Milestone Scientific Inc ( (MLSS) ) has released its Q3 earnings. Here is a breakdown of the information Milestone Scientific Inc presented to its investors.
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Milestone Scientific Inc. is a Delaware-based company specializing in computer-controlled anesthetic delivery devices for dental and medical applications, leveraging its proprietary Dynamic Pressure Sensing Technology®. In its latest quarterly earnings report, the company highlighted several financial metrics and strategic initiatives despite ongoing challenges. The company reported a net loss of $1.46 million for the third quarter of 2024, slightly better than the loss reported in the same period last year. However, sales increased to $2.51 million, reflecting a rise in product demand. Operating expenses remained high, primarily due to selling, general, and administrative costs and research and development investments. Notably, the company improved its cash position to $4.78 million by September 30, 2024, up from $2.98 million at the end of 2023, largely due to a public offering and exercising of warrants. Looking forward, Milestone Scientific’s management is focused on expanding revenue streams and reducing operational costs to achieve profitability, while seeking to strengthen its distribution channels in the U.S. and internationally.