Loading...
•
Jun 30, 2023
Biolase Q2 2023 Earnings Report
Reported record consumable sales as total second quarter revenue increased 17% year over year.
Key Takeaways
BIOLASE reported a 17% year-over-year increase in total revenue, reaching $14.3 million, the highest quarterly revenue since Q4 2015. Consumable sales also hit a record $4.1 million, up 36% year-over-year. The company is implementing cost-saving initiatives expected to result in $5 to $6 million in annualized savings beginning in Q3.
Total revenue increased by 17% year-over-year to $14.3 million, marking the highest quarterly revenue since Q4 2015.
Consumable sales reached a record $4.1 million, a 36% increase year-over-year.
Approximately 69% of U.S. Waterlase sales came from new customers, with about one-third from dental specialists.
Gross margin improved by 100 basis points to 43%.
Biolase
Biolase
Biolase Revenue by Segment
Revenue by Segment
US Laser Revenue
CapyFin.comInternational Laser Revenue
CapyFin.com Forward Guidance
BIOLASE expects revenue for the second half of the year to be 15-20% higher than the comparable period a year ago and expects to achieve positive adjusted EBITDA results for the second half of 2023.
Positive Outlook
- Revenue for the second half of the year is expected to be 15-20% higher than the comparable period a year ago.
- The company expects to achieve positive adjusted EBITDA results for the second half of 2023.
- Cost-saving initiatives are expected to result in additional annualized savings of $5 to $6 million beginning in the third quarter.
- Improving gross margins.
- Continued revenue growth.
Challenges Ahead
- Subject to market dynamics that include pressure on the finances of dentists.
- Continuing migration to dental service organizations.
- Still a challenging environment in international markets.
- Macroeconomic hurdles during the quarter.
- Uncertainty of customer acceptance of new product offerings and market changes
Revenue & Expenses
Visualization of income flow from segment revenue to net income