Align Technology Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	410.35	421.36	445.05	361.57	772.02
Depreciation & Amortization	237.44	145.03	142.4	125.79	108.73
Stock-Based Compensation	185.87	173.7	154.03	133.37	114.34
Other Adjustments	115.58	70.57	52.19	32.31	23.22
Change in Receivables	-139.91	-153.49	-104.61	21.55	-262.07
Changes in Inventories	0.81	25.05	30.17	-130.1	-112.45
Changes in Accounts Payable	5.33	-0.84	-7.7	-36.52	19.75
Changes in Accrued Expenses	-95.65	89.71	46.33	-121.94	158.54
Changes in Income Taxes Payable	-28.27	-20.28	-7.77	6.33	12.45
Changes in Unearned Revenue	-111.76	-80.11	86.71	241.89	462.64
Changes in Other Operating Activities	13.43	67.53	-51.01	-65.51	-124.63
Operating Cash Flow	593.22	738.23	785.78	568.73	1,173
Operating Cash Flow Growth	-19.64%	-6.05%	38.16%	-51.50%	77.08%
Capital Expenditures	-102.45	-115.58	-177.72	-291.9	-401.1
Purchases of Investments	-10	-106.35	-79.91	-28	-200.93
Proceeds from Sale of Investments	-	43.85	61.4	121.1	3.61
Payments for Business Acquisitions	-	-77.08	-	-12.3	-8
Other Investing Activities	-	0.24	0.28	-2.21	42.99
Investing Cash Flow	-112.45	-254.91	-195.94	-213.32	-563.43
Issuance of Common Stock	21.75	25.28	26.6	26.15	25.62
Repurchase of Common Stock	-465.94	-352.88	-592.36	-435.04	-375.04
Net Common Stock Issued (Repurchased)	-444.19	-327.6	-565.77	-408.89	-349.42
Other Financing Activities	-20.39	-28.13	-32.58	-92.8	-108.92
Financing Cash Flow	-464.58	-355.72	-598.34	-501.69	-458.33
Effect of Exchange Rate Changes on Cash and Cash Equivalents	35.03	-21.15	4.67	-11.51	-12.12
Net Cash Flow	51.22	106.44	-3.84	-157.78	138.67
Free Cash Flow	490.78	622.65	608.06	276.83	771.45
Free Cash Flow Growth	-21.18%	2.40%	119.65%	-64.11%	52.08%
FCF Margin	12.16%	15.57%	15.74%	7.41%	19.52%
Free Cash Flow Per Share	6.76	8.30	7.94	3.53	9.68
Levered Free Cash Flow	329.24	531.87	506.46	89.6	895.95
Unlevered Free Cash Flow	301.52	530.95	507.94	115.88	868.48

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.