Milestone Scientific (MLSS) investor relations material

Executive summary

• Q3 2025 revenue was $2.4 million, down 6% year-over-year, mainly due to lower international and e-commerce dental sales, partially offset by resumed China sales and modest institutional growth.

• Net loss for Q3 2025 was $1.15 million ($0.01/share), improved from $1.46 million ($0.02/share) in Q3 2024, driven by reduced SG&A and R&D expenses.

• Operating expenses were reduced by over $500,000 year-over-year through cost management and restructuring.

• Nine-month revenue increased 5% year-over-year to $6.9 million, with growth in international and medical sales offsetting declines in e-commerce and institutional dental revenue.

• Focused on expanding dental and medical device businesses, advancing reimbursement strategies for CompuFlow, and strengthening commercial execution.

Financial highlights

• Q3 2025 revenue: $2.4 million; nine-month revenue: $6.9 million.

• Q3 2025 gross profit: $1.64 million (70% margin), down 11% year-over-year; nine-month gross profit: $4.91 million, stable year-over-year.

• SG&A expenses for Q3 2025 were $2.74 million; R&D expenses were $16,000.

• Operating loss for Q3 2025 improved to $1.13 million from $1.47 million in Q3 2024.

• Cash and cash equivalents as of September 30, 2025, were $1.3 million, with working capital of $3.1 million.

Outlook and guidance

• Expects operational transformation to yield improved margins, continued revenue stability, and long-term value creation.

• No expectation of significant seasonality or a Q4 revenue spike; business expected to remain steady.

• Management is seeking additional funding through equity or debt due to substantial doubt about the ability to continue as a going concern.

• Focused on expanding sales infrastructure and commercial rollout of CompuFlow, with a data-driven approach to Medicare and commercial payer engagement.