses38,767 41,740 73,365 80,516 
Total stock-based compensation$45,560 $48,208 $86,484 $93,205 
Depreciation and amortization
Clear Aligner1
$21,782 $19,495 $59,420 $38,399 
Systems and Services
10,572 9,302 21,106 17,771 
Unallocated corporate expenses
7,777 11,779 16,153 23,554 
Total depreciation and amortization$40,131 $40,576 $96,679 $79,724 
1 Includes $15.6 million of accelerated depreciation for the six months ended June 30, 2026 as disclosed in Note 1 “Summary of Significant Accounting Policies."
Reconciliation of Segment Income from Operations to Net Income Before Income Taxes
The following table reconciles total segment income from operations in the table above to net income before provision for income taxes (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Total segment income from operations$403,125 $352,748 $777,000 $671,435 
Unallocated corporate expenses(249,112)(189,715)(481,032)(377,302)
Total income from operations154,013 163,033 295,968 294,133 
Interest income4,636 2,859 8,547 8,175 
Other income (expense), net(9,956)7,624 (6,936)11,650 
Net income before provision for income taxes$148,693 $173,516 $297,579 $313,958 
Schedule of Net Revenues and Long-Lived Assets by Geographic Area
Net revenues are presented below by geographic area (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net revenues 1:
U.S. $395,174 $422,801 $799,662 $846,119 
Switzerland248,618 235,247 493,766 459,379 
Other International 412,400 354,401 802,851 686,213 
Total net revenues$1,056,192 $1,012,449 $2,096,279 $1,991,711 
1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.
Long-lived assets, which includes Property, plant and equipment, net and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):
June 30,
2026		December 31,
2025
Long-lived assets 1:
Switzerland$481,493 $493,584 
U.S. 197,317 200,343 
Other International550,815 545,848 
Total long-lived assets$1,229,625 $1,239,775 
1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.