Overview

• Align reported second-quarter net income of $124.6 million and adjusted EPS of $2.49 on $1.01 billion in revenue, missing analyst expectations
• Shares fell more than 35% in a single session, marking the steepest drop in the S&P 500 on July 31
• The company outlined a second-half restructuring plan that includes workforce reductions to streamline operations
• It expects to incur $150 million to $170 million in one-time charges related to the cost-cutting measures
• Executives say the actions will reallocate resources toward core growth objectives and support long-term profitability