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Sep 30, 2021
Biolase Q3 2021 Earnings Report
Reported a strong third quarter with significant revenue growth and improved gross margin, driven by rising demand for dental lasers.
Key Takeaways
BIOLASE reported a 46% increase in net revenue to $9.5 million for the third quarter of 2021, driven by strong demand for dental lasers. Gross margin improved to 51%, and the company maintained a strong cash position of $33.4 million.
Net revenue grew 46% to $9.5 million, surpassing pre-pandemic levels from Q3 2019 by 10%.
Laser system sales increased by 64%, indicating strong demand for BIOLASE's core products.
Gross margin improved significantly to 51%, up 1,600 basis points year-over-year, driven by higher revenue and favorable product mix.
U.S. and international revenue increased by 25% and 101%, respectively, reflecting recovery in dental practices.
Biolase
Biolase
Biolase Revenue by Segment
Revenue by Segment
US Laser Revenue
CapyFin.com Forward Guidance
The company expects significant year-over-year improvement across key performance metrics, including revenue and gross margin in the fourth quarter, and forecasts Q4 2021 revenue to be above the pre-pandemic revenue in Q4 2019 of $10.2 million.
Positive Outlook
- High demand for dental lasers.
- Significant year-over-year improvement across key performance metrics.
- Revenue expected to be above pre-pandemic levels.
- Increased adoption across large and largely untapped markets.
- BIOLASE lasers provide increased safety to dentists and their patients.