Align Technology, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $410.4M | $421.4M | $445.1M | $361.6M | $772.0M | $1.78B | $442.8M | $400.2M |
| Depreciation & Amortization | $237.4M | $145.0M | $142.4M | $125.8M | $108.7M | $93.5M | $79.0M | $54.7M |
| Depreciation | $218.6M | $126.2M | $126.0M | $109.8M | $92.1M | $80.1M | $73.1M | — |
| Amortization | $18.8M | $18.9M | $16.4M | $16.0M | $16.6M | $13.4M | $5.9M | $6.0M |
| Stock-Based Compensation | $185.9M | $173.7M | $154.0M | $133.4M | $114.3M | $98.4M | $88.2M | $70.8M |
| Net Cash from Operating Activities | $593.2M | $738.2M | $785.8M | $568.7M | $1.17B | $662.2M | $747.3M | $554.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $102.4M | $115.6M | $177.7M | $291.9M | $401.1M | $154.9M | $149.7M | $223.3M |
| Business Acquisitions | $0 | $77.1M | $0 | $12.3M | $8.0M | $420.8M | $0 | $0 |
| Net Cash from Investing Activities | $-112.4M | $-254.9M | $-195.9M | $-213.3M | $-563.4M | $-231.5M | $-350.4M | $6.9M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $465.9M | $352.9M | $592.4M | $435.0M | $375.0M | $0 | $400.0M | $300.0M |
| Net Cash from Financing Activities | $-464.6M | $-355.7M | $-598.3M | $-501.7M | $-458.3M | $-30.8M | $-485.5M | $-369.4M |
| Net Change in Cash | $51.2M | $106.4M | $-3.8M | $-157.8M | $138.7M | $410.3M | $-86.4M | $187.4M |
| Free Cash Flow | $490.8M | $622.7M | $608.1M | $276.8M | $771.4M | $507.3M | $597.6M | $331.4M |