Biolase Reports 2024 First Quarter Results; Reiterates Full-Year 2024 Guidance For Revenue Growth and Profitability
Biolase Reports 2024 First Quarter Results; Reiterates Full-Year 2024 Guidance For Revenue Growth and Profitability
Increased Adoption of Dental Lasers and Improved Cost Structure Position Company for Sustained Long Term Growth and Success
牙科激光器的採用率越來越高，成本結構的改善使公司能夠實現持續的長期增長和成功
LAKE FOREST, CA / ACCESSWIRE / May 13, 2024 / BIOLASE, Inc. (NASDAQ:BIOL), a leader in dental laser technology, today reported its financial results for the first quarter ended March 31, 2024.
加利福尼亞州森林湖/ACCESSWIRE/2024年5月13日/牙科激光技術的領導者BIOLASE, Inc.（納斯達克股票代碼：BIOL）今天公佈了截至2024年3月31日的第一季度財務業績。
First Quarter Financial Highlights
第一季度財務摘要
- Generated increased adoption of its industry-leading laser, with approximately 67% of U.S. Waterlase sales coming from new customers and approximately 42% from dental specialists
- Third strongest consumable sales quarter in company history, with consumable sales increasing 14% year over year, largely driven by over 600 subscriptions
- Gross margin was relatively flat compared to the year-ago quarter; however, it improved by 1% year over year as the Company continues to benefit from 100% of its trunk fiber requirements now being supplied in-house and improved by 7% compared to the prior quarter from inventory adjustments and reserve charges recorded in the fourth quarter ended December 31, 2023
- Significantly lowered Adjusted EBITDA loss by 21% versus the same quarter last year, as cost reduction initiatives achieved desired outcomes
- 提高了其業界領先的激光器的採用率，美國Waterlase約67％的銷售額來自新客戶，約42％來自牙科專家
- 公司歷史上第三強勁的消費品銷售季度，消費品銷售同比增長14％，這主要是由600多名訂閱者推動的
- 與去年同期相比，毛利率相對持平；但是，由於公司繼續受益於其100％的幹線光纖需求目前由內部供應，毛利率同比增長了1％，與上一季度相比增長了7％，這要歸因於截至2023年12月31日的第四季度記錄的庫存調整和儲備費用
- 由於成本削減計劃取得了預期的結果，調整後的息稅折舊攤銷前利潤虧損與去年同期相比大幅下降了21％
Full Year 2024 Financial Guidance
2024 年全年財務指導
- Reiterates 2024 full-year financial guidance, in which it expects:
- 2024 full-year net revenue to increase between 6% and 8% year over year to between $52 million and $53 million. This reflects the continued adoption of lasers and consumables by the dental community, including general dentists, dental specialists, dental hygienists, and group practice entities (DSOs), offset by the challenging business environment.
- Positive Adjusted EBITDA results for the full year of 2024 (Adjusted EBITDA is defined as net loss before interest, taxes, depreciation and amortization, patent litigation settlements, stock-based and other non-cash compensation, and the change in allowance for doubtful accounts).
- 重申2024年全年財務指導，其中預計：
- 2024年全年淨收入將同比增長6％至8％，達到5200萬美元至5,300萬美元之間。這反映了包括普通牙醫、牙科專家、牙科衛生員和團體執業實體（DSO）在內的牙科界持續採用激光和消耗品，但被充滿挑戰的商業環境所抵消。
- 2024年全年調整後息稅折舊攤銷前利潤業績爲正值（調整後的息稅折舊攤銷前利潤定義爲扣除利息、稅項、折舊和攤銷、專利訴訟和解、股票和其他非現金薪酬以及可疑賬戶備抵額變動前的淨虧損）。
"While revenue was slightly down compared to the year-ago quarter, primarily due to the tougher economic climate, I believe the increased adoption of our award-winning lasers is an encouraging sign and a leading indicator that positions us for longer-term success," commented John Beaver, President and Chief Executive Officer of BIOLASE. "Furthermore, our purposeful and prudent actions have significantly improved our operations as we expanded our gross margin by 700 basis points sequentially, even with the expected lower seasonal revenues, and achieved a 9% reduction year over year in our expense structure. I believe these initiatives and our revenue expansion plans position BIOLASE for success. Moreover, we also strengthened the balance sheet to provide us with the resources necessary to maximize our growth opportunities and to enhance shareholder value."
BIOLASE總裁兼首席執行官約翰·比弗評論說：“儘管收入與去年同期相比略有下降，這主要是由於更艱難的經濟環境，但我相信我們屢獲殊榮的激光器的採用率增加是一個令人鼓舞的跡象，也是我們取得長期成功的領先指標。”“此外，儘管預計季節性收入會降低，但我們的毛利率依次擴大了700個點子，我們的有針對性和謹慎的行動顯著改善了我們的業務，而且我們的支出結構同比下降了9％。我相信這些舉措和我們的收入擴張計劃使BIOLASE取得了成功。此外，我們還加強了資產負債表，爲我們提供了最大限度地提高增長機會和提高股東價值所需的資源。”
First Quarter Financial Results
第一季度財務業績
Net revenue for the quarter ended March 31, 2024, was $10.1 million, a decrease of 3% compared to net revenue of $10.5 million for the quarter ended March 31, 2023. U.S. laser revenue was $2.7 million for the quarter ended March 31, 2024, a decrease of 22% compared to U.S. laser revenue of $3.5 million for the quarter ended March 31, 2023. U.S. consumables and other revenue for the quarter ended March 31, 2024, which consists of revenue from consumable products such as disposable tips, increased 17% year over year. International laser revenue was $2.5 million for the quarter ended March 31, 2024, down 12% compared to $2.8 million for the quarter ended March 31, 2023. International consumables and other revenue for the quarter ended March 31, 2024, which consists of revenue from consumable products such as disposable tips, increased 8% year over year.
截至2024年3月31日的季度淨收入爲1,010萬美元，與截至2023年3月31日的季度淨收入1,050萬美元相比下降了3％。截至2024年3月31日的季度，美國激光收入爲270萬美元，與截至2023年3月31日的季度美國激光收入350萬美元相比下降了22％。截至2024年3月31日的季度，美國消費品和其他收入同比增長17％，其中包括一次性吸嘴等消耗品的收入。截至2024年3月31日的季度，國際激光收入爲250萬美元，與截至2023年3月31日的季度280萬美元相比下降了12％。截至2024年3月31日的季度國際消耗品和其他收入，包括一次性吸嘴等消耗品的收入，同比增長8％。
Gross margin for the quarter ended March 31, 2024, was 33% compared to 32% for the quarter ended March 31, 2023. Total operating expenses were $7.9 million for the quarter ended March 31, 2024, compared to $8.6 million for the quarter ended March 31, 2023, a 9% decrease year over year. Operating loss for the quarter ended March 31, 2024, was $4.5 million, compared to an operating loss of $5.3 million for the quarter ended March 31, 2023, an improvement of 15% year over year.
截至2024年3月31日的季度毛利率爲33％，而截至2023年3月31日的季度毛利率爲32％。截至2024年3月31日的季度總運營支出爲790萬美元，而截至2023年3月31日的季度爲860萬美元，同比下降9％。截至2024年3月31日的季度營業虧損爲450萬美元，而截至2023年3月31日的季度的營業虧損爲530萬美元，同比增長15％。
The Company had cash and cash equivalents of approximately $6.4 million on March 31, 2024.
截至2024年3月31日，該公司的現金及現金等價物約爲640萬美元。
Net Loss and Adjusted EBITDA
淨虧損和調整後的息稅折舊攤銷前利潤
The reconciliation of GAAP Net Loss to Adjusted EBITDA at the end of this news release provides the details of the Company's non-GAAP disclosures and the reconciliation of GAAP net loss and net loss per share to the Company's Adjusted EBITDA and Adjusted EBITDA per share.
本新聞稿末尾的GAAP淨虧損與調整後息稅折舊攤銷前利潤的對賬詳細介紹了公司的非公認會計准則披露以及GAAP淨虧損和每股淨虧損與公司調整後息稅折舊攤銷前利潤和調整後每股息稅折舊攤銷前利潤的對賬。
Net loss attributable to common stockholders for the quarter ended March 31, 2024, was $6.5 million, or $0.36 per share, compared to a net loss of $5.8 million, or $17.83 per share (as adjusted for the reverse stock split), for the quarter ended March 31, 2023. Adjusted EBITDA for the quarter ended March 31, 2024, was a loss of $3.5 million, or $0.20 per share, compared with an Adjusted EBITDA loss of $4.4 million, or $13.56 per share (as adjusted for the reverse stock split), for the quarter ended March 31, 2023.
截至2024年3月31日的季度，歸屬於普通股股東的淨虧損爲650萬美元，合每股虧損0.36美元，而截至2023年3月31日的季度淨虧損爲580萬美元，合每股虧損17.83美元（經反向股票拆分調整後）。截至2024年3月31日的季度調整後息稅折舊攤銷前利潤爲350萬美元，合每股虧損0.20美元，而截至2023年3月31日的季度調整後息稅折舊攤銷前利潤虧損爲440萬美元，合每股虧損13.56美元（經反向股票拆分調整後）。
Conference Call Information
電話會議信息
BIOLASE, Inc. will host a conference call today at 4:30 p.m. Eastern Time to discuss its operating results for the first quarter ended March 31, 2024, and to answer questions. To access the live call, dial 1-877-270-2148 (U.S.) or +1 412-902-6510 (International) and ask to join the BIOLASE call.
BIOLASE, Inc.將於美國東部時間今天下午 4:30 舉行電話會議，討論其截至2024年3月31日的第一季度經營業績，並回答問題。要觀看直播，請撥打 1-877-270-2148（美國）或 +1 412-902-6510（國際），要求加入 BIOLASE 電話會議。
A live and archived conference call webcast will be accessible on the BIOLASE Investor Relations page. In addition, a phone replay will be available approximately two hours after the end of the call and will remain available for one week. To access the replay, dial 1-877-344-7529 or +1 412-317-0088 (International) and enter the replay passcode: 4013275.
可以在BIOLASE投資者關係頁面上觀看網絡直播和存檔的電話會議。此外，電話重播將在電話會議結束大約兩小時後提供，並將持續一週。要觀看重播，請撥打 1-877-344-7529 或 +1 412-317-0088（國際）並輸入重播密碼：4013275。
About BIOLASE
關於 BIOLASE
BIOLASE is a medical device company that develops, manufactures, markets and sells laser systems in dentistry and medicine. BIOLASE's products advance the practice of dentistry and medicine for patients and healthcare professionals. As of December 31, 2023, BIOLASE's proprietary laser products incorporate approximately 241 active patents and 21 patent-pending technologies designed to provide biologically and clinically superior performance with less pain and faster recovery times. BIOLASE's innovative products provide cutting-edge technology at competitive prices to deliver superior results for dentists and patients. BIOLASE's principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications. From 1998 through December 31, 2023, BIOLASE has sold over 47,700 laser systems in over 80 countries around the world. Laser products under development address BIOLASE's core dental market and other adjacent medical and consumer applications.
BIOLASE 是一家醫療器械公司，開發、製造、營銷和銷售牙科和醫學領域的激光系統。BIOLASE 的產品推動了患者和醫療保健專業人員的牙科和醫學實踐。截至2023年12月31日，BIOLASE的專有激光產品包含約241項有效專利和21項正在申請專利的技術，旨在提供卓越的生物和臨床性能，減少疼痛並縮短恢復時間。BIOLASE 的創新產品以具有競爭力的價格提供尖端技術，爲牙醫和患者提供卓越的治療效果。BIOLASE 的主要產品是牙科激光系統，可執行各種牙科手術，包括美容和複雜的外科手術。從 1998 年到 2023 年 12 月 31 日，BIOLASE 已在全球 80 多個國家銷售了 47,700 多套激光系統。正在開發的激光產品解決了BIOLASE的核心牙科市場以及其他相鄰的醫療和消費類應用。
For updates and information on Waterlase iPlus, Waterlase Express, and laser dentistry, find BIOLASE online at , Facebook at , Twitter at , Instagram at , and LinkedIn at .
要了解有關 Waterlase iPlus、Waterlase Express 和激光牙科的最新動態和信息，請在網上查找 BIOLASE，在 Facebook 上查找，在 Twitter 上查找，在 Instagram 上查找，在 LinkedIn 上查找。
BIOLASE, Waterlase and Waterlase iPlus are registered trademarks of BIOLASE, Inc.
BIOLASE、Waterlase 和 Waterlase iPlus 是 BIOLASE, Inc. 的註冊商標。
Cautionary Statement Regarding Forward-Looking Statements
關於前瞻性陳述的警示聲明
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements, regarding BIOLASE's expected revenue and revenue growth. Forward-looking statements can be identified through the use of words such as "may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE's current expectations and speak only as of the date of this release and includes statements regarding sustained long term growth and success, expected 2024 full-year net revenue to increase between 6% and 8% year over year to between $52 million and $53 million, the continued adoption of lasers and consumables by the dental community, including general dentists, dental specialists, dental hygienists, and group practice entities (DSOs), offset by the challenging business environment, expected positive Adjusted EBITDA results for the full year of 2024, being positioned for longer-term success, maximizing growth opportunities and enhancing shareholder value. Actual results may differ materially from BIOLASE's current expectations depending upon a number of factors. These factors include, among others, the ability to sustain growth, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, and ability to increase revenue, risks associated with managing the growth of the business, substantial doubt regarding BIOLASE's ability to continue as a going concern, and those other risks and uncertainties that are described in the "Risk Factors" section of BIOLASE's most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the Securities and Exchange Commission. Except as required by law, BIOLASE does not undertake any responsibility to revise or update any forward-looking statements.
本新聞稿包含前瞻性陳述，該術語在1995年《私人訴訟改革法》中定義，涉及重大風險和不確定性，包括有關BIOLASE預期收入和收入增長的陳述。前瞻性陳述可以通過使用 “可能”、“可能”、“將”、“打算”、“應該”、“可以”、“會”、“繼續”、“期望”、“相信”、“預期”、“估計”、“預測”、“前景”、“潛在”、“計劃”、“尋求” 等詞語以及類似的表述和變體或否定詞來識別術語或其他類似術語。提醒讀者不要過分依賴這些前瞻性陳述，這些陳述反映了BIOLASE當前的預期，僅代表截至本新聞稿發佈之日 幷包括有關以下內容的聲明持續的長期增長和成功，預計2024年全年淨收入將同比增長6％至8％，達到5200萬至5,300萬美元之間，牙科界繼續採用激光和消耗品，包括普通牙醫、牙科專家、牙科衛生員和團體執業實體（DSO），但被充滿挑戰的商業環境所抵消，預計2024年全年調整後的息稅折舊攤銷前利潤業績爲正值，爲長期成功做好準備，實現增長機會最大化並提高股東價值。實際結果可能與BIOLASE當前的預期存在重大差異，具體取決於多種因素。除其他外，這些因素包括持續增長的能力、總體經濟和市場狀況的不利變化、競爭因素（包括但不限於定價壓力和新產品推出）、客戶接受新產品和市場變化的不確定性以及增加收入的能力、與管理業務增長相關的風險、對BIOLASE持續經營能力的重大懷疑，以及 “風險因素” 中描述的其他風險和不確定性的部分BIOLASE向美國證券交易委員會提交的最新10-K表年度報告和10-Q表季度報告。除非法律要求，否則BIOLASE不承擔任何修改或更新任何前瞻性陳述的責任。
For further information, please contact:
欲了解更多信息，請聯繫：
EVC Group LLC
Michael Polyviou / Todd Kehrli
(732) 933-2754
mpolyviou@evcgroup.com / tkehrli@evcgroup.com
EVC 集團有限責任公司
邁克爾·波利維烏/Todd Kehrli
(732) 933-2754
mpolyviou@evcgroup.com/tkehrli@evcgroup.com
BIOLASE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited, in thousands, except per share data)
BIOLASE, INC.
簡明的合併運營報表和綜合虧損
（未經審計，以千計，每股數據除外）
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
Net revenue |
$ | 10,131 | $ | 10,467 | ||||
Cost of revenue |
6,795 | 7,130 | ||||||
Gross profit |
3,336 | 3,337 | ||||||
Operating expenses: |
||||||||
Sales and marketing |
3,383 | 4,622 | ||||||
General and administrative |
3,196 | 2,459 | ||||||
Engineering and development |
1,283 | 1,547 | ||||||
Total operating expenses |
7,862 | 8,628 | ||||||
Loss from operations |
(4,526 | ) | (5,291 | ) | ||||
Gain (loss) on foreign currency transactions |
(96 | ) | 20 | |||||
Interest expense, net |
(622 | ) | (577 | ) | ||||
Other income (loss), net |
(1,222 | ) | - | |||||
Non-operating loss, net |
(1,940 | ) | (557 | ) | ||||
Loss before income tax provision |
(6,466 | ) | (5,848 | ) | ||||
Income tax provision |
(19 | ) | (1 | ) | ||||
Net loss |
(6,485 | ) | (5,849 | ) | ||||
Other comprehensive loss items: |
||||||||
Foreign currency translation adjustments |
(86 | ) | 80 | |||||
Comprehensive loss |
$ | (6,571 | ) | $ | (5,769 | ) | ||
Net loss |
$ | (6,485 | ) | $ | (5,849 | ) | ||
Deemed dividend on convertible preferred stock |
- | - | ||||||
Net loss attributable to common stockholders |
$ | (6,485 | ) | $ | (5,849 | ) | ||
Net loss per share attributable to common stockholders: |
||||||||
Basic and Diluted |
$ | (0.36 | ) | $ | (17.83 | ) | ||
Shares used in the calculation of net loss per share: |
||||||||
Basic and Diluted |
17,842 | 328 | ||||||
| 三個月已結束 | ||||||||
| 3月31日 | ||||||||
| 2024 | 2023 | |||||||
淨收入 |
$ | 10,131 | $ | 10,467 | ||||
收入成本 |
6,795 | 7,130 | ||||||
毛利 |
3,336 | 3,337 | ||||||
運營費用： |
||||||||
銷售和營銷 |
3,383 | 4,622 | ||||||
一般和行政 |
3,196 | 2,459 | ||||||
工程與開發 |
1,283 | 1,547 | ||||||
運營費用總額 |
7,862 | 8,628 | ||||||
運營損失 |
(4,526) | ) | (5,291) | ) | ||||
外幣交易的收益（虧損） |
(96 | ) | 20 | |||||
利息支出，淨額 |
(622) | ) | (577) | ) | ||||
其他收入（虧損），淨額 |
(1,222 | ) | - | |||||
非營業虧損，淨額 |
(1,940) | ) | (557) | ) | ||||
所得稅準備金前的虧損 |
(6,466) | ) | (5,848) | ) | ||||
所得稅條款 |
(19) | ) | (1) | ) | ||||
淨虧損 |
(6,485) | ) | (5,849) | ) | ||||
其他綜合損失項目： |
||||||||
外幣折算調整 |
(86) | ) | 80 | |||||
綜合損失 |
$ | (6,571) | ) | $ | (5,769) | ) | ||
淨虧損 |
$ | (6,485) | ) | $ | (5,849) | ) | ||
可轉換優先股的視作股息 |
- | - | ||||||
歸屬於普通股股東的淨虧損 |
$ | (6,485) | ) | $ | (5,849) | ) | ||
歸屬於普通股股東的每股淨虧損： |
||||||||
基礎版和稀釋版 |
$ | (0.36 | ) | $ | (17.83) | ) | ||
計算每股淨虧損時使用的股份： |
||||||||
基礎版和稀釋版 |
17,842 | 328 | ||||||
BIOLASE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands, except per share data)
BIOLASE, INC.
簡明的合併資產負債表
（未經審計，以千計，每股數據除外）
| March 31, | December 31, | |||||||
| 2024 | 2023 | |||||||
ASSETS |
||||||||
Current assets: |
||||||||
Cash and cash equivalents |
$ | 6,393 | $ | 6,566 | ||||
Accounts receivable, less allowance of $216 and $244 as of March 31, 2024 and December 31, 2023, respectively |
5,687 | 5,483 | ||||||
Inventory |
11,273 | 11,433 | ||||||
Prepaid expenses and other current assets |
1,652 | 1,381 | ||||||
Total current assets |
25,005 | 24,863 | ||||||
Property, plant, and equipment, net |
4,846 | 5,525 | ||||||
Goodwill |
2,926 | 2,926 | ||||||
Right-of-use assets, leases |
1,313 | 1,519 | ||||||
Other assets |
263 | 268 | ||||||
Total assets |
$ | 34,353 | $ | 35,101 | ||||
LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) |
||||||||
Current liabilities: |
||||||||
Accounts payable |
$ | 4,915 | $ | 6,065 | ||||
Accrued liabilities |
7,589 | 7,518 | ||||||
Stock warrant liability |
3,780 | 1,363 | ||||||
Deferred revenue, current portion |
2,343 | 2,452 | ||||||
Current portion of term loans |
2,800 | 2,265 | ||||||
Total current liabilities |
21,427 | 19,663 | ||||||
Deferred revenue |
223 | 256 | ||||||
Warranty accrual |
598 | 593 | ||||||
Non-current term loans, net of discount |
11,207 | 11,782 | ||||||
Non-current operating lease liability |
542 | 772 | ||||||
Other liabilities |
87 | 79 | ||||||
Total liabilities |
34,084 | 33,145 | ||||||
Mezzanine Equity: |
||||||||
Series H Convertible Redeemable Preferred stock, par value $0.001 per share |
346 | 346 | ||||||
Series J Convertible Redeemable Preferred stock, par value $0.001 per share |
1,857 | 1,857 | ||||||
Total mezzanine equity |
2,203 | 2,203 | ||||||
Stockholders' equity (deficit): |
||||||||
Common stock, par value $0.001 per share |
33 | 3 | ||||||
Additional paid-in capital |
321,957 | 317,103 | ||||||
Accumulated other comprehensive loss |
(639 | ) | (553 | ) | ||||
Accumulated deficit |
(323,285 | ) | (316,800 | ) | ||||
Total stockholders' equity (deficit) |
(1,934 | ) | (247 | ) | ||||
Total liabilities, convertible redeemable preferred stock and stockholders' equity (deficit) |
$ | 34,353 | $ | 35,101 | ||||
| 3月31日 | 十二月三十一日 | |||||||
| 2024 | 2023 | |||||||
資產 |
||||||||
流動資產： |
||||||||
現金和現金等價物 |
$ | 6,393 | $ | 6,566 | ||||
應收賬款，減去截至2024年3月31日和2023年12月31日分別爲216美元和244美元的備抵金 |
5,687 | 5,483 | ||||||
庫存 |
11,273 | 11,433 | ||||||
預付費用和其他流動資產 |
1,652 | 1,381 | ||||||
流動資產總額 |
25,005 | 24,863 | ||||||
不動產、廠房和設備，淨額 |
4,846 | 5,525 | ||||||
善意 |
2,926 | 2,926 | ||||||
使用權資產、租賃 |
1,313 | 1,519 | ||||||
其他資產 |
263 | 268 | ||||||
總資產 |
$ | 34,353 | $ | 35,101 | ||||
負債、可轉換可贖回優先股和股東權益（赤字） |
||||||||
流動負債： |
||||||||
應付賬款 |
$ | 4,915 | $ | 6,065 | ||||
應計負債 |
7,589 | 7,518 | ||||||
股票認股權證責任 |
3,780 | 1,363 | ||||||
遞延收入，當期部分 |
2,343 | 2,452 | ||||||
定期貸款的當前部分 |
2,800 | 2,265 | ||||||
流動負債總額 |
21,427 | 19,663 | ||||||
遞延收入 |
223 | 256 | ||||||
保修期累計 |
598 | 593 | ||||||
扣除折扣後的非本期定期貸款 |
11,207 | 11,782 | ||||||
非當期經營租賃負債 |
542 | 772 | ||||||
其他負債 |
87 | 79 | ||||||
負債總額 |
34,084 | 33,145 | ||||||
夾層股權： |
||||||||
H系列可轉換可贖回優先股，面值每股0.001美元 |
346 | 346 | ||||||
J系列可轉換可贖回優先股，面值每股0.001美元 |
1,857 | 1,857 | ||||||
夾層資產總額 |
2,203 | 2,203 | ||||||
股東權益（赤字）： |
||||||||
普通股，面值每股0.001美元 |
33 | 3 | ||||||
額外的實收資本 |
321,957 | 317,103 | ||||||
累計其他綜合虧損 |
(639) | ) | (553) | ) | ||||
累計赤字 |
(323,285) | ) | (316,800 | ) | ||||
股東權益總額（赤字） |
(1,934 | ) | (247) | ) | ||||
負債總額、可轉換可贖回優先股和 股東權益（赤字） |
$ | 34,353 | $ | 35,101 | ||||
BIOLASE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
BIOLASE, INC.
簡明的合併現金流量表
（未經審計，以千計）
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
Cash Flows from Operating Activities: |
||||||||
Net loss |
$ | (6,485 | ) | $ | (5,849 | ) | ||
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: |
||||||||
Depreciation |
660 | 149 | ||||||
Recoveries of bad debts |
(27 | ) | (17 | ) | ||||
Amortization of debt issuance costs |
125 | 107 | ||||||
Change in fair value of warrants |
556 | - | ||||||
Issuance costs for common stock warrants |
830 | - | ||||||
Stock-based compensation |
113 | 691 | ||||||
Gain on disposal of fixed assets |
(156 | ) | - | |||||
Changes in operating assets and liabilities: |
||||||||
Accounts receivable |
(177 | ) | 700 | |||||
Inventory |
133 | (1,890 | ) | |||||
Prepaid expenses and other current assets |
(59 | ) | 240 | |||||
Accounts payable and accrued liabilities |
(1,308 | ) | 303 | |||||
Deferred revenue |
(143 | ) | (92 | ) | ||||
Net cash and cash equivalents used in operating activities |
(5,938 | ) | (5,658 | ) | ||||
Cash Flows from Investing Activities: |
||||||||
Purchases of property, plant, and equipment |
- | (587 | ) | |||||
Proceeds from disposal of property, plant, and equipment |
197 | - | ||||||
Net cash and cash equivalents provided by (used in) investing activities |
197 | (587 | ) | |||||
Cash Flows from Financing Activities: |
||||||||
Proceeds from the sale of common stock and pre-funded warrants, net of fees |
2,784 | 8,503 | ||||||
Proceeds from the sale of warrants, net of fees |
3,020 | - | ||||||
Principal payment on loan |
(165 | ) | - | |||||
Proceeds from the exercise of common stock warrants |
8 | 14 | ||||||
Net cash and cash equivalents provided by financing activities |
5,647 | 8,517 | ||||||
Effect of exchange rate changes |
(79 | ) | 79 | |||||
(Decrease) increase in cash and cash equivalents |
(173 | ) | 2,351 | |||||
Cash and cash equivalents, beginning of period |
6,566 | 4,181 | ||||||
Cash and cash equivalents, end of period |
$ | 6,393 | $ | 6,532 | ||||
Supplemental cash flow disclosure: |
||||||||
Cash paid for interest |
$ | 494 | $ | 470 | ||||
Cash received for interest |
$ | 2 | $ | 2 | ||||
Cash paid (received) for income taxes |
$ | 8 | $ | (14 | ) | |||
Cash paid for operating leases |
$ | 77 | $ | 68 | ||||
Non-cash property, plant and equipment additions acquired under inventory |
$ | 27 | $ | - | ||||
Common stock issued upon cashless warrant exercise |
$ | 1,989 | $ | - | ||||
Non-cash right-of-use assets obtained in exchange for lease obligation |
$ | - | $ | 464 | ||||
| 三個月已結束 | ||||||||
| 3月31日 | ||||||||
| 2024 | 2023 | |||||||
來自經營活動的現金流： |
||||||||
淨虧損 |
$ | (6,485) | ) | $ | (5,849) | ) | ||
爲使淨虧損與經營活動中使用的淨現金和現金等價物進行對賬而進行的調整： |
||||||||
折舊 |
660 | 149 | ||||||
追回壞賬 |
(27) | ) | (17) | ) | ||||
債務發行成本的攤銷 |
125 | 107 | ||||||
認股權證公允價值的變化 |
556 | - | ||||||
普通股認股權證的發行成本 |
830 | - | ||||||
基於股票的薪酬 |
113 | 691 | ||||||
處置固定資產的收益 |
(156 | ) | - | |||||
運營資產和負債的變化： |
||||||||
應收賬款 |
(177) | ) | 700 | |||||
庫存 |
133 | (1,890 | ) | |||||
預付費用和其他流動資產 |
(59) | ) | 240 | |||||
應付賬款和應計負債 |
(1,308 | ) | 303 | |||||
遞延收入 |
(143) | ) | (92) | ) | ||||
用於經營活動的淨現金和現金等價物 |
(5,938) | ) | (5,658) | ) | ||||
來自投資活動的現金流： |
||||||||
購買不動產、廠房和設備 |
- | (587) | ) | |||||
處置不動產、廠房和設備的收益 |
197 | - | ||||||
投資活動提供的（用於）的淨現金和現金等價物 |
197 | (587) | ) | |||||
來自融資活動的現金流： |
||||||||
出售普通股和預先注資認股權證的收益，扣除費用 |
2,784 | 8,503 | ||||||
出售認股權證的收益，扣除費用 |
3,020 | - | ||||||
貸款本金還款 |
(165) | ) | - | |||||
行使普通股認股權證的收益 |
8 | 14 | ||||||
融資活動提供的淨現金和現金等價物 |
5,647 | 8,517 | ||||||
匯率變動的影響 |
(79) | ) | 79 | |||||
現金和現金等價物（減少）增加 |
(173) | ) | 2,351 | |||||
現金和現金等價物，期初 |
6,566 | 4,181 | ||||||
現金和現金等價物，期末 |
$ | 6,393 | $ | 6,532 | ||||
補充現金流披露： |
||||||||
支付利息的現金 |
$ | 494 | $ | 470 | ||||
收到的利息現金 |
$ | 2 | $ | 2 | ||||
爲所得稅支付（收到）的現金 |
$ | 8 | $ | (14) | ) | |||
爲經營租賃支付的現金 |
$ | 77 | $ | 68 | ||||
在庫存項下增購的非現金財產、廠房和設備 |
$ | 27 | $ | - | ||||
通過無現金認股權證行使發行的普通股 |
$ | 1,989 | $ | - | ||||
爲換取租賃義務而獲得的非現金使用權資產 |
$ | - | $ | 464 | ||||
Non-GAAP Financial Measures
非公認會計准則財務指標
In addition to the financial information prepared in conformity with generally accepted accounting principles in the U.S. ("GAAP"), this press release includes certain historical non-GAAP financial information. Management believes that these non-GAAP financial measures assist investors in making comparisons of period-to-period operating results and that, in some respects, these non-GAAP financial measures are more indicative of the Company's ongoing core operating performance than their GAAP equivalents.
除了根據美國公認會計原則（“GAAP”）編制的財務信息外，本新聞稿還包括某些歷史性的非公認會計准則財務信息。管理層認爲，這些非公認會計准則財務指標有助於投資者比較各期的經營業績，在某些方面，這些非公認會計准則財務指標比公認會計准則同等指標更能表明公司的持續核心經營業績。
Adjusted EBITDA is defined as net loss before interest, taxes, depreciation, stock-based and other non-cash compensation, severance expense, change in allowance for doubtful accounts, increase in inventory reserves, stock warrant issuance costs, and loss on warrants. Management uses Adjusted EBITDA in its evaluation of the Company's core results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. Further, the non-GAAP financial measures presented by the Company may be different from similarly named non-GAAP financial measures used by other companies.
調整後的息稅折舊攤銷前利潤定義爲扣除利息、稅項、折舊、股票和其他非現金補償前的淨虧損、遣散費、可疑賬戶備抵變動、庫存儲備增加、股票認股權證發行成本和認股權證虧損。管理層使用調整後的息稅折舊攤銷前利潤來評估公司的核心經營業績和會計期之間的趨勢，並認爲這些指標是其內部績效評估過程的重要組成部分。因此，除了根據公認會計原則編制的財務業績指標外，投資者還應考慮使用非公認會計准則財務指標，而不是將其替代或優於根據公認會計原則編制的財務業績指標。此外，公司提出的非公認會計准則財務指標可能與其他公司使用的同名非公認會計准則財務指標不同。
BIOLASE, INC.
Reconciliation of GAAP Net Loss to Adjusted EBITDA and
GAAP Net Loss Per Share to Adjusted EBITDA Per Share
(Unaudited, in thousands, except per share data)
BIOLASE, INC.
GAAP淨虧損與調整後息稅折舊攤銷前利潤的對賬以及
GAAP 每股淨虧損佔調整後每股息稅折舊攤銷前利潤
（未經審計，以千計，每股數據除外）
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2024 | 2023 | |||||||
GAAP net loss attributable to common stockholders |
$ | (6,485 | ) | $ | (5,849 | ) | ||
Deemed dividend on convertible preferred stock |
- | - | ||||||
GAAP net loss |
$ | (6,485 | ) | $ | (5,849 | ) | ||
Adjustments: |
||||||||
Interest expense, net |
622 | 577 | ||||||
Income tax provision |
19 | 1 | ||||||
Depreciation |
660 | 149 | ||||||
Severance expense |
182 | - | ||||||
Change in allowance for doubtful accounts |
(27 | ) | (17 | ) | ||||
Stock-based and other non-cash compensation |
113 | 691 | ||||||
Stock warrant issuance costs |
830 | - | ||||||
Loss on warrants |
556 | - | ||||||
Adjusted EBITDA |
$ | (3,530 | ) | $ | (4,448 | ) | ||
GAAP net loss attributable to common stockholders per share, basic and diluted |
$ | (0.36 | ) | $ | (17.83 | ) | ||
Deemed dividend on convertible preferred stock |
- | - | ||||||
GAAP net loss per share, basic and diluted |
$ | (0.36 | ) | $ | (17.83 | ) | ||
Adjustments: |
||||||||
Interest expense, net |
0.03 | 1.76 | ||||||
Income tax provision |
- | - | ||||||
Depreciation |
0.04 | 0.45 | ||||||
Severance expense |
0.01 | - | ||||||
Change in allowance for doubtful accounts |
- | (0.05 | ) | |||||
Stock-based and other non-cash compensation |
0.01 | 2.11 | ||||||
Stock warrant issuance costs |
0.05 | - | ||||||
Loss on warrants |
0.02 | - | ||||||
Adjusted EBITDA per share, basic and diluted |
$ | (0.20 | ) | $ | (13.56 | ) | ||
| 三個月已結束 | ||||||||
| 3月31日 | ||||||||
| 2024 | 2023 | |||||||
歸屬於普通股股東的GAAP淨虧損 |
$ | (6,485) | ) | $ | (5,849) | ) | ||
可轉換優先股的視作股息 |
- | - | ||||||
GAAP 淨虧損 |
$ | (6,485) | ) | $ | (5,849) | ) | ||
調整： |
||||||||
利息支出，淨額 |
622 | 577 | ||||||
所得稅條款 |
19 | 1 | ||||||
折舊 |
660 | 149 | ||||||
遣散費 |
182 | - | ||||||
可疑賬款備抵的變化 |
(27) | ) | (17) | ) | ||||
股票補償和其他非現金薪酬 |
113 | 691 | ||||||
股票認股權證發行成本 |
830 | - | ||||||
認股權證損失 |
556 | - | ||||||
調整後 EBITDA |
$ | (3,530) | ) | $ | (4,448) | ) | ||
歸屬於普通股股東的GAAP淨虧損 每股，基本和攤薄後 |
$ | (0.36 | ) | $ | (17.83) | ) | ||
可轉換優先股的視作股息 |
- | - | ||||||
GAAP 每股淨虧損，基本虧損和攤薄後 |
$ | (0.36 | ) | $ | (17.83) | ) | ||
調整： |
||||||||
利息支出，淨額 |
0.03 | 1.76 | ||||||
所得稅條款 |
- | - | ||||||
折舊 |
0.04 | 0.45 | ||||||
遣散費 |
0.01 | - | ||||||
可疑賬款備抵的變化 |
- | (0.05) | ) | |||||
股票補償和其他非現金薪酬 |
0.01 | 2.11 | ||||||
股票認股權證發行成本 |
0.05 | - | ||||||
認股權證損失 |
0.02 | - | ||||||
調整後的每股息稅折舊攤銷前利潤，基本和攤薄後 |
$ | (0.20) | ) | $ | (13.56) | ) | ||
SOURCE: BIOLASE, Inc.
資料來源：BIOLASE, Inc.
譯文內容由第三人軟體翻譯。