Milestone Scientific (MLSS) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue increased 25% year-over-year to $2.3 million, driven by strong international dental sales and disciplined cost management.

• New CEO Eric Hines, SVP Jason Papes, and a new board member joined to support growth and bring experience in scaling healthcare and technology businesses.

• Focus on accelerating growth in both dental and medical segments, leveraging new leadership, federal contracts, and insurance coverage.

• Cash and cash equivalents at June 30, 2025, were $1.3 million, with working capital of $3.9 million.

• Substantial doubt exists about the ability to continue as a going concern without additional capital.

Financial highlights

• Q2 2025 revenue was $2.3 million, up from $1.85 million in Q2 2024; six-month revenue was $4.6 million, up from $4.1 million.

• Gross profit for Q2 2025 was $1.6 million, with a gross margin of 70%; six-month gross profit was $3.27 million.

• Operating loss for Q2 2025 narrowed to $1.5 million from $1.8 million year-over-year.

• Net loss for Q2 2025 was $1.5 million, or $0.02 per share, compared to a net profit in Q2 2024 due to a $2.0 million NOL sale gain.

• Cash used in operations for the six months ended June 30, 2025, was $2.8 million.

Outlook and guidance

• Emphasis on focused expansion in dental and medical markets, with disciplined investment in reimbursement, data collection, and insurance coverage.

• Management is seeking additional funding through equity or debt to support operations.

• Plans to broaden federal presence, expand international distribution, and deepen insurance coverage for medical products.

• International growth expected to remain lumpy due to large, infrequent orders.

• Continued efforts to achieve profitability and positive cash flow from operations.