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4 Cromwell
Irvine, CA 92618 USA
phone:888-424-6527
fax:949-366-3325
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| Symbol |
BLTI |
| Exchange |
Nasdaq |
| Founded |
1986 |
| Employees |
156 |
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| www.biolase.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Dental, cosmetic and surgical laser products. |
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| Management |
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| Recent Results |
| Net revenue for the third quarter and first nine months ended September 30, 2008 was $15.3 million and $53.0 million, up from $12.8 million and $46.0 million in the respective prior year period. Net loss for the third quarter of 2008 was $4.5 million, or $0.19 loss per share, compared with a net loss of $3.5 million, or $0.15 loss per share, in the same period of 2007. Third quarter income improvements of approximately $1.3 million were offset by about $2.3 million in total costs and charges for the Diodem settlement, currency losses and new initiatives launched during the quarter. For the first nine months of 2008, net loss was $3.8 million, or $0.16 loss per share, compared with a net loss of $6.1 million, or $0.26 loss per share in the first nine months of 2007. |
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| Keywords |
| Waterlase YSGG dental laser, HydroPhotonics, HYDROKINETICT laser cutting technology, Target Tissue CoolingT system, TTCT |
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| Description |
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BIOLASE's dental laser systems allow dentists, periodontists, endodontists, oral surgeons and other specialists to perform a broad range of dental procedures, including cosmetic and complex surgical applications. BIOLASE's laser systems are designed to provide clinically superior performance, with less pain and faster recovery times than are generally achieved with drills, scalpels and other dental instruments. |
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| Products / Services |
BIOLASE offers two categories of laser system products: Waterlase systems and Diode systems. In addition, BIOLASE manufactures and sells accessories and disposables for its laser systems, such as handpieces, laser tips and tooth whitening gel.
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| Technology / Differentiation |
| The company's Waterlase system uses a patented combination of water and laser to perform most procedures currently performed using dental drills, scalpels and other traditional dental instruments for cutting soft and hard tissue. BIOLASE also offers a family of Diode laser system products-including its 'ezlase' soft tissue diode laser-to perform soft tissue and cosmetic procedures, such as tooth whitening. |
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| Market / Customers |
BIOLASE currently markets its laser systems in the United States, Canada, Australia, New Zealand, Latin America and various countries throughout Europe and the Pacific Rim. The company's marketing efforts are focused on increasing brand and specific product awareness among dental practitioners. BIOLASE continues to explore methods to increase awareness of the benefits of its products by marketing directly to patients.
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| Competitors / Substitutes / Alternatives |
BIOLASE competes with a number of companies that market traditional dental products, such as dental drills, as well as other companies that market laser technologies in dental and other medical markets. In the domestic hard tissue dental market, BIOLASE believes its Waterlase systems primarily compete with laser systems manufactured by Hoya ConBio, Lares, Syneron and OpusDent Ltd. In the international market, its Waterlase systems compete primarily with products manufactured by several additional companies, including KaVo and Deka Dental Corporation. The company's Waterlase systems also compete with non-laser based systems, including traditional high and low-speed dental drills and air abrasion systems that are used for dental procedures. BIOLASE's Diolase systems compete with other semiconductor diode lasers, as well as with scalpels, scissors and a variety of other cutting tools that have been traditionally used to perform soft tissue procedures. In the market for teeth whitening, the company's LaserSmile system competes with other products and instruments used by dentists, as well as teeth whitening strips and other over-the-counter products.
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| Strategy |
In the U.S., every 1% of market penetration represents approximately $100 million of revenue opportunity. The use of lasers in dentistry is growing; however, only a small percentage of dentists currently use laser systems, and so there is a significant opportunity to increase sales of BIOLASE's products worldwide. The company's goals are to place a laser in every dental practice and to develop a network of lifetime customers. Its sales and marketing efforts focus on educating dental professionals and patients on the benefits of its laser systems. The company participates in numerous symposia and dental industry events to stimulate demand for its products. BIOLASE has also developed relationships with dental schools, research facilities and dental institutions, in the United States and internationally, which use its products for education and training.
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| Status |
| BIOLASE has entered into a broad dental distribution agreement with Henry Schein, the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, in a concerted effort to expand awareness of its products among new generations of dental professionals. The company plans to introduce new products that complement existing products, strengthen its presence in select international markets, monetize its intellectual property portfolio with outside partnerships and pair products with ongoing value-added revenue streams for dentists, distributors and BIOLASE. |
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