BIOLASE Inc. (NASDAQ:BIOL) is up 28% in premarket after announcing its Q2 2021 financial results for the quarter ended June 30, 2021, and provided Q3 2021 revenue guidance. The company reported YoY net revenue growth of 211% to $9.1 million, which was 6% more than pre-pandemic revenues in Q2 2019.
BIOLASE’s laser system revenues were up 424%, while consumables and other sales were up 173%. In addition, international and US revenue was up 340% and 167%, respectively, thanks to extra dental practices operated in Q2 2021 relative to a year ago.
CEO John beaver said that the Q2 solid performance resulted from growing demand for the company’s dental lasers attributed to intensified training and education. The company anticipates high demand for dental lasers in Q3, and it expects revenue to be considerably higher compared to Q3 2020. Despite Q3 being the company’s second weakest quarter in terms of revenue, it expects revenue to be almost what it experienced in Q2. So ahead of Q3, BIOL is a stock to watch.
On Thursday, BIOL stock gained 0.25% at $0.63 with more than 8.71 million shares, compared to its average volume of 2.72 million shares. The stock has moved within a range of $0.6203 – 0.6700 after opening the trade at $0.66.