BIOLASE, Inc. (NASDAQ:BIOL) Q3 2018 Earnings Conference Call Transcript
Nov 13, 2018 • 10:30 am ET
Good morning, ladies and gentlemen, and welcome to the Third Quarter 2018 BIOLASE Earnings Conference Call. As a reminder, this conference call is being recorded.
I would now like to introduce your host for today's conference, Michael Polyviou of EVC Group. You may begin, sir.
Thank you, Rob. Good morning, everyone, and thank you for joining us today to discuss BIOLASE's financial results for the 2018 third quarter and first nine months ended September 30, 2018.
On the call today from BIOLASE are Todd Norbe, President and CEO; and John Beaver, EVP and CFO.
Management will review the Company's operating performance for the third quarter before opening the call for your questions.
(Forward-Looking Cautionary Statements)
A replay of this conference call will be available on the BIOLASE website shortly after the completion of today's call.
When listening to this call, please refer to the news release issued earlier this morning, announcing the Company's results for its third quarter ended September 30, 2018. If you do not have a copy of the news release, it is available in the IR section on the BIOLASE website at www.biolase.com. BIOLASE's financial results for its third quarter can also be found in the Company's quarterly report on Form 10-Q, filed with the SEC.
The tables we've provided in today's news release offer additional financial information, so we encourage you to review them. The tables include the reconciliation of GAAP net loss, net loss per share to non-GAAP and net loss and net loss per share as well as details of the Company's non-GAAP disclosures.
With that, I am pleased to turn the call over to BIOLASE President and CEO, Todd Norbe. Todd, please go ahead
Thanks, Michael, and thanks, everyone, for joining today and your interest in BIOLASE and for joining us, obviously, on this call this morning. As many of you know, this past August, the Board of Directors appointed me to assume the responsibility of President and CEO of BIOLASE. Since then, I continue to be impressed with the value of our technology, its ability to deliver on a new standard of care around dental procedures. And I have personally made a goal to speak to many of our users, and I'm pleased that our technology is being validated by a passionate and growing dental community who have paved the way for further adoption through peer-to-peer referrals. The significant potential of our products in the marketplace and the commitment of the entire BIOLASE team to perform at the highest level are beginning to have a favorable impact on our results.
Let me highlight some of our results for the third quarter. I'm pleased to report that the US laser revenue increased 22% year-over-year, while our Southern California Model Market laser revenue was up 127% during the quarter and up 175% over the last two quarters. These are encouraging results that demonstrate a high level of interest in our technology and reflect the early success we are having as we test different go-to-market approaches.