On March 27, 2026, ANGELALIGN (06699) released its annual results for 2025. During the reporting period, the company's business continued to perform strongly, achieving a total of 532,400 cases for the full year, a year-on-year increase of 48.1%. Revenue reached $370.3 million, up 37.8% compared to the previous year. Driven by its medical mission, the company fully leveraged the advantages of its open corporate culture, harnessing the power of global talent and building an efficient organizational structure to meet the clinical needs of customers worldwide.
The CEO of ANGELALIGN stated that the invisible orthodontics industry involves highly complex and diverse technologies, requiring top-tier technical and operational talent, as well as efficient collaboration among professionals from different countries to contribute their experience and wisdom. Consequently, ANGELALIGN's distinctive open corporate culture has demonstrated significant advantages. The company attracts and unites professional and managerial talent from around the globe with diverse cultural backgrounds, working towards a common medical goal to create exceptional products and services. It is this inclusive corporate culture that drives the long-term development of ANGELALIGN.
Numerous leading orthodontists in major global cities have validated the clinical outcomes, generating strong word-of-mouth recommendations. Invisible orthodontics involves long-term treatment, where differences in product and treatment plan quality accumulate and gradually become apparent over the course of treatment involving dozens or even hundreds of aligners. Therefore, experienced orthodontists often require years of personal clinical verification before genuinely endorsing and adopting a brand. Furthermore, orthodontics, as a top-tier specialty, has formed close-knit professional communities in various countries. Leading orthodontic experts share their treatment experiences in real-time during treatment cycles, forming consensus that subsequently influences the usage habits of broader groups of dentists.
Based on these two characteristics of the global orthodontics industry, ANGELALIGN chose a challenging development path different from conventional export trade: directly entering major global cities to serve leading orthodontists, providing them with high-quality localized services and clinical support. With the strong support of global investors and employees, ANGELALIGN invested significant resources and underwent complex organizational restructuring to meet the demand for highly specialized services from dentists worldwide. After three years of dedicated effort, ANGELALIGN has achieved tangible progress in global markets.
Today, in many major cities including New York, London, Paris, Tokyo, Madrid, Sydney, Los Angeles, Boston, Cologne, and São Paulo, ANGELALIGN has established an excellent reputation among industry opinion leaders, particularly favored by dentists who pursue superior clinical value. Hundreds of international orthodontic specialists have used ANGELALIGN products in at least one hundred cases each, with some experts even exceeding a thousand cases, especially involving complex conditions. This firsthand experience is generating professional endorsement that is spreading outward, gradually influencing mainstream dental communities in various countries. Concurrently, the global dental community is gaining a deeper understanding of the differences in clinical efficacy and predictability among invisible orthodontic products, further solidifying the advantages of leading international brands like ANGELALIGN.
In addition to mature products and medical services, the innovative trends introduced by ANGELALIGN have been warmly received by dentists globally. Take the Angel Attachment Solution as an example; since its launch six years ago, it has been used over 100 million times in clinical practice worldwide. Extensive user feedback has provided a crucial basis for further enhancing the product's industrial stability and clinical predictability. Today, the Angel Attachment Solution is widely recognized; the stability and maturity of its traction efficacy, along with numerous supporting biomechanical movement designs, effectively improve treatment efficiency and patient comfort. Another innovative example is the ANGELALIGN A6 Mandibular Advancement Solution, which has achieved excellent clinical outcomes after ten years of clinical application feedback and continuous iteration.
ANGELALIGN's innovation focuses on addressing clinical challenges for dentists and optimizing patient experience, rather than merely chasing the latest technological trends. More importantly, even the best innovative ideas require long-term clinical use and continuous refinement to achieve predictable treatment outcomes. ANGELALIGN collaborates closely with orthodontists from diverse backgrounds worldwide, integrating their innovative ideas into the research, development, and validation of next-generation solutions. The open corporate culture plays a key role in this process, enabling ANGELALIGN to incorporate feedback from both internal staff and global orthodontists. Building on this culture, the company further leverages its organizational strengths to efficiently integrate R&D, medical, commercial, and operational teams, providing localized solutions that meet the unique requirements of over 60 countries.
Currently, the company has established highly specialized medical education and training, clinical support, and sales teams in five regional markets: Europe, Middle East & Africa; North America; Asia-Pacific; South America; and China. To adapt to the evolving international landscape, the company has set up medical design centers in China, Brazil, and Southeast Asia, and established aligner production centers in China, the United States, and Brazil. Simultaneously, with the continuous accumulation of innovative achievements, the company will persistently increase compliance investments, strengthen its data security system, build a robust intellectual property barrier, and take necessary measures to protect its innovations.
In 2025, ANGELALIGN's international market case volume reached 256,200 cases, a year-on-year increase of 82.1%, with revenue of $163.0 million, surging 102.5% year-on-year. As the volume of high-quality cases continues to grow, an increasing number of leading orthodontic specialists are proactively recommending ANGELALIGN to their peers, especially for complex cases, and publishing papers in professional journals, propelling the company's global business into a new growth phase driven by professional endorsement.
The company remains committed to serving the lower-tier markets in China, expanding its product lines and medical support coverage. China's invisible orthodontics market exhibits a distinct multi-tiered structure, with significant differences in dentist capabilities, patient needs, and medical service models across regions. In China's first and second-tier cities, ANGELALIGN continues to rely on its mature medical service system and stable operational support capabilities, collaborating deeply with dentists to establish high-level clinical benchmarks. In 2025, the company integrated traditional orthodontic concepts with digital innovation tools, introducing new technologies like the Angel Curved Guide Plate and Angel Locking Guide Plate for adult complex cases, providing dentists with stronger support for clinical diagnosis and treatment of challenging conditions. For child and adolescent patients, the company launched a series of products tailored to growth and development characteristics, making treatment simpler and more comfortable for younger patients. The iOrtho orthodontic design platform for dentists undergoes bi-weekly version iterations, combined with product innovation, delivering a smoother clinical and procedural experience for dentists.
In the broader third and fourth-tier cities of China, ANGELALIGN is firmly committed to serving the lower-tier market. Through systematic dentist training, clinical support, and full-cycle solutions, the company helps more dentists consistently perform invisible aligner treatments, significantly enhancing treatment predictability, shortening treatment cycles, and reducing case restart rates, enabling a wider patient population to access high-standard care. As some invisible aligner brands have exited the lower-tier markets, ANGELALIGN's leading position and influence there have further expanded. The underlying reason for this shift is that dentists in these markets are increasingly recognizing that differences in production processes, medical design, and clinical support capabilities among brands become magnified during treatment, ultimately leading to some cases being unable to conclude successfully, with manufacturers facing soaring contingent costs due to continuous aligner shipments. Based on this assessment, a large number of dentists in these markets are proactively choosing leading brands that better guarantee treatment outcomes. Notably, some defunct invisible aligner brands have even advised their partner dentists to transfer cases to leading brands with patient consent, cooperating actively to ensure smooth continuation of patient treatment.
In 2025, ANGELALIGN's case volume in the Chinese mainland market reached 276,200 cases, a year-on-year increase of 26.3%, with revenue reaching $207.3 million, up 10.1% year-on-year. Among the dentist community in the lower-tier markets, ANGELALIGN has established a leading market share and brand influence, continuously expanding its market coverage. For ANGELALIGN, a firm commitment to the Chinese lower-tier market signifies not only business expansion but also enabling more dentists in these regions to receive stable product and service support, allowing more patients to benefit from standardized invisible orthodontic treatment.
Currently, ANGELALIGN's cumulative total case count has surpassed 2 million. This is a significant milestone – ANGELALIGN's case portfolio has historically consisted predominantly of complex cases, whereas simple cases represent a different category and technical barrier. The significance of these 2 million cases lies in the fact that each one represents the outcome of complex collaboration driven by a medical mission, involving numerous talented individuals. The deep integration of this culture, team, system, and total case volume forms a solid foundation for ANGELALIGN's long-term development.
Looking ahead, the global invisible orthodontics industry still holds vast potential for growth. ANGELALIGN will adhere to its open corporate culture, resolutely increase investment in technological innovation, continuously strengthen its global clinical service system, and further enhance the customer experience in every country it serves. The company firmly believes this approach will powerfully drive sustainable growth across all its regional businesses worldwide.