XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.25.1

Stockholders' Equity (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Stockholders' Equity Note [Abstract] |
Stock-based Compensation Expense | The stock-based compensation related to our stock-based awards and employee stock purchase plan for the three months ended March 31, 2025 and 2024 is as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |
Cost of net revenues |  | $ | 1,538 |  |  | $ | 2,064 |  |  |  |  |
Selling, general and administrative |  | 30,866 |  |  | 28,494 |  |  |  |  |
Research and development |  | 12,593 |  |  | 8,230 |  |  |  |  |
Total stock-based compensation |  | $ | 44,997 |  |  | $ | 38,788 |  |  |  |  |
Summary Of Restricted Stock Units | A summary for the three months ended March 31, 2025 is as follows:
| Number of Shares Underlying RSUs (in thousands) |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024 | 1,019 |  |  | $ | 331.10 |  |  |  |  |
Granted | 650 |  |  | 197.93 |  |  |  |  |
Vested and released | (286) |  |  | 362.30 |  |  |  |  |
Forfeited | (32) |  |  | 318.19 |  |  |  |  |
Unvested as of March 31, 2025 | 1,351 |  |  | $ | 260.72 |  |  | 2.0 |  | $ | 214,594 |
Summary of MSU Performance Activity | The following table summarizes the MSU performance activity for the three months ended March 31, 2025:
| Number of Shares Underlying MSUs (in thousands) |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024 | 193 |  |  | $ | 679.14 |  |  |  |  |
Granted | 127 |  |  | 362.98 |  |  |  |  |
Vested and released 1 | (26) |  |  | 915.22 |  |  |  |  |
Forfeited | (10) |  |  | 915.22 |  |  |  |  |
Unvested as of March 31, 2025 | 284 |  |  | $ | 506.66 |  |  | 2.1 |  | $ | 45,057 |
1 Includes MSUs vested during the period below 100% of the original grant as actual shares released is based on Align’s stock performance relative to a market index over the vesting period.
Summary of PSU Performance Activity | The following table summarizes the PSU performance activity for the three months ended March 31, 2025:
| Number of Shares Underlying PSUs (in thousands) |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Unvested as of December 31, 2024 | 11 |  |  | $ | 204.33 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Vested and released | (5) |  |  | 201.63 |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Unvested as of March 31, 2025 | 6 |  |  | $ | 206.36 |  |  | 1.8 |  | $ | 1,001 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The fair value of the option component of the 2010 Purchase Plan shares was estimated at the grant date using the Black-Scholes option pricing model with the following weighted average assumptions:
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Expected term (in years) |  |  |  |  |  | 1.1 |  | 0.9
Expected volatility |  |  |  |  |  | 40.9 | % |  | 56.0 | %
Risk-free interest rate |  |  |  |  |  | 4.2 | % |  | 4.8 | %
Expected dividends |  |  |  |  |  | — |  |  | — |
Weighted average fair value at grant date |  |  |  |  |  | $ | 70.62 |  |  | $ | 100.10 |

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration