The dental laser company released its second quarter financial results Aug. 10.
Seven notes on the company’s second quarter performance:
1. The company’s total revenue was 17 percent higher than the second quarter of 2022. It was also the highest quarterly revenue the company has seen since the fourth quarter of 2015.
2. Consumable sales hit $4.1 million, an increase of 36 percent year over year, which the company attributed to an increased use of its laser systems.
3. Sixty-nine percent of Biolase’s U.S. Waterlase sales came from new customers and approximately one-third came from dental specialists.
4. The company’s gross margin for the second quarter was 43 percent, compared to 42 percent for the second quarter of 2022.
5. Total operating expenses were $10 million, compared to $10.2 million for the second quarter of 2022.
6. Biolase’s operating loss was $3.9 million, compared to $5.1 million for the second quarter of 2022.
7. Biolase expects its revenue for the second half of 2023 to be 15 to 20 percent higher than the second half of 2022.
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