Milestone Scientific Inc. (MLSS) Financial Statements
Industry: Orthopedic, Prosthetic & Surgical Appliances & Supplies
In fiscal 2025, Milestone Scientific reported revenue of $9.0M, up 4.0% from $8.6M the year before. Net income was -$5.7M (a -63.8% net margin), or -$0.07 per diluted share. Gross margin was 71.4% and operating margin was -63.5%. Operating activities generated -$2.9M of cash, leaving -$2.9M of free cash flow. At fiscal year end, Milestone Scientific held $7.8M in total assets against $5.0M in total liabilities, including $1.1M of cash and equivalents.
Open the full interactive Milestone Scientific financials → Quarterly statements, key ratios, valuation history and price charts.
Milestone Scientific Key Stats
| Share Price | $0.34 |
|---|---|
| Market Cap | $31.7M |
| Revenue YoY Growth | +4.0% |
| 52-Week Range | $0.25 – $0.55 |
| Shares Outstanding | 93.1 million (basic, 2026 Q2) |
Milestone Scientific Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.4M | $10.3M | $8.8M | $9.8M | $8.6M | $9.0M |
| Cost of Goods Sold | $1.8M | $4.0M | $3.9M | $3.0M | $2.2M | $2.6M |
| Gross Profit | $3.6M | $6.3M | $4.9M | $6.8M | $6.4M | $6.4M |
| Operating Income | -$7.5M | -$7.4M | -$8.8M | -$7.1M | -$6.8M | -$5.7M |
| Pre-Tax Income | -$7.5M | -$7.1M | -$8.8M | -$7.0M | -$4.7M | -$5.7M |
| Income Tax | $15,500 | $333 | $0 | $0 | — | — |
| Net Income | -$7.3M | -$6.8M | -$8.7M | -$6.9M | -$4.7M | -$5.7M |
| Diluted EPS | -$0.12 | -$0.10 | — | — | — | -$0.07 |
Milestone Scientific Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $2.4M | $2.1M | $2.2M | $2.8M |
| Net Income | -$1.2M | -$1.1M | -$839,853 | -$1.1M |
| Diluted EPS | -$0.01 | -$0.01 | -$0.01 | -$0.01 |
Milestone Scientific Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $14.2M | $14.8M | $8.7M | $3.0M | $3.3M | $1.1M |
| Current Assets | $18.6M | $18.9M | $13.0M | $10.8M | $9.3M | $7.5M |
| Total Assets | $19.6M | $19.8M | $13.7M | $11.4M | $9.8M | $7.8M |
| Current Liabilities | $2.9M | $3.1M | $3.3M | $3.1M | $3.7M | $4.1M |
| Total Long-Term Debt | — | — | — | — | — | $800,000 |
| Total Liabilities | $3.5M | $3.6M | $3.7M | $3.4M | $4.0M | $5.0M |
| Shareholders' Equity | $16.2M | $16.4M | $10.2M | $8.0M | $5.8M | $2.8M |
Milestone Scientific Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$7.0M | -$4.0M | -$6.0M | -$5.3M | -$2.9M | -$2.9M |
| Cash From Investing | -$21,438 | -$15,189 | -$8,527 | -$3.0M | $3.0M | -$15,124 |
| Cash From Financing | $19.7M | $4.6M | -$8,544 | $2.6M | $233,771 | $786,335 |
| Free Cash Flow | -$7.0M | -$4.0M | -$6.0M | -$5.3M | -$2.9M | -$2.9M |
Figures from Milestone Scientific's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Milestone Scientific financials page for every line item.
Milestone Scientific Company Profile
| Ticker | MLSS |
|---|---|
| Exchange | NYSE |
| Industry | Orthopedic, Prosthetic & Surgical Appliances & Supplies |
| Headquarters | Livingston, New Jersey |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000855683 |
Frequently Asked Questions
What was Milestone Scientific's revenue in fiscal 2025?
Milestone Scientific (MLSS) reported revenue of $9.0M for fiscal 2025.
What is Milestone Scientific's annual revenue history?
Milestone Scientific's annual revenue by fiscal year: 2020: $5.4M; 2021: $10.3M; 2022: $8.8M; 2023: $9.8M; 2024: $8.6M; 2025: $9.0M.
What was Milestone Scientific's net income in fiscal 2025?
Milestone Scientific reported net income of -$5.7M for fiscal 2025.
What was Milestone Scientific's earnings per share (EPS) in fiscal 2025?
Milestone Scientific's diluted EPS was -$0.07 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Milestone Scientific generate in fiscal 2025?
Milestone Scientific generated -$2.9M of free cash flow in fiscal 2025.
What was Milestone Scientific's revenue last quarter?
In its most recent reported quarter (2026 Q2), Milestone Scientific reported revenue of $2.8M.
How much debt does Milestone Scientific have?
Milestone Scientific reported $800,000 of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Milestone Scientific are outstanding?
Milestone Scientific reported a weighted average of 93.1 million basic shares outstanding in 2026 Q2.
What is Milestone Scientific's market cap?
Based on its latest closing price, Milestone Scientific (MLSS) has a market capitalization of about $31.7M.
When does Milestone Scientific's fiscal year end?
Milestone Scientific's fiscal year end, as registered with the SEC, is December 31.
Where is Milestone Scientific headquartered?
Milestone Scientific lists its business address in Livingston, New Jersey in its SEC filings.