Biolase up on higher prelim Q4 and full-year revenue

November 26

18/01/2023 11:26

** Shares of medical device maker Biolase Inc  BIOL.O  up
7.8% at $0.55 premarket
    ** Co sees Q4 prelim revenue to be between $14.0 mln -$14.4
mln, a 13% to 16% increase vs $12.4 mln in Q4 of 2021; also
above analysts' view of $13.2 mln in the quarter - Refinitiv
data
    ** BIOL expects FY 2022 revenue to be in the range of $48.4
mln to $48.mln, beating analysts anticipated $47.6 mln 
    ** Co says it delivered increased sales conversion rate
throughout the year with the continued success of its tissue 
dental lasers trial 
    ** Anticipates to grow total FY 2023 revenue by at least 25%
through continued adoption of lasers and consumables in the
dental market and achieve positive Adj. EBITDA results  
    ** BIOL stock lost ~93% in the past twelve months
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))