Why BIOLASE Shares Are Surging Friday
Portfolio Pulse from Lekha Gupta
BIOLASE, Inc. (NASDAQ:BIOL) shares surged after reporting a smaller-than-expected Q4 FY23 EPS loss. Despite revenue slightly missing estimates, the company's outlook for FY24 is positive, with expected net revenue growth and positive adjusted EBITDA. BIOLASE's growth is attributed to increased adoption of its dental lasers and consumables. Investors can also gain exposure to BIOLASE through the Vanguard Extended Market ETF (NYSE:VXF).
March 22, 2024 | 3:13 pm
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POSITIVE IMPACT
BIOLASE reported a smaller-than-expected Q4 FY23 EPS loss and a positive outlook for FY24, with expected revenue growth and positive adjusted EBITDA.
The positive earnings report and optimistic outlook for FY24, including expected revenue growth and positive adjusted EBITDA, are likely to boost investor confidence in BIOLASE, leading to a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Investors can gain exposure to BIOLASE through the Vanguard Extended Market ETF (VXF), which includes BIOLASE in its holdings.
While BIOLASE's positive performance and outlook may indirectly benefit VXF due to its inclusion in the ETF's holdings, the direct impact on VXF's price is likely to be minimal given the diversified nature of the ETF.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50