BIOLASE, Inc (BIOL) Stock Price, News, Quote & History
Leading supplier of dental lasers BIOLASE, Inc. (BIOL) in Irvine, California, has sold more than 41,200 laser systems in 90 countries around the world. Its revenues increased by almost 46% in the last reported quarter. The company said on November 10 that it will likely continue to experience high demand for dental lasers in the fourth quarter. Its fourth-quarter revenue is also expected to exceed $ 10.20 million in pre-pandemic revenue in the fourth quarter of fiscal 2019.
BIOL shares rose in price on November 24, 2021, after NASDAQ admitted the company to May 23, 2022 to regain compliance with the exchange's minimum bid price requirement.
However, the share price fell 27.9% in the last three months and 35.3% in the last six months to close yesterday's trading session at $ 0.44. BIOL has suddenly canceled its special shareholder meeting, originally scheduled for November 19, 2021, to discuss a potential reverse stock split. So BIOL's short term outlook seems uncertain.
Here's what could impact BIOL's results in the near term:
Positive events
BIOL announced its Clinical Advisory Partnership with Dr. L. Stephen Buchanan on August 31, 2021 to help expand laser use and increase direct training programs with one of the world leaders in endodontics. In June 2021, the company announced the latest data published in two journals - International Journal of Periodontics & Restorative Dentistry and Lasers in Medical Science - demonstrating how "Waterlase Er, Cr: YSGG" laser technology could be beneficial in treating periimplantitis in patients suffering from an inflammatory disease.
In the third quarter ended September 30, 2021, BIOL's net revenues increased by 45.8% year-on-year to USD 9.53 million. The company's laser sales increased by 64% year-on-year, while its consumables and other revenues grew 21% year-on-year.
However, his net loss was $ 3.28 million compared with $ 12,000 in income for the prior year period. Its loss per share was $ 0.02 compared to $ 0.21 in the prior-year quarter. In addition, the adjusted EBITDA was negative $ 2.45 million compared to $ 2.47 million in the prior year period.
Poor profitability
In terms of the final 12-month gross profit margin, 35.49% BIOL is 35.9% lower than the industry average of 55.38%. Likewise, the stock's rolling 12-month EBIT and EBITDA margins are negative compared to industry averages of 2.38% and 5.96%, respectively. In addition, its 1.17% rolling 12M CAPEX / S is 70.2% lower than the industry average of 3.93%.
The POWR ratings do not indicate well enough
BIOL has an overall C rating which corresponds to a neutral rating in our POWR rating system. POWR scores are calculated on 118 different factors, with each factor optimally weighted.
Our proprietary rating system also rates each item based on eight distinct categories. BIOL has a C rating for Momentum, which is in line with a 35.3% loss over the past six months and a 47% decline over the past nine months.
The stock has a D-rating for stability that is in sync with beta 1.47. It has a D grade for Quality, which is in line with lower profitability rates than in the industry.
BIOL ranks 99th among 173 stocks in the Medical - Devices & Equipment industry. Aside from what I said above, we've given some basic ratings to value, growth, and sentiment. Click here for all BIOL Ratings.