In 2024, the Company plans to:
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Grow total full-year 2024 revenue between 6% and 8% to between $52 million and $53 million through the
continued adoption of lasers and consumables by the dental community, including general dentists, dental specialists, dental hygienists, and group practice entities (DSOs) |
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Improve loss from operations by 50% to 60% for the full year 2024 |
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Achieve positive adjusted EBITDA results for the full year of 2024 (adjusted EBITDA is defined as net loss before
interest, taxes, depreciation and amortization, patent litigation settlements, stock-based and other non-cash compensation, and the change in allowance for doubtful accounts) |
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Broaden participation in BIOLASE dental and hygiene academies to expand awareness of the benefits of BIOLASE
lasers to patients |
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Expand its educational offerings through Education.Biolase.com, enabling dental clinicians to elevate their
standard of dental care and improve patient outcomes through laser technology |
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Increase the efficiency of our Waterlase Trial Program to drive increased adoption |
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Expand the DSO customer base and further penetrate the DSO market |
The Company will report its fourth quarter and full-year 2023 financial results in March 2024.
About BIOLASE
BIOLASE is a medical device company that
develops, manufactures, markets, and sells laser systems in dentistry and medicine. BIOLASE’s products advance the practice of dentistry and medicine for patients and healthcare professionals. As of December 31, 2023, BIOLASE’s
proprietary laser products incorporate approximately 241 patented and 21 patent-pending technologies designed to provide biologically and clinically superior performance with less pain and faster recovery times. BIOLASE’s innovative products
provide cutting-edge technology at competitive prices to deliver superior results for dentists and patients. BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex
surgical applications. From 1998 through December 31, 2023, BIOLASE has sold over 47,700 laser systems in over 80 countries around the world. Laser products under development address BIOLASE’s core dental market and other adjacent medical
and consumer applications.
For updates and information on Waterlase iPlus®, Waterlase Express™, and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc, Instagram at
www.instagram.com/waterlase_laserdentistry, and LinkedIn at www.linkedin.com/company/biolase.
BIOLASE®, Waterlase® and Waterlase iPlus® are registered trademarks of BIOLASE, Inc.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks
and uncertainties, including statements, regarding BIOLASE’s preliminary full-year 2023 unaudited revenue results, beliefs relating to BIOLASE’s ability to capitalize on the significant market opportunity for dental laser adoption through
its industry-leading dental lasers and broad intellectual property portfolio, expected 2024 revenue growth, anticipated decrease in loss from operations, anticipated operational and product milestones for 2024 and the expected effects,
BIOLASE’s ability to expand its educational offerings enabling dental clinicians to elevate their standard of dental care and improve patient outcomes through laser technology and BIOLASE’s plans for 2024. Forward-looking statements can be
identified through the use of words such as “may,” “might,” “will,” “intend,” “should,” “could,” “can,” “would,” “continue,” “expect,”
“believe,” “anticipate,” “estimate,” “predict,” “outlook,” “potential,” “plan,” “seek,” and similar expressions and variations or the negatives of these terms or other
comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE’s current expectations and speak only as of the date of this release. Among other things, there can be no
assurance that BIOLASE’s actual full-year 2023 financial and operating results will not differ, perhaps substantially, from the preliminary financial and operating results and expectations contained in this press release. In addition, BIOLASE
has not completed its fourth quarter and full-year 2023 closing and review process, and the final results for the full-year 2023 may differ, perhaps substantially, from the statements made in this press release. During