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Milestone Scientific Inc (MLSS)
:MLSS
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Milestone Scientific
(NYSE MKT:MLSS)
Rating:48Neutral
Price Target:―
Positive Factors
Financial Health
Milestone Scientific ended with $2.2 million in cash and no debt, indicating strong financial health.
Market Expansion
The company plans to seek reimbursement from private payors, expanding the total available market to nine million procedures.
Technological Innovation
Milestone Scientific's proprietary, computer-controlled injection system for epidural steroid injections is being introduced into the pain management market, offering an attractive value proposition.
Negative Factors
Medicare Coverage
Milestone Scientific continues to make progress in the Medicare market segment for pain management with its CompuFlo System, having won coverage from three of the 12 Medicare Administrative Contractors.
Reimbursement Challenges
Milestone has obtained formal reimbursement from 3 of the 12 Medicare Administrative Contractors, covering about one-third of the Medicare market.
Milestone Scientific (MLSS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.40M
Dividend YieldN/A
Average Volume (3M)65.72K
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth-9.13%
EPS Growth30.04%
CountryUS
Employees17
SectorHealthcare
Sector Strength44
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.02
Shares Outstanding78,477,320
10 Day Avg. Volume84,976
30 Day Avg. Volume65,716
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)16.03
Price to Sales (P/S)0.00
P/FCF Ratio-25.85
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue2.42
Enterprise Value/Gross Profit12.19
Enterprise Value/Ebitda-2.89
Forecast
1Y Price Target
$1.25Price Target Upside26.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Milestone Scientific Business Overview & Revenue Model
Company DescriptionMilestone Scientific Inc. designs, develops, and commercializes diagnostic and therapeutic injection technologies, and devices for medical, dental, and cosmetic use in the United States, China, and internationally. The company operates in two segments, Dental and Medical. Its products include CompuDent and STA Single Tooth Anesthesia System that are used for all dental procedures that require local anesthetic. The company also offers CompuFlo, a computer-controlled drug delivery system for the painless delivery of drugs, anesthetics, and other medicaments, as well as for the aspiration of bodily fluids or previously injected substances; and disposable injection handpiece for the tactile control during the injection. In addition, it provides CompuFlo Epidural, a computer controlled anesthesia system for use in various medical applications. Further, the company offers CompuMed for use in various medical procedures performed in plastic, hair restoration, and colorectal surgery, as well as podiatry, dermatology, orthopedics, and various other disciplines. Milestone Scientific Inc. was incorporated in 1989 and is headquartered in Livingston, New Jersey.
How the Company Makes MoneyMilestone Scientific generates revenue primarily through the sale of its proprietary drug delivery systems and related disposable components. The company's main revenue streams include direct sales to dental and medical professionals, as well as sales through distribution partners. Milestone Scientific also engages in strategic partnerships and licensing agreements to expand the reach of its technology and to enter new markets. Additionally, the company may generate revenues from ongoing research and development initiatives that lead to new product offerings or enhancements to existing products.
Milestone Scientific Financial Statement Overview
Summary
Milestone Scientific demonstrates strong gross profit margins and low leverage, but persistent net losses and negative cash flows highlight ongoing financial challenges. The company needs to enhance revenue growth and improve operational efficiencies to achieve profitability and strengthen its financial position.Income Statement
Milestone Scientific shows a declining revenue trend with a steep drop of 34.52% from 2023 to 2024. Gross profit margins are strong at 100% for 2024, indicating effective cost control. However, the net profit margin remains negative due to consistent operating losses, despite slight improvements in EBIT and EBITDA margins.45
Neutral
Balance Sheet
The company's debt-to-equity ratio is low at 0.06, indicating minimal leverage, a positive sign of financial stability. However, the return on equity remains negative, reflecting ongoing losses. Equity ratio remains robust, showcasing a solid foundation of equity in its asset base.50
Neutral
Cash Flow
Operating cash flow has improved from a severe deficit but remains negative, showing challenges in generating cash from core operations. Free cash flow is also negative, indicating a strain on liquidity. Positive investing cash flow suggests asset divestment or reduced investment, which could impact future growth.40
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 6.38M | 8.63M | 9.83M | 8.81M | 10.30M | 5.44M | Gross Profit |
| 6.41M | 6.43M | 6.79M | 4.90M | 6.31M | 3.62M | EBIT |
| -7.29M | -6.76M | -7.11M | -8.83M | -7.38M | -7.45M | EBITDA |
| -7.20M | -6.72M | -6.96M | -8.68M | -7.30M | -7.36M | Net Income Common Stockholders |
| -5.27M | -4.71M | -6.93M | -8.71M | -7.12M | -7.49M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.25M | 3.26M | 5.95M | 8.72M | 14.76M | 14.22M | Total Assets |
| 9.09M | 9.80M | 11.37M | 13.70M | 19.81M | 19.57M | Total Debt |
| 318.70K | 349.05K | 395.98K | 497.04K | 586.59K | 942.60K | Net Debt |
| -1.93M | -2.91M | -2.58M | -8.22M | -14.18M | -13.28M | Total Liabilities |
| 4.63M | 3.96M | 3.36M | 3.70M | 3.59M | 3.46M | Stockholders Equity |
| 4.46M | 5.83M | 8.01M | 10.23M | 16.37M | 16.20M |
| Cash Flow | Free Cash Flow | ||||
| -2.71M | -2.93M | -5.33M | -6.04M | -4.03M | -7.01M | Operating Cash Flow |
| -2.71M | -2.92M | -5.33M | -6.03M | -4.02M | -6.98M | Investing Cash Flow |
| -2.01M | 2.97M | -2.97M | -8.53K | -15.19K | -21.44K | Financing Cash Flow |
| -8.96K | 233.77K | 2.56M | -8.54K | 4.57M | 19.71M |
Milestone Scientific Technical Analysis
Positive
0.99
Price Trends
0.95
Positive
1.03
Negative
0.96
Positive
Market Momentum
<0.01
Negative
52.62
Neutral
83.30
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLSS, the sentiment is Positive. The current price of 0.99 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 0.95, and above the 200-day MA of 0.96, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.62 is Neutral, neither overbought nor oversold. The STOCH value of 83.30 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MLSS.
Milestone Scientific Risk Analysis
Milestone Scientific disclosed 34 risk factors in its most recent earnings report. Milestone Scientific reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
Item 1C. Cybersecurity Q3, 2024
2.
Item1B. Unresolved Staff Comments Q3, 2024
Milestone Scientific Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $128.37M | 41.55 | 5.94% | ― | 7.98% | 3304.55% | |
61 Neutral | $136.12M | ― | -29.87% | ― | 19.65% | 60.28% | |
53 Neutral | $5.24B | 3.07 | -43.58% | 2.80% | 16.87% | -0.11% | |
48 Neutral | $82.40M | ― | -88.36% | ― | -9.13% | 30.04% | |
44 Neutral | $14.87M | ― | -138.80% | ― | -14.41% | -549.88% | |
| $95.31M | ― | -66.48% | ― | ― | ― | ||
46 Neutral | $52.37M | ― | -354.27% | ― | -14.55% | 34.87% |
* Healthcare Sector Average
Performance Comparison
MLSS
Milestone Scientific
0.99
0.22
28.57%
HBIO
Harvard Bioscience
0.33
-2.97
-90.00%
INFU
InfuSystem Holdings
6.05
-1.11
-15.50%
MBOT
Microbot Medical
2.54
1.46
135.19%
KRMD
REPRO-MED Systems
2.80
0.57
25.56%
AKYA
Akoya Biosciences
1.30
-0.98
-42.98%
Milestone Scientific Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q3-2024)
| % Change Since: 6.45%|
Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with significant revenue growth in the third quarter, strong gross margins, and strategic progress in the medical division with Medicare Part B alignment. However, concerns remain with the lack of revenue from China and an overall revenue decline over the nine-month period. Despite these challenges, the company seems well-positioned for future growth, particularly in international markets.Q3-2024 Updates
Positive Updates
Significant Revenue Growth
Milestone Scientific achieved a 22% increase in year-over-year revenue, reaching $2.5 million, driven by strong growth in the Dental division and a 57% increase in international dental sales.
Strong Gross Margin
Gross margins remained high at 73%, indicating strong profitability from operations.
Medicare Part B Assignment for CompuFlo
The CompuFlo Epidural System received a Medicare Part B physician payment rate assignment, increasing its adoption in clinics such as Hudson Specialty Care and iHealPain Center.
Expansion into International Markets
Regulatory approval was secured in Brazil for the CompuFlo system, opening a significant market opportunity with over 2.8 million births annually.
Improvement in Operating Loss
Operating loss decreased by $38,000 compared to the previous year, showing financial management improvements.
Negative Updates
No Revenue from China
The company recorded no revenue from China for the three months ending September 30, 2024, indicating challenges in that market.
Overall Revenue Decline for Nine Months
Revenue for the nine months ending September 30, 2024, was $6.6 million, down from $7.6 million for the same period in 2023.
International Revenue Decrease Over Nine Months
International revenue decreased by $0.6 million for the nine months ending September 30, 2024, compared to the same period in 2023, due to freight forward carrier issues.
Company Guidance
In the Q3 2024 earnings call for Milestone Scientific (MLSS), the company reported a 22% year-over-year revenue increase to $2.5 million, driven by a 57% rise in international dental sales and a successful shift to an e-commerce sales model domestically. Gross margins remained high at 73%. The medical division made progress with the CompuFlo Epidural System, benefiting from a Medicare Part B payment rate assignment across several regions, including New Jersey, Texas, and Florida. The company highlighted a significant market opportunity with 3 million epidural procedures annually in these regions, representing a $250 million market potential. Additionally, the company secured regulatory approval in Brazil, targeting over 2.8 million annual births and a substantial population with chronic back pain, marking a promising growth avenue for the company. Internationally, MLSS is expanding its reach through partnerships with distributors in key markets. The call also noted a 11.4% growth in the U.S. e-commerce dental business over nine months, and the company maintained a strong balance sheet with $4.8 million in cash and no long-term debt.Milestone Scientific Corporate Events
Executive/Board Changes
Milestone Scientific Appoints New Independent Director
Positive
May 19, 2025
On May 14, 2025, Milestone Scientific Inc. appointed Shanth Thiyagalingam as an independent director. Thiyagalingam, currently CEO of PainTEQ, has extensive experience in the medical device industry, having held leadership roles at Abbott Laboratories and Nevro Corporation. The appointment, announced on May 19, 2025, is expected to strengthen the company’s board with Thiyagalingam’s expertise in medical equipment and healthcare.
The most recent analyst rating on (MLSS) stock is a Buy with a $1.25 price target. To see the full list of analyst forecasts on Milestone Scientific stock, see the MLSS Stock Forecast page.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.