Angelalign Announces Solid Progress in 2023

09.04.2024 - 10:27:50

Business Wire India

On March 19, 2024, Angelalign Technology Inc. ("Angelalign” or the “Company”) announced solid progress in 2023 with annual results showing growth both in its domestic and international businesses. Despite challenging global market conditions, Angelalign reinforced its market leadership in China and made meaningful progress in international markets.

The Company’s total case number grew to 245,000, representing a year-on-year growth of 33.2%, with international case numbers being 13.5% of total case numbers. Adjusted segment profit for China operations increased by 29.9%. The Company also has a net cash position of RMB 3.4 billion (including wealth management products), demonstrating a healthy financial condition.

Angelalign's international business has been growing steadily across Europe, Asia-Pacific and the Americas. Last year, the Company expanded its services to over 30 countries and regions, with Europe showing notable adoption. In China, Angelalign's dedication to innovation has allowed it to lead the clear aligner sector for three consecutive years.

Angelalign has continued investing in R&D, broadened its patent portfolio and strengthened its offering in digital orthodontics. The Company's R&D investment of RMB 173.6 million, representing 11.8% of its total revenue in 2023, demonstrated its commitment to being an industry innovator.

Through over 20 years of iterating the complex foundational capability required of a full-service, clinically advanced and operationally mature aligner business, Angelalign is now making this experience and tools available to clinicians worldwide.

In the words of Angelalign’s CEO Mr. Hu Jiezhang, "We are going to steadfastly execute our strategy of digitalization and globalization. By continuously investing in R&D and innovation, we aim to fulfill our clinical mission, enhance clinical experience, and quickly respond to customer needs. We will continue to attract global talent by making our organization culture open, inclusive and mission-driven."