Expects Continued Revenue Growth in 2024 and Takes Steps to Further Improve Operating Efficiency as the Company Pursues Profitability Goals LAKE FOREST, Calif., Jan. 29, 2024 /PRNewswire/ -- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, announced preliminary unaudited revenue results for 2023 based on currently available information and expects to report year-over-year growth as it continues to generate interest among dental practitioners for its industry leading lasers. The Company is a ...

Robust Educational Courses Commence with an Advanced Mastery Course on February 2–3, 2024 LAKE FOREST, Calif., Jan. 8, 2024 /PRNewswire/ -- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, has experienced growing demand for its robust educational offering and as a result has increased the number of dental laser courses planned for the first quarter of 2024. The full list of both in-person and virtual course options offered can be found through BIOLASE'S education web portal at Education.Bio ...

LAKE FOREST, Calif., Jan. 3, 2024 /PRNewswire/ -- BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today announced that the Company has been awarded a Top Workplaces 2023 honor by the Inland News Group. This award is in addition to the Top Workplaces 2023 honor from the Orange County Register, previously announced. The awards are based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential surve ...

John Beaver Yes. I mean -- is it a matter now of like overhead absorption? Or are there any other types of cost savings you can achieve through supply chain, for example? John Beaver Thank you, Bruce. Nelson Cox Yes. So Nelson, I would expect gross margins next year in 2024 to be approaching that 50% level that, Jen, referenced in her remarks. I think as volume continues to go up, we could get to the mid-50s in 2025 and beyond. But certainly a target for next year will be as close to that 50% as we can get ...

4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36385 BIOLASE, INC. (Exact name of registrant as specified in its charter) Delaware 87-0442441 (State or other jurisdiction of incor ...

BIOLASE, Inc. (NASDAQ:BIOL) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET John Beaver - President & Chief Executive Officer Bruce Jackson - Benchmark Company I would now like to turn the conference over to Todd Kehrli of EVC Group. You may begin. Todd Kehrli - EVC Group Conference Call Participants Operator Todd Kehrli Before we begin, I'd like to remind everyone that a number of forward-looking statements, which are any statements that are not historical facts will be made during this present ...

6 BIOLASE, Inc. ("BIOLASE" and, together with its consolidated subsidiaries, the "Company") is a leading provider of advanced laser systems for the dental industry. The Company develops, manufactures, markets, and sells laser systems that provide significant benefits for dental practitioners and their patients. The Company's proprietary systems allow dentists, periodontists, endodontists, pediatric dentists, oral surgeons, and other dental specialists to perform a broad range of minimally invasive dental pr ...

Financial Data and Key Metrics Changes - The company reported net revenue of $10.5 million for Q1 2023, representing a 3% year-over-year growth, marking the ninth consecutive quarter of year-over-year growth [9][83] - GAAP net loss for the quarter was $5.8 million, compared to a net loss of $4.8 million in Q1 2022, while adjusted EBITDA loss was $4.4 million compared to $3.9 million in the same period last year [66][90] - Gross margin decreased to 32% from 49% a year ago, primarily due to supply chain issues and a higher percentage of revenue generated outside the US [90] Business Line Data and Key Metrics Changes - International laser sales increased by 22% year-over-year, indicating a return of international revenue growth [3][65] - Record consumable sales were reported, with US consumable sales up 19% year-over-year, driven by increased procedures using BIOLASE laser systems [3][9] - The success rate of the Waterlase exclusive trial program increased over 20% year-over-year to over 60% [32][87] Market Data and Key Metrics Changes - 58% of US Waterlase sales came from new customers, with approximately 33% of sales coming from dental specialists [65] - The company holds approximately 60% share of the worldwide all-tissue dental laser market [60] - The number of Marketing Qualified Leads (MQLs) increased by 400% to over 4,000 in the US in 2022, with a continued increase of nearly 50% in Q1 2023 [5][26] Company Strategy and Development Direction - The company aims to increase awareness of dental lasers among the majority of the market that is not currently using them, focusing on education and training to drive growth [4][27] - A three-pronged strategy is in place to increase market adoption, targeting dental specialists, corporate dentists, and universities [28][30] - The company plans to leverage its brand and grow the overall market by engaging with the remaining 90% of dentists [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year revenue growth of at least 25% and positive adjusted EBITDA for 2023 [84][92] - The company expects to see improved gross margins due to in-house production of trunk fiber, which is projected to account for approximately 50% of requirements [91][92] - Management noted that while the economic environment is challenging, the sales cycle has not significantly impacted overall sales [46][49] Other Important Information - The company completed an acquisition of a trunk fiber supplier, which is expected to reduce backlog and overall costs [10] - A new training facility has been opened to enhance education and training efforts, which is expected to drive revenue and laser adoption [63][102] Q&A Session Summary Question: How have supply chain constraints impacted the company? - Management acknowledged supply chain issues but noted that transitioning to in-house fiber production is expected to alleviate these constraints [18][19] Question: What is the outlook for gross margins moving forward? - Management indicated that in-house production will reduce costs and improve quality, leading to better gross margins in the future [74][90] Question: How many WETP events will be held in-house versus on the road? - The company plans to host about 35 WETP events this year, with some being held at the new training facility [102][103] Question: What is the current backlog situation? - Management stated that there is minimal backlog currently, with shipping on schedule [106][107]

Not applicable. ITEM 4. CONTROLS AND PROCEDURES Disclosure Controls and Procedures Our management has evaluated, with the participation of our President and Chief Executive Officer and our Chief Financial Officer, the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on that evaluation, our President and Chief Executive Officer and Chief Financial Officer have conclu ...

Financial Data and Key Metrics Changes - Total revenue for 2022 was $48.5 million, representing a 24% increase year-over-year [7][37] - U.S. laser sales increased by 39% year-over-year to $20.4 million, while U.S. consumables sales increased by 25% to $7.5 million [37] - Adjusted EBITDA loss for 2022 was $20.1 million, compared to a loss of $14.7 million in 2021 [40] - GAAP net loss for 2022 was $28.6 million, compared to a net loss of $16.2 million in 2021 [57] Business Line Data and Key Metrics Changes - The success rate of the Waterlase exclusive trial program improved to nearly 50% in 2022, with expectations to reach 60% in 2023 [22][74] - 84% of U.S. Waterlase sales in 2022 came from new customers, with 47% from dental specialists [55] - Record-breaking consumable sales in 2022 were driven by an increase in procedures using BIOLASE lasers [37] Market Data and Key Metrics Changes - Less than 10% of dentists in the U.S. and less than 2% outside the U.S. currently use dental lasers, indicating significant market growth potential [9] - The number of marketing qualified leads (MQLs) in the U.S. increased by 400% compared to 2018, growing from less than 1,000 to 4,000 in 2022 [10] Company Strategy and Development Direction - The company plans to combine specialist academies into two academies for its product families, aiming to enhance education and training [26] - A focus on increasing education and training for dental specialists is expected to drive higher demand for BIOLASE products [13] - The company aims to leverage its brand to engage with the remaining 90% of dentists who do not currently use dental lasers [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving at least 25% revenue growth in 2023, despite a slower start [43][86] - The recent banking environment has created uncertainty, but management believes it will be short-lived [61] - The company expects to achieve positive adjusted EBITDA for the full year 2023 [43][60] Other Important Information - The gross margin for 2022 was 33%, down from 42% in the previous year, primarily due to supply chain issues [38] - The company completed an acquisition of a trunk fiber supplier, which is expected to reduce costs and improve cash flow [56][59] Q&A Session Summary Question: What is the expected gross margin progression for 2023? - Management expects to approach 50% gross margins by the fourth quarter of next year, with improvements from in-house production and reduced training costs [62] Question: Can you provide more details on the growth guidance and revenue split? - Management anticipates gradual revenue growth in Q2 and Q3, with a similar revenue split among systems, services, and consumables [48][65] Question: How is the Heartland study progressing? - The trial with Heartland showed positive results, with lasers being paid off in four to seven months through additional procedures [63][82] Question: Have there been any financing issues due to recent banking events? - There has been no significant pullback in financing for dentists, although market sentiment has affected some sales [66][104] Question: What is the reception of the new fractional handpiece? - The reception has been positive, with many inquiries from dentists, and it is expected to provide a recurring revenue stream [99]