Five notes:
1. Net revenue for the fourth quarter was $13 million, a 3 percent increase compared to the same quarter the year prior. Excluding a noncore imaging business, revenue for the quarter spiked 9 percent year over year to $12.7 million.
2. Biolase reported U.S. laser revenue was also up 51 percent year over year in the fourth quarter, exceed $5.6 million. Additionally, U.S. consumables revenue, such as disposable tips, jumped 13 percent compared to the fourth quarter of 2017.
3. For the full year, Biolase generated $46.2 million in revenue, a slight decrease (2 percent) year over year. Excluding the company’s noncore imaging business, Biolase posted $44.5 million in revenue, a 3 percent increase year over year.
4. Biolase also saw consumable products revenue increase 13 percent in 2018 compared to 2017.
5. Gross margin for the year was 37 percent, a nearly 500-point increase compared to the year prior. Biolase ended the year with $8.3 million in cash, cash equivalents and restricted cash.
To read the full report, click here.
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