Segments and Geographical Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized financial information by segment is as follows (in thousands):

	Three Months Ended March 31,
	2024		2023
Net revenues
Clear Aligner	$	817,251	$	789,804
Systems and Services	180,180		153,343
Total net revenues	$	997,431	$	943,147
Gross profit
Clear Aligner	$	579,146	$	566,139
Systems and Services	118,670		94,515
Total gross profit	$	697,816	$	660,654
Income from operations
Clear Aligner	$	286,238	$	277,521
Systems and Services	49,693		35,576
Unallocated corporate expenses	(181,796)		(179,581)
Total income from operations	$	154,135	$	133,516
Stock-based compensation
Clear Aligner	$	3,764	$	4,654
Systems and Services	359		321
Unallocated corporate expenses	34,665		32,760
Total stock-based compensation	$	38,788	$	37,735
Depreciation and amortization
Clear Aligner	$	14,433	$	16,398
Systems and Services	6,838		8,146
Unallocated corporate expenses	11,675		11,276
Total depreciation and amortization	$	32,946	$	35,820

The following table reconciles total segment income from operations in the table above to net income before provision for income taxes (in thousands):

	Three Months Ended March 31,
	2024		2023
Total segment income from operations	$	335,931	$	313,097
Unallocated corporate expenses	(181,796)		(179,581)
Total income from operations	154,135		133,516
Interest income	4,392		2,337
Other income (expense), net	(141)		(1,229)
Net income before provision for income taxes	$	158,386	$	134,624

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Net revenues are presented below by geographic area (in thousands):

	Three Months Ended March 31,
	2024		2023
Net revenues 1:
U.S.	$	432,101	$	411,138
Switzerland	251,758		313,131
Other International	313,572		218,878
Total net revenues	$	997,431	$	943,147

1 Net revenues are attributed to countries based on the location of where revenues are recognized by our legal entities.

Tangible long-lived assets, which includes Property, plant and equipment, net, and Operating lease right-of-use assets, net, are presented below by geographic area (in thousands):

	March 31, 2024		December 31, 2023
Long-lived assets 1:
Switzerland	$	573,000	$	575,432
U.S.	210,283		210,275
Other International	617,422		623,155
Total long-lived assets	$	1,400,705	$	1,408,862

1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.