Align Technology raises revenue growth forecast after beating Q1 estimates

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Align Technology has raised its annual revenue growth forecast after reporting better-than-expected Q1 profit. The company's clear teeth aligners have seen resilient demand among teenagers and younger patients. Align now expects its fiscal 2024 total revenue growth to be up 6% to 8% year-over-year, compared to the previously expected mid-single digit rise over 2023. The demand for clear aligners and orthodontic treatment has been improving since Q4 2023, following a decline during the pandemic. Align's Q1 total revenue rose 5.8% to $997.4m, beating analysts' estimates. The company's lead product segment, Invisalign, recorded a 2.4% rise in patient volume. Align Technology expects Q2 total sales to be between $1.03bn and $1.05bn, in line with analysts' estimates.

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