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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, a leader in dental lasers, reported a 24% revenue increase to $48.5 million for 2022. U.S. laser sales surged by 39%, contributing significantly to this growth. The company's consumable sales grew by 25%, with 84% of U.S. Waterlase sales coming from new customers. Despite the positive results, gross margin decreased to 33% and operating losses widened to $25.3 million, up 54% from 2021. Looking forward, BIOLASE anticipates at least 25% revenue growth in 2023 and aims for positive adjusted EBITDA. The company ended 2022 with $4.2 million in cash, boosted by a January equity raise of $9 million.
BIOLASE, Inc. announced its annual Tequila & Tongue Ties Conference set for April 21-22, 2023, in Scottsdale, AZ. The event aims to educate dental professionals about tethered oral tissues (TOTs) impacting many newborns. Key opinion leaders will share insights on tongue-tie treatments and the use of the company's Waterlase all-tissue laser. The conference will provide hands-on experience and discussions on practice management. BIOLASE emphasizes its commitment to resolving dental issues to enhance patient care.
BIOLASE, Inc. (NASDAQ: BIOL) will release its fourth quarter and full year 2022 financial results on March 28, 2023, after U.S. market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss these results and related corporate developments. Investors can join the call by dialing 888-506-0062 from the U.S. or +1 973-528-0011 internationally, using earnings code 121864. An archived version of the call will be available on the BIOLASE Investor Relations Page along with a phone replay. BIOLASE is a leader in dental lasers, offering over 302 patented technologies for enhanced dental procedures.
BIOLASE (NASDAQ: BIOL) announces the launch of its second podcast season, Advancing Dentistry, following positive feedback from the dental community. The podcast aims to educate listeners about laser technology in dentistry, specifically the impact of Waterlase technology on patient outcomes. Hosted by Dr. Stephen John, season 2 will feature discussions with dental experts on various trending topics. The podcast will be available on Spotify and Apple Podcasts. The initiative reflects BIOLASE's commitment to advancing dentistry through education and innovation.
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