Biolase plans to reduce its U.S. workforce by 20 percent to improve operational efficiency.
Biolase President and CEO John Beaver said the cuts will allow the company to allocate additional resources to revenue-generating initiatives. The move will save the dental laser company approximately $4 million per year, according to a June 5 news release.
Biolase brought in $10.5 million in revenue during the first quarter of 2023, marking the ninth consecutive quarter of year-over-year growth. It also reported a 24 percent growth in year-over-year revenue for 2022.