Milestone Scientific Delivers Stable Revenue and Reduces Operating Expenses by Over $500 Thousand in the Third Quarter of 2025
ROSELAND, N.J., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced financial results and provided a business update for the third quarter ended September 30, 2025, highlighting continued progress on the Company's transformation and growth initiatives.
Eric Hines, Chief Executive Officer of Milestone Scientific, stated, "During the third quarter, we made measurable progress executing our plan to build a leaner, more focused organization capable of sustained growth and improved profitability. Through disciplined cost management and operational restructuring, we reduced third-quarter operating expenses by over half a million dollars compared to the same period last year. At the same time, we delivered stable revenue performance while continuing to strengthen our underlying business fundamentals."
"Within our dental segment, we continued to expand our direct sales programs in North America and continued securing new international registrations for our STA® Single Tooth Anesthesia System. We also enhanced our omnichannel digital marketing strategy to drive broader brand visibility and recurring e-commerce sales. On the medical side, we are encouraged by growing utilization and recurring revenue from CompuFlo® disposables, as well as increasing interest from hospitals and international distributors."
"In parallel, we continue to advance our reimbursement strategy for CompuFlo®, building on recent progress in securing Medicare payment-rate assignments and expanding commercial coverage. These developments are key enablers for broader adoption in hospitals and pain-management settings. As we expand our institutional presence and align with payers, we believe reimbursement access will play an important role in driving the next phase of medical segment growth."
"Our operational transformation is well underway. We have strengthened our sales infrastructure, improved organizational alignment, and are prioritizing initiatives with the highest near-term return potential. Looking ahead, we expect these actions to translate into improved margins, continued revenue stability, and long-term value creation for our shareholders," concluded Hines.
Financial Results for the Three and Nine Months Ended September 30, 2025
For the three months ended September 30, 2025 and 2024, revenues were approximately $2.4 million and $2.5 million, respectively. The decrease in revenue was primarily attributable to lower domestic dental sales, partially offset by higher international dental sales and recurring medical revenue. Gross profit for the third quarter of 2025 was approximately $1.6 million, or 70% of revenue, compared to approximately $1.8 million, or 73% of revenue, for the same period in 2024. Operating loss for the three months ended September 30, 2025 was approximately $(1.1) million, compared to approximately $(1.5) million for the same period in 2024, an improvement of approximately $0.3 million, or 23%, primarily due to lower selling, general, and administrative expenses as a result of cost-reduction initiatives implemented during the quarter. Net loss for the three months ended September 30, 2025 was approximately $(1.2) million, or $(0.01) per share, compared to a net loss of $(1.5) million, or $(0.02) per share, for the comparable period in 2024.
For the nine months ended September 30, 2025 and 2024, revenues were approximately $6.9 million and $6.6 million, respectively, an increase of approximately $0.3 million, or 5%, driven by continued growth in international dental sales and higher recurring revenue from the Company's medical segment. Gross profit for the nine months ended September 30, 2025 was approximately $4.9 million, or 71% of revenue, compared to approximately $4.9 million, or 74% of revenue, for the same period in 2024. Operating loss for the nine months ended September 30, 2025 was approximately $(4.6) million, compared to approximately $(4.7) million for the same period in 2024. Net loss for the nine months ended September 30, 2025 was approximately $(4.6) million, or $(0.06) per share, compared to a net loss of $(2.7) million, or $(0.03) per share, for the comparable period in 2024.
As of September 30, 2025, the Company reported cash and cash equivalents of approximately $1.3 million and working capital of approximately $3.1 million.
Conference Call
Milestone Scientific's executive management team will host a conference call on Friday, November 14, 2025 at 8:30 AM Eastern Time to discuss the Company's financial results for the third quarter ended September 30, 2025, as well as the Company's corporate progress and other developments.
The conference call will be available via telephone by dialing toll free 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and by entering the access code: 164353. A webcast and replay of the call may be accessed at Webcast URL: https://www.webcaster5.com/Webcast/Page/2306/53250.
An audio replay of the call will be available through Friday, November 28, 2025, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and by entering the access code: 53250.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific's computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2024. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
Crescendo Communications, LLC
Email: [email protected]
Tel: 212-671-1020
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| MILESTONE SCIENTIFIC AND SUBSIDIARIES | ||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (UNAUDITED) | ||||||
| September 30, 2025 | December 31, 2024 | |||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 1,345,301 | $ | 3,258,058 | ||
| Accounts receivable, net of allowance for credit losses of $10,000, respectively | 706,924 | 475,376 | ||||
| Accounts receivable, related party | 9,612 | - | ||||
| Prepaid expenses and other current assets | 506,574 | 564,645 | ||||
| Inventories | 4,126,988 | 3,713,215 | ||||
| Advances on contracts | 1,414,702 | 1,275,260 | ||||
| Total current assets | 8,110,101 | 9,286,554 | ||||
| Furniture, fixtures and equipment, net | 18,254 | 12,921 | ||||
| Intangibles, net | 96,039 | 148,404 | ||||
| Right of use assets finance lease | 59,228 | 67,201 | ||||
| Right of use assets operating lease | 178,251 | 257,842 | ||||
| Other assets | 24,150 | 24,150 | ||||
| Total assets | $ | 8,486,023 | $ | 9,797,072 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 2,012,867 | $ | 1,021,393 | ||
| Accounts payable, related party | 1,027,360 | 493,313 | ||||
| Accrued expenses and other payables | 1,176,773 | 1,796,319 | ||||
| Accrued expenses, related party | 665,890 | 304,293 | ||||
| Current portion of finance lease liabilities | 23,919 | 12,530 | ||||
| Current portion of operating lease liabilities | 126,722 | 116,279 | ||||
| Total current liabilities | 5,033,531 | 3,744,127 | ||||
| Non-current portion of finance lease liabilities | 34,170 | 54,672 | ||||
| Non-current portion of operating lease liabilities | 68,927 | 165,573 | ||||
| Convertible notes payable, related parties | 800,000 | - | ||||
| Total liabilities | $ | 5,936,628 | $ | 3,964,372 | ||
| Commitments and contingencies | ||||||
| Stockholders' equity | ||||||
| Common stock, par value $0.001; authorized 100,000,000 shares; 78,592,480 shares issued and 78,559,147 shares outstanding as of September 30, 2025; 78,047,798 shares issued and 78,014,465 shares outstanding as of December 31, 2024; | 78,592 | 78,048 | ||||
| Additional paid in capital | 136,067,080 | 134,719,274 | ||||
| Accumulated deficit | (132,684,761 | ) | (128,053,106 | ) | ||
| Treasury stock, at cost, 33,333 shares | (911,516 | ) | (911,516 | ) | ||
| Total Milestone Scientific, Inc. stockholders' equity | 2,549,395 | 5,832,700 | ||||
| Total liabilities and stockholders' equity | $ | 8,486,023 | $ | 9,797,072 | ||
| MILESTONE SCIENTIFIC AND SUBSIDIARIES | ||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
| (UNAUDITED) | ||||||||||||
| Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | |||||||||
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |||||||||
| Product sales, net | $ | 2,360,117 | $ | 2,513,805 | $ | 6,916,003 | $ | 6,616,414 | ||||
| Cost of products sold | 719,247 | 677,585 | 2,010,092 | 1,692,888 | ||||||||
| Gross profit | 1,640,870 | 1,836,220 | 4,905,911 | 4,923,526 | ||||||||
| Selling, general and administrative expenses | 2,739,011 | 3,064,769 | 9,026,691 | 8,968,226 | ||||||||
| Research and development expenses | 16,226 | 232,056 | 437,135 | 641,235 | ||||||||
| Depreciation and amortization expense | 20,104 | 8,574 | 59,040 | 28,735 | ||||||||
| Total operating expenses | 2,775,341 | 3,305,399 | 9,522,866 | 9,638,196 | ||||||||
| Loss from operations | (1,134,471 | ) | (1,469,179 | ) | (4,616,955 | ) | (4,714,670 | ) | ||||
| Interest (expense) income, net | (19,488 | ) | 8,008 | (14,700 | ) | 53,513 | ||||||
| Gain on sale of net operating losses | - | - | - | 1,983,095 | ||||||||
| Loss before provision for income taxes | (1,153,959 | ) | (1,461,171 | ) | (4,631,655 | ) | (2,678,062 | ) | ||||
| Provision for income taxes | - | - | - | - | ||||||||
| Net loss | (1,153,959 | ) | (1,461,171 | ) | (4,631,655 | ) | (2,678,062 | ) | ||||
| Net loss per share applicable to common stockholders— | ||||||||||||
| Basic and Diluted | (0.01 | ) | (0.02 | ) | (0.06 | ) | (0.03 | ) | ||||
| Weighted average shares outstanding and to be issued— | ||||||||||||
| Basic and diluted | 82,322,910 | 79,966,833 | 82,008,336 | 80,165,181 | ||||||||
