BIOLASE(US:BIOL)2022-05-16 01:47Company Overview - BIOLASE is a global leader in dental lasers, with over 43,000 laser systems sold in 80 countries[3,4] - The company possesses a large IP portfolio, including 301 issued and 32 pending patents, valued at $30 million[4,5] Market Opportunity & Growth Strategy - Only 7% to 8% of U.S dental practices currently incorporate all-tissue lasers, representing a significant growth opportunity[4,6] - Every additional 1% increase in U.S adoption of all-tissue lasers could generate over $50 million in new revenue for BIOLASE[4,10] - Targeted growth strategies focus on penetrating the DSO, pediatric, periodontics, endodontics, hygiene, and general practice markets[10] - Increased marketing, education, and training efforts are driving increased sales, with over 78% of U.S Waterlase sales in 2021 generated from new customers and over 40% coming from dental specialists[22] Clinical & Safety Advantages - Minimally invasive Waterlase REPAIR protocols achieve superior patient outcomes with equivalent clinical results to open flap techniques[12,16] - Waterlase dentistry uses 80% less water than traditional handpieces, reducing the risk of cross-contamination due to aerosol production[21] Financial Performance - Revenue increased 25% year-over-year to $10.2 million for the three months ended March 31, 2022[27,28] - Gross margin was 47%, up 12,700 basis points, due to higher revenue and average selling prices[27,28] - The company maintained a strong balance sheet with $22 million in cash and cash equivalents as of March 31, 2022[27,28]