Align Technology (ALGN) 10-Q 2 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-32259
Entity Registrant Name	ALIGN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3267295
Entity Address, Address Line One	410 North Scottsdale Road, Suite 1300
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85281
City Area Code	602
Local Phone Number	742-2000
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ALGN
Security Exchange Name	NASDAQ
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Central Index Key	0001097149
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		78,853,069

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net revenues	$ 1,015,906	$ 734,144	$ 2,921,485	$ 1,637,421
Cost of net revenues	260,750	200,056	730,693	484,649
Gross profit	755,156	534,088	2,190,792	1,152,772
Operating expenses:
Selling, general and administrative	428,409	312,492	1,257,445	852,365
Research and development	65,587	44,527	177,839	126,420
Total operating expenses	493,996	357,019	1,435,284	978,785
Income from operations	261,160	177,069	755,508	173,987
Interest income	401	329	2,427	2,788
Other income (expense), net	427	7,147	34,476	(12,368)
Total interest income and other income (expense), net	828	7,476	36,903	(9,580)
Net income before provision for (benefit from) income taxes	261,988	184,545	792,411	164,407
Provision for (benefit from) income taxes	81,019	45,174	211,352	(1,452,493)
Net income	$ 180,969	$ 139,371	$ 581,059	$ 1,616,900
Net income per share:
Basic (in usd per share)	$ 2.29	$ 1.77	$ 7.36	$ 20.54
Diluted (in usd per share)	$ 2.28	$ 1.76	$ 7.29	$ 20.45
Shares used in computing net income per share:
Basic (in shares)	78,904	78,824	78,971	78,729
Diluted (in shares)	79,516	79,163	79,677	79,078

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 180,969	$ 139,371	$ 581,059	$ 1,616,900
Change in foreign currency translation adjustment, net of tax	(12,037)	15,810	(25,902)	25,793
Change in unrealized gains (losses) on investments, net of tax	20	0	0	(194)
Other comprehensive income (loss)	(12,017)	15,810	(25,902)	25,599
Comprehensive income	$ 168,952	$ 155,181	$ 555,157	$ 1,642,499

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,237,822	$ 960,843
Accounts receivable, net of allowance for doubtful accounts of $9,174 and $10,239, respectively	855,037	657,704
Inventories	207,116	139,237
Prepaid expenses and other current assets	155,332	91,754
Total current assets	2,455,307	1,849,538
Property, plant and equipment, net	1,002,769	734,721
Operating lease right-of-use assets, net	92,727	82,553
Goodwill	426,594	444,817
Intangible assets, net	115,794	130,072
Deferred tax assets	1,502,250	1,552,831
Other assets	54,668	35,151
Total assets	5,650,109	4,829,683
Current liabilities:
Accounts payable	174,916	142,132
Accrued liabilities	545,286	405,582
Deferred revenues	1,070,113	777,887
Total current liabilities	1,790,315	1,325,601
Income tax payable	125,986	105,748
Operating lease liabilities	74,352	64,445
Other long-term liabilities	142,694	100,024
Total liabilities	2,133,347	1,595,818
Commitments and contingencies (Notes 6 and 7)
Stockholders’ equity:
Preferred stock, $0.0001 par value (5,000 shares authorized; none issued)	0	0
Common stock, $0.0001 par value (200,000 shares authorized; 78,852 and 78,860 issued and outstanding, respectively)	8	8
Additional paid-in capital	972,450	974,556
Accumulated other comprehensive income (loss), net	17,599	43,501
Retained earnings	2,526,705	2,215,800
Total stockholders’ equity	3,516,762	3,233,865
Total liabilities and stockholders’ equity	$ 5,650,109	$ 4,829,683

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 9,174	$ 10,239
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	78,852,000	78,860,000
Common stock, shares outstanding	78,852,000	78,860,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss), Net	Retained Earnings
Beginning Balance at Dec. 31, 2019	$ 1,346,169	$ 8	$ 906,937	$ (688)	$ 439,912
Beginning Balance (in shares) at Dec. 31, 2019		78,433
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,616,900				1,616,900
Change in unrealized gains (losses) on investments, net of tax	(194)			(194)
Change in foreign currency translation adjustment, net of tax	25,793			25,793
Issuance of common stock relating to employee equity compensation plans	20,314		20,314
Issuance of common stock relating to employee equity compensation plans (in shares)		416
Tax withholdings related to net share settlements of equity awards	(48,674)		(48,674)
Stock-based compensation	73,163		73,163
Ending Balance at Sep. 30, 2020	3,033,471	$ 8	951,740	24,911	2,056,812
Ending Balance (in shares) at Sep. 30, 2020		78,849
Beginning Balance at Jun. 30, 2020	2,845,045	$ 8	918,495	9,101	1,917,441
Beginning Balance (in shares) at Jun. 30, 2020		78,781
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	139,371				139,371
Change in foreign currency translation adjustment, net of tax	15,810			15,810
Issuance of common stock relating to employee equity compensation plans	9,652		9,652
Issuance of common stock relating to employee equity compensation plans (in shares)		68
Tax withholdings related to net share settlements of equity awards	(1,636)		(1,636)
Stock-based compensation	25,229		25,229
Ending Balance at Sep. 30, 2020	3,033,471	$ 8	951,740	24,911	2,056,812
Ending Balance (in shares) at Sep. 30, 2020		78,849
Beginning Balance at Dec. 31, 2020	3,233,865	$ 8	974,556	43,501	2,215,800
Beginning Balance (in shares) at Dec. 31, 2020		78,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	581,059				581,059
Change in foreign currency translation adjustment, net of tax	(25,902)			(25,902)
Issuance of common stock relating to employee equity compensation plans	25,623		25,623
Issuance of common stock relating to employee equity compensation plans (in shares)		434
Tax withholdings related to net share settlements of equity awards	(107,343)		(107,343)
Common stock repurchased and retired	(275,038)		(4,884)		(270,154)
Common stock repurchased and retired (in shares)		(442)
Stock-based compensation	84,498		84,498
Ending Balance at Sep. 30, 2021	3,516,762	$ 8	972,450	17,599	2,526,705
Ending Balance (in shares) at Sep. 30, 2021		78,852
Beginning Balance at Jun. 30, 2021	3,384,410	$ 8	895,831	29,616	2,458,955
Beginning Balance (in shares) at Jun. 30, 2021		78,948
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	180,969				180,969
Change in unrealized gains (losses) on investments, net of tax	20			20
Change in foreign currency translation adjustment, net of tax	(12,037)			(12,037)
Issuance of common stock relating to employee equity compensation plans	12,490		12,490
Issuance of common stock relating to employee equity compensation plans (in shares)		69
Tax withholdings related to net share settlements of equity awards	(2,454)		(2,454)
Common stock repurchased and retired	(115,038)		(1,819)		(113,219)
Common stock repurchased and retired (in shares)		(165)
Equity forward contract related to accelerated stock repurchase	40,000		40,000
Stock-based compensation	28,402		28,402
Ending Balance at Sep. 30, 2021	$ 3,516,762	$ 8	$ 972,450	$ 17,599	$ 2,526,705
Ending Balance (in shares) at Sep. 30, 2021		78,852

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 581,059	$ 1,616,900
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes	48,104	(1,502,459)
Depreciation and amortization	79,141	68,769
Stock-based compensation	84,498	73,163
Non-cash operating lease cost	19,364	16,819
Allowance for doubtful accounts provisions	1,559	13,090
Arbitration award gain	(43,403)	0
Other non-cash operating activities	14,092	14,189
Changes in assets and liabilities, net of effects of acquisition:
Accounts receivable	(216,081)	(101,888)
Inventories	(83,249)	(11,774)
Prepaid expenses and other assets	(74,736)	(28,251)
Accounts payable	13,495	21,837
Accrued and other long-term liabilities	107,159	(28,343)
Long-term income tax payable	20,263	119
Deferred revenues	348,430	128,585
Net cash provided by operating activities	899,695	280,756
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition, net of cash acquired	(8,002)	(420,788)
Purchase of property, plant and equipment	(292,002)	(101,757)
Purchase of marketable securities	0	(5,341)
Proceeds from maturities of marketable securities	0	42,641
Proceeds from sales of marketable securities	0	278,817
Repayment on unsecured promissory note	4,594	17,828
Proceeds from arbitration award	43,403	0
Other investing activities	(3,712)	1,760
Net cash used in investing activities	(255,719)	(186,840)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	25,623	20,314
Common stock repurchases	(275,038)	0
Payroll taxes paid upon the vesting of equity awards	(107,344)	(48,674)
Net cash used in financing activities	(356,759)	(28,360)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(10,241)	(568)
Net increase in cash, cash equivalents, and restricted cash	276,976	64,988
Cash, cash equivalents, and restricted cash at beginning of the period	961,474	551,134
Cash, cash equivalents, and restricted cash at end of the period	$ 1,238,450	$ 616,122

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Align Technology, Inc. (“we”, “our”, or “Align”) in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and contains all adjustments, including normal recurring adjustments, necessary to state fairly our results of operations for the three and nine months ended September 30, 2021 and 2020, our comprehensive income for the three and nine months ended September 30, 2021 and 2020, our financial position as of September 30, 2021, our stockholders’ equity for the three and nine months ended September 30, 2021 and 2020, and our cash flows for the nine months ended September 30, 2021 and 2020. The Condensed Consolidated Balance Sheet as of December 31, 2020 was derived from the December 31, 2020 audited financial statements. It does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or any other future period, and we make no representations related thereto. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and notes thereto included in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2020. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the U.S. requires our management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, useful lives of intangible assets and property and equipment, long-lived assets and goodwill, income taxes and contingent liabilities, the fair values of financial instruments and stock-based compensation among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Certain Risks and Uncertainties Due to the COVID-19 pandemic, we are subject to a greater degree of uncertainty than normal in making the judgments and estimates needed to apply our significant accounting policies. The full extent to which the pandemic, including as a result of any new strains, business restrictions or lockdowns, and the impact of vaccinations, will directly or indirectly impact our business, results of operations, cash flows, and financial condition will depend on future developments that are highly uncertain and cannot be accurately determined. Further, we could also be materially adversely affected by supply chain disruptions, including shortages and inflationary pressures, uncertain or reduced demand, labor shortages, delays in collection of outstanding receivables and the impact of any initiatives or programs that we may undertake to address financial and operational challenges faced by our customers. Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted In December 2019, the Financial Accounting Standards Board ( “ FASB ” ) issued Accounting Standard Update ( “ ASU ” ) 2019-12, “ Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes, ” to enhance and simplify various aspects of the income tax accounting guidance. The amendment removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The amendments are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Adoption of this standard in the first quarter of fiscal year 2021 did not have a material impact on our consolidated financial statements or related disclosures. (ii) Recent Accounting Updates Not Yet Effective

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is an exit price, representing the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the GAAP fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value: Level 1 — Quoted (unadjusted) prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. We obtain fair values for our Level 2 investments. Our custody bank and asset managers independently use professional pricing services to gather pricing data which may include quoted market prices for identical or comparable financial instruments, or inputs other than quoted prices that are observable either directly or indirectly, and we are ultimately responsible for these underlying estimates. Level 3 — Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation. The following tables summarize our financial assets measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in thousands): Description Balance as of Level 1 Level 2 Cash equivalents: Money market funds $ 582,227 $ 582,227 $ — Prepaid expenses and other current assets: Israeli funds 4,170 — 4,170 $ 586,397 $ 582,227 $ 4,170 Description Balance as of December 31, 2020 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 519,228 $ 519,228 $ — $ — Prepaid expenses and other current assets: Israeli funds 3,500 — 3,500 — Current unsecured promissory note 1 5,408 — — 5,408 $ 528,136 $ 519,228 $ 3,500 $ 5,408 1 The unsecured promissory note was paid in full by SmileDirectClub, LLC (“SDC”) during the nine months ended September 30, 2021. Besides the repayment on the note, on March 12, 2021, the Arbitrator ruled in favor of us on the SDC dispute and issued an award of $43.4 million along with interest. The gain of $43.4 million is recognized as a part of our other income (expense), net in our Condensed Consolidated Statement of Operation during the nine months ended September 30, 2021. Refer to Note 6 “Legal Proceedings” of the Notes to Condensed Consolidated Financial Statements included for more information on the arbitration. Investments in Privately Held Companies Investments in equity securities of privately held companies without readily determinable fair values was $8.6 million as of September 30, 2021 and not material as of December 31, 2020 and are reported as nonrecurring investments within other assets in our Condensed Consolidated Balance Sheet. Our investments in equity securities are considered Level 3 in the fair value hierarchy since the investments are in private companies without quoted market prices and we adjust the carrying value based on observable price changes. The adjustments to the carrying value of these investments was not material during the nine months ended September 30, 2021 and 2020. Derivatives Not Designated as Hedging Instruments Recurring foreign currency forward contracts We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on certain trade and intercompany receivables and payables. These forward contracts are classified within Level 2 of the fair value hierarchy. As a result of the settlement of foreign currency forward contracts, during the three months ended September 30, 2021 and 2020, we recognized net gains of $14.7 million and net losses of $12.1 million, respectively, and during the nine months ended September 30, 2021 and 2020, we recognized net gains of $14.1 million and $0.6 million, respectively. As of September 30, 2021 and December 31, 2020, the fair value of foreign exchange forward contracts outstanding was not material. The following table presents the gross notional value of all our foreign exchange forward contracts outstanding as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Local Currency Amount Notional Contract Amount (USD) Euro €192,600 $ 222,456 Chinese Yuan ¥1,021,000 157,701 Canadian Dollar C$100,000 78,563 Japanese Yen ¥6,097,800 54,496 British Pound £40,250 54,296 Brazilian Real R$285,000 52,073 Polish Zloty PLN142,000 35,710 Mexican Peso M$310,000 15,065 Israel Shekel ILS38,400 11,914 Swiss Franc CHF10,600 11,356 Australian Dollar A$5,900 4,252 $ 697,882 December 31, 2020 Local Currency Amount Notional Contract Amount (USD) Euro €126,300 $ 155,125 Chinese Yuan ¥936,000 143,393 Canadian Dollar C$65,000 50,791 British Pound £32,300 43,879 Japanese Yen ¥4,249,000 41,222 Brazilian Real R$142,000 27,264 Israeli Shekel ILS74,000 23,094 Mexican Peso M$140,000 7,002 Australian Dollar A$5,800 4,447 Swiss Franc CHF3,700 4,191 $ 500,408

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Inventories consist of the following (in thousands): September 30, December 31, Raw materials $ 104,017 $ 76,404 Work in process 51,527 31,393 Finished goods 51,572 31,440 Total inventories $ 207,116 $ 139,237 Accrued liabilities consist of the following (in thousands): September 30, December 31, Accrued payroll and benefits $ 229,743 $ 170,106 Accrued expenses 62,828 42,536 Accrued sales and marketing expenses 55,310 34,488 Accrued property, plant and equipment 41,389 27,692 Accrued income taxes 35,152 30,130 Accrued professional fees 29,488 20,617 Current operating lease liabilities 22,170 21,735 Other accrued liabilities 69,206 58,278 Total accrued liabilities $ 545,286 $ 405,582 Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands): Nine Months Ended 2021 2020 Balance at beginning of period $ 12,615 $ 11,205 Charged to cost of net revenues 13,400 8,047 Actual warranty expenditures (11,040) (8,229) Balance at end of period $ 14,975 $ 11,023 Deferred revenues consist of the following (in thousands): September 30, December 31, Deferred revenues - current $ 1,070,113 $ 777,887 Deferred revenues - long-term 1 $ 108,387 $ 62,551 1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheet During the three months ended September 30, 2021 and 2020, we recognized $1.0 billion and $734.1 million of net revenues, respectively, of which $112.6 million and $99.6 million was included in the deferred revenues balance at December 31, 2020 and 2019, respectively. one

Goodwill and Long-lived Assets

Goodwill and Long-lived Assets	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets During the three months ended September 30, 2021, we completed an immaterial business combination which increased goodwill and existing technology intangible assets. Goodwill The change in the carrying value of goodwill for the nine months ended September 30, 2021, categorized by reportable segments, is as follows (in thousands): Clear Aligner Systems and Services Total Balance as of December 31, 2020 $ 112,691 $ 332,126 $ 444,817 Additions from acquisition 3,646 — 3,646 Foreign currency translation adjustments (3,062) (18,807) (21,869) Balance as of September 30, 2021 $ 113,275 $ 313,319 $ 426,594 Intangible Long-Lived Assets Acquired intangible long-lived assets were as follows, excluding intangibles that were fully amortized (in thousands): Weighted Average Amortization Period Gross Carrying Amount as of Accumulated Amortization Accumulated Impairment Loss Net Carrying Existing technology 10 $ 104,531 $ (19,923) $ (4,328) $ 80,280 Customer relationships 11 55,000 (24,888) (10,751) 19,361 Trademarks and tradenames 10 16,600 (4,087) (4,179) 8,334 Patents and other 8 6,511 (4,296) — 2,215 $ 182,642 $ (53,194) $ (19,258) 110,190 Foreign currency translation 5,604 Total intangible assets $ 115,794 Weighted Average Amortization Period Gross Carrying Accumulated Amortization Accumulated Impairment Loss Net Carrying Existing technology 10 $ 99,400 $ (12,719) $ (4,328) $ 82,353 Customer relationships 11 55,000 (21,879) (10,751) 22,370 Trademarks and tradenames 10 16,600 (2,934) (4,179) 9,487 Patents and other 8 6,610 (3,785) — 2,825 177,610 (41,317) (19,258) 117,035 Foreign currency translation 13,037 Total intangible assets $ 130,072 The total estimated annual future amortization expense for these acquired intangible assets as of September 30, 2021 is as follows (in thousands): Fiscal Year Ending December 31, Amortization Remainder of 2021 $ 4,158 2022 15,392 2023 14,772 2024 13,831 2025 13,455 Thereafter 48,582 Total $ 110,190 Amortization expense for the three months ended September 30, 2021 and 2020 was $4.4 million and $4.1 million, respectively, and amortization expense for the nine months ended September 30, 2021 and 2020 was $12.2 million and $9.5 million, respectively.

Credit Facility

Credit Facility	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Credit Facility	Credit FacilityOn July 21, 2020 we entered into a credit facility for a $300.0 million unsecured revolving line of credit, with a $50.0 million letter of credit sublimit, and a maturity date of July 21, 2023 (“2020 Credit Facility”), replacing our previous credit facility which provided for a $200.0 million revolving line of credit with a $50.0 million letter of credit. The 2020 Credit Facility requires us to comply with specific financial conditions and performance requirements. Loans under the 2020 Credit Facility bear interest, at our option, at either a rate based on the reserve adjusted LIBOR for the applicable interest period or a base rate, in each case plus a margin. The base rate is the highest of the credit facility's publicly announced prime rate, the federal funds rate plus 0.50% and one-month LIBOR plus 1.0%. The margin ranges from 1.50% to 2.25% for LIBOR loans and 0.50% to 1.25% for base rate loans. The 2020 Credit Facility allows for an alternative rate to be identified if LIBOR is no longer available. Interest on the loans is payable quarterly in arrears with respect to base rate loans and at the end of an interest period (and at three month intervals if the interest period exceeds three months) in the case of LIBOR loans. The outstanding principal, together with accrued and unpaid interest, is due on the maturity date. As of September 30, 2021, we had no outstanding borrowings under the 2020 Credit Facility and were in compliance with the conditions and performance requirements.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2021
Legal Proceedings [Abstract]
Legal Proceedings	Legal Proceedings 2018 Securities Class Action Lawsuit On November 5, 2018, a class action lawsuit against Align and three of our executive officers was filed in the U.S. District Court for the Northern District of California on behalf of a purported class of purchasers of our common stock. The complaint generally alleged claims under the federal securities laws and sought monetary damages in an unspecified amount and costs and expenses incurred in the litigation. On December 12, 2018, a similar lawsuit was filed in the same court on behalf of a purported class of purchasers of our common stock. On November 29, 2019, the lead plaintiff filed an amended consolidated complaint against Align and two of our executive officers alleging similar claims as the initial complaints on behalf of a purported class of purchasers of our common stock from May 23, 2018 and October 24, 2018. On September 9, 2020, Defendants’ motion to dismiss the amended consolidated complaint was granted in part and denied in part. On June 30, 2021, counsel for the parties signed a Stipulation and Agreement of Settlement to resolve all claims for $16 million. The settlement amount will be funded by insurance proceeds and consequently, we recorded a short term liability and a receivable for this amount in our condensed consolidated financial statements. Lead Plaintiff filed a motion seeking preliminary approval of the settlement on July 15, 2021. A hearing on that motion was held on October 21, 2021. At the hearing, the Court directed Lead Plaintiff to file an amended motion seeking preliminary approval of the settlement by November 1, 2021 and the Court indicated it will thereafter grant preliminary approval of the settlement. The settlement is subject to notice to class members and final approval by the Court. 2019 Shareholder Derivative Lawsuit In January 2019, three derivative lawsuits were filed in the U.S. District Court for the Northern District of California which were later consolidated, purportedly on behalf of Align, naming as defendants the then current members of our Board of Directors along with certain of our executive officers. The allegations in the complaints are similar to those asserted in the 2018 Securities Class Action Lawsuit, but the complaints assert various state law causes of action, including for breaches of fiduciary duty, insider trading, and unjust enrichment. The complaints seek unspecified monetary damages on behalf of Align, which is named solely as a nominal defendant against whom no recovery is sought, as well as disgorgement and the costs and expenses associated with the litigation, including attorneys’ fees. The consolidated action has been stayed pending final disposition of the 2018 Securities Class Action Lawsuit. On April 12, 2019, a derivative lawsuit was also filed in California Superior Court for Santa Clara County, purportedly on behalf of Align, naming as defendants the members of our Board of Directors along with certain of our executive officers. The allegations in the complaint are similar to those in the derivative suits described above. The matter has been similarly stayed pending final disposition of the 2018 Securities Class Action Lawsuit. Align is currently unable to predict the outcome of these lawsuits and therefore cannot determine the likelihood of loss nor estimate a range of possible loss . 2020 Securities Class Action Lawsuit On March 2, 2020, a class action lawsuit against Align and two of our executive officers was filed in the U.S. District Court for the Southern District of New York (later transferred to the U.S. District Court for the Northern District of California) on behalf of a purported class of purchasers of our common stock. The complaint alleged claims under the federal securities laws and sought monetary damages in an unspecified amount and costs and expenses incurred in the litigation. The lead plaintiff filed an amended complaint on August 4, 2020 against Align and three of our executive officers alleging similar claims as in the initial complaint on behalf of a purported class of purchasers of our common stock from April 25, 2019 to July 24, 2019. On March 29, 2021, defendants’ motion to dismiss the amended complaint was granted with leave for the lead plaintiff to file a further amended complaint. On April 22, 2021, lead plaintiff filed a notice stating it would not file a further amended complaint. On April 23, 2021, the Court dismissed the action with prejudice and judgment was entered. Lead plaintiff filed a notice of appeal on April 28, 2021 and filed its opening appeal brief with the United States Court of Appeals for the Ninth Circuit on September 1, 2021. Respondents ’ brief in opposition is due November 22, 2021. Align believes these claims are without merit and intends to vigorously defend itself. Align is currently unable to predict the outcome of this lawsuit and therefore cannot determine the likelihood of loss nor estimate a range of possible loss. 2020 Shareholder Derivative Lawsuit On May 4, 2020, a derivative lawsuit was filed in the U.S. District Court for the Northern District of California, purportedly on behalf of Align, naming as defendants the members of our Board of Directors along with certain of our executive officers. The allegations in the complaint are similar to those presented in the 2020 Securities Class Action Lawsuit, but this complaint asserts state law claims for breach of fiduciary duty and insider trading. The complaint seeks unspecified monetary damages on behalf of Align, which is named solely as a no minal defendant against whom no recovery is sought, as well as disgorgement and the costs and expenses associated with the litigation, including attorneys’ fees. This action is stayed pending resolution of the appeal in the 2020 Securities Class Action Lawsuit. Align is currently unable to predict the outcome of this lawsuit and therefore cannot determine the likelihood of loss nor estimate a range of possible loss. 3Shape Litigation On November 14, 2017, Align filed several patent infringement lawsuits asserting patents against 3Shape, a Danish corporation, and a related U.S. corporate entity, asserting that 3Shape’s Trios intraoral scanning system and Dental System software infringe Align patents. These lawsuits were filed in the U.S. District Court for the District of Delaware alleging patent infringement by 3Shape’s Trios intraoral scanning system and Dental System software. Three of the cases are active and 3Shape filed counterclaims for breach of contract and business torts. Align’s motion to dismiss these 3Shape counterclaims was granted. In 2018, 3Shape filed two separate complaints in the U.S. District Court for the District of Delaware alleging patent infringement by Align’s iTero Element scanner of 3Shape patents. On August 19, 2019, the Court consolidated the two actions, and on August 30, 2019, 3Shape filed an amended complaint. On December 11, 2018, Align filed an additional complaint in the U.S. District Court for the District of Delaware alleging patent infringement by 3Shape’s Trios intraoral scanning system, Lab Scanners and Dental and Ortho System Software. 3Shape filed business tort counterclaims. The Court granted Align’s motion to dismiss 3Shape’s business tort counterclaims. The case is currently stayed. On October 19, 2020, Align filed a complaint in the U.S. District Court for the Western District of Texas alleging patent infringement by 3Shape ’s intraoral scanners and associated software products. In response, 3Shape filed b usiness tort and patent infringement counterclaims. Align moved to dismiss the business tort counterclaims . The Court granted Align ’s motion to dismiss all of the business tort counterclaims except for a counterclaim of fraudulent inducement. Align filed a separate motion to dismiss on that counterclaim which is pending. 3Shape and Align’s District Court patent infringement complaints and 3Shape’s counterclaims seek monetary damages and/or injunctive relief. One of Align’s Delaware District Court cases against 3Shape is scheduled for a jury trial beginning on May 31, 2022. The case pending in the Western District of Texas has been given a jury trial date of October 3, 2022. No trial dates have been set in the remaining cases. On August 28, 2018, 3Shape filed a complaint against Align in the U.S. District Court for the District of Delaware alleging antitrust violations and seeking monetary damages and injunctive relief relating to Align’s alleged market activities, including Align’s assertion of its patent portfolio, in alleged clear aligner and intraoral scanner markets. No trial date has been set. Align is currently unable to predict the outcome of these lawsuits and therefore cannot determine the likelihood of loss, if any, nor estimate a range of possible loss. Antitrust Class Actions On June 5, 2020, a dental practice named Simon and Simon, PC doing business as City Smiles brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of itself and a putative class of similarly situated practices seeking monetary damages and injunctive relief relating to Align’s alleged market activities in alleged clear aligner and intraoral scanner markets. Plaintiff filed an amended complaint and added VIP Dental Spas as a plaintiff on August 14, 2020. A jury trial is scheduled to begin in this matter on November 20, 2023. A lign believes the plaintiffs’ claims are without merit and intends to vigorously defend itself. On May 3, 2021, an individual named Misty Snow brought an antitrust action in the U.S. District Court for the Northern District of California on behalf of herself and a putative class of similarly situated individuals seeking monetary damages and injunctive relief relating to Align’s alleged market activities in alleged clear aligner and intraoral scanner markets. Plaintiff filed an amended complaint on July 30, 2021 adding new plaintiffs and various state law claims. Align moved to dismiss the first amended complaint. On September 30, 2021, the Court dismissed the complaint and granted Plaintiffs leave to amend. Plaintiffs filed a second amended complaint on October 21, 2021 . Align has not yet responded to the second amended complaint. Align believes the plaintiffs’ claims are without merit and intends to vigorously defend itself. Align is currently unable to predi ct the outcome of these lawsuits and therefore cannot determine the likelihood of loss, if any, nor estimate a range of possible loss. SDC Dispute In April 2018, SDC Financial LLC, SmileDirectClub LLC, and the Members of SDC Financial LLC other than the Company (collectively, the “SDC Entities”) initiated confidential arbitration proceedings against Align. In an award dated March 4, 2019, (“Award”) an arbitrator found that Align breached a restrictive covenant and that Align misused the SDC Entities’ confidential information and violated fiduciary duties to SDC Financial LLC. As part of the Award, Align was enjoined from opening new Invisalign stores or providing certain services in physical retail establishments in connection with the marketing and sale of clear aligners in the U.S., and enjoined from using the SDC Entities’ confidential information. The arbitrator extended the expiration date of specified aspects of the restrictive covenant to August 18, 2022. The arbitrator also ordered Align to tender its SDC Financial LLC membership interests to the SDC Entities for a purchase price equal to the “capital account” balance as of October 31, 2017, to be determined in accordance with the applicable provisions of the SDC Operating Agreements. No financial damages were awarded to the SDC Entities. The Circuit Court for Cook County, Illinois confirmed the Award on April 29, 2019. As required by the Award, Align tendered its membership interests for a purchase price that SDC claimed to be Align’s “capital account” balance. Align disputed that the SDC Entities properly determined the value of Align’s “capital account” balance as of October 31, 2017. Consequently, on July 3, 2019, Align filed a confidential demand for arbitration challenging the propriety of the SDC Entities’ determination. On March 12, 2021 the Arbitrator issued a final award in favor of Align and against SDC finding that the SDC entities owed Align an additional $43.4 million plus interest. SDC paid the amount due to Align on March 17, 2021. On August 27, 2020, Align initiated a confidential arbitration proceeding against the SDC entities before the American Arbitration Association in San Jose, California. This arbitration relates to the Strategic Supply Agreement (“Supply Agreement”) entered into between the parties in 2016. The complaint alleges that the SDC Entities breached the Supply Agreement ’ s terms, causing damages to Align in an amount to be determined. On January 19, 2021, SDC filed a counterclaim alleging that Align breached the Supply Agreement. Align denies the SDC Entities’ allegations in the counterclaim and will vigorously defend itself against them. This arbitration is set for hearing in the first quarter of 2022. Align is currently unable to predict the outcome of these disputes and therefore cannot determine the likelihood of loss or success nor estimate a range of possible loss or success, if any. In addition to the above, in the ordinary course of Align’s operations, Align is involved in a variety of claims, suits, investigations, and proceedings, including actions with respect to intellectual property claims, patent infringement claims, government investigations, labor and employment claims, breach of contract claims, tax, and other matters. Regardless of the outcome, these proceedings can have an adverse impact on us because of defense costs, diversion of management resources, and other factors. Although the results of complex legal proceedings are difficult to predict and Align’s view of these matters may change in the future as litigation and events related thereto unfold; Align currently does not believe that these matters, individually or in the aggregate, will materially affect Align’s financial position, results of operations or cash flows.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Other Commitments In 2018, we entered into a purchase agreement, as amended, with an existing single source supplier which requires us to purchase aligner material for a minimum amount of approximately $425.9 million over a five year period through 2022. On June 24, 2021, we amended the agreement which requires an additional minimum aligner material purchase of approximately $348.0 million from 2023 through 2026. Off-Balance Sheet Arrangements As of September 30, 2021, we had no material off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources other than certain items disclosed in Note 11 “Com mitments and Contingencies” of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K. Indemnification Provisions In the normal course of business to facilitate transactions in our services and products, we indemnify certain parties: customers, vendors, lessors, and other parties with respect to certain matters, including, but not limited to, services to be provided by us and intellectual property infringement claims made by third parties. In addition, we have entered into indemnification agreements with our directors and our executive officers that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. Several of these agreements limit the time within which an indemnification claim can be made and the amount of the claim. It is not possible to make a reasonable estimate of the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Additionally, we have a limited history of prior indemnification claims and the payments we have made under such agreements have not had a material adverse effect on our results of operations, cash flows or financial position. However, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our results of operations or cash flows in a particular period. As of September 30, 2021, we did not have any material indemnification claims that were probable or reasonably possible.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity As of September 30, 2021, the 2005 Incentive Plan (as amended) has a total reserve of 27,783,379 shares of which 4,236,601 shares are available for issuance. Summary of Stock-Based Compensation Expense Stock-based compensation is based on the estimated fair value of awards, net of estimated forfeitures, and recognized over the requisite service period. Estimated forfeitures are based on historical experience at the time of grant and may be revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The stock-based compensation related to our stock-based awards and employee stock purchase plans for the three and nine months ended September 30, 2021 and 2020 is as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cost of net revenues $ 1,451 $ 1,247 $ 4,175 $ 3,485 Selling, general and administrative 22,229 19,951 67,131 58,284 Research and development 4,722 4,031 13,192 11,394 Total stock-based compensation $ 28,402 $ 25,229 $ 84,498 $ 73,163 Restricted Stock Units (“RSUs”) The fair value of RSUs is based on our closing stock price on the date of grant. RSUs granted generally vest over a period of four years. A summary for the nine months ended September 30, 2021 is as follows: Number of Shares Underlying RSUs (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Aggregate Unvested as of December 31, 2020 632 $ 243.55 Granted 162 599.47 Vested and released (254) 215.09 Forfeited (33) 343.14 Unvested as of September 30, 2021 507 $ 365.16 1.4 $ 337,271 As of September 30, 2021, we expect to recognize $132.3 million of total unamortized compensation cost, net of estimated forfeitures, related to RSUs over a weighted average period of 2.3 years. Market-performance Based Restricted Stock Units (“MSUs”) We grant MSUs to our executive officers. Each MSU represents the right to one share of Align’s common stock. The actual number of MSUs which will be eligible to vest will be based on the performance of Align’s stock price relative to the performance of a stock market index over the vesting period. MSUs vest over a period of three years and the maximum number eligible to vest in the future is 250% of the MSUs initially granted. A summary for the nine months ended September 30, 2021 is as follows: Number of Shares Underlying MSUs (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (in years) Aggregate Unvested as of December 31, 2020 227 $ 430.50 Granted 177 658.02 Vested and released (230) 513.73 Unvested as of September 30, 2021 174 $ 551.57 1.2 $ 115,851 As of September 30, 2021, we expect to recognize $45.4 million of total unamortized compensation cost, net of estimated forfeitures, related to MSUs over a weighted average period of 1.2 years. Employee Stock Purchase Plan (“ESPP”) In May 2010, our stockholders approved the 2010 Employee Stock Purchase Plan (the “2010 Purchase Plan”) which will continue until terminated by either the Board of Directors or its administrator. In May 2021, the 2010 Purchase Plan was amended and restated to increase the maximum number of shares available for purchase to 4,400,000 shares. As of September 30, 2021, we have 2,194,566 shares available for future issuance. 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 Nine Months Ended 2021 2020 2021 2020 Expected term (in years) 1.2 1.0 1.1 1.0 Expected volatility 51.1 % 71.7 % 52.7 % 55.0 % Risk-free interest rate 0.1 % 0.1 % 0.1 % 0.9 % Expected dividends — — — — Weighted average fair value at grant date $ 257.89 $ 117.32 $ 246.84 $ 96.94 As of September 30, 2021, there was $15.0 million of total unamortized compensation costs related to employee stock purchases which we expect to be recognized over a weighted average period of 0.7 year.

Common Stock Repurchase Program

Common Stock Repurchase Programs	9 Months Ended
	Sep. 30, 2021
Disclosure Common Stock Repurchase Program Additional Information [Abstract]
Common Stock Repurchase Programs	Common Stock Repurchase Programs In May 2018, our Board of Directors authorized a plan to repurchase up to $600.0 million of our common stock (“May 2018 Repurchase Program”). As of September 30, 2021, the authorization under the May 2018 Repurchase Program was completed. In May 2021, our Board of Directors authorized a plan to repurchase up to $1.0 billion of our common stock (“May 2021 Repurchase Program”). As of September 30, 2021, we have $825.0 million available for repurchase under the May 2021 Repurchase Program. Accelerated Stock Repurchase Agreements ( “ ASRs ” ) During 2021, we entered into the following ASRs providing for the repurchase of our common stock based on the volume-weighted average price during the term of the agreement, less an agreed upon discount. The table below sets forth information regarding our repurchases following table summarizes the information regarding repurchases of our common stock during the nine months ended September 30, 2021: Agreement Repurchase Amount Paid Completion Total Shares Average Price per Share April 30, 2021 May 2018 $ 100.0 July 30, 2021 171,322 $ 583.70 May 17, 2021 May 2021 $ 100.0 August 31, 2021 161,707 $ 618.40 August 2, 2021 May 2021 $ 75.0 September 27, 2021 109,239 $ 686.91 As of September 30, 2021, all the ASRs have been completed and the repurchased shares retired. Subsequent to the third quarter, on October 29, 2021, we entered into an ASR to repurchase $100.0 million of our common stock. We paid $100.0 million and received an initial delivery of approximately 0.1 million shares based on current market prices. The final number of shares to be repurchased will be based on our volume-weighted average stock price under the terms of the ASR, less an agreed upon discount.

Accounting for Income Taxes

Accounting for Income Taxes	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Accounting for Income Taxes	Accounting for Income Taxes Our provision for income taxes was $81.0 million and $45.2 million for the three months ended September 30, 2021 and 2020, respectively representing effective tax rates of 30.9% and 24.5%, respectively. Our provision for income taxes was $211.4 million for the nine months ended September 30, 2021 and our benefit from income taxes was $1,452.5 million for the nine months ended September 30, 2020, representing effective tax rates of 26.7% and (883.5)%, respectively. Our effective tax rate differs from the statutory federal income tax rate of 21% for the three and nine months ended September 30, 2021 primarily due to foreign income taxed at different rates, state income taxes, and non-deductible expenses in the U.S., partially offset by the recognition of excess tax benefits related to stock-based compensation. Our effective tax rate differs from the statutory federal income tax rate of 21% for the three months ended September 30, 2020 primarily due to state income taxes and non-deductible expenses in the U.S., partially offset by a tax benefit resulting from settlement of an income tax audit. Our effective tax rate differs from the statutory federal income tax rate of 21% for the nine months ended September 30, 2020 mainly as a result of the recognition of tax benefits associated with the intra-entity transfer of certain intellectual property rights and fixed assets completed last year. During the nine months ended September 30, 2020 , we completed an intra-entity transfer of certain intellectual property rights and fixed assets to our Swiss entity. The transfer of intellectual property rights did not result in a taxable gain; however, it did result in a step-up of the Swiss tax deductible basis in the transferred assets, and accordingly, created a temporary difference between the book basis and the tax basis of such intellectual property rights. Consequently, this transaction resulted in the recognition of a deferred tax asset and related one-time tax benefit of approximately $1,493.5 million during the nine months ended September 30, 2020 , which is the net impact of the deferred tax asset recognized as a result of the additional Swiss tax deductible basis in the transferred assets and certain costs related to the transfer of fixed assets and inventory. We exercise significant judgment in regards to estimates of future market growth, forecasted earnings and projected taxable income in determining the provision for income taxes and for purposes of assessing our ability to utilize any future benefit from deferred tax assets. We continue to assess the realizability of the deferred tax assets as we take into account new information. We file U.S. federal, U.S. state, and non-U.S. income tax returns. Our major tax jurisdictions include U.S. federal, the State of California and Switzerland. We are no longer subject to U.S. federal tax examination for years before 2017 and U.S. state tax examination for years before 2016. Our subsidiary in Israel is under audit by the local tax authorities for years 2015 through 2018. With few exceptions, we are no longer subject to examination by foreign tax authorities for years before 2014. Our total gross unrecognized tax benefits, excluding interest and penalties, were $64.6 million and $46.3 million as of September 30, 2021 and December 31, 2020, respectively, a material amount of which would impact our effective tax rate if recognized. Total interest and penalties accrued as of September 30, 2021 was not material. We have elected to recognize interest and penalties related to unrecognized tax benefits as a component of income taxes. The timing and resolution of income tax examinations is uncertain, and the amounts ultimately paid, if any, upon resolution of issues raised by the taxing authorities may differ materially from the amounts accrued for each year. Although it is possible that our balance of gross unrecognized tax benefits could materially change in the next 12 months, given uncertainty in the development of ongoing income tax examinations, we are unable to estimate the full range of possible adjustments to this balance. Our total deferred tax liabilities were $32.3 million and $35.7 million as of September 30, 2021 and December 31, 2020, respectively, which were primarily related to the intangible assets from our exocad acquisition.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income per Share The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net income $ 180,969 $ 139,371 $ 581,059 $ 1,616,900 Denominator: Weighted average common shares outstanding, basic 78,904 78,824 78,971 78,729 Dilutive effect of potential common stock 612 339 706 349 Total shares, diluted 79,516 79,163 79,677 79,078 Net income per share, basic $ 2.29 $ 1.77 $ 7.36 $ 20.54 Net income per share, diluted $ 2.28 $ 1.76 $ 7.29 $ 20.45 Anti-dilutive potential common shares 1 83 65 67 66 1 Represents RSUs and MSUs not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The supplemental cash flow information consists of the following (in thousands): Nine Months Ended 2021 2020 Non-cash investing and financing activities: Acquisition of property, plant and equipment in accounts payable and accrued liabilities $ 72,531 $ 43,147 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 21,626 $ 19,384 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 31,635 $ 44,915

Segments and Geographical Infor

Segments and Geographical Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segments and Geographical Information	Segments and Geographical Information Segment Information We report segment information based on the management approach. The management approach designates the internal reporting used by our Chief Operating Decision Maker for decision making and performance assessment as the basis for determining our reportable segments. The performance measures of our reportable segments include net revenues, gross profit and income from operations. Income from operations for each segment includes all geographic revenues, related cost of net revenues and operating expenses directly attributable to the segment. Certain operating expenses are attributable to operating segments and each allocation is measured differently based on the specific facts and circumstances of the costs being allocated. Costs not specifically allocated to segment income from operations include various corporate expenses such as stock-based compensation and costs related to IT, facilities, human resources, accounting and finance, legal and regulatory, and other separately managed general and administrative costs outside the operating segments. We group our operations into two reportable segments: Clear Aligner segment and Imaging Systems and CAD/CAM services (“Systems and Services”) segment. Summarized financial information by segment is as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenues Clear Aligner $ 837,593 $ 620,764 $ 2,431,821 $ 1,400,716 Systems and Services 178,313 113,380 489,664 236,705 Total net revenues $ 1,015,906 $ 734,144 $ 2,921,485 $ 1,637,421 Gross profit Clear Aligner $ 638,169 $ 463,747 $ 1,869,368 $ 1,007,605 Systems and Services 116,987 70,341 321,424 145,167 Total gross profit $ 755,156 $ 534,088 $ 2,190,792 $ 1,152,772 Income from operations Clear Aligner $ 346,957 $ 261,774 $ 1,022,048 $ 467,078 Systems and Services 65,791 34,912 177,694 52,194 Unallocated corporate expenses (151,588) (119,617) (444,234) (345,285) Total income from operations $ 261,160 $ 177,069 $ 755,508 $ 173,987 Stock-based compensation Clear Aligner $ 2,824 $ 2,003 $ 7,750 $ 6,628 Systems and Services 169 322 514 553 Unallocated corporate expenses 25,409 22,904 76,234 65,982 Total stock-based compensation $ 28,402 $ 25,229 $ 84,498 $ 73,163 Depreciation and amortization Clear Aligner $ 13,191 $ 10,413 $ 36,481 $ 30,231 Systems and Services 5,827 5,092 14,994 11,882 Unallocated corporate expenses 8,596 8,981 27,666 26,656 Total depreciation and amortization $ 27,614 $ 24,486 $ 79,141 $ 68,769 The following table reconciles total segment income from operations in the table above to net income before provision for (benefit from) income taxes (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Total segment income from operations $ 412,748 $ 296,686 $ 1,199,742 $ 519,272 Unallocated corporate expenses (151,588) (119,617) (444,234) (345,285) Total income from operations 261,160 177,069 755,508 173,987 Interest income 401 329 2,427 2,788 Other income (expense), net 427 7,147 34,476 (12,368) Net income before provision for (benefit from) income taxes $ 261,988 $ 184,545 $ 792,411 $ 164,407 Geographical Information Net revenues are presented below by geographic area (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenues 1 : U.S. $ 448,858 $ 332,414 $ 1,266,258 $ 744,978 Switzerland 323,036 219,910 1,004,820 512,681 China 86,766 76,825 214,418 142,927 Other International 157,246 104,995 435,989 236,835 Total net revenues $ 1,015,906 $ 734,144 $ 2,921,485 $ 1,637,421 1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities. Tangible 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): September 30, December 31, 2020 Long-lived assets 1 : Switzerland $ 428,786 $ 257,337 U.S. 204,530 180,539 China 125,558 113,918 Costa Rica 94,308 97,804 Other International 242,314 167,676 Total long-lived assets $ 1,095,496 $ 817,274 1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Align Technology, Inc. (“we”, “our”, or “Align”) in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and contains all adjustments, including normal recurring adjustments, necessary to state fairly our results of operations for the three and nine months ended September 30, 2021 and 2020, our comprehensive income for the three and nine months ended September 30, 2021 and 2020, our financial position as of September 30, 2021, our stockholders’ equity for the three and nine months ended September 30, 2021 and 2020, and our cash flows for the nine months ended September 30, 2021 and 2020. The Condensed Consolidated Balance Sheet as of December 31, 2020 was derived from the December 31, 2020 audited financial statements. It does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”). The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or any other future period, and we make no representations related thereto. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and notes thereto included in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) in the U.S. requires our management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, useful lives of intangible assets and property and equipment, long-lived assets and goodwill, income taxes and contingent liabilities, the fair values of financial instruments and stock-based compensation among others. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Certain Risk and Uncertainties	Certain Risks and Uncertainties Due to the COVID-19 pandemic, we are subject to a greater degree of uncertainty than normal in making the judgments and estimates needed to apply our significant accounting policies. The full extent to which the pandemic, including as a result of any new strains, business restrictions or lockdowns, and the impact of vaccinations, will directly or indirectly impact our business, results of operations, cash flows, and financial condition will depend on future developments that are highly uncertain and cannot be accurately determined. Further, we could also be materially adversely affected by supply chain disruptions, including shortages and inflationary pressures, uncertain or reduced demand, labor shortages, delays in collection of outstanding receivables and the impact of any initiatives or programs that we may undertake to address financial and operational challenges faced by our customers.
Recent Accounting Pronouncements	Recent Accounting Pronouncements (i) New Accounting Updates Recently Adopted In December 2019, the Financial Accounting Standards Board ( “ FASB ” ) issued Accounting Standard Update ( “ ASU ” ) 2019-12, “ Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes, ” to enhance and simplify various aspects of the income tax accounting guidance. The amendment removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The amendments are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. Adoption of this standard in the first quarter of fiscal year 2021 did not have a material impact on our consolidated financial statements or related disclosures. (ii) Recent Accounting Updates Not Yet Effective

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Financial Assets Measured At Fair Value On Recurring Basis	The following tables summarize our financial assets measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in thousands): Description Balance as of Level 1 Level 2 Cash equivalents: Money market funds $ 582,227 $ 582,227 $ — Prepaid expenses and other current assets: Israeli funds 4,170 — 4,170 $ 586,397 $ 582,227 $ 4,170 Description Balance as of December 31, 2020 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 519,228 $ 519,228 $ — $ — Prepaid expenses and other current assets: Israeli funds 3,500 — 3,500 — Current unsecured promissory note 1 5,408 — — 5,408 $ 528,136 $ 519,228 $ 3,500 $ 5,408 1 The unsecured promissory note was paid in full by SmileDirectClub, LLC (“SDC”) during the nine months ended September 30, 2021. Besides the repayment on the note, on March 12, 2021, the Arbitrator ruled in favor of us on the SDC dispute and issued an award of $43.4 million along with interest. The gain of $43.4 million is recognized as a part of our other income (expense), net in our Condensed Consolidated Statement of Operation during the nine months ended September 30, 2021. Refer to Note 6 “Legal Proceedings” of the Notes to Condensed Consolidated Financial Statements included for more information on the arbitration.
Notional value of derivative instruments	The following table presents the gross notional value of all our foreign exchange forward contracts outstanding as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 Local Currency Amount Notional Contract Amount (USD) Euro €192,600 $ 222,456 Chinese Yuan ¥1,021,000 157,701 Canadian Dollar C$100,000 78,563 Japanese Yen ¥6,097,800 54,496 British Pound £40,250 54,296 Brazilian Real R$285,000 52,073 Polish Zloty PLN142,000 35,710 Mexican Peso M$310,000 15,065 Israel Shekel ILS38,400 11,914 Swiss Franc CHF10,600 11,356 Australian Dollar A$5,900 4,252 $ 697,882 December 31, 2020 Local Currency Amount Notional Contract Amount (USD) Euro €126,300 $ 155,125 Chinese Yuan ¥936,000 143,393 Canadian Dollar C$65,000 50,791 British Pound £32,300 43,879 Japanese Yen ¥4,249,000 41,222 Brazilian Real R$142,000 27,264 Israeli Shekel ILS74,000 23,094 Mexican Peso M$140,000 7,002 Australian Dollar A$5,800 4,447 Swiss Franc CHF3,700 4,191 $ 500,408

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands): September 30, December 31, Raw materials $ 104,017 $ 76,404 Work in process 51,527 31,393 Finished goods 51,572 31,440 Total inventories $ 207,116 $ 139,237
Schedule of Accrued Liabilities	Accrued liabilities consist of the following (in thousands): September 30, December 31, Accrued payroll and benefits $ 229,743 $ 170,106 Accrued expenses 62,828 42,536 Accrued sales and marketing expenses 55,310 34,488 Accrued property, plant and equipment 41,389 27,692 Accrued income taxes 35,152 30,130 Accrued professional fees 29,488 20,617 Current operating lease liabilities 22,170 21,735 Other accrued liabilities 69,206 58,278 Total accrued liabilities $ 545,286 $ 405,582
Schedule of Warranty Accrual	Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands): Nine Months Ended 2021 2020 Balance at beginning of period $ 12,615 $ 11,205 Charged to cost of net revenues 13,400 8,047 Actual warranty expenditures (11,040) (8,229) Balance at end of period $ 14,975 $ 11,023
Schedule of Deferred Revenues	Deferred revenues consist of the following (in thousands): September 30, December 31, Deferred revenues - current $ 1,070,113 $ 777,887 Deferred revenues - long-term 1 $ 108,387 $ 62,551 1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheet

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Summary of Goodwill by Reportable Segment	The change in the carrying value of goodwill for the nine months ended September 30, 2021, categorized by reportable segments, is as follows (in thousands): Clear Aligner Systems and Services Total Balance as of December 31, 2020 $ 112,691 $ 332,126 $ 444,817 Additions from acquisition 3,646 — 3,646 Foreign currency translation adjustments (3,062) (18,807) (21,869) Balance as of September 30, 2021 $ 113,275 $ 313,319 $ 426,594
Schedule of Amortized Intangible Assets	Acquired intangible long-lived assets were as follows, excluding intangibles that were fully amortized (in thousands): Weighted Average Amortization Period Gross Carrying Amount as of Accumulated Amortization Accumulated Impairment Loss Net Carrying Existing technology 10 $ 104,531 $ (19,923) $ (4,328) $ 80,280 Customer relationships 11 55,000 (24,888) (10,751) 19,361 Trademarks and tradenames 10 16,600 (4,087) (4,179) 8,334 Patents and other 8 6,511 (4,296) — 2,215 $ 182,642 $ (53,194) $ (19,258) 110,190 Foreign currency translation 5,604 Total intangible assets $ 115,794 Weighted Average Amortization Period Gross Carrying Accumulated Amortization Accumulated Impairment Loss Net Carrying Existing technology 10 $ 99,400 $ (12,719) $ (4,328) $ 82,353 Customer relationships 11 55,000 (21,879) (10,751) 22,370 Trademarks and tradenames 10 16,600 (2,934) (4,179) 9,487 Patents and other 8 6,610 (3,785) — 2,825 177,610 (41,317) (19,258) 117,035 Foreign currency translation 13,037 Total intangible assets $ 130,072
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The total estimated annual future amortization expense for these acquired intangible assets as of September 30, 2021 is as follows (in thousands): Fiscal Year Ending December 31, Amortization Remainder of 2021 $ 4,158 2022 15,392 2023 14,772 2024 13,831 2025 13,455 Thereafter 48,582 Total $ 110,190

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Stock-based Compensation Expense	The stock-based compensation related to our stock-based awards and employee stock purchase plans for the three and nine months ended September 30, 2021 and 2020 is as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cost of net revenues $ 1,451 $ 1,247 $ 4,175 $ 3,485 Selling, general and administrative 22,229 19,951 67,131 58,284 Research and development 4,722 4,031 13,192 11,394 Total stock-based compensation $ 28,402 $ 25,229 $ 84,498 $ 73,163
Summary Of Restricted Stock Units	A summary for the nine months ended September 30, 2021 is as follows: Number of Shares Underlying RSUs (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Aggregate Unvested as of December 31, 2020 632 $ 243.55 Granted 162 599.47 Vested and released (254) 215.09 Forfeited (33) 343.14 Unvested as of September 30, 2021 507 $ 365.16 1.4 $ 337,271
Summary Of Market-performance Based Restricted Stock Units	A summary for the nine months ended September 30, 2021 is as follows: Number of Shares Underlying MSUs (in thousands) Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term (in years) Aggregate Unvested as of December 31, 2020 227 $ 430.50 Granted 177 658.02 Vested and released (230) 513.73 Unvested as of September 30, 2021 174 $ 551.57 1.2 $ 115,851
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 Nine Months Ended 2021 2020 2021 2020 Expected term (in years) 1.2 1.0 1.1 1.0 Expected volatility 51.1 % 71.7 % 52.7 % 55.0 % Risk-free interest rate 0.1 % 0.1 % 0.1 % 0.9 % Expected dividends — — — — Weighted average fair value at grant date $ 257.89 $ 117.32 $ 246.84 $ 96.94

Common Stock Repurchase Progr_2

Common Stock Repurchase Programs (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Common Stock Repurchase Program Additional Information [Abstract]
Accelerated Share Repurchase Agreements	During 2021, we entered into the following ASRs providing for the repurchase of our common stock based on the volume-weighted average price during the term of the agreement, less an agreed upon discount. The table below sets forth information regarding our repurchases following table summarizes the information regarding repurchases of our common stock during the nine months ended September 30, 2021: Agreement Repurchase Amount Paid Completion Total Shares Average Price per Share April 30, 2021 May 2018 $ 100.0 July 30, 2021 171,322 $ 583.70 May 17, 2021 May 2021 $ 100.0 August 31, 2021 161,707 $ 618.40 August 2, 2021 May 2021 $ 75.0 September 27, 2021 109,239 $ 686.91

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share Basic And Diluted	The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net income $ 180,969 $ 139,371 $ 581,059 $ 1,616,900 Denominator: Weighted average common shares outstanding, basic 78,904 78,824 78,971 78,729 Dilutive effect of potential common stock 612 339 706 349 Total shares, diluted 79,516 79,163 79,677 79,078 Net income per share, basic $ 2.29 $ 1.77 $ 7.36 $ 20.54 Net income per share, diluted $ 2.28 $ 1.76 $ 7.29 $ 20.45 Anti-dilutive potential common shares 1 83 65 67 66 1 Represents RSUs and MSUs not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The supplemental cash flow information consists of the following (in thousands): Nine Months Ended 2021 2020 Non-cash investing and financing activities: Acquisition of property, plant and equipment in accounts payable and accrued liabilities $ 72,531 $ 43,147 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 21,626 $ 19,384 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 31,635 $ 44,915

Segments and Geographical Inf_2

Segments and Geographical Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summarized financial information by segment is as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenues Clear Aligner $ 837,593 $ 620,764 $ 2,431,821 $ 1,400,716 Systems and Services 178,313 113,380 489,664 236,705 Total net revenues $ 1,015,906 $ 734,144 $ 2,921,485 $ 1,637,421 Gross profit Clear Aligner $ 638,169 $ 463,747 $ 1,869,368 $ 1,007,605 Systems and Services 116,987 70,341 321,424 145,167 Total gross profit $ 755,156 $ 534,088 $ 2,190,792 $ 1,152,772 Income from operations Clear Aligner $ 346,957 $ 261,774 $ 1,022,048 $ 467,078 Systems and Services 65,791 34,912 177,694 52,194 Unallocated corporate expenses (151,588) (119,617) (444,234) (345,285) Total income from operations $ 261,160 $ 177,069 $ 755,508 $ 173,987 Stock-based compensation Clear Aligner $ 2,824 $ 2,003 $ 7,750 $ 6,628 Systems and Services 169 322 514 553 Unallocated corporate expenses 25,409 22,904 76,234 65,982 Total stock-based compensation $ 28,402 $ 25,229 $ 84,498 $ 73,163 Depreciation and amortization Clear Aligner $ 13,191 $ 10,413 $ 36,481 $ 30,231 Systems and Services 5,827 5,092 14,994 11,882 Unallocated corporate expenses 8,596 8,981 27,666 26,656 Total depreciation and amortization $ 27,614 $ 24,486 $ 79,141 $ 68,769 The following table reconciles total segment income from operations in the table above to net income before provision for (benefit from) income taxes (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Total segment income from operations $ 412,748 $ 296,686 $ 1,199,742 $ 519,272 Unallocated corporate expenses (151,588) (119,617) (444,234) (345,285) Total income from operations 261,160 177,069 755,508 173,987 Interest income 401 329 2,427 2,788 Other income (expense), net 427 7,147 34,476 (12,368) Net income before provision for (benefit from) income taxes $ 261,988 $ 184,545 $ 792,411 $ 164,407
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	Net revenues are presented below by geographic area (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Net revenues 1 : U.S. $ 448,858 $ 332,414 $ 1,266,258 $ 744,978 Switzerland 323,036 219,910 1,004,820 512,681 China 86,766 76,825 214,418 142,927 Other International 157,246 104,995 435,989 236,835 Total net revenues $ 1,015,906 $ 734,144 $ 2,921,485 $ 1,637,421 1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities. Tangible 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): September 30, December 31, 2020 Long-lived assets 1 : Switzerland $ 428,786 $ 257,337 U.S. 204,530 180,539 China 125,558 113,918 Costa Rica 94,308 97,804 Other International 242,314 167,676 Total long-lived assets $ 1,095,496 $ 817,274 1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Assets	$ 586,397	$ 528,136
Level 1
Debt Securities, Available-for-sale [Line Items]
Assets	582,227	519,228
Level 2
Debt Securities, Available-for-sale [Line Items]
Assets	4,170	3,500
Level 3
Debt Securities, Available-for-sale [Line Items]
Assets		5,408
Money market funds
Debt Securities, Available-for-sale [Line Items]
Cash equivalents	582,227	519,228
Money market funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Cash equivalents	582,227	519,228
Money market funds | Level 2
Debt Securities, Available-for-sale [Line Items]
Cash equivalents	0	0
Money market funds | Level 3
Debt Securities, Available-for-sale [Line Items]
Cash equivalents		0
Israeli Severance Funds
Debt Securities, Available-for-sale [Line Items]
Israeli funds	4,170	3,500
Israeli Severance Funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Israeli funds	0	0
Israeli Severance Funds | Level 2
Debt Securities, Available-for-sale [Line Items]
Israeli funds	$ 4,170	3,500
Israeli Severance Funds | Level 3
Debt Securities, Available-for-sale [Line Items]
Israeli funds		0
Notes Receivable
Debt Securities, Available-for-sale [Line Items]
Current unsecured promissory note		5,408
Notes Receivable | Level 1
Debt Securities, Available-for-sale [Line Items]
Current unsecured promissory note		0
Notes Receivable | Level 2
Debt Securities, Available-for-sale [Line Items]
Current unsecured promissory note		0
Notes Receivable | Level 3
Debt Securities, Available-for-sale [Line Items]
Current unsecured promissory note		$ 5,408

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	Mar. 12, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2020EUR (€)
Derivative [Line Items]
Amount owed from other party	$ 43,400
Gain on litigation settlement				$ 43,403	$ 0
Investments in equity securities of privately held companies		$ 8,600		8,600
Derivative gains (losses)		14,700	$ (12,100)	14,100	600
Unrealized loss		$ (14,700)	$ 12,100	$ (14,100)	(600)
exocad Acquisition
Derivative [Line Items]
Derivative gains (losses)					(10,200)
Unrealized loss					$ 10,200
Forward Contracts | exocad Acquisition
Derivative [Line Items]
Notional amount | €						€ 376,000,000

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Notional Instruments (Details) - Level 2 - Other current assets - Foreign Exchange Forward € in Thousands, ₪ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, zł in Thousands, SFr in Thousands, R$ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands

Sep. 30, 2021EUR (€)

Sep. 30, 2021USD ($)

Sep. 30, 2021CNY (¥)

Sep. 30, 2021CAD ($)

Sep. 30, 2021JPY (¥)

Sep. 30, 2021GBP (£)

Sep. 30, 2021BRL (R$)

Sep. 30, 2021PLN (zł)

Sep. 30, 2021MXN ($)

Sep. 30, 2021ILS (₪)

Sep. 30, 2021CHF (SFr)

Sep. 30, 2021AUD ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2020USD ($)

Dec. 31, 2020CNY (¥)

Dec. 31, 2020CAD ($)

Dec. 31, 2020JPY (¥)

Dec. 31, 2020GBP (£)

Dec. 31, 2020BRL (R$)

Dec. 31, 2020MXN ($)

Dec. 31, 2020ILS (₪)

Dec. 31, 2020CHF (SFr)

Dec. 31, 2020AUD ($)

Derivative [Line Items]

Notional amount

$ 697,882

$ 500,408

Euro

Derivative [Line Items]

Notional amount

€ 192,600

222,456

€ 126,300

155,125

Chinese Yuan

Derivative [Line Items]

Notional amount

157,701

¥ 1,021,000

143,393

¥ 936,000

Canadian Dollar

Derivative [Line Items]

Notional amount

78,563

$ 100,000

50,791

$ 65,000

Japanese Yen

Derivative [Line Items]

Notional amount

54,496

¥ 6,097,800

41,222

¥ 4,249,000

British Pound

Derivative [Line Items]

Notional amount

54,296

£ 40,250

43,879

£ 32,300

Brazilian Real

Derivative [Line Items]

Notional amount

52,073

R$ 285000

27,264

R$ 142000

Polish Zloty

Derivative [Line Items]

Notional amount

35,710

zł 142,000

Mexican Peso

Derivative [Line Items]

Notional amount

15,065

$ 310,000

7,002

$ 140,000

Israel Shekel

Derivative [Line Items]

Notional amount

11,914

₪ 38,400

23,094

₪ 74,000

Swiss Franc

Derivative [Line Items]

Notional amount

11,356

SFr 10,600

4,191

SFr 3,700

Australian Dollar

Derivative [Line Items]

Notional amount

$ 4,252

$ 5,900

$ 4,447

$ 5,800

Balance Sheet Components Invent

Balance Sheet Components Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Notes To Financial Statements [Abstract]
Raw materials	$ 104,017	$ 76,404
Work in process	51,527	31,393
Finished goods	51,572	31,440
Total inventories	$ 207,116	$ 139,237

Balance Sheet Components Accrue

Balance Sheet Components Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Notes To Financial Statements [Abstract]
Accrued payroll and benefits	$ 229,743	$ 170,106
Accrued expenses	62,828	42,536
Accrued sales and marketing expenses	55,310	34,488
Accrued property, plant and equipment	41,389	27,692
Accrued income taxes	35,152	30,130
Accrued professional fees	29,488	20,617
Current operating lease liabilities	22,170	21,735
Other accrued liabilities	69,206	58,278
Accrued liabilities	$ 545,286	$ 405,582

Balance Sheet Components Warran

Balance Sheet Components Warranty Accrual Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 12,615	$ 11,205
Charged to cost of net revenues	13,400	8,047
Actual warranty expenditures	(11,040)	(8,229)
Balance at end of period	$ 14,975	$ 11,023

Balance Sheet Components Deferr

Balance Sheet Components Deferred Revenues (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Notes To Financial Statements [Abstract]
Deferred revenues - current	$ 1,070,113	$ 777,887
Deferred revenues - long-term	$ 108,387	$ 62,551

Balance Sheet Components Narrat

Balance Sheet Components Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Balance Sheet Statements, Captions [Line Items]
Net revenues	$ 1,015,906	$ 734,144	$ 2,921,485	$ 1,637,421
Deferred revenues	112,600	$ 99,600	349,700	$ 263,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, remaining performance obligation	$ 1,200,000		$ 1,200,000
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year		1 year
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	5 years		5 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Change in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2020	$ 444,817
Additions from acquisition	3,646
Foreign currency translation adjustments	(21,869)
Balance as of September 30, 2021	426,594
Clear Aligner
Goodwill [Roll Forward]
Balance as of December 31, 2020	112,691
Additions from acquisition	3,646
Foreign currency translation adjustments	(3,062)
Balance as of September 30, 2021	113,275
Systems and Services
Goodwill [Roll Forward]
Balance as of December 31, 2020	332,126
Additions from acquisition	0
Foreign currency translation adjustments	(18,807)
Balance as of September 30, 2021	$ 313,319

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 182,642	$ 177,610
Accumulated Amortization	(53,194)	(41,317)
Accumulated Impairment Loss	(19,258)	(19,258)
Total intangible assets	110,190	117,035
Foreign currency translation	5,604	13,037
Total intangible assets	$ 115,794	$ 130,072
Existing technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	10 years	10 years
Gross carrying amount	$ 104,531	$ 99,400
Accumulated Amortization	(19,923)	(12,719)
Accumulated Impairment Loss	(4,328)	(4,328)
Total intangible assets	$ 80,280	$ 82,353
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	11 years	11 years
Gross carrying amount	$ 55,000	$ 55,000
Accumulated Amortization	(24,888)	(21,879)
Accumulated Impairment Loss	(10,751)	(10,751)
Total intangible assets	$ 19,361	$ 22,370
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	10 years	10 years
Gross carrying amount	$ 16,600	$ 16,600
Accumulated Amortization	(4,087)	(2,934)
Accumulated Impairment Loss	(4,179)	(4,179)
Total intangible assets	$ 8,334	$ 9,487
Patents and other
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	8 years	8 years
Gross carrying amount	$ 6,511	$ 6,610
Accumulated Amortization	(4,296)	(3,785)
Accumulated Impairment Loss	0	0
Total intangible assets	$ 2,215	$ 2,825

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Total Estimated Annual Future Amortization Expense for Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Disclosure Total Estimated Annual Future Amortization Expense For Acquired Intangible Assets [Abstract]
Remainder of 2021	$ 4,158
2022	15,392
2023	14,772
2024	13,831
2025	13,455
Thereafter	48,582
Total intangible assets	$ 110,190	$ 117,035

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 4.4	$ 4.1	$ 12.2	$ 9.5

Credit Facility - Additional In

Credit Facility - Additional Information (Details) - USD ($)	Jul. 21, 2020	Sep. 30, 2021	Jul. 20, 2020
2020 Credit Facility
Line of Credit Facility [Line Items]
Line of credit, available borrowings	$ 300,000,000
Outstanding borrowings		$ 0
2018 Credit Facility
Line of Credit Facility [Line Items]
Line of credit, available borrowings			$ 200,000,000
Letter of Credit | 2020 Credit Facility
Line of Credit Facility [Line Items]
Line of credit, available borrowings	$ 50,000,000
Letter of Credit | 2018 Credit Facility
Line of Credit Facility [Line Items]
Line of credit, available borrowings			$ 50,000,000
Base Rate | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Minimum | Base Rate | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Minimum | London Interbank Offered Rate (LIBOR) | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Maximum | Base Rate | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Maximum | London Interbank Offered Rate (LIBOR) | 2020 Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%

Legal Proceedings - Narrative (

Legal Proceedings - Narrative (Details) $ in Millions	Jun. 30, 2021USD ($)	Mar. 12, 2021USD ($)	Nov. 14, 2017claim	Aug. 19, 2019claim	Jan. 31, 2019claim	Dec. 31, 2018claim
Loss Contingencies [Line Items]
Amount owed from other party | $		$ 43.4
Patent Infringement By 3Shape
Loss Contingencies [Line Items]
Number of patent lawsuits/complaints			3
2018 Securities Class Action Lawsuit
Loss Contingencies [Line Items]
Settlement amount | $	$ 16
Shareholder Derivative Lawsuit
Loss Contingencies [Line Items]
Number of lawsuits					3
3Shape Patent Infringement
Loss Contingencies [Line Items]
Number of lawsuits				2		2

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 24, 2021	Dec. 31, 2018	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Purchase commitment minimum	$ 348		$ 425.9
Purchase commitment period		5 years

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	May 31, 2021
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance	2,194,566
Shares available for purchase		4,400,000
Incentive Plan 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	27,783,379
Shares available for issuance	4,236,601
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Total unamortized compensation cost	$ 132.3
Weighted average period of total unamortized cost (in years)	2 years 3 months 18 days
Market Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total unamortized compensation cost	$ 45.4
Weighted average period of total unamortized cost (in years)	1 year 2 months 12 days
Maximum percentage of market-performance based restricted stock units eligible to vest over the vesting period	250.00%
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unamortized compensation cost	$ 15
Weighted average period of total unamortized cost (in years)	8 months 12 days

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense Related to All Stock-Based Awards and Employee Stock Purchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 28,402	$ 25,229	$ 84,498	$ 73,163
Cost of net revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	1,451	1,247	4,175	3,485
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	22,229	19,951	67,131	58,284
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 4,722	$ 4,031	$ 13,192	$ 11,394

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Nonvested Shares (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Restricted Stock Units (RSUs)
Number of Shares Underlying RSUs
Unvested, beginning of period (in shares) | shares	632
Granted (in shares) | shares	162
Vested and released (in shares) | shares	(254)
Forfeited (in shares) | shares	(33)
Unvested, end of period (in shares) | shares	507
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) | $ / shares	$ 243.55
Granted (in usd per share) | $ / shares	599.47
Vested and released (in usd per share) | $ / shares	215.09
Forfeited (in usd per share) | $ / shares	343.14
Unvested, end of period (in usd per share) | $ / shares	$ 365.16
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term	1 year 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value | $	$ 337,271
Market Performance Based Restricted Stock Units
Number of Shares Underlying RSUs
Unvested, beginning of period (in shares) | shares	227
Granted (in shares) | shares	177
Vested and released (in shares) | shares	(230)
Unvested, end of period (in shares) | shares	174
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in usd per share) | $ / shares	$ 430.50
Granted (in usd per share) | $ / shares	658.02
Vested and released (in usd per share) | $ / shares	513.73
Unvested, end of period (in usd per share) | $ / shares	$ 551.57
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term	1 year 2 months 12 days
Aggregate Intrinsic Value
Aggregate intrinsic value | $	$ 115,851

Stockholders' Equity - Stock-_2

Stockholders' Equity - Stock-based Compensation Employee Stock Purchase Plan Fair Value Assumptions (Details) - Employee Stock Purchase Plan - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Class of Stock [Line Items]
Expected term (in years)	1 year 2 months 12 days	1 year	1 year 1 month 6 days	1 year
Expected volatility	51.10%	71.70%	52.70%	55.00%
Risk-free interest rate	0.10%	0.10%	0.10%	0.90%
Expected dividends	0.00%	0.00%	0.00%	0.00%
Weighted average fair value at grant date (in usd per share)	$ 257.89	$ 117.32	$ 246.84	$ 96.94

Common Stock Repurchase Progr_3

Common Stock Repurchase Programs - Additional Information (Details) - USD ($) shares in Millions	Nov. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	May 31, 2021	May 31, 2018
Share Repurchases [Line Items]
Amount paid		$ 275,038,000	$ 0
Subsequent Event
Share Repurchases [Line Items]
Authorized repurchase amount	$ 100,000,000
Amount paid	$ 100,000,000
Total shares received (in shares)	0.1
May 2018 Repurchase Program
Share Repurchases [Line Items]
Authorized repurchase amount					$ 600,000,000
May 2021 Repurchase Program
Share Repurchases [Line Items]
Authorized repurchase amount				$ 1,000,000,000
Amount available for repurchase		$ 825,000,000

Common Stock Repurchase Progr_4

Common Stock Repurchase Programs - Accelerated Share Repurchase Agreements (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 27, 2021	Aug. 31, 2021	Aug. 02, 2021	Jul. 30, 2021	May 17, 2021	Apr. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Share Repurchases [Line Items]
Amount paid							$ 275,038	$ 0
May 2018 Repurchase Program | April 30, 2021
Share Repurchases [Line Items]
Amount paid						$ 100,000
Total shares received (in shares)				171,322
Average price per share (in usd per share)				$ 583.70
May 2021 Repurchase Program | May 17, 2021
Share Repurchases [Line Items]
Amount paid					$ 100,000
Total shares received (in shares)		161,707
Average price per share (in usd per share)		$ 618.40
May 2021 Repurchase Program | August 2, 2021
Share Repurchases [Line Items]
Amount paid			$ 75,000
Total shares received (in shares)	109,239
Average price per share (in usd per share)	$ 686.91

Accounting for Income Taxes - A

Accounting for Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disclosure Accounting For Income Taxes Additional Information [Abstract]
Provision for (benefit from) income taxes	$ 81,019	$ 45,174	$ 211,352	$ (1,452,493)
Effective income tax rate, continuing operations	30.90%	24.50%	26.70%	(883.50%)
One-time tax benefit from intra-entity transfer of certain assets				$ 1,493,500
Unrecognized tax benefits	$ 64,600		$ 64,600		$ 46,300
Deferred tax liabilities	$ 32,300		$ 32,300		$ 35,700

Computation of Basic and Dilute

Computation of Basic and Diluted Net Income Per Share Attributable to Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 180,969	$ 139,371	$ 581,059	$ 1,616,900
Weighted average common shares outstanding, basic (in shares)	78,904	78,824	78,971	78,729
Dilutive effect of potential common stock (in shares)	612	339	706	349
Total shares, diluted (in shares)	79,516	79,163	79,677	79,078
Net income per share, basic (in usd per share)	$ 2.29	$ 1.77	$ 7.36	$ 20.54
Net income per share, diluted (in usd per share)	$ 2.28	$ 1.76	$ 7.29	$ 20.45
Anti-dilutive potential common shares (in shares)	83	65	67	66

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Non-cash investing and financing activities:
Acquisition of property, plant and equipment in accounts payable and accrued liabilities	$ 72,531	$ 43,147
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	21,626	19,384
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 31,635	$ 44,915

Segments and Geographical Inf_3

Segments and Geographical Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments and Geographical Inf_4

Segments and Geographical Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 1,015,906	$ 734,144	$ 2,921,485	$ 1,637,421
Gross profit	755,156	534,088	2,190,792	1,152,772
Income from operations	261,160	177,069	755,508	173,987
Stock-based compensation	28,402	25,229	84,498	73,163
Depreciation and amortization	27,614	24,486	79,141	68,769
Interest income	401	329	2,427	2,788
Other income (expense), net	427	7,147	34,476	(12,368)
Net income before provision for (benefit from) income taxes	261,988	184,545	792,411	164,407
Operating Segments
Segment Reporting Information [Line Items]
Income from operations	412,748	296,686	1,199,742	519,272
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income from operations	(151,588)	(119,617)	(444,234)	(345,285)
Stock-based compensation	25,409	22,904	76,234	65,982
Depreciation and amortization	8,596	8,981	27,666	26,656
Clear Aligner
Segment Reporting Information [Line Items]
Net revenues	837,593	620,764	2,431,821	1,400,716
Gross profit	638,169	463,747	1,869,368	1,007,605
Clear Aligner | Operating Segments
Segment Reporting Information [Line Items]
Income from operations	346,957	261,774	1,022,048	467,078
Stock-based compensation	2,824	2,003	7,750	6,628
Depreciation and amortization	13,191	10,413	36,481	30,231
Systems and Services
Segment Reporting Information [Line Items]
Net revenues	178,313	113,380	489,664	236,705
Gross profit	116,987	70,341	321,424	145,167
Systems and Services | Operating Segments
Segment Reporting Information [Line Items]
Income from operations	65,791	34,912	177,694	52,194
Stock-based compensation	169	322	514	553
Depreciation and amortization	$ 5,827	$ 5,092	$ 14,994	$ 11,882

Segments and Geographical Inf_5

Segments and Geographical Information - Net Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 1,015,906	$ 734,144	$ 2,921,485	$ 1,637,421
U.S.
Segment Reporting Information [Line Items]
Net revenues	448,858	332,414	1,266,258	744,978
Switzerland
Segment Reporting Information [Line Items]
Net revenues	323,036	219,910	1,004,820	512,681
China
Segment Reporting Information [Line Items]
Net revenues	86,766	76,825	214,418	142,927
Other International
Segment Reporting Information [Line Items]
Net revenues	$ 157,246	$ 104,995	$ 435,989	$ 236,835

Segments and Geographical Inf_6

Segments and Geographical Information - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total long-lived assets	$ 1,095,496	$ 817,274
Switzerland
Segment Reporting Information [Line Items]
Total long-lived assets	428,786	257,337
U.S.
Segment Reporting Information [Line Items]
Total long-lived assets	204,530	180,539
China
Segment Reporting Information [Line Items]
Total long-lived assets	125,558	113,918
Costa Rica
Segment Reporting Information [Line Items]
Total long-lived assets	94,308	97,804
Other International
Segment Reporting Information [Line Items]
Total long-lived assets	$ 242,314	$ 167,676