12 Jan 2022
Dental laser specialist expects revenues in the closing quarter of 2021 to be up sharply on prior year and pre-pandemic figures.
Biolase, the California-based company that specializes in dental laser systems, says that its sales revenues for the final quarter of 2021 will be nearly 50 per cent higher than the sames period in 2020.
In a preliminary announcement of the latest financial results, Biolase says that it now expects to post a sales figure of between $12.2 million and $12.5 million for Q4 2021.
That is well above the firm’s previous guidance, which indicated that the figure would be higher than $10.2 million.
The new forecast would represent not only a sharp year-on-year increase, but a significantly higher sales total than the company had posted in the closing quarter of 2019 - just prior to the disruption caused by the novel coronavirus pandemic.
Commenting on the uptick, Biolase CEO John Beaver said that the jump in sales reflected rising demand in general, and increased adoption by new customers including general dentists and specialists.
“Over the past 12 months, we have formed specialist academies to expand the awareness of the benefits of our laser to dental specialists,” Beaver added. “Specifically, we have launched specialist academies for endodontists, periodontists, pediatric dentists, and dental hygienists to drive further adoption of our laser technology.”
Although Biolase has endured a difficult few years, the CEO is hopeful of seeing much greater adoption of lasers in the relatively untapped dental market - according to Beaver only 7 per cent of the dental sector in the US currently uses laser technology.
“With every one percentage point increase in adoption of laser technology, we estimate it can generate an additional $50 million in potential revenue for Biolase,” he stated.
Last year the company raised $14 million in funding to help finance new initiatives intended to increase the awareness and uptake of lasers in dentistry, while five different research studies sponsored by the firm are expected to be published in 2022.
Biolase also received a boost last week, with the US Food & Drugs Administration (FDA) clearing its new “EdgePRO” laser microfluidic irrigation device for use by endodontists - dentists specializing in the internal structures of teeth, for example root canal treatment.
The microfluidic irrigation device is intended for use with Biolase’s Er,Cr:YSGG laser technology, which operates at a wavelength of 2780 nm.
Biolase’s development partner EdgeEndo will now begin selling the EdgePRO product, with Beaver saying: “We're very pleased to complete our first OEM project, receive FDA 510(k) clearance, and deliver EdgePro units to EdgeEndo in only 12 months.”
Video: EdgePRO laser microfluidic irrigation for root canal treatment:
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