| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 29, 2026 | 4/12 | 2 high, 4 medium flags | 1 | 0 | Call sheet → |
| Q1'26 | April 29, 2026 | 9/12 | 2 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q4'25 | February 4, 2026 | 11/12 | 1 medium, 5 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Partial | Q1: “Zero‑AA pilot in DSOs, early stage.” Q2 says rollout is “modest” with no volume; still early, not the broad adoption suggested. |
| Q2'26 | Partial | Q1: “Direct‑Fab limited‑market releases in Q1.” Q2 mentions Direct‑Fab in margin target but no further release details; rollout appears slower than implied. |
| Q2'26 | Exceeded | Q1: “Share repurchase $200 M completed, another $200 M planned.” Q2 call confirms $133 M already repurchased through Oct 2026 and plans up to $500 M FY. |
| Q2'26 | On‑track | Q1: “Capital expenditures $125‑$150 M FY2026 for technology upgrades.” No Q2 spend disclosed yet, but commitment remains. |
| Q2'26 | Pending | Q1: “Patient financing live in >4,000 offices, strong adoption.” Q2 provides only qualitative “gain traction” language; no conversion lift disclosed. |
| Q2'26 | Pending | Q1: “DSO volumes grew double‑digit across all regions, ~25% of total volume.” Q2 call omitted any DSO growth rate; management only said “stable.” No data to confirm delivery. |
| Q1'26 | Exceeded | Direct fab limited market release of retainers/attachments in 2026 Already began limited release in Q1, ahead of schedule |
| Q1'26 | Pending | NOAA rollout to be 'pretty much lined out' by end Q1/start Q2 Now saying 'still early' and timeline extends into Q2 for APAC |
| Q1'26 | Delivered | Systems revenue down sequentially in Q1 consistent with seasonality Down from $209M to $184M as expected |
| Q1'26 | Exceeded | Q1 2026 non-GAAP operating margin ~19.5% Delivered 21.5%, 200bps above guidance |
| Q1'26 | Delivered | Q1 2026 worldwide revenue $1.01-1.03B Delivered $1.041B, above midpoint of range |
| Q1'26 | Delivered | Q1 2026 Clear Aligner volume up mid-single digits YoY Delivered 6.7% growth, within mid-single digit range |
| Q4'25 | Pending | At least 100bps operating margin improvement in 2026 Reiterated and specified as 23.7% non-GAAP target |
| Q4'25 | Pending | Invisalign Direct retainers and attachments in 2026 Confirmed on track for limited market release |
| Q4'25 | Delivered | ClinCheck Live Plan rollout in limited markets Launched with 15-minute treatment planning capability |
| Q4'25 | Delivered | 2025 non-GAAP operating margin slightly above 22.5% Full year 2025 was 22.7% |
| Q4'25 | Pending | 2025 GAAP operating margin around 13.6-13.8% Need full year calculation, Q4 was 14.8% |
| Q4'25 | Exceeded | Q4 non-GAAP operating margin approximately 26% Delivered 26.1%, slightly above target |
| Q4'25 | Delivered | Q4 Clear Aligner volume and ASP up sequentially Volume up 4.5% sequential, ASP up $5 to $1,240 |
| Q4'25 | Exceeded | Q4 2025 revenues $1.025-1.045B Delivered $1.048B, above high end of range |
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