MILESTONE SCIENTIFIC INC. MLSS
Scientific Inc. was incorporated in the State of Delaware in August 1989. The Company develops and commercializes proprietary computer-controlled
drug delivery systems designed to enhance the safety, precision, and patient experience associated with subcutaneous injections and fluid
aspiration procedures.
Company's core technology platform, Dynamic Pressure Sensing® ("DPS") Technology, controls flow rate and measures
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Dental Segment
- Medical Segment
| Segment | FY2025 |
|---|---|
| Dental Segment | $8.8M |
| Medical Segment | $183.2K |
As the company reported it, from the “SCHEDULE OF REPORTABLE AND OPERATING SEGMENTS (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $8.6M | $9.8M | $8.8M | $10.3M | $5.4M | $8.4M | $9.6M | $11.3M | $10.5M |
| Cost of revenue | $2.6M | $2.2M | $3.0M | $3.9M | $4.0M | $1.8M | $2.7M | $5.2M | $4.3M | $4.2M |
| Gross profit | $6.4M | $6.4M | $6.8M | $4.9M | $6.3M | $3.6M | $5.7M | $4.4M | $7.0M | $6.3M |
| R&D | $449.5K | $858.8K | $701.4K | $1.2M | $878.2K | $307.9K | $189.9K | $245.6K | $272.7K | $1.3M |
| SG&A | $11.6M | $12.3M | $13.1M | $12.5M | $12.7M | $10.7M | $9.5M | $10.6M | $11.9M | $11.5M |
| Total operating expenses | $12.1M | $13.2M | $13.9M | $13.7M | $13.7M | $11.1M | $9.7M | $12.4M | $12.2M | $12.8M |
| Operating income | -$5.7M | -$6.8M | -$7.1M | -$8.8M | -$7.4M | -$7.5M | -$4.0M | -$8.0M | -$5.2M | -$6.5M |
| Interest expense | — | $60.3K | $125.5K | $54.6K | $16.4K | $18.1K | $1.5K | $7.4K | — | — |
| Pre-tax income | -$5.7M | -$4.7M | -$7.0M | -$8.8M | -$7.1M | -$7.5M | -$7.6M | -$8.0M | -$5.2M | -$6.5M |
| Income tax | — | — | $0 | $0 | $333 | $15.5K | $18.1K | $24.0K | $19.1K | $19.1K |
| Net income | $5.7M | $4.7M | $6.9M | -$8.7M | -$6.8M | -$7.3M | -$7.5M | -$7.4M | -$5.2M | -$5.9M |
| EPS, basic | -0.07 | -0.06 | -0.10 | -0.12 | -0.10 | -0.12 | -0.16 | -0.21 | -0.16 | -0.22 |
| EPS, diluted | -0.07 | -0.06 | — | — | -0.10 | -0.12 | -0.16 | -0.21 | -0.16 | -0.22 |
| Shares, diluted (wtd. avg.) | 82.1M | 79.8M | 72.8M | 70.6M | 68.8M | 63.1M | 45.7M | 35.3M | 32.7M | 27.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.1M | $3.3M | $3.0M | $8.7M | $14.8M | $14.2M | $1.5M | $743.4K | $2.6M | $3.6M |
| Short-term investments | — | $0 | $3.0M | $0 | $14.8M | $13.1M | $302.0K | — | — | — |
| Receivables | — | $475.4K | $312.7K | $693.7K | $943.3K | $1.1M | $1.7M | $2.0M | $1.5M | $802.4K |
| Inventory | $3.8M | $3.7M | $2.6M | $1.8M | $1.5M | $2.4M | $1.6M | $1.9M | $3.4M | $4.6M |
| Total current assets | $7.5M | $9.3M | $10.8M | $13.0M | $18.9M | $18.6M | $6.1M | $5.9M | $12.0M | $13.3M |
| Property, plant and equipment | $19.2K | $12.9K | $10.0K | $18.1K | $23.7K | $30.7K | $45.0K | $82.6K | $141.8K | $159.0K |
| Other intangibles | $79.1K | $148.4K | $178.6K | $228.0K | $277.6K | $329.2K | $382.3K | $435.3K | $2.8M | $660.5K |
| Total assets | $7.8M | $9.8M | $11.4M | $13.7M | $19.8M | $19.6M | $6.6M | $6.4M | $15.6M | $14.2M |
| Accounts payable | — | — | — | $1.1M | $780.4K | $483.0K | $1.4M | $1.1M | $977.6K | $1.3M |
| Total current liabilities | $4.1M | $3.7M | $3.1M | $3.3M | $3.1M | $2.9M | $4.9M | $4.9M | $6.7M | $5.6M |
| Total liabilities | $5.0M | $4.0M | $3.4M | $3.7M | $3.6M | $3.5M | $4.9M | $4.9M | $8.1M | $5.6M |
| Retained earnings | -$133.8M | -$128.1M | -$123.3M | -$116.4M | -$107.7M | -$100.9M | -$93.5M | -$86.0M | -$78.6M | -$73.4M |
| Total equity | $2.8M | $5.8M | $8.0M | $10.0M | $16.2M | $16.1M | $1.6M | $1.5M | $7.5M | $8.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$2.9M | -$2.9M | -$5.3M | -$6.0M | -$4.0M | -$7.0M | -$1.8M | -$1.6M | -$1.2M | -$5.4M |
| Depreciation and amortisation | $8.9K | $7.2K | $13.0K | $63.8K | $73.8K | $95.9K | $100.5K | $881.3K | $573.1K | $92.7K |
| Stock-based compensation | $952.7K | $1.3M | $1.5M | $1.5M | $790.9K | $550.3K | $183.9K | $409.0K | $651.4K | $1.9M |
| Capital expenditure | $15.1K | $10.1K | — | $8.5K | $15.2K | $21.4K | $9.9K | $7.4K | $6.0K | $15.3K |
| Investing cash flow | -$15.1K | $3.0M | -$3.0M | -$8.5K | -$15.2K | -$21.4K | -$9.9K | -$15.4K | -$199.2K | $8.2K |
| Financing cash flow | $786.3K | $233.8K | $2.6M | -$8.5K | $4.6M | $19.7M | $2.6M | -$250.0K | $463.3K | $4.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-029558.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.5M | $11.3M | $9.6M | $8.4M | $5.4M | $10.3M | $8.8M | $9.8M | $8.6M | $9.0M |
| Gross profit | $6.3M | $7.0M | $4.4M | $5.7M | $3.6M | $6.3M | $4.9M | $6.8M | $6.4M | $6.4M |
| Net income | -$5.9M | -$5.2M | -$7.4M | -$7.5M | -$7.3M | -$6.8M | -$8.7M | $6.9M | $4.7M | $5.7M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Officer or director change Item 5.02
- Material agreement signed Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Material agreement signed Item 1.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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