Biolase Inc (BIOL)

Shares of Biolase Inc (BIOL) dropped by 19.58% from $1.43 to $1.15 in the trading on Friday November 10, 2023. The reason why BIOL is down today is due to the company's mixed Q3 financial results.

• Total revenue was $10.9 million, which was below the year-ago revenue, likely due to the current macro-environment impacting laser system sales.
• However, there was a 10% year-over-year increase in total consumable sales, indicating increased utilization of installed laser systems.
• Despite this, the gross margin improved to 34%, a 1,400-basis expansion compared to the year-ago level, which may have raised concerns among investors about the company's overall financial health and profitability.

Shares of Biolase Inc (BIOL) dropped by 39.57% from $3.26 to $1.97 in the trading on Thursday, September 14, 2023. The reason why BIOL is down today is due to the company's announcement regarding the pricing of a $4.5 million underwritten public offering of Series J Convertible Redeemable Preferred Stock and warrants. While this offering is expected to generate gross proceeds of approximately $4.5 million, the market's reaction may reflect concerns about potential dilution and the company's financial health. The net proceeds from the offering are intended for working capital and general corporate purposes, with Lake Street Capital Markets, LLC and Maxim Group LLC serving as the joint bookrunners for the offering.

Shares of Biolase Inc (BIOL) dropped by 13.87% from $6.13 to $5.28 in the trading on Friday, August 11, 2023. The reason why BIOL is down today is due to its mixed Q2 earnings results. In the second quarter, the company reported sales of $12.24 million, compared to $9.13 million in the same period the previous year. However, the company also reported a net loss of $5.61 million for the quarter, significantly higher than the net loss of $0.702 million in the previous year's second quarter. The basic loss per share from continuing operations also increased to $91 compared to $12 a year ago.

Shares of Biolase Inc (BIOL) dropped by 18.80% from $21.49 to $17.45 in the trading on Wednesday, May 16, 2023. The reason why BIOL is down today is due to the release of its Q1 2023 earnings report. The company reported an earnings per share of -18 cents, worse than the estimated -10 cents by Wall Street analysts, although it was an improvement from the -81 cents per share in Q1 2022. On the positive side, Biolase's Q1 revenue came in at $10.47 million, beating analysts' estimate of $10.18 million and showing a 3% increase from the previous year's $10.2 million. The larger-than-expected loss per share likely led to the stock's decline despite the revenue beat.