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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) is hosting its inaugural Clinical Excellence Forum on June 10-11, 2022, in Costa Mesa, CA, featuring over 20 leading dental professionals from various specialties. The event aims to enhance the integration of laser technology into dental practice, promoting faster adoption and acceptance of lasers in dentistry worldwide. CEO John Beaver highlighted the importance of this collaboration for advancing dental care standards. The forum will cover training models, communication strategies, and innovative ways to improve patient care with laser technology.
BIOLASE, Inc. (NASDAQ: BIOL) has signed a lease agreement in Foothill Ranch, Lake Forest, California, for a new facility aimed at enhancing its training operations and establishing its first Model Dental Office (MDO). The approximately 7,700 square feet space will support growth and marketing objectives, with construction set to begin immediately and completion expected by the end of 2022. CEO John Beaver emphasized that this expansion aligns with the company's strategy to drive revenue and education around laser dentistry, enabling hands-on training for practitioners.
BIOLASE, a leader in dental lasers, announced its participation in the 2022 LD Micro Invitational investor conference on June 8, 2022, at 3:30 PM PST. CEO John Beaver will present to both live and virtual audiences. The conference runs from June 7-9, 2022, and aims to connect investors with innovative companies. BIOLASE develops and sells laser systems for various dental procedures, boasting over 43,300 systems sold globally to date. For more details, register to watch the presentation online.
BIOLASE (NASDAQ: BIOL) announced the formation of a Clinical Integration Team aimed at enhancing the adoption of its dental lasers across North America. This team comprises experienced dental professionals with 90 years of combined experience. The initiative focuses on providing effective mentorship and training to dental practices, facilitating real-time education, in-office training, and workshops. The move underscores BIOLASE's commitment to customer support and aims to capitalize on the growing demand for laser technology in dentistry.
BIOLASE (NASDAQ: BIOL) announced that CEO John Beaver is continuing the "CEO on the Go" initiative, aiming to gather feedback while promoting minimally invasive dentistry. This initiative involves visiting over 100 dentists globally, with 50 visits already completed as of May 2022. Beaver emphasized that over 70% of recent Waterlase sales were to new customers, showcasing the effectiveness of their education and training investments. BIOLASE is recognized for its patented dental laser technology, aimed at improving patient care and recovery times.
BIOLASE, a leader in dental lasers, announced its participation in the Spring Into Action Best Ideas Virtual Investor Conference from May 17-20, 2022. CEO John Beaver will present on May 17 at 1:00 PM PT. The event includes virtual one-on-one meetings on May 19-20. Interested investors can access the live presentation via BIOLASE's website. BIOLASE specializes in developing laser systems for dental and medical use, boasting over 43,300 laser systems sold in 80 countries.
BIOLASE, a leader in dental lasers, announced on May 16, 2022 that it regained compliance with the Nasdaq minimum bid price requirement.
Following a 1-for-25 reverse stock split on April 28, 2022, BIOLASE maintained a bid price above $1.00 for ten consecutive trading days, fulfilling Nasdaq's criteria. This compliance ensures continued listing on the Nasdaq Capital Market.
BIOLASE, Inc. reported a strong first quarter for 2022, achieving $10.2 million in total revenue, marking a 25% increase year-over-year. U.S. laser sales surged by 43% and consumable sales by 35%, driven by heightened procedures. Gross margin improved to 47%, up 13 percentage points, reflecting sales growth. The company maintained $22 million in cash while projecting $10.5 million for Q2, indicating at least 15% growth. BIOLASE emphasized the potential for further market expansion, with only 7%-8% of U.S. dentists currently utilizing dental lasers.
BIOLASE, Inc. (NASDAQ: BIOL) announced the election of Kenneth P. Yale, D.D.S., J.D. to its Board of Directors, effective April 28, 2022. Dr. Yale's extensive experience in healthcare leadership, including roles at Delta Dental and Aetna, is expected to support BIOLASE's business strategy. The board now has a majority of dentists, which will enhance clinical insights. Chairman Jonathan T. Lord highlighted Dr. Yale's potential contributions to align R&D efforts with market needs. BIOLASE focuses on developing innovative laser systems for dentistry, having sold over 43,300 systems across 80 countries.
BIOLASE, based in Foothill Ranch, Calif., will announce its first quarter 2022 financial results on May 12, 2022, after U.S. market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results and corporate updates. The call can be accessed by dialing 1-877-317-6789 in the U.S. or +1 412-317-6789 internationally. BIOLASE is a leader in dental lasers with over 43,300 systems sold across 80+ countries, continuously innovating to enhance dental procedures.
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