Milestone Scientific (MLSS) Q4 2024 earnings summary

Executive summary

• Milestone Scientific develops and markets computer-controlled injection technologies for dental and medical use, focusing on its proprietary DPS Dynamic Pressure Sensing Technology platform.

• The company operates in two segments: Dental (mainly the STA Single Tooth Anesthesia System) and Medical (CompuFlo Epidural System), with global sales in over 41 countries.

• In 2024, the company continued to expand its product applications, received regulatory approvals in Brazil, and secured favorable Medicare reimbursement assignments in several U.S. jurisdictions.

• Leadership transitioned at year-end 2024, with Neal Goldman becoming Interim CEO following Arjan Haverhals' retirement.

Financial highlights

• Net sales for 2024 were $8.6 million, down from $9.8 million in 2023, mainly due to lower international and China sales.

• Gross profit for 2024 was $6.4 million (74% dental gross margin), a decrease of $358,000 year-over-year.

• Operating loss improved to $6.8 million in 2024 from $7.1 million in 2023, driven by reduced SG&A expenses.

• Net loss attributable to Milestone Scientific was $4.7 million in 2024, compared to $6.9 million in 2023.

• Cash and cash equivalents at year-end 2024 were $3.3 million, with working capital of $5.5 million.

• The company received $2.0 million from the sale of New Jersey NOLs in 2024.

Outlook and guidance

• Management plans to increase revenues and reduce professional and consulting fees over the next twelve months.

• Research and development on the next-generation STA instrument has been delayed to conserve cash.

• April 2025 financing of $800,000 in convertible notes from directors is expected to support operations for the next year.