BIOLASE, Inc. (BIOL) is up 27.93% in the after-market trading session at the price of $0.81 after the release of the second quarter 2021 financial report. Constant high demand for dental lasers from new customers has improved revenue growth in the second quarter of 2021.
BIOL Second Quarter 2021 Earnings Report
On 12th August 2021, BIOL published its earnings report for the second quarter ended 30th June 2021 and presented third quarter 2021 revenue guidance. Net revenue for the Q2 of 2021 was $9.1 million, 211% higher than the net revenue of $2.9 million for the same quarter of 2020. The second quarter of 2020 was influenced most by the COVID-19 pandemic because many dental practitioners have been forced to suspend procedures. U.S. laser revenue was $3.3 million for the second quarter of 2021, up 299% compared to laser revenue of $0.8 million for the second quarter of 2020.
The operating loss reported for the second quarter of 2021 was $3.3 million. An operating loss of $4.0 million was recorded in the same quarter of 2020. Net loss for the second quarter of 2021 was $702,000 or $0.00 per share. A net loss of $4.7 million or $0.12 per share was reported for Q2 2020. The improvement in net loss for the quarter was affected by a $3.0 million gain due to the leniency in a Paycheck Protection Program loan.
CEO John Beaver remarked that their improved second-quarter performance was due to growing demand for their industry-leading dental lasers. They have enhanced focus on education and training of lasers and increased safety for dentists and patients. Moreover, they have published studies highlighting the improved results of their lasers to treat perio-disease.
Their focus on training and tutoring of dental specialists about the advantages of the lasers is already heading to increased demand across these vast and untapped markets. This potential has given them greater visibility into Q3. They are comfortable guiding anticipated YoY improvement across the key performance metrics, he added.
BIOLASE’s Waterlase Laser Technology
On 3rd June 2021, BIOL declared that recent data was published in two journals, the International Journal of Periodontics & Restorative Dentistry and Lasers in Medical Science. The data demonstrate that BIOLASE’s Waterlase Er, Cr: YSGG laser technology can be beneficial to treat peri-implantitis in patients experiencing the inflammatory disease. The findings disclosed that BIOLASE’s Waterlase technology is for those dentists seeking devices that can assist in periodontal treatments.
Similarly, data published in “Lasers in Medical Science” reveals that the Er, Cr: YSGG laser helps in reducing bacteria from zirconia discs. Besides, fibroblast attachments on the surfaces of the zirconia discs provide higher adherence when used with Er, Cr: YSGG laser technology. Consequently, the number of zirconia dental implants being installed across the world has increased significantly.
Pediatric Dental Laser Training
BIOLASE, on 18th May 2021, published that it has hosted a pediatric dental laser training on 8th May with Healthy Smiles for kids of Orange County. The training, held in the BIOLASE Learning Center in Foothill Ranch, focused on the use of Waterlase dental lasers for a variety of pediatric dental procedures. The audience wasgiven training on laser safety, laser-tissue interactions, corrective dentistry using minimal anesthesia, and pediatric methods with frenectomies for tongue-tie patients.
