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Here is why BIOLASE, Inc. (BIOL) share price rise in premarket trading?

BIOLASE, Inc. (BIOL) has seen an increase of 2.74% in the premarket today. However, the last trading session closed at $0.6521 with a decline of 3.18%.

BIOL and Healthy Smiles for Kids of Orange County (Healthy Smiles) Invite California Dental Community to Awareness Reception

BIOL announced on 14th September 2021 that they are hosting an awareness event for dental professionals in Orange County as part of their common aim to promote the oral health of children in the community.

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Moreover, the event will occur at the BIOLASE Learning Center, 27042 Towne Centre Dr, Foothill Ranch, Calif., on Sept. 24 from 5:00 p.m. to 7:00 p.m., and is open to all members of the dentistry community. In addition, guests will be able to hear from families who have been treated at Healthy Smiles, as well as clinicians who have utilized BIOLASE’s Waterlase dental lasers to change the dental experience one smile at a time. To celebrate the cooperation, BIOLASE will gift HSK with a new Waterlase i-Plus all-tissue laser at the ceremony.

Clinical Advisory Partnership with Leading Endodontist Dr. L. Stephen Buchanan

Dr. L. Stephen Buchanan, a global expert in endodontics, has announced a clinical advisory relationship that will assist extend laser usage and improve hands-on training programs.

For more than 30 years, Dr. Buchanan has lectured and conducted hands-on endodontic continuing education courses, both at DELabs, his state-of-the-art training facility in Santa Barbara, Calif., and at dental schools and symposiums across the world. Furthermore, he teaches endodontics at the Arthur A. Dugoni School of Dentistry at the University of the Pacific and the UCLA School of Dentistry on a part-time basis.

BIOL Expands Core Capabilities

BIOL announced the immediate appointment of three new board members to its Board of Directors on 16th August 2021. Firstly, Drs. Kathleen T. O’Loughlin, Carol Gomez Summerhays, and Martha Somerman join a Board that has played a key role in developing and implementing the Company’s business plan, which has seen substantial growth in recent quarters.

Secondly, their extensive experience in dental practice, translational and clinical research, and dental education will be extremely helpful as the company continues to execute the BIOLASE business plan. Thirdly, BIOL is thrilled to have each of these women join the board of directors, and the company looks forward to their contributions.

Second Quarter 2021 Financial Results

BIOL announced second-quarter 2021 financial results on 12th August 2021. The company’s net revenue increased by 211 percent to $9.1 million:

  • During the second quarter, net revenue was 6% higher than pre-pandemic levels.
  • Sales of laser systems grew by 424 percent.
  • Revenue from consumables and other sources grew by 173 percent.
  • Due to the COVID-19 epidemic, more dental offices were open in the second quarter of 2021. This resulted in revenue increases of 167 percent and 340 percent, respectively.
  • The gross margin increased by 1,200 basis points to 44 percent.
  • The net loss was $702,000 or $0.00 per share.
  • At quarter’s conclusion, cash and cash equivalents were $37.1 million, indicating a solid financial sheet.

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