Milestone Scientific Reports Q1 2025 Financial Results with $2.2M Revenue and Increased Net Loss

Milestone Scientific Inc. reported its financial results for the first quarter of 2025, revealing a net revenue of approximately $2.2 million, a slight decrease of $16,425 compared to $2.25 million in the same period of 2024. The company's product sales were primarily driven by its dental segment, which generated $2.18 million, while the medical segment contributed $51,250. The gross profit for the quarter was approximately $1.65 million, down from $1.68 million year-over-year, reflecting a decrease in both product sales and gross margin.

The company's operating expenses increased to $3.65 million from $3.14 million in the prior year, primarily due to a significant rise in research and development expenses, which surged to $369,120 from $94,211. This increase is attributed to the ongoing development of the next-generation STA Single Tooth Anesthesia System. Selling, general, and administrative expenses also rose to $3.26 million, up from $3.04 million, driven by higher professional fees and other operational costs.

Milestone Scientific's net loss for the quarter was approximately $1.99 million, compared to a loss of $1.44 million in the same quarter of 2024. The loss per share remained consistent at $0.02 for both periods. The company reported cash and cash equivalents of $2.25 million as of March 31, 2025, a decrease from $3.26 million at the end of 2024. The increase in accounts payable and accrued expenses indicates a shift in the company's liquidity position, raising concerns about its ability to sustain operations without additional funding.

In terms of strategic developments, Milestone Scientific has focused on expanding its e-commerce platform, which accounted for 50% of net product sales in the first quarter. The company has also received a chronology-specific CPT code from the American Medical Association, which is expected to enhance the adoption of its CompuFlo Epidural System in pain management clinics. This development is anticipated to facilitate reimbursement for epidural procedures, potentially increasing market penetration.

Looking ahead, Milestone Scientific aims to enhance its revenue generation through its dental and medical device segments while managing operational costs. The company is actively pursuing additional funding options to support its ongoing operations and product development initiatives. Management has expressed confidence that the existing cash reserves, along with recent financing efforts, will be sufficient to sustain operations for the next twelve months, despite the ongoing challenges in achieving profitability.