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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, Inc. (NASDAQ: BIOL) announced a public offering of 16,453,569 shares and pre-funded warrants for 11,403,571 shares at $0.35 per share and $0.34 per warrant, respectively. The gross proceeds are expected to be approximately $9.75 million, to be utilized for working capital and general corporate purposes. The offering is anticipated to close on January 12, 2023. Lake Street Capital Markets, LLC serves as the lead manager for this offering.
BIOLASE, Inc. (NASDAQ: BIOL) is set to participate in the 11th Annual Benchmark Discovery One-on-One Investor Conference on December 1, 2022, in New York City. CEO John Beaver and CFO Jennifer Bright will conduct individual meetings with investors and analysts at the conference. The company is a leader in dental laser technology, having sold over 43,300 systems since 1998 in more than 80 countries. BIOLASE's innovative products feature 302 patented technologies designed to enhance dental procedures.
BIOLASE announced its Q3 2022 financial results, reporting a 26% increase in total revenue at $12.0 million compared to the previous year. U.S. laser sales surged 35%, and consumable sales rose 22%. The company noted that 90% of U.S. Waterlase sales came from new customers. Despite this growth, gross margin fell to 20% due to a $1.7 million inventory charge and increased operating expenses of $10.1 million, leading to a net loss of $8.4 million. Looking ahead, BIOLASE expects Q4 revenue to exceed $13 million, raising its full-year revenue guidance by at least 20%.
BIOLASE, Inc. (NASDAQ: BIOL) will announce its third quarter 2022 financial results on November 10, 2022, after U.S. markets close. A conference call is scheduled for the same day at 4:30 p.m. ET, where the company will discuss the results and ongoing developments. For participation, dial 888-506-0062 in the U.S. or +1 973-528-0011 internationally, using earnings code 720380. Biolase's innovative dental laser systems are instrumental in enhancing dental procedures worldwide.
BIOLASE, a leader in dental lasers, appointed Dr. Russell Morrow as Chief Dental Officer effective November 1, 2022. He brings over 15 years of dental experience, most recently serving at Heartland Dental, the largest DSO in the U.S. Dr. Morrow's expertise in laser technology aligns with BIOLASE's goal to increase laser adoption in dentistry. Former CDO Dr. Samuel Low transitions to Vice President, Clinical Strategic Alliances. BIOLASE aims to expand training operations and establish a Model Dental Office to further accelerate laser adoption among more than 150,000 general dentists.
BIOLASE, a leader in dental lasers, has launched a new Research Grant Portal to facilitate the global submission and evaluation of laser research projects. This initiative reflects BIOLASE's 30+ year commitment to enhancing laser technology in dentistry, supported by over 300 patents and numerous published studies. The portal aims to attract research proposals focused on pediatric dentistry, endodontics, and related fields, promoting minimally invasive laser technology and improving patient outcomes.
BIOLASE, a leader in dental lasers, announced on Sept 22, 2022, its collaboration with Providence Film Group to create a docuseries titled "Talk Dental to Me." Directed by Debbie Levin, the series aims to highlight the evolution of dental practices, showcasing BIOLASE’s innovative laser technology, known for its benefits like less pain and shorter procedures. Executives believe this partnership will enhance public awareness and position BIOLASE’s technology as the gold standard in modern dentistry.
BIOLASE (NASDAQ: BIOL) has unveiled a strategic plan to collaborate with postgraduate dental residency programs across North America to promote Waterlase technology. This initiative aims to hasten the adoption of dental lasers among new dentists, as there are approximately 700 postgraduate programs in the U.S. Currently in the early adoption phase, BIOLASE has already integrated its Waterlase lasers into various programs in 2022. The technology offers benefits like faster procedures and less invasive treatments, improving patient care and outcomes.
BIOLASE, Inc. (NASDAQ: BIOL) announces its participation in the Lake Street 6th Annual Best Ideas Growth Conference on September 14, 2022. The event will be held in New York City, where John Beaver, President and CEO, along with Jennifer Bright, CFO, will present to institutional investors and analysts. BIOLASE is a leading medical device company specializing in laser systems for dentistry, boasting over 43,300 sales globally. The company's innovations focus on enhancing dental practices through advanced technology.
BIOLASE reported strong financial results for Q2 2022, with total revenue of $12.2 million, up 34% year-over-year. U.S. laser sales surged 70% and consumable sales rose 42%. The company noted significant growth in new customers, with 80% of U.S. Waterlase sales attributed to them. However, the gross margin decreased to 42% from 44%, partly due to supply chain challenges. The net loss was $5.6 million, compared to a loss of $0.7 million in Q2 2021. Looking ahead, BIOLASE expects third quarter revenue to exceed $10.5 million, indicating at least 10% year-over-year growth.
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