Biolase 2015 Revenue Reaches $48.5M
IRVINE, Calif., April 7, 2016 — Medical and dental laser company Biolase Inc. has reported net revenue for the year ended Dec. 31, 2015, of $48.5 million, as compared to net revenue of $47.7 million for fiscal 2014.
The company said the year-over-year increase of 1.7 percent resulted from a $3.2 million increase in worldwide laser sales, $2.7 million of which related to the WaterLase iPlus system. This increase was partially offset by a $2 million decline in imaging sales and a $746 thousand decline in services revenue associated with the third quarter 2014 change in accounting estimate which the company previously reported.
Biolase’s gross profit as a percentage of net revenue for 2015 year was 32.9 percent, as compared to 38.1 percent for 2014 year. The year-over-year decline was largely attributable to increased bundling and other similar promotional arrangements related to the launch of the EPIC X and WaterLase iPlus 2.0 during 2015, the company said. Biolase also reported a larger mix of international sales throughout 2015, which typically have lower product margins due to lower pricing.
Biolase develops, manufactures, markets and sells laser systems in dentistry and medicine, and also markets, sells, and distributes dental imaging equipment. The company's proprietary laser products incorporate approximately 340 patented and 90 patent-pending technologies.