Biolase sees $10.5M in Q1 revenue: 7 notes

Biolase brought in $10.5 million in revenue during the first quarter of 2023. 

The dental laser company released its first quarter financial report May 11. 

Here are seven notes on the company's financial performance during the first quarter of this year: 

1. The company's first quarter revenue marks the ninth consecutive quarter of year-over-year growth.

2. Biolase saw a 22 percent increase in international laser sales from the first quarter of last year.

3. The company's U.S. consumable sales increased by 19 percent year over year.

4. Fifty-eight percent of Biolase's U.S. Waterlase sales came from new customers and approximately 33 percent came from dental specialists. 

5. Total operating expenses were $8.6 million during the first quarter, compared to $8.9 million during the first quarter of last year. 

6. Biolase had cash and cash equivalents of approximately $6.5 million as of March 31.

7. The company anticipates its net revenue for the second quarter to increase by at least 25 percent year over year.

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