The stock of BIOLASE, Inc. (BIOL) slightly declined in the current market after the company announced its Prior revenue results for the 4rth quarter of 2021. The stock of BIOL was valued at $0.39 at the start of the current market today losing more than 2.81% from the previously closed value. At the end of the last trading session, the stock closed at $0.41. The volume of the stock traded in the last trading session was around 3.88 million shares.
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Reason for the BIOL stock decline
Today BIOLASE, Inc. (BIOL) announced prior 2021 fourth-quarter revenue results in a press release. They are extremely above fourth-quarter revenue for both 2020 and pre-COVID 2019. In the first half of March 2022, BIOLASE, Inc. (BIOL) will announce the results for the fourth quarter and full-year ended December 31, 2021.
Prior 2021 Fourth Quarter Results
- The company expects the revenue to be in the range of $12.2 million to $12.5 million. It will be a gain of 44-47% over the fourth quarter of 2020 results and 20-23% over the fourth quarter 2019 pre-COVID results.
- BIOLASE continued to gain speed with the gain of customers and dental specialists during the 4rth quarter.
- Around 90% of BIOLASE’s sales territories were fully staffed at the end of the 4rth quarter of fiscal 2021.
- In the 4rth quarter, BIOLASE has received approval for its new EdgePRO laser. It is developed by BIOLASE with EdgeEndo, a global leader in commercializing products for the global endodontics market.
- The company expects cash and cash equivalents to be around $30.0 million at end of fiscal 2022. The company hopes the cash will be adequate to achieve the multi-year growth strategy of BIOLASE.
Effect on the stock
The stock of BIOL slightly lost its value after the announcement of its prior revenue results. The loss is not quite significant and it’s the start of the market on Monday so it is expected the value will increase.
Conclusion
On Monday morning at the beginning of the market, the BIOL starts with a dip. But it will regain its value soon as it reported a good revenue expectation. This could be a chance for the investors to invest in a stock at its dip.
