Exhibit 99.1

 

 

 

 

 

 

BIOLASE Reports 2018 Third Quarter and Nine-Month Results

 

- Third Quarter US Laser Revenue Increased 22% Year Over Year -

- Third Quarter Consumables and Other Revenue Increased 9% Year Over Year -

- Third Quarter Southern California Model Market Laser Revenue

Increased 127% Year Over Year -

- Conference Call Today at 10:30 AM ET -

 

IRVINE, Calif., Nov. 13, 2018

– BIOLASE, Inc. (NASDAQ: BIOL), the global leader in dental lasers, today reported a net revenue of $10.9 million for the third quarter which ended September 30, 2018. Excluding revenue from the Company’s non-core imaging business, net revenue in the third quarter of 2018 increased 9% compared to the third quarter of 2017.

 

Recent Operating Highlights

 

 

U.S. laser revenue for the third quarter increased 22% year over year

 

Consumables and other revenue for the third quarter increased 9% year over year

 

Southern California Model Market laser revenue for the third quarter increased 127% year over year

 

Launched second Model Market initiative in Dallas/Ft. Worth

 

Enhanced management leadership with addition of Todd Norbe as President and CEO and expanded Board expertise with the addition of Elaine Wagner, DDS, a renowned leader in the practice of pediatric dentistry

 

“Since joining BIOLASE in August, I have been impressed with the value of our technology and its ability to deliver on a new standard of care around dental procedures, which is being validated by a passionate and growing user community who have paved the way for further adoption through peer to peer referrals,” said Todd Norbe, President and CEO. “For the third quarter of 2018, our U.S. laser revenue increased 22% year over year, while our Southern California Model Market laser revenue increased 127% year over year in Q3 and 175% over the last two quarters, reflecting early success as we test different go-to-market approaches. Our leadership team recently dedicated one full week to focus on lessons learned to establish the appropriate key performance indicators and process improvements required to deliver on our goal to be EBITDA positive in the fourth quarter of 2019. We believe the combination of our recently announced SWK term loan, improved operational efficiencies and anticipated improvements in sales and margins will provide sufficient liquidity for the Company to execute its long term business plan and achieve the goal of becoming EBITDA positive.”

 


 


The following information was filed by Biolase, Inc (BIOL) on Tuesday, November 13, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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