Milestone Scientific Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $1.15 million, a decrease from a net loss of $1.46 million in the same period last year. For the nine months ending September 30, 2025, the company recorded a net loss of $4.63 million, compared to a loss of $2.68 million for the same period in 2024. Product sales for the third quarter totaled $2.36 million, down from $2.51 million in the prior year, while year-to-date sales increased slightly to $6.92 million from $6.62 million.
The company's total assets decreased to $8.49 million as of September 30, 2025, from $9.80 million at the end of 2024. Current liabilities rose significantly to $5.93 million, up from $3.96 million, primarily due to increased accounts payable and accrued expenses. The accumulated deficit also widened to $132.68 million from $128.05 million. Cash and cash equivalents fell to $1.35 million from $3.26 million, indicating a need for additional funding to support ongoing operations.
Milestone Scientific has been focusing on expanding its product offerings and market reach. The company launched an e-commerce platform in January 2023, which accounted for 43% of net product sales in the third quarter of 2025. The company continues to pursue international sales, with its dental devices marketed in the U.S., Canada, and 49 other countries. However, the adoption of its medical products, particularly the CompuFlo Epidural Computer Controlled Anesthesia System, has been slower than anticipated, leading to a $1.1 million allowance for slow-moving medical inventory.
Looking ahead, Milestone Scientific acknowledges the challenges it faces, including the need for additional capital to sustain operations and the potential impact of market conditions on product acceptance. The company plans to seek funding through equity or debt financing to support its operational strategy. Management remains focused on increasing revenue from its dental and medical segments while reducing operating expenses. However, there is substantial doubt about the company's ability to continue as a going concern for the next year without securing additional funding.
About MILESTONE SCIENTIFIC INC.
Milestone Scientific specializes in developing proprietary, computer-controlled drug delivery devices utilizing DPS Dynamic Pressure Sensing Technology. Its core products include pain-free dental anesthesia systems and epidural anesthesia devices, serving dental and medical markets worldwide. The company emphasizes safety, precision, and patient comfort, with regulatory approvals and patents supporting its innovative solutions. Its business model relies on licensing, distribution, and direct sales of advanced injection systems.
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