Biolase, Inc (BIOL) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Exhibit 99.1

BIOLASE Reports 2018 Fourth Quarter and Full Year Results

- Fourth Quarter U.S. Laser Revenue Increased 51% Year Over Year -

- Fourth Quarter U.S. Consumables and Other Revenue Increased 13% Year Over Year -

- 2018 Gross Margin Increased by nearly 1,500 Basis Points Year Over Year -

- Conference Call Today at 4:30pm ET / 1:30pm PT -

IRVINE, Calif., March 5, 2019

– BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today reported net revenue of $13.0 million and $46.2 million for the fourth quarter and year ended December 31, 2018, respectively. Excluding revenue from the Company’s non-core imaging business, net revenue for the fourth quarter and year ended December 31, 2018 increased 9% and 3%, respectively, on a year over year basis.

Fourth Quarter Highlights

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U.S. laser revenue increased 51% year over year

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U.S. consumables and other revenue increased 13% year over year

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Southern California model market laser revenue increased 600% year over year

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New customer growth, reduced expenses and a favorable change in product mix led to gross margin expansion of almost 1,500 basis points

“Our strong revenue results for the fourth quarter reflect solid execution of our go-to-market sales initiatives and our steadfast commitment to growing and expanding the adoption of our all tissue lasers throughout the dental industry,” commented Todd Norbe, President and Chief Executive Officer. “As a result, we are seeing increases in the adoption and utilization of BIOLASE’s all tissue lasers, including the better-than-expected early response to our model market initiatives in the Southern California and Dallas/Fort Worth markets. These ongoing efforts, combined with our focus on improving our efficiency, have enabled us to significantly improve our gross margin, which gives us increased confidence that we will achieve our goal of becoming EBITDA positive in the fourth quarter of 2019.”

2018 Fourth Quarter Financial Results

Net revenue for the three months ended December 31, 2018 was $13.0 million, an increase of 3%, compared to net revenue of $12.6 million for the three months ended December 31, 2017. Excluding the non-core imaging business, revenue for the fourth quarter of 2018 increased 9% to $12.7 million from $11.6 million for the fourth quarter of 2017. U.S. laser revenue was $5.6 million for the fourth quarter of 2018, a 51% increase compared to U.S. laser revenue of $3.7 million in the fourth quarter of 2017. U.S. consumables and other revenue from the fourth quarter of 2018, which consists of revenue from consumable products such as disposable tips, increased 13% compared to the fourth quarter of 2017.

The following information was filed by Biolase, Inc (BIOL) on Tuesday, March 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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