Milestone Scientific reports 2023 EPS (10c) vs. (12c) last year

Reports revenue $9.9M vs. $8.8M last year. Arjan Haverhals, CEO and President of Milestone Scientific, stated, “We achieved solid financial results in 2023, with revenue increasing 11.6% and gross profit increasing 39%. We attribute this performance to the success of our new online sales portal for the STA Single Tooth Anesthesia System in the U.S., which has enhanced our margins, while providing us a closer relationship with our dental customers. While this was a transitional year, having terminated our prior exclusive distributor at the end of 2022, we are confident the new strategy is working and anticipate continued growth through our direct sales model. Importantly, this approach has proven effective within both individual practices, as well as Dental Service Organizations and large group practices. The direct sales model not only provides us greater interaction with the customer, but we are also able to provide ongoing support and education for both large and small practices. In turn, this has helped attract premier customers such as Maine Dental Group and Meridian Endo & Perio. These latest additions illustrate the benefits of our new sales strategy, as well as our ability to cost-effectively scale the business through the addition of large dental practices. Although our primary focus in 2023 was on the domestic front, we have renewed our international focus heading into 2024.”