SHANGHAI, Aug. 27, 2024 — Angelalign Technology Inc. (“Angel Aligner” or the “Company”) announced strong financial results for the first half of 2024, showcasing its successful global expansion in the clear aligner market. The Company reported significant growth in key international markets, while maintaining its strong position in the China market.
During the first half of 2024, Angel Aligner saw a substantial increase in case shipments, growing from approximately 95,400 cases in the same period of 2023 to 152,900. In China, case shipments reached 95,300, solidifying Angel Aligner’s leading market share. The Company also reported 57,600 cases in international markets, representing 37.7% of total cases. This success is attributed to Angel Aligner’s high-quality treatment planning, robust clinical and commercial support, and reliable delivery capabilities, enabling the Company to expand its presence to over 50 countries globally.
Angel Aligner’s total revenue surged by 39.8% year-over-year to approximately USD 121.3 million. Revenue in the China market grew to USD 89.1 million, while revenue in the international market reached USD 32.1 million, demonstrating a growing contribution from global operations. Additionally, gross profit rose by 47.1% to USD 75.7 million, with the gross margin improving to 62.4%.
Angel Aligner’s growth strategy is carefully tailored to the unique needs of orthodontic professionals and patients in diverse regional markets.
In Europe, Angel Aligner strengthened its relationships with orthodontists through user events led by Key Opinion Leaders and customer-centric localized operations. For instance, in March 2024, the Company hosted the first Angel Aligner European Academic Forum in Spain. At this event, Angel Aligner invited leading orthodontic experts to discuss the clinical application and development of clear aligner technology, covering topics such as biomechanics, early orthodontic treatment, material and treatment planning, and future trends.
In Brazil, Angel Aligner is leveraging its acquisition of Aditek by enhancing Aditek’s capabilities in medical design and intelligent manufacturing. This move is driving the growth of Aditek’s own brand, “Self”, and laying a solid foundation for the official launch of Angel Aligner’s product line in Brazil. The Company plans to address the diverse needs of the Brazilian market through a dual-brand strategy with “Self” and “Angel Aligner”.
In the Asia-Pacific region, Angel Aligner further expanded its market presence into countries like Malaysia and Thailand by combining regional business teams with local distributor networks. In North America, Angel Aligner gained significant attention and recognition at the 124th Annual Session of the American Association of Orthodontists (AAO).
To enhance the experience for orthodontic professionals and patients globally, Angel Aligner has remained committed to user-centric digital innovation, continuously iterating the iOrtho digital orthodontic intelligent service platform and further enhancing green manufacturing and intelligent unmanned production capabilities. In the first half of 2024, the Company invested USD 10.5 million in research and development, accounting for 8.7% of total revenue.
Angel Aligner’s global expansion has been strategically supported by its controlling shareholder CareCapital, a global healthcare investment and operating group with oral care as a primary focus. CareCapital’s extensive knowledge and insights into the dental industry have shaped Angel Aligner’s localization strategies and talent acquisition worldwide. Furthermore, CareCapital’s vast network has facilitated strategic partnerships, acquisitions, and development of KOL relationships, ultimately contributing to the establishment of a trusted brand name for Angel Aligner globally.
Angel Aligner CEO Hu Jiezhang commented, “The global clear aligner industry holds immense growth potential. Angel Aligner will continue to pursue a dual-engine strategy of digitalization and globalization, driving innovation in clear aligner solutions, advancing the digital and intelligent capabilities of our software, and upholding high standards in orthodontic medical services and large-scale personalized manufacturing. Our goal is to create superior user experiences and deliver better services to Orthodontic professionals and patients worldwide.”
Company: ANGELALIGN TECHNOLOGY INC.
Contact Person: Lexie Huang
Job title: PR Manager
Email: pr@angelalign.com
Website: http://www.angelalign.com/
Telephone: +862156561919
City：Shanghai
Add: 7th Floor, Building 7, Qiye Center, No. 500 Zhengli Road, Yangpu District, Shanghai, China