- Biolase Inc (NASDAQ:BIOL) shares are trading higher on strong volume after it reported Q2 sales of $9.1 million, +211% Y/Y, edging out a consensus of $8.31 million.
- Over 70% of U.S. laser sales came from new customers, continuing a positive trend, and more than 35% of U.S. Waterlase sales came from dental specialists.
- Net revenue was 6% higher than the pre-pandemic revenues during the second quarter of 2019.
- U.S. and international revenue increased 167% and 340%, respectively, as more dental practices were operating during Q2 than Q2 FY20 due to the pandemic.
- Laser system sales increased 424%. Consumables and other revenue increased 173%.
- The gross margin expanded to 44% from 32% a year ago due to higher revenue, favorable revenue mix, and higher average selling prices.
- During Q2, Biolase was able to break even compared to an EPS loss of $(0.12) a year ago. Cash and cash equivalents totaled $37.1 million.
- Biolase forecasts Q3 revenue to be significantly above Q3 FY20 despite the pent-up demand it experienced in last year’s Q3 as procedure volume dramatically improved from historically low levels in the 2020 second quarter.
- Price Action: BIOL shares are up 31.4% at $0.83 during the market session on the last check Friday.
AMC CEO Tweets ‘I’m so proud of @WarnerBros THE BATMAN. The biggest movie event of 2021 so far! Screenings today at AMC all around the U.S.! No, it’s not a movie about baseball. This is Robert Pattison starring in a timeless saga of the Caped Crusader….
https://twitter.com/CEOAdam/status/1499485932671676422
