UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED+
CONSTANT CURRENCY GROSS PROFIT AND GROSS MARGIN
(in thousands, except percentages)
Current year versus prior year constant currency analysis:
|
|
Year Ended December 31, |
||||
|
|
2023 |
|
2022 |
||
GAAP gross profit |
|
$ |
2,706,863 |
|
$ |
2,633,775 |
Constant currency impact on net revenues |
|
|
36,310 |
|
|
|
Constant currency gross profit |
|
$ |
2,743,174 |
|
|
|
|
|
Year Ended December 31, |
||||
|
|
2023 |
|
2022 |
||
GAAP gross margin |
|
70.1 |
% |
|
70.5 |
% |
Constant currency impact on net revenues(1) |
|
0.3 |
|
|
|
|
Constant currency gross margin(1) |
|
70.4 |
% |
|
|
|
Note:
(1) We define constant currency gross margin as constant currency gross profit as a percentage of constant currency net revenues. Gross margin constant currency impact is the increase or decrease in constant currency gross margin compared to the GAAP gross margin.
(+) Changes and percentages are based on actual values. Certain tables may not sum or recalculate due to rounding. Refer to "About Non-GAAP Financial Measures" section of press release.
ALIGN TECHNOLOGY, INC.
UNAUDITED GAAP TO NON-GAAP RECONCILIATION CONTINUED+
CONSTANT CURRENCY INCOME FROM OPERATIONS AND OPERATING MARGIN
(in thousands, except percentages)
Sequential constant currency analysis:
|
|
Three Months Ended |
||||
|
|
December 31,
|
|
September 30,
|
||
GAAP income from operations |
|
$ |
171,545 |
|
$ |
166,346 |
Income from operations constant currency impact (1) |
|
|
8,226 |
|
|
|
Constant currency income from operations (1) |
|
$ |
179,771 |
|
|
|
|
|
|
Three Months Ended |
||||
|
|
|
December 31,
|
|
September 30,
|
||
| GAAP operating margin |
|
17.9 |
% |
|
17.3 |
% |
| Operating margin constant currency impact (2) |
|
0.6 |
|
|
|
|
| Constant currency operating margin (2) |
|
18.5 |
% |
|
|
|
