Thanks, Shirley. Good afternoon, and thank you for joining us today. On today's call, I'll start with an overview of our second quarter 2026 results, discuss performance across our 2 operating segments, Clear Aligners and Systems and Services. John will then walk you through our financial results and outlook for Q3 and 2026. And after that, I'll come back and highlight a few key takeaways before we open the call for questions. We delivered a solid second quarter with record revenues of $1.06 billion, up 4.3% year-over-year, driven by record Clear Aligner volumes of 692,000 cases and 8.2% Clear Aligner revenue growth. Q2 '26 revenues and Clear Aligner volumes were in line with our outlook, while Clear Aligner ASPs and non-GAAP operating margin of 22.9% exceeded our expectations. Q2 '26 year-over-year Clear Aligner volume growth of 7.4% was driven by continued double-digit expansion across APAC, EMEA and Latin America, together with stable performance in North America. Growth reflected continuing adoption across orthodontists and GP dentist channels and across adult, teen and growing patient segments as well as continued double-digit growth from our DSOs. Investments in patient financing, clinical support programs, doctor subscription offerings and practice productivity solutions supported adoption and utilization across our global Invisalign business. In Systems and Services, Q2 '26 revenue performance reflected persistent softness in the capital equipment market as well as a shift toward lower-priced scanners and flexible acquisition models, including leasing and rental programs, which generate lower upfront revenue than traditional scanner purchases. Overall, second quarter results reflect continued execution against a volatile macroeconomic backdrop. While the environment created some noise in the quarter, the underlying momentum in business driven by ongoing investments in innovation, customer engagement and digital workflows continue to support improvements in practice productivity, patient conversion and treatment adoption. For Imaging Systems and CAD/CAM Systems and Services, including iTero, exocad and X-ray Insight software, Q2 revenue of $185.3 million was down 11% year-over-year as a result of lower scanner ASPs, partially offset by double-digit growth in unit placements, driven by continued challenges in the capital equipment market with higher interest rates and increased macro uncertainty. We continue to lower the total acquisition cost of and expand access to intraoral scanning by offering doctors a range of purchasing options for iTero Lumina scanner that best fits the needs, budgets and cash flows of our customers, including low-cost configurations such as iTero Lumina PC and certified preowned scanners and rental and lease programs. Importantly, while growing adoption of these purchasing options creates a near-term headwind to reported revenue and profitability, this is an intentionally and strategically attractive evolution of the business. By lowering the upfront cost of adoption, we can expand access to care, grow recurring revenue and strengthen the Align Digital Platform. We're already seeing the benefits of this strategy. During Q2, scanner placements to new doctors reached a record level and increased double digits year-over-year, driven by continued adoption of iTero Lumina. Active scanner units also grew double digits year-over-year, while more than 12.4 million restorative, wellness and orthodontic scans were performed during the quarter, an increase of 16% year-over-year. Healthy scanner placements, growth in active units and increasing digital workflow utilization support communications between doctors and patients to improve patient oral health and aesthetics and strengthen the connection between diagnostics, treatment planning, restorative workflows, orthodontic treatments, including Clear Aligner adoption. Our exocad CAD/CAM business delivered double-digit year-over-year revenue growth in Q2, reinforcing our strategy to expand access to care by seamlessly integrating orthodontics and restorative dentistry across the Align Digital Platform. During the quarter, exocad hosted its flagship Insights 2026 event, bringing together more than 850 dental professionals from over 44 countries and launched exocad ART, which means Advanced Restorative Treatment, which combines tooth alignment and restorative treatments within the exocad software to offer more doctors and patients more comprehensive treatment options. Q2 '26 Clear Aligner shipments reached a record 692,000 cases, increasing 7.4% year-over-year. Growth was broad-based across customer channels, patient segments and geographies, reflecting continued adoption of the Invisalign System and Benefits of our strategic initiatives to improve affordability, patient conversion, clinical confidence and practice productivity. Growth was supported by both increased doctor adoption and higher utilization. During the quarter, a record 89,200 doctors submitted Invisalign cases, up globally 3.4% year-over-year, while doctor utilization increased 3.8%, reflecting growth across all regions. Shipments to orthodontists increased 7.8% year-over-year and shipments to GP dentists increased 6.6%, demonstrating ongoing momentum across both customer channels. Regionally, growth was led by our international markets, EMEA and APAC, both delivered double-digit volume growth, driven by increased utilization across doctor channels and patient segments, while Latin America delivered record second quarter shipments supported by increased submitters and higher utilization. North America remained relatively stable overall with continued strength in orthodontic and DSO channels, helping to offset slower retail demand. Our growth initiatives continue to gain traction across orthodontists, GP dentists and DSO investments in financing, clinical support, workflow solutions and practice productivity tools are helping doctors increase utilization, improve patient conversion and expand access to treatment. Adoption of programs such as DSP, patient financing solutions and Comp Zero AA, which are designed to support practice growth while improving affordability and access to patients remain encouraging. For teens and growing patients, treatment starts increased 7.2% year-over-year to 240,000 Invisalign cases led by China, Japan, Turkey, India and Brazil. Continued adoption of Invisalign First, the Invisalign Palatal Expander and Invisalign MOAB, Mandibular Advancement with Occlusal Blocks, reflects greater doctor confidence in our growing patient portfolio and reinforces the significant long-term opportunity we see in these categories. We recently introduced 2 new capabilities across the Align Digital Platform designed to improve patient engagement, treatment planning and workflow efficiency. Together with the Invisalign Palatal Expander platform, integrated buttons, custom trim lines and specific 3D-printed attachments, these capabilities strengthen the connection between imaging, diagnostics, treatment planning and treatment delivery through a more integrated digital workflow. We featured these innovations this past weekend at the 2026 Invisalign Ortho Summit, our premier peer-to-peer clinical education event, where we brought together our innovations to life, demonstrating how we leverage software, visualization, digital treatment planning and 3D printing and workflow connectivity to explain clinical applicability, enhance practice productivity and strengthen customer engagement. Before turning to John, I'd like to briefly address the Strategic Initiatives press release we issued today regarding Elliott Management. As we've discussed over the past several quarters, we remain focused on strengthening execution, expanding profitability, advancing innovation and positioning Align to capitalize on the significant long-term opportunity we see in digital orthodontics and restorative dentistry. The initiatives announced today follow constructive discussions with Elliott are consistent with our objectives and build on work underway across the company. First, as part of our ongoing approach to Board refreshment and governance, we intend to add 3 new independent directors whose backgrounds will further strengthen the Board's expertise in areas, including health care technology, innovations, operations and scaling global businesses. We regularly evaluate these skills and experiences represented on the Board to ensure that they align with the evolving needs of our business, and these planned additions reflect that ongoing process. Second, we have initiated a comprehensive strategic and operating model review, supported by a leading global consulting firm to help us further enhance commercial execution, organizational effectiveness, scalability and optimizing resources as we enter our next phase of growth. Importantly, this work is focused on ensuring that we are positioned to capture the significant opportunities ahead while continuing to improve profitability and long-term value creation. Third, we increased our 2026 share repurchase commitment, reflecting both the Board's and management's confidence in Align's long-term strategy, competitive position and future cash-generating potential. Finally, we appreciate our discussions with Elliott and look forward to continuing our productive dialogue as we execute the initiatives outlined in the separate press release. The Board and management team remain fully aligned around our strategy, our growth opportunities and our commitment to creating long-term value for shareholders. Our strategy remains focused on digital orthodontics and restorative dentistry. We're excited for the opportunity to sharpen execution, improve operating leverage and enhance governance as we continue to pursue the significant growth opportunities. With that, I'll now turn it over to John.

Thanks, Joe. Now for more details on our Q2 results. Total revenues for the second quarter were $1,056.2 million, up 4.3% from the corresponding quarter a year ago, in line with our Q2 expectations. On a constant currency basis, Q2 revenues were favorably impacted by approximately $12.5 million year-over-year or approximately 1.2%. Q2 Clear Aligner revenues were $870.9 million, up 8.2% year-over-year, primarily due to higher volume, price increases, lower net deferrals and favorable foreign exchange, partially offset by mix shift to lower-priced countries and products and higher discounts. Favorable foreign exchange impacted Q2 Clear Aligner revenues by approximately $10.6 million or approximately 1.2% year-over-year. Q2 Clear Aligner average per case shipment price of $1,260 increased 0.8% or $10 per case on a year-over-year basis, primarily due to price increases, lower net deferrals, favorable foreign exchange, partially offset by mix shift to lower-priced countries and products and higher discounts. Q2 Systems and Services revenues of $185.3 million were down 10.8% year-over-year. As Joe discussed, reported revenue was meaningfully affected by the ongoing and strategic evolution of our scanner business model, including greater adoption of lower-cost system configurations and a growing mix of leases and rentals relative to upfront purchases. These options lower the initial cost for customers and are helping us expand patient access to digital diagnostic, restorative and orthodontic treatment through iTero scanners, Invisalign Clear Aligners and the Align Digital Platform. During the quarter, placements to new doctors reached a record level and increased double digits year-over-year, while our active scanner installed base grew approximately 11% year-over-year. The growing adoption of lower-priced scanner configurations, including leasing and rental programs, reflects our commitment to expanding customer choice and increasing access to digital dental workflows. By offering a broader range of acquisition options, we are enabling more practices to participate in digital orthodontic and restorative care. This is intentional. As the installed base grows, we create opportunities to expand the funnel for orthodontic and restorative treatment, which is better for patients and doctors and carries higher margin and recurring revenue. We are giving up certain economics at the point of sale to expand patient access to treatment, giving doctors the tools they need to provide the treatment and increase volumes and revenues on the back end. Q2 Systems and Services revenues reflected lower system ASPs, driven in part by increased adoption of lower-cost configurations and lower scanner wand sales, partially offset by higher systems volume, higher nonsystem sales and favorable foreign exchange. Foreign exchange favorably impacted Q2 Systems and Services revenues by approximately $1.9 million year-over-year or approximately 1%. Moving on to gross margin. Second quarter overall gross margin was 71.7%, up 1.8 points year-over-year, primarily due to operational efficiencies, tariff refund and higher Clear Aligner ASPs. Q2 overall gross margin was unfavorably impacted by foreign exchange of 0.8 points year-over-year. On a non-GAAP basis, which excludes stock-based compensation, amortization of intangibles related to certain acquisitions, depreciation expense on assets disposed of other than by sale, restructuring and other non-GAAP charges, gross margin for the second quarter was 72.3%, up 1.8 points year-over-year or up approximately 2.6 points at constant currency. Clear Aligner gross margin for the second quarter was 71.4%, up 1.3 points year-over-year, primarily due to higher ASPs and operational efficiencies, partially offset by higher freight costs. Q2 Clear Aligner gross margin was impacted by unfavorable foreign exchange of approximately 0.8 points year-over-year. Margin expansion is increasingly driven by lower refinement rates, improved treatment predictability and higher manufacturing throughput. The result of Align's intentional investment in a data, software and manufacturing-driven flywheel that compounds with scale. Many of our lower-priced product configurations, such as Comp 3-in-3 and DSP Touch-Up, include fewer or no additional aligners and require less manufacturing costs, supporting gross margins and improving cash conversion despite lower upfront pricing. The clinical versatility of the Invisalign System allows us to offer configurations such as Zero AA products, enabling doctors to expand Invisalign adoption while meeting patient expectations. These offerings enhance our ability to compete against traditional wires and brackets and lower-priced Clear Aligner alternatives while allowing us to address a broader range of case complexity and price points without compromising long-term unit economics. Systems and Services gross margin for the second quarter was 73.3%, up 3.9 points year-over-year, primarily due to operational efficiencies and tariff refund, partially offset by lower ASPs. On a year-over-year basis, Q2 Systems and Services gross margin was unfavorably impacted from foreign exchange by approximately 0.6 points year-over-year. Q2 operating expenses were $603.4 million, up 10.7% year-over-year. Year-over-year operating expenses increased by $58.3 million, primarily due to U.K. VAT accrual and higher employee compensation. On a non-GAAP basis, excluding stock-based compensation, legal settlements and contingencies, restructuring and other charges and amortization of acquired intangibles related to certain acquisitions, Q2 '26 non-GAAP operating expenses were $521.5 million, up 4.8% year-over-year. Our second quarter operating income of $154 million resulted in an operating margin of 14.6%, down approximately 1.5 points year-over-year. Operating margin was unfavorably impacted from foreign exchange by approximately 1.4 points year-over-year. On a non-GAAP basis, which excludes stock-based compensation, legal settlements and contingencies, restructuring and other charges and amortization of acquired intangibles related to certain acquisitions, operating margin for the second quarter was 22.9%, up 1.6 points year-over-year or approximately 3.1 points at constant currency. The Q2 '26 GAAP effective tax rate was 27.2% compared to 28.2% in the second quarter of 2025. The second quarter GAAP effective tax rate was lower than the second quarter effective tax rate of the prior year primarily due to increased earnings in low tax jurisdictions. Our Q2 '26 non-GAAP effective tax rate was 20%, which reflects our long-term projected tax rate. Second quarter net income per diluted share was $1.51, down $0.20 compared to the prior year. On a non-GAAP basis, net income per diluted share was $2.64 for the second quarter, up 6% year-over-year. Our GAAP and non-GAAP EPS was unfavorably impacted by $0.23 on a year-over-year basis due to foreign exchange. We continue to maintain a strong balance sheet and healthy free cash flow, providing flexibility to invest in innovation, support customers and return capital to shareholders. As of June 30, 2026, cash and cash equivalents were $1,102.6 million, up $201.4 million year-over-year. Of the $1,102.6 million balance, $241.1 million was held in the U.S. and $861.5 million was held by our international entities. Align maintains a disciplined capital return program. During Q2 '26, we repurchased approximately 393,400 shares of our common stock at an average price of $169.45 per share for a total of $67 million. These purchases were made pursuant to the $200 million open market repurchase plan announced on April 29, 2026, which we expect to be completed in October of 2026. In connection with the expanded value creation initiatives announced today, we now intend to repurchase an aggregate of approximately $400 million to $500 million of our common stock during full year 2026, inclusive of the repurchase under the $200 million plan. As of June 30, 2026, $733.3 million remains available for repurchase of our common stock under our $1 billion stock repurchase program announced in April of 2025. Q2 accounts receivable balance was $1,148.4 million. Our overall days sales outstanding was 98 days, down 1 day as compared to Q2 of 2025. Cash flow from operations for the second quarter was $192.8 million. Capital expenditures for the second quarter were $35.7 million, primarily related to investments in our manufacturing capacity and facilities. Free cash flow, defined as cash flow from operations minus capital expenditures, amounted to $157.1 million. We continue to maintain a strong balance sheet and generate healthy cash flow, providing flexibility to invest in innovation, support customers and return value to shareholders. We remain focused on disciplined capital allocation and long-term value creation. In summary, our second quarter results reflect continued execution across the business. Solid Clear Aligner performance, disciplined expense management and operational improvements supported revenue growth in line with our outlook and non-GAAP operating margin above our expectations. Our growth initiatives continue to drive doctor adoption, utilization and patient conversion. While Q2 '26 Systems and Services revenue was below our original expectations, underlying scanner adoption remained healthy. And the reported lower revenues reflects lower price scanners and the transition toward lease and rental models that increased patient access to care by offering a broader range of purchasing options and increasing adoption of our digital scanning technology. This is a deliberate trade-off on our part. While this model may impact upfront economics and timing of revenue recognition, it enables us to serve more customers and to drive for higher margin treatment revenue and durable long-term growth. Stronger Clear Aligner revenue growth and ASP performance helped offset the near-term impact. Before I turn to our outlook, I want to provide an update on the U.K. VAT situation. Following the First-tier Tribunal's 2025 decision that Clear Aligners qualify as VAT-exempt dental prostheses, we stopped charging VAT to U.K. customers effective August 1, 2025. On July 7, 2026, the U.K. Upper Tribunal overturned that decision, determining that Clear Aligners do not qualify as VAT-exempt dental prostheses. We acknowledge the ruling and will comply with applicable law. Effective September 7, 2026, invoices will include U.K. VAT at 20% on applicable Invisalign aligners and Vivera retainers. Our list price remain unchanged. As a result of the ruling, we have recorded an estimated liability of approximately $37.5 million, inclusive of interest. We intend to appeal, though the ultimate resolution remains subject to uncertainty. Now turning to Q3 and fiscal '26 business outlook. Assuming no circumstances occur beyond our control, such as foreign exchange, macroeconomic condition, an extended war and changes to currently applicable duties, including tariffs or other fees that could impact our business. We expect Q3 '26 worldwide revenues to be in the range of $1 billion to $1.020 billion, down sequentially from Q2 of '26. We expect Q3 '26 Clear Aligner volume to be up mid-single digits year-over-year and Q3 '26 Clear Aligner ASPs to be down sequentially from geographic mix and foreign exchange. We expect Q3 '26 Systems and Services revenue to be down sequentially and year-over-year because of Q3 seasonality, alongside a continued mix shift towards lower-priced scanners and flexible acquisition models, including leasing and rental units and certified preowned offerings. We expect Q3 '26 worldwide GAAP gross margin to be 67.5% to 68.5%, down sequentially approximately by 3 to 4 points due to the incurrence of onetime charges expected to be approximately $20 million to $30 million, primarily for accelerated depreciation and restructuring and other charges in Q3 of '26. We expect Q3 non-GAAP gross margin to be approximately 71%, down sequentially from lower ASPs, consistent with typical Q3 quarter-over-quarter trends. We expect Q3 '26 GAAP operating margin to be between 13.5% and 15% due to the incurrence of onetime charges expected to be approximately $35 million to $50 million primarily for restructuring and other charges and accelerated depreciation in Q3 of '26. We expect Q3 '26 non-GAAP operating margin to be approximately 24%. For fiscal 2026, we continue to expect 2026 worldwide revenue growth to be up 3% to 4% year-over-year. Our full year 2026 revenue guidance continues to assume a benefit from foreign exchange that is consistent with the assumptions underlying our initial full year outlook. We expect the effect of foreign exchange to moderate in the remaining quarters, trending towards the full year assumption of approximately 100 basis points. We now expect 2026 Clear Aligner volume growth to be up approximately 6% year-over-year and 2026 Clear Aligner ASP to be flat to slightly down from 2025. We now expect 2026 Systems and Services revenue growth to be down 6% to 8% year-over-year as we anticipate a continued mix shift towards lower-priced scanners and more flexible acquisition models in the second half of '26. We expect our 2026 iTero scanner shipments to be up double digits year-over-year, reflecting continued customer adoption and scanner placements and helping to underpin our second half outlook for Invisalign volumes. We expect 2026 GAAP gross margin to be approximately 70.2% to 70.5%, up year-over-year by approximately 3 points due to the incurrence of onetime charges expected to be approximately $30 million to $40 million, primarily for accelerated depreciation, restructuring and other charges, partially offset by a gain on assets held for sale. We expect 2026 non-GAAP gross margin to be up approximately 100 basis points over 2025 non-GAAP gross margin. We expect 2026 GAAP operating margin to be approximately 15.1% to 15.6%, up year-over-year by approximately 2 points due to the incurrence of onetime charges expected to be approximately $90 million to $100 million, primarily related to restructuring and other charges, accelerated depreciation, legal settlements, partially offset by gain on assets held for sale. In Q2 '26, we recorded $38 million for Clear Aligner U.K. VAT liability. We expect 2026 non-GAAP operating margin to be approximately 23%, a 100 basis point improvement year-over-year, consistent with our previous guidance. We expect our investments in capital expenditures for fiscal 2026 to be $125 million to $150 million. Capital expenditures primarily relate to technology upgrades, additional manufacturing capacity as well as maintenance. We now expect to repurchase $400 million to $500 million of our common stock in 2026, reflecting the conviction of the Board and management in Align's long-term value. This includes the approximately $133 million of our common stock we expect to repurchase through October 2026. Before I hand it back to Joe, I want to provide some preliminary high-level framing for 2027, especially given the work we are doing to drive growth, cost discipline and margin expansion. To be clear, we are not issuing formal guidance for next year. It's too early, and our strategic and operating model review is still underway. However, we remain laser-focused on executing our strategic plan for profitable revenue growth across our 2 operating segments. Based on our continued progress and the initiatives we outlined in the Strategic Initiative press release today, we are comfortable targeting at least the same level of improvement in operating margin in fiscal 2027 on top of the approximately 100 basis points of operating margin improvement we reiterated for fiscal 2026. For fiscal 2027, we currently expect GAAP and non-GAAP operating margins to increase at least approximately 100 basis points year-over-year. We'll share more details after our strategic and operating model review is complete and in conjunction with formal 2027 guidance. With that, I'll turn it back over to Joe for closing comments. Joe?

Thanks, John. As we look at the first half of 2026, we're encouraged by the progress across the business. Through the first 6 months of the year, we delivered record Clear Aligner volumes, expanded doctor adoption and utilization, increased scanner placements, improved margins and continued to execute against our strategic priorities. Importantly, we achieved these results in an environment that remains uneven across markets and customer segments, reinforcing the strength of our global business. We saw strong momentum across APAC, EMEA and Latin America, despite the macroeconomic headwinds. North America remained relatively stable overall with continued strength in the DSO channel, helping to offset softer retail demand. That said, returning North America retail to consistent growth remains a top priority, and we're working to make that happen. The customer-focused initiatives we have been pursuing, financing solutions, DSP, clinical education and support and DSO collaboration are gaining traction and we're encouraged by the early results. As we enter the second half of 2026, we believe we are well positioned to build on this momentum. We are entering the important teen treatment season with one of the industry's most comprehensive digital treatment portfolios for growing patients and teens. At the same time, we continue to expand opportunities in adult treatment through innovations that connect oral health, restorative workflows and digital orthodontics, helping doctors incorporate Invisalign treatment into broader patient care discussion. Our innovation engine remains a key differentiator and has been central to our growth strategy. Business model innovation, patient financing, subscription programs such as DSP, no-AA offerings and digital workflow innovation are helping doctors improve patient conversion, increase utilization and grow their practices. Every digital workflow begins with a scan, making scanner adoption an important driver to increasing patient access to orthodontic care and long-term platform growth. As we continue to advance our innovation road map and direct fabrication technologies, we are creating more effective and personalized treatment solutions that improve clinical outcomes, enhance operating efficiency and strengthen the customer experience across orthodontics and restorative dentistry. Our focus remains unchanged: helping doctors treat more patients, expanding patient access to care and advancing digital orthodontics and digital dentistry globally. We remain realistic about the environment, but encouraged by our results and ability to address the significant opportunities ahead. Importantly, the combination of our global scale, strong international momentum, continued innovation and an increasing integrated digital platform uniquely positions Align to drive adoption of the Invisalign Clear Aligner and iTero Systems and Services, while creating long-term value for customers, partners, employees and shareholders. With that, I want to thank you for your time today. Now I'll turn the call back over to the operator for questions. Operator?