Exhibit 99.2
ALIGN TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended Nine Months Ended
(in thousands, except
per share data) Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2004 2003 2004 2003
Revenues $45,766 $34,038 $129,175 $86,223
Cost of revenues 14,922 13,446 42,565 38,639
Gross profit 30,844 20,592 86,610 47,584
Operating expenses:
Sales and marketing 13,884 10,505 40,555 32,551
General and administrative 8,263 8,722 25,196 25,630
Research and development 4,846 3,113 11,750 9,810
Total operating expenses 26,993 22,340 77,501 67,991
Profit (loss) from operations 3,851 (1,748) 9,109 (20,407)
Interest and other income
(expense), net (217) (359) (619) (129)
Provision for income taxes (316) (37) (843) (38)
Net profit (loss) $3,318 $(2,144) $7,647 $(20,574)
Net profit (loss) per share -- basic $0.06 $(0.04) $0.13 $(0.36)
Weighted-average shares used in
computing basic net profit (loss)
per share 60,319 57,948 59,703 57,543
Net profit (loss) per
share -- diluted $0.05 $(0.04) $0.12 $(0.36)
Weighted-average shares used in
computing diluted net profit (loss)
per share 64,055 57,948 64,298 57,543
ALIGN TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands) September 30, December 31,
2004 2003
ASSETS
Current assets:
Cash and cash equivalents $63,215 $44,939
Restricted cash 281 439
Marketable securities, short-term 519 2,292
Accounts receivable, net 27,663 21,265
Inventories, net 2,150 2,334
Other current assets 5,855 5,845
Total current assets 99,683 77,114
Property and equipment, net 23,304 23,121
Other long-term assets 2,197 1,967
Total assets $125,184 $102,202
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $3,899 $3,095
Accrued liabilities 21,733 19,180
Deferred revenue 13,798 13,113
Debt, current portion 1,932 1,989
Total current liabilities 41,362 37,377
Debt, long-term portion 428 1,849
Total liabilities 41,790 39,226
Total stockholders' equity 83,394 62,976
Total liabilities and
stockholders' equity $125,184 $102,202