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- Biolase Inc BIOL reported a Q1 EPS loss of $(0.06), which missed the analyst consensus of $(0.05) loss, though it improved from a loss of $0.19 reported a year ago.
- Net revenue of $8.1 million beat the analyst consensus of $7.79 million and increase 70% Y/Y as Q1 2020 was impacted by the COVID-19 pandemic.
- U.S. laser revenue of $2.9 million increased 200% Y/Y, consumables and other revenue increased 50% Y/Y.
- International laser revenue increased 84% to $2.0 million, and consumables and other revenue were up 61%. Laser system sales increased 139% Y/Y.
- The gross margin expanded to 34% from 29% last year, reflecting the impact of the increase in revenues from the COVID-19 pandemic and increased average selling prices for products sold in the U.S.
- The company ended the quarter with $40.8 million in cash and cash equivalents.
- Guidance: Biolase sees Q2 sales of $7.5 million - $8.5 million versus the consensus of $8.28 million.
- Price Action: BIOL shares jump 29.3% at 0.75 during the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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