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Jun 30, 2020
Biolase Q2 2020 Earnings Report
Biolase's financial results for Q2 2020 were announced, revealing a decrease in revenue compared to the previous year, but highlighting the company's strategic positioning for future growth in a changing market.
Key Takeaways
Biolase reported a significant decrease in revenue for Q2 2020, primarily due to the impact of the COVID-19 pandemic. However, the company emphasized its products' alignment with new safety standards in dental practices and highlighted recent financing activities that bolstered its balance sheet.
Net revenue decreased by 66% compared to Q2 2019, totaling $2.9 million.
U.S. laser revenue declined by 72% year-over-year, reaching $0.8 million.
Gross margin was 32%, down from 39% in the same quarter last year.
Net loss was $4.7 million, or $0.12 per share, compared to a net loss of $3.9 million, or $0.18 per share, in Q2 2019.
Biolase
Biolase
Biolase Revenue by Segment
Revenue by Segment
US Laser Revenue
CapyFin.comInternational Laser Revenue
CapyFin.com Forward Guidance
BIOLASE believes that its current liquidity position and cost containment efforts provide it with sufficient capital to effectively execute on its growth strategy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income