BIOLASE, Inc.

BIOLASE did not state quarterly revenue or EPS on the call, but it did report that adjusted EBITDA loss improved 21% to $3.5 million from $4.4 million in the prior-year first quarter. Total operating expenses were $7.9 million versus $8.6 million a year ago, and gross margin was described as relatively flat year over year but improved by 1% of net revenue due to lower warranty expense and in-house trunk fiber manufacturing, partly offset by severance. Cash and cash equivalents were $6.4 million at quarter-end. For full-year 2024, management reiterated revenue growth of 6% to 8% to $52 million to $53 million and continued to expect positive adjusted EBITDA for the year.

John Beaver framed the quarter around adoption of dental lasers and long-term market expansion, saying the company’s goal is to accelerate the adoption curve toward lasers becoming the gold standard of dental care. He highlighted that more than 90% of dentists still have not embraced all-tissue laser technology, while BIOLASE already has about 60% global market share under the Waterlase brand. His tone was optimistic but realistic, emphasizing that education, training, and marketing efforts are gradually converting awareness into sales, even though adoption remains slow.

Jennifer Bright focused on execution, margin improvement, and cost discipline. She said gross margin improved by 1% of net revenue from lower warranty expenses and the in-house trunk fiber transition, and noted all trunk fiber shipped in 2024 will be in-house manufactured. She also cited total operating expenses of $7.9 million, expected annualized cost savings of about $5 million to $6 million, cash and equivalents of $6.4 million, and reiterated that these actions support full-year 2024 positive adjusted EBITDA and revenue of $52 million to $53 million.

Analysts asked whether revenue should rise sequentially in Q2, and John Beaver said yes, noting the historical quarter ranking of Q4, Q2, Q3, then Q1. He was also asked about whether the McGuire study’s positive radiographic data was helping with DSOs; he said it has helped continue conversations, but that the study alone will not drive purchases, and that patient acceptance and case acceptance are the real financial benefits. On the macro backdrop, Beaver said dentists appear about the same or less concerned than before, and decision times for Waterlase purchases have stayed elevated but roughly stable since the first-half 2023 increase.