Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Align Technology Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net revenues	3,734,635)	3,952,584)	2,471,941)	2,406,796)	1,966,492)
Cost of net revenues	(1,100,860)	(1,017,229)	(708,706)	(662,899)	(518,625)
Gross profit	2,633,775)	2,935,355)	1,763,235)	1,743,897)	1,447,867)
Selling, general and administrative	(1,674,469)	(1,708,640)	(1,200,757)	(1,072,053)	(852,404)
Research and development	(305,258)	(250,315)	(175,307)	(157,361)	(128,899)
Restructuring and other charges	(11,453)	—)	—)	—)	—)
Impairments and other charges (gains), net	—)	—)	—)	(22,990)	—)
Litigation settlement gain	—)	—)	—)	51,000)	—)
Operating expenses	(1,991,180)	(1,958,955)	(1,376,064)	(1,201,404)	(981,303)
Income from operations	642,595)	976,400)	387,171)	542,493)	466,564)
Interest income	5,367)	3,103)	3,125)	12,482)	8,576)
Other income (expense), net	(48,905)	32,920)	(11,347)	7,676)	(8,489)
Interest income and other income (expense), net	(43,538)	36,023)	(8,222)	20,158)	87)
Net income before (provision for) benefit from income taxes	599,057)	1,012,423)	378,949)	562,651)	466,651)
(Provision for) benefit from income taxes	(237,484)	(240,403)	1,396,939)	(112,347)	(57,723)
Equity in losses of investee, net of tax	—)	—)	—)	(7,528)	(8,693)
Net income	361,573)	772,020)	1,775,888)	442,776)	400,235)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Align Technology Inc. net revenues increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Align Technology Inc. income from operations increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Net income before (provision for) benefit from income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Align Technology Inc. net income before (provision for) benefit from income taxes increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Align Technology Inc. net income decreased from 2020 to 2021 and from 2021 to 2022.

Align Technology Inc. (NASDAQ:ALGN)

Income Statement