Biolase (BIOL) Rises 14% After Announcing Positive Momentum and Q4 Revenue Growth
Biolates (BIOL) a leader in dental lasers, jumped 14% for the day, after the Company announced positive momentum through the end of 2022 and signficant market opportunity.
Q4 2022 revenue is expected to be around $14 million, above Q4 2021 revenue of $12.4 million.
Additional highlights from 2022 are below:
- Full-year 2022 revenue is expected to be in the range of $48.4 million to $48.8 million, representing 24% to 25% growth over 2021
- The Company generated increased adoption of its industry-leading laser with approximately 84% of U.S. Waterlase sales in the fourth quarter and full-year 2022 coming from new customers
- The Company delivered an increased sales conversion rate throughout the year with the continued success of its Waterlase Exclusive Trial Program
Biolase could be a stock to watch in 2023.
BIOL is a member of the PRISM Medical Devices Index, which is up 1.7% for the day, led by Biolase’s performance.
About BIOLASE
BIOLASE is a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine. BIOLASE’s products advance the practice of dentistry and medicine for patients and healthcare professionals. BIOLASE’s proprietary laser products incorporate approximately 302 patented and 28 patent-pending technologies designed to provide biologically and clinically superior performance with less pain and faster recovery times. BIOLASE’s innovative products provide cutting-edge technology at competitive prices to deliver superior results for dentists and patients. BIOLASE’s principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. BIOLASE has sold over 43,300 laser systems from 1998 through December 31, 2021 in over 80 countries around the world. Laser products under development address BIOLASE’s core dental market and other adjacent medical and consumer applications.
