Welcome to our dedicated page for BIOLASE news (Ticker: BIOL), a resource for investors and traders seeking the latest updates and insights on BIOLASE stock.
Biolase, Inc. (NASDAQ: BIOL) is a leading medical device company specializing in the development, manufacturing, marketing, and sales of advanced laser systems used in dentistry and medicine. Based in the United States, the company is recognized globally for its innovative dental laser technologies that enhance dental care by enabling clinicians to perform a wide range of minimally invasive procedures, reducing patient pain, fear, and anxiety typically associated with dental treatments.
Biolase’s flagship products are categorized into two primary groups: Waterlase (all-tissue) systems and Diode (soft-tissue) systems. These products cater to various dental professionals, including general dentists, periodontists, endodontists, and oral surgeons, allowing them to execute procedures ranging from simple restorations to complex surgical interventions. The company’s revenue is predominantly derived from the U.S. market, but its impact is felt worldwide, having sold over 47,700 laser systems across more than 80 countries.
In recent developments, Biolase has expanded its educational initiatives, recognizing the growing demand for knowledge in dental laser technologies. The company launched new courses through its Education.Biolase.com portal, offering both in-person and virtual training through the Waterlase Academy and Epic Diode Academy. This educational expansion includes specialized courses in endodontics, periodontics, pediatric dentistry, and facial esthetics. Notably, Biolase unveiled the Waterlase iPlus Premier Edition at the Chicago Midwinter Meeting 2024, which represents a significant innovation in all-tissue laser systems.
Financially, Biolase has shown resilience amidst challenging market conditions. For the year ending December 31, 2023, the company reported net revenues of $49.2 million, a slight increase compared to the previous year. Despite a decrease in U.S. laser sales, the company saw a 31% increase in U.S. consumables and other revenue. The company is actively optimizing its operations and has undertaken cost-reduction measures, including a workforce reduction projected to save approximately $2.5 million annually.
Looking ahead, Biolase continues to focus on driving the adoption of its dental laser systems and expanding its educational offerings. The company aims to achieve long-term growth and profitability through strategic initiatives and product innovations. For further updates and information, visit www.biolase.com or follow Biolase on various social media platforms.
BIOLASE, Inc. (NASDAQ: BIOL) announced it received a 180-day extension from Nasdaq to comply with the minimum bid price requirement, now due by May 23, 2022. The company must close at or above $1.00 for 10 consecutive trading days to regain compliance. Additionally, BIOLASE amended its senior secured term loan with SWK Funding LLC, extending the maturity to May 31, 2025, and reducing the interest rate by 200 basis points. CEO John Beaver highlighted this extension as an opportunity to demonstrate growth, while a SWK Holdings CEO noted strong operating traction and market acceptance of BIOLASE's dental lasers.
BIOLASE, Inc. (NASDAQ: BIOL), a leader in dental laser technology, announced its participation in the Benchmark Company Discovery One-on-One Virtual Investor Conference on December 2, 2021. The event will run from 8:00 a.m. to 4:30 p.m. Eastern Time and will include opportunities for individual meetings with investors. BIOLASE develops advanced laser systems used in dentistry, with over 41,200 systems sold globally. The conference is expected to attract more than 150 institutional investors and around 50 presenting companies.
BIOLASE, Inc. (NASDAQ: BIOL) is urging stockholders to vote in favor of a reverse stock split at the upcoming special meeting on November 19, 2021. The amendment aims to maintain the company's listing on The Nasdaq Capital Market and attract institutional investors. The board recommends approval to enhance liquidity, offer equity compensation, and ensure shares are available for future use. Leading proxy advisory firms, including Institutional Shareholder Services and Glass, Lewis & Co., have endorsed this proposal.
BIOLASE, Inc. (NASDAQ: BIOL) reported a 46% increase in net revenue for Q3 2021, totaling $9.5 million. A strong trend continued with 78% of U.S. laser sales from new customers. Laser system sales rose 64%, while consumables revenue grew 21%. Gross margin improved significantly to 51%, up 1,600 basis points. International revenue surged 101%. The company maintains a solid balance sheet with $33.4 million in cash. BIOLASE forecasts Q4 revenue to exceed pre-pandemic figures from 2019.
BIOLASE, Inc. (NASDAQ: BIOL) has launched the Epic Hygiene Academy, aiming to enhance dental hygiene education and patient care through laser technology. This program, available for BIOLASE diode laser users, focuses on empowering hygienists with advanced skills and resources, fostering superior preventive and therapeutic care. The academy will feature mentorship, interactive case reviews, and educational resources. Additionally, BIOLASE is donating an Epic Hygiene laser to Greenville Technical College, emphasizing its commitment to training future hygienists.
BIOLASE, Inc. (NASDAQ: BIOL) will release its third quarter 2021 financial and operating results on November 10, 2021, after U.S. financial markets close. A conference call and webcast will be held at 4:30 p.m. ET to discuss the results and corporate developments. Participants can join via dial-in numbers: (800) 367-2403 for U.S./Canada and (334) 777-6978 internationally, using Conference ID 3599686. The live webcast and an audio archive will be available on the BIOLASE Investor Events Page.
BIOLASE, Inc. (NASDAQ: BIOL) is urging stockholders to vote 'FOR' a proposed reverse stock split at a special meeting on November 19, 2021. This action aims to maintain compliance with Nasdaq's minimum bid price requirement of $1.00 per share, following a deficiency notification received earlier this year. A successful vote could help attract institutional investors, increase trading liquidity, and enable equity compensation for employees. The reverse stock split will not affect stockholders' percentage ownership.
BIOLASE, Inc. (NASDAQ: BIOL) announces an upcoming Q&A session for investors regarding a special meeting of stockholders on November 19, 2021, at 10:00 am PT. The company will utilize Say Technologies to facilitate investor questions prior to a webcast on October 25, 2021, at 1:00 pm PT. Investors holding BIOL stock as of October 1, 2021, can submit questions until October 19, 2021. More details can be found on BIOLASE's investor page.
BIOLASE, Inc. (NASDAQ: BIOL) and Healthy Smiles for Kids of Orange County are hosting an awareness reception on Sept. 24, from 5:00 p.m. - 7:00 p.m. at the BIOLASE Learning Center in Foothill Ranch, California. The event aims to enhance children's oral health in the community. Attendees can hear testimonials from families and providers utilizing BIOLASE's Waterlase dental lasers. The partnership also includes a donation of a Waterlase i-Plus laser to Healthy Smiles, which has served around 1 million children since its inception.
BIOLASE, Inc. (NASDAQ: BIOL) announced its schedule for investor conferences in September 2021. Key events include one-on-one meetings at the Colliers 2021 Institutional Conference on September 9 and a formal presentation at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, with the presentation available on September 13 at 7:00 am ET. The company's leadership, including CEO John Beaver and VP of Finance Jennifer Bright, will participate in virtual meetings with institutional investors. More details can be found on BIOLASE's investor relations website.
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