What is Milestone Scientific, Inc.'s earnings per share (EPS)?

Milestone Scientific, Inc. (MLSS) reported diluted earnings per share of -$0.07 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Milestone Scientific, Inc. (MLSS) Financials

MLSS

Trailing 12 months to June 30, 2026

Revenue $9.4M +3.7% YoY

Net Income -$4.1M n/m YoY

EPS (Diluted) -$0.04 n/m YoY

Free Cash Flow -$658K YoY not available

Market Cap $28.1M as of Oct 22, 2026

Price / Sales 3.0x on $9.4M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 8.1x on $3.5M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 13, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MLSS SEC filings page.

Milestone Scientific, Inc. (MLSS) reported $9.4M in revenue over the twelve months to Jun 30, 2026, up 3.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MLSS FY2025 2026-10-22

Reported profits remain disconnected from cash generation, while shrinking equity and rising liabilities leave less balance-sheet cushion.

In FY2025, reported net income was $5.7M while operating income was a loss of $5.7M. Operating cash flow was -$2.9M, showing that the reported bottom-line gain did not translate into cash from operations.

A 71.4% gross margin was overwhelmed by SG&A at 129.0% of revenue, so gross profit remains insufficient to fund the operating cost base. The operating loss narrowed from $6.8M in FY2024 to $5.7M in FY2025 as SG&A declined, pointing to cost reduction rather than scale absorption.

From FY2022 to FY2025, revenue increased 1.9% while inventory increased 111.0%, suggesting more capital is tied up in stock without comparable sales expansion. FY2025 liabilities were $5.0M against $7.8M of assets, leaving a more liability-heavy structure and a current ratio of 1.8x.

Financial Health Signals

Financial Health Score 40/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Milestone Scientific, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

Milestone Scientific, Inc. held $1.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $2.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Milestone Scientific, Inc. scores 18/100 among other emerging companies.

Dilution

Milestone Scientific, Inc. had 80M shares outstanding at the end of fiscal year 2025, against 78M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Milestone Scientific, Inc. scores 64/100 among other emerging companies.

R&D Intensity

Milestone Scientific, Inc. spent $449K on research and development in fiscal year 2025, which was 3.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Milestone Scientific, Inc. scores 19/100 among other emerging companies.

Revenue Progress

Milestone Scientific, Inc. reported revenue of $9.0M in fiscal year 2025, against $8.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Milestone Scientific, Inc. scores 38/100 among other emerging companies.

Burn Trend

Milestone Scientific, Inc.'s operations used $2.9M of cash in fiscal year 2025, against $2.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Milestone Scientific, Inc. scores 72/100 among other emerging companies.

Balance Sheet

Milestone Scientific, Inc.'s cash, cash equivalents and investments came to $1.1M at the end of fiscal year 2025, against $5.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Milestone Scientific, Inc. scores 29/100 among other emerging companies.

Altman Z-Score Distress

-21.36

Milestone Scientific, Inc. scores -21.36, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $133.8M against total assets of $7.8M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/8

Milestone Scientific, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 operating efficiency signals passes.

Earnings Quality No Cash Backing

N/A

Milestone Scientific, Inc. reported a net loss of $5.7M while operations used $2.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Milestone Scientific, Inc. reported an operating loss of $5.7M against $26K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.8M

YoY+22.3%

QoQ+31.4%

5Y CAGR+3.2%

10Y CAGR+1.8%

Milestone Scientific, Inc. generated $2.8M in revenue in Q2 2026. This represents an increase of 22.3% from the same quarter a year earlier. Against the prior quarter it is up 31.4%.

EBITDA

-$1.0M

YoYn/m

QoQn/m

5Y CAGRn/m

10Y CAGRn/m

Milestone Scientific, Inc.'s EBITDA was -$1.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Net Income

-$1.1M

YoYn/m

QoQn/m

5Y CAGRn/m

10Y CAGRn/m

Milestone Scientific, Inc. reported a net loss of $1.1M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)

-$0.01

YoYn/m

QoQn/m

Milestone Scientific, Inc. earned -$0.01 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Balance Sheet

Free Cash Flow

-$589K

YoYn/m

QoQ-791.5%

Milestone Scientific, Inc. recorded an outflow of $589K in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 791.5%.

Cash & Debt

$2.1M

YoY+62.2%

QoQ+72.2%

5Y CAGR-33.6%

10Y CAGR-4.2%

Milestone Scientific, Inc. held $2.1M in cash against $466K in long-term debt as of Q2 2026.

Shares Outstanding

89M

YoY+13.0%

QoQ+10.3%

Milestone Scientific, Inc. had 89M shares outstanding in Q2 2026. This represents an increase of 13.0% from the same quarter a year earlier. Against the prior quarter it is up 10.3%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

67.2%

YoY-2.4pp

QoQ-5.1pp

5Y change+10.8pp

10Y change+0.5pp

Milestone Scientific, Inc.'s gross margin was 67.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.1 percentage points.

Operating Margin

-37.4%

YoY+26.5pp

QoQ+0.9pp

10Y change+47.7pp

Milestone Scientific, Inc.'s operating margin was -37.4% in Q2 2026, reflecting core business profitability. This is up 26.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.

Net Margin

-37.3%

YoY+26.5pp

QoQ+1.6pp

10Y change+29.6pp

Milestone Scientific, Inc.'s net profit margin was -37.3% in Q2 2026, showing the share of revenue converted to profit. This is up 26.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.

Return on Equity

-30.5%

YoY+13.9pp

QoQ+6.2pp

5Y change-15.4pp

Milestone Scientific, Inc.'s quarterly ROE was -30.5% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 13.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.2 percentage points.

Capital Allocation

R&D Spending

$7K

YoY-87.2%

Milestone Scientific, Inc. invested $7K in research and development in Q2 2026. This represents a decrease of 87.2% from the same quarter a year earlier.

Capital Expenditures

$4K

YoY-7.4%

QoQ+153.6%

Milestone Scientific, Inc. invested $4K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 7.4% from the same quarter a year earlier. Against the prior quarter it is up 153.6%.

Share Buybacks

Not reported for Q2 2026.

MLSS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MLSS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$9.4M	$9.0M+4.0%	$8.6M-12.2%	$9.8M+11.6%	$8.8M-14.5%	$10.3M+89.5%	$5.4M-35.1%	$8.4M-13.0%	$9.6M-14.7%	$11.3M+7.6%	$10.5M+10.4%	$9.5M-8.1%	$10.3M+3.2%	$10.0M+15.8%	$8.6M+3.2%	$8.4M
Cost of Revenue	$2.8M	$2.6M+16.9%	$2.2M-27.7%	$3.0M-22.3%	$3.9M-2.2%	$4.0M+119.9%	$1.8M-31.6%	$2.7M-48.8%	$5.2M+20.4%	$4.3M+3.3%	$4.2M+37.0%	$3.0M-16.0%	$3.6M+13.5%	$3.2M+4.7%	$3.1M+1.3%	$3.0M
Gross Profit	$6.6M	$6.4M-0.4%	$6.4M-5.3%	$6.8M+38.6%	$4.9M-22.4%	$6.3M+74.3%	$3.6M-36.7%	$5.7M+29.0%	$4.4M-36.4%	$7.0M+10.5%	$6.3M-2.1%	$6.4M-3.9%	$6.7M-1.6%	$6.8M+21.8%	$5.6M+4.3%	$5.4M
R&D Expenses	N/A	$449K-47.7%	$859K+22.4%	$701K-39.0%	$1.2M+31.0%	$878K+185.3%	$308K+62.1%	$190K-22.7%	$246K-9.9%	$273K-78.5%	$1.3M+1159.7%	$101K+14.3%	$88K-53.9%	$191K+5.1%	$182K+29.9%	$140K
SG&A Expenses	$10.6M	$11.6M-5.8%	$12.3M-6.4%	$13.1M+5.0%	$12.5M-1.8%	$12.7M+19.4%	$10.7M+12.0%	$9.5M-10.5%	$10.6M-10.8%	$11.9M+3.3%	$11.5M+22.9%	$9.4M+26.9%	$7.4M+33.8%	$5.5M-6.7%	$5.9M-8.0%	$6.4M
Operating Income	-$4.1M	-$5.7Mn/m	-$6.8Mn/m	-$7.1Mn/m	-$8.8Mn/m	-$7.4Mn/m	-$7.5Mn/m	-$4.0Mn/m	-$8.0Mn/m	-$5.2Mn/m	-$6.5Mn/m	-$3.1Mn/m	-$790K-172.7%	$1.1Mn/m	-$520Kn/m	-$1.2M
EBITDA	N/A	-$5.6Mn/m	-$6.7Mn/m	-$7.0Mn/m	-$8.8Mn/m	-$7.3Mn/m	-$7.4Mn/m	-$3.9Mn/m	-$7.1Mn/m	-$4.7Mn/m	-$6.4Mn/m	-$3.0Mn/m	-$694K-158.7%	$1.2Mn/m	-$425Kn/m	-$1.1M
Interest Expense	N/A	$26K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3K-96.2%	$71K-59.8%	$176K+33.4%	$132K
Income Tax	N/A	N/A	N/A	$0n/m	$0-100.0%	$333-97.9%	$16K-14.5%	$18K-24.4%	$24K+25.6%	$19Kn/m	-$19K-152.8%	$36K+280.2%	$10K	N/A	N/A	N/A
Net Income	-$4.1M	-$5.7Mn/m	-$4.7Mn/m	-$6.9Mn/m	-$8.7Mn/m	-$6.8Mn/m	-$7.3Mn/m	-$7.5Mn/m	-$7.4Mn/m	-$5.2Mn/m	-$5.9Mn/m	-$5.5Mn/m	-$1.7M-216.2%	$1.5Mn/m	-$870Kn/m	-$1.5M
EPS (Basic)	N/A	-$0.07n/m	-$0.06n/m	-$0.10n/m	-$0.12n/m	-$0.10n/m	-$0.12n/m	-$0.16n/m	-$0.21n/m	-$0.16n/m	-$0.22n/m	-$0.26n/m	-$0.08-188.9%	$0.09n/m	-$0.05n/m	-$0.10
EPS (Diluted)	-$0.04	-$0.07n/m	-$0.06	N/A	N/A	-$0.10n/m	-$0.12n/m	-$0.16n/m	-$0.21n/m	-$0.16n/m	-$0.22n/m	-$0.26n/m	-$0.08-200.0%	$0.08n/m	-$0.05n/m	-$0.10
Diluted Shares (Avg)	N/A	82M+2.8%	80M	N/A	N/A	69M+9.1%	63M+37.9%	46M+29.6%	35M+7.9%	33M+21.3%	27M+25.8%	21M+6.8%	20M+14.8%	17M+8.7%	16M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$2.8M+22.3%	$2.2M-3.2%	$2.1M+2.2%	$2.4M-6.1%	$2.3M+25.3%	$2.2M-0.7%	$2.0M-10.9%	$2.5M+22.1%
Cost of Revenue	$931K+31.9%	$598K+2.2%	$556K+10.7%	$719K+6.1%	$706K+59.5%	$585K+2.1%	$502K-33.1%	$678K+21.9%
Gross Profit	$1.9M+18.1%	$1.6M-5.1%	$1.5M-0.6%	$1.6M-10.6%	$1.6M+14.6%	$1.6M-1.7%	$1.5M+0.1%	$1.8M+22.1%
R&D Expenses	$7K-87.2%	N/A	$12K-94.3%	$16K-93.0%	$52K-83.6%	$369K+291.8%	$218K+23.0%	$232K+36.1%
SG&A Expenses	$2.9M-2.8%	$2.4M-27.1%	$2.5M-23.4%	$2.7M-10.6%	$3.0M+5.7%	$3.3M+7.3%	$3.3M+0.8%	$3.1M+8.5%
Operating Income	-$1.1Mn/m	-$828Kn/m	-$1.1Mn/m	-$1.1Mn/m	-$1.5Mn/m	-$2.0Mn/m	-$2.0Mn/m	-$1.5Mn/m
EBITDA	-$1.0Mn/m	-$809Kn/m	-$1.1Mn/m	-$1.1Mn/m	-$1.5Mn/m	-$2.0Mn/m	-$2.0Mn/m	-$1.5Mn/m
Interest Expense	N/A	$12K	N/A	$19K	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	$0n/m	N/A	N/A	N/A
Net Income	-$1.1Mn/m	-$840Kn/m	-$1.1Mn/m	-$1.2Mn/m	-$1.5M-763.2%	-$2.0Mn/m	-$2.0Mn/m	-$1.5Mn/m
EPS (Basic)	-$0.01n/m	-$0.01n/m	-$0.01	-$0.01	-$0.02n/m	-$0.02n/m	-$0.03n/m	-$0.02n/m
EPS (Diluted)	-$0.01n/m	-$0.01n/m	-$0.01	-$0.01	-$0.02	-$0.02	-$0.03	-$0.02
Diluted Shares (Avg)	93M+13.5%	85M+3.9%	N/A	82M	82M+2.6%	82M	N/A	80M

MLSS Balance Sheet

MLSS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$7.8M-20.3%	$9.8M-13.8%	$11.4M-17.0%	$13.7M-30.8%	$19.8M+1.2%	$19.6M+198.5%	$6.6M+2.4%	$6.4M-59.0%	$15.6M+10.2%	$14.2M+10.7%	$12.8M-26.7%	$17.5M+117.0%	$8.1M+42.3%	$5.7M-19.0%	$7.0M
Current Assets	$7.5M-19.5%	$9.3M-14.0%	$10.8M-16.8%	$13.0M-31.5%	$18.9M+2.0%	$18.6M+205.3%	$6.1M+3.8%	$5.9M-51.3%	$12.0M-9.9%	$13.3M+12.9%	$11.8M-24.1%	$15.6M+219.3%	$4.9M+95.3%	$2.5M-24.2%	$3.3M
Cash & Equivalents	$1.1M-66.2%	$3.3M+9.4%	$3.0M-65.8%	$8.7M-41.0%	$14.8M+3.8%	$14.2M+838.1%	$1.5M-24.0%	$2.0M-24.3%	$2.6M-26.8%	$3.6M-14.1%	$4.2M-59.5%	$10.4M+803.8%	$1.1M+594.2%	$165K+71.6%	$96K
Short-Term Investments	$0n/m	$0-100.0%	$3.0M-65.8%	$8.7M-41.2%	$14.8M+13.0%	$13.1M+4237.7%	$302Kn/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Inventory	$3.8M+1.8%	$3.7M+40.7%	$2.6M+47.2%	$1.8M+16.3%	$1.5M-36.3%	$2.4M+49.3%	$1.6M-15.6%	$1.9M-43.2%	$3.4M-26.6%	$4.6M+8.1%	$4.3M+70.5%	$2.5M+88.9%	$1.3M+107.0%	$639K-19.2%	$790K
Accounts Receivable	N/A	$475K+52.0%	$313K-54.9%	$694K-26.5%	$943K-12.7%	$1.1M-36.8%	$1.7M-13.5%	$2.0M+28.8%	$1.5M+91.4%	$802K-44.2%	$1.4M-6.8%	$1.5M+0.6%	$1.5M+56.6%	$979K-15.2%	$1.2M
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Total Liabilities	$5.0M+26.0%	$4.0M+18.0%	$3.4M-9.1%	$3.7M+2.8%	$3.6M+3.7%	$3.5M-29.7%	$4.9M+1.1%	$4.9M-40.1%	$8.1M+44.0%	$5.6M+125.7%	$2.5M+0.4%	$2.5M-1.8%	$2.5M-31.9%	$3.7M-26.3%	$5.1M
Current Liabilities	$4.1M+10.3%	$3.7M+21.7%	$3.1M-6.8%	$3.3M+6.5%	$3.1M+7.6%	$2.9M-41.6%	$4.9M+1.1%	$4.9M-27.6%	$6.7M+19.2%	$5.6M	N/A	$2.4M-4.0%	$2.5M-22.6%	$3.3M-29.0%	$4.6M
Non-Current Liabilities	$863K+291.6%	$220K-22.0%	$282K-28.7%	$396K-20.3%	$497K-15.3%	$587Kn/m	$0n/m	$0-100.0%	$1.4Mn/m	$0n/m	-$1.1M-2175.7%	$55Kn/m	$0-100.0%	$450K+0.7%	$447K
Long-Term Debt	$800K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.8M-51.8%	$5.8M-27.2%	$8.0M-21.6%	$10.2M-37.5%	$16.4M+1.0%	$16.2M+855.3%	$1.7M+10.2%	$1.5M-78.7%	$7.2M-14.8%	$8.5M-17.5%	$10.3M-29.6%	$14.6M+165.4%	$5.5M+185.0%	$1.9M0.0%	$1.9M
Retained Earnings	-$133.8Mn/m	-$128.1Mn/m	-$123.3Mn/m	-$116.4Mn/m	-$107.7Mn/m	-$100.9Mn/m	-$93.5Mn/m	-$86.0Mn/m	-$78.6Mn/m	-$73.4Mn/m	-$67.4Mn/m	-$62.0Mn/m	-$60.3Mn/m	-$61.7Mn/m	-$60.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$8.3M+3.7%	$8.0M-12.4%	$7.8M-20.3%	$8.5M-24.1%	$8.1M-32.9%	$9.1M-19.9%	$9.8M-13.8%	$11.2M-1.7%
Current Assets	$8.1M+6.4%	$7.4M-14.8%	$7.5M-19.5%	$8.1M-24.2%	$7.6M-33.6%	$8.6M-20.2%	$9.3M-14.0%	$10.7M+7.3%
Cash & Equivalents	$2.1M+62.2%	$1.2M-46.6%	$1.1M-66.2%	$1.3M-71.8%	$1.3M-77.8%	$2.2M-43.9%	$3.3M+9.4%	$4.8M+120.0%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0-100.0%	$0-100.0%	$0-100.0%
Inventory	$3.1M-20.8%	$3.5M-16.1%	$3.8M+1.8%	$4.1M+11.2%	$3.9M+17.1%	$4.2M+45.4%	$3.7M+40.7%	$3.7M+49.5%
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$475K+52.0%	$551K-6.8%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Total Liabilities	$4.9M+3.5%	$5.7M+22.8%	$5.0M+26.0%	$5.9M+50.2%	$4.7M+16.3%	$4.6M+18.9%	$4.0M+18.0%	$4.0M+10.1%
Current Liabilities	$4.4M+16.7%	$4.9M+9.3%	$4.1M+10.3%	$5.0M+33.9%	$3.8M-1.5%	$4.4M+22.2%	$3.7M+21.7%	$3.8M+14.6%
Non-Current Liabilities	$480K-49.1%	$821K+351.0%	$863K+291.6%	$903K+361.6%	$943K+319.0%	$182K-28.3%	$220K-22.0%	$196K-37.2%
Long-Term Debt	$466K	$800K	$800K	$800K	N/A	N/A	N/A	N/A
Total Equity	$3.5M+3.9%	$2.3M-48.8%	$2.8M-51.8%	$2.5M-64.7%	$3.3M-58.0%	$4.5M-40.2%	$5.8M-27.2%	$7.2M-0.3%
Retained Earnings	-$135.7Mn/m	-$134.6Mn/m	-$133.8Mn/m	-$132.7Mn/m	-$131.5Mn/m	-$130.0Mn/m	-$128.1Mn/m	-$126.0Mn/m

Not reported in any period shown, so not listed: Goodwill.

MLSS Cash Flow Statement

MLSS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$643K	-$2.9Mn/m	-$2.9Mn/m	-$5.3Mn/m	-$6.0Mn/m	-$4.0Mn/m	-$7.0Mn/m	-$1.8Mn/m	-$1.6Mn/m	-$1.2Mn/m	-$5.4Mn/m	-$2.9M-881.6%	$377K-70.1%	$1.3Mn/m	-$50Kn/m	-$571K
Depreciation & Amortization	N/A	$78K+108.8%	$37K-39.5%	$62K-2.9%	$64K-13.7%	$74K-23.0%	$96K-4.5%	$101K-88.6%	$881K+53.8%	$573K+250.8%	$163K+67.8%	$97K+1.6%	$96K-0.3%	$96K+1.0%	$95K-9.7%	$105K
Stock-Based Compensation	N/A	$953K-29.2%	$1.3M-8.3%	$1.5M-2.1%	$1.5M+89.6%	$791K+43.7%	$550K+199.3%	$184K-55.0%	$409K-37.2%	$651K-64.8%	$1.9M	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	$15K	$15K+49.4%	$10K	N/A	$9K-43.9%	$15K-29.1%	$21K+116.2%	$10K+34.0%	$7K+23.2%	$6K-60.8%	$15K-77.3%	$68K-17.8%	$82K+1384.2%	$6K+17.0%	$5K-36.6%	$7K
Free Cash Flow	-$658K	-$2.9Mn/m	-$2.9M	N/A	-$6.0Mn/m	-$4.0Mn/m	-$7.0Mn/m	-$1.8Mn/m	-$1.6Mn/m	-$1.2Mn/m	-$5.4Mn/m	-$3.0M-1122.6%	$295K-76.5%	$1.3Mn/m	-$54Kn/m	-$578K
Investing Cash Flow	-$15K	-$15K-100.5%	$3.0Mn/m	-$3.0Mn/m	-$9Kn/m	-$15Kn/m	-$21Kn/m	-$10Kn/m	-$15Kn/m	-$199K-2527.2%	$8K	N/A	N/A	-$561Kn/m	-$31Kn/m	-$39K
Financing Cash Flow	$1.5M	$786K+236.4%	$234K-90.9%	$2.6Mn/m	-$9K-100.2%	$4.6M-76.7%	$19.7M+669.5%	$2.6Mn/m	-$250K-154.0%	$463K-90.3%	$4.8M	N/A	N/A	$285K+89.7%	$150K+89.9%	$79K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$585Kn/m	$87Kn/m	-$226Kn/m	$82Kn/m	-$1.8M-325.1%	-$1.0Mn/m	-$1.5Mn/m	-$974Kn/m
Depreciation & Amortization	$20K+0.5%	$19K+0.1%	$19K+119.8%	$20K+134.5%	$19K+130.0%	$19K+66.4%	$9K-28.1%	$9K-46.1%
Stock-Based Compensation	N/A	$257K-22.4%	N/A	N/A	$160K-23.1%	$331K+5.5%	N/A	N/A
Capital Expenditures	$4K-7.4%	$2K+25.2%	$3K-11.7%	$6K	$4K	$1K	$4K	N/A
Free Cash Flow	-$589Kn/m	$85Kn/m	-$229Kn/m	$76K	-$1.8M	-$1.0M	-$1.5M	N/A
Investing Cash Flow	-$4Kn/m	-$2Kn/m	-$3Kn/m	-$6Kn/m	-$4K-100.5%	-$1K-100.1%	-$4Kn/m	$0n/m
Financing Cash Flow	$1.5M+83.5%	-$3Kn/m	-$3Kn/m	-$5Kn/m	$797Kn/m	-$2K-100.9%	-$3K-100.1%	-$3Kn/m

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

MLSS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MLSS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	71.4%-3.2pp	74.6%+5.4pp	69.1%+13.5pp	55.6%-5.6pp	61.3%-5.3pp	66.6%-1.7pp	68.3%+22.2pp	46.1%-15.7pp	61.8%+1.6pp	60.2%-7.7pp	67.9%+3.0pp	64.9%-3.2pp	68.0%+3.4pp	64.7%+0.7pp	64.0%
Operating Margin	-63.5%+14.8pp	-78.3%-6.0pp	-72.3%	-100.2%	-71.6%	-137.1%	-47.8%+35.4pp	-83.1%-36.7pp	-46.4%+15.7pp	-62.1%-29.9pp	-32.2%-24.6pp	-7.6%-18.5pp	10.8%+16.9pp	-6.0%+8.6pp	-14.6%
Net Margin	-63.8%-9.1pp	-54.6%+15.9pp	-70.5%+28.4pp	-98.9%-32.7pp	-66.2%	-134.9%	-89.8%-12.6pp	-77.2%-31.3pp	-46.0%+10.8pp	-56.7%+0.9pp	-57.6%-41.1pp	-16.5%-31.1pp	14.6%+24.7pp	-10.1%+7.6pp	-17.7%
Return on Equity	-203.4%-122.6pp	-80.8%+5.7pp	-86.5%-1.3pp	-85.1%-43.5pp	-41.7%+3.6pp	-45.3%+398.4pp	-443.7%+39.0pp	-482.7%-411.1pp	-71.6%-1.6pp	-70.0%-16.9pp	-53.0%-41.4pp	-11.6%-38.2pp	26.5%+71.5pp	-44.9%+31.6pp	-76.5%
Return on Assets	-73.3%-25.2pp	-48.1%+12.8pp	-60.9%+2.6pp	-63.5%-29.1pp	-34.4%+3.1pp	-37.5%+77.3pp	-114.8%+1.3pp	-116.1%-82.9pp	-33.2%+8.7pp	-41.9%+0.8pp	-42.7%-32.9pp	-9.7%-27.9pp	18.2%+33.6pp	-15.4%+5.8pp	-21.2%
Current Ratio	1.81-0.7x	2.48-1.0x	3.51-0.4x	3.93-2.2x	6.11-0.3x	6.45+5.2x	1.230.0x	1.20-0.6x	1.79-0.6x	2.36	N/A	6.40+4.5x	1.92+1.2x	0.760.0x	0.72
Debt-to-Equity	0.28	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liabilities-to-Equity	1.78+1.1x	0.68+0.3x	0.42+0.1x	0.36+0.1x	0.220.0x	0.21-2.7x	2.91-0.3x	3.16+2.0x	1.12+0.5x	0.66+0.4x	0.24+0.1x	0.17-0.3x	0.46-1.5x	1.92-0.7x	2.61
Asset Turnover	1.15+0.3x	0.880.0x	0.86+0.2x	0.64+0.1x	0.52+0.2x	0.28-1.0x	1.28-0.2x	1.50+0.8x	0.720.0x	0.740.0x	0.74+0.1x	0.59-0.7x	1.24-0.3x	1.53+0.3x	1.20
FCF Margin	-32.7%+1.3pp	-34.0%	N/A	-68.6%-29.3pp	-39.3%	-128.9%	-21.4%-4.4pp	-17.0%-6.1pp	-10.9%+40.7pp	-51.6%-19.9pp	-31.8%-34.6pp	2.9%-9.7pp	12.5%+13.2pp	-0.6%+6.3pp	-6.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	67.2%-2.4pp	72.3%-1.5pp	73.0%-2.1pp	69.5%-3.5pp	69.6%-6.5pp	73.8%-0.7pp	75.0%+8.3pp	73.0%0.0pp
Operating Margin	-37.4%+26.5pp	-38.3%+51.2pp	-52.5%	-48.1%+10.4pp	-63.9%+32.1pp	-89.5%-24.3pp	-101.4%	-58.4%+14.7pp
Net Margin	-37.3%+26.5pp	-38.9%+50.5pp	-53.0%	-48.9%+9.2pp	-63.8%-75.9pp	-89.3%-25.3pp	-101.1%	-58.1%+13.1pp
Return on Equity	-30.5%+13.9pp	-36.8%+7.9pp	-38.8%-3.9pp	-45.3%-25.0pp	-44.4%-47.2pp	-44.7%-25.4pp	-34.9%-10.7pp	-20.2%0.0pp
Return on Assets	-12.7%+5.7pp	-10.5%+11.4pp	-14.0%+6.8pp	-13.6%-0.5pp	-18.4%-20.3pp	-21.9%-9.3pp	-20.8%-3.7pp	-13.1%-0.2pp
Current Ratio	1.85-0.2x	1.51-0.4x	1.81-0.7x	1.61-1.2x	2.03-1.0x	1.94-1.0x	2.48-1.0x	2.85-0.2x
Debt-to-Equity	0.13	0.35	0.28	0.31	N/A	N/A	N/A	N/A
Liabilities-to-Equity	1.410.0x	2.48+1.4x	1.78+1.1x	2.33+1.8x	1.41+0.9x	1.04+0.5x	0.68+0.3x	0.55+0.1x
Asset Turnover	0.34+0.1x	0.270.0x	0.26+0.1x	0.28+0.1x	0.29+0.1x	0.250.0x	0.210.0x	0.230.0x
FCF Margin	-20.7%+55.4pp	3.9%+49.2pp	-11.1%+64.1pp	3.2%	-76.1%	-45.2%	-75.2%	N/A

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Milestone Scientific, Inc. MLSS	FY2025	$9.0M	-$5.7M	-63.8%	$28.1M	40/100
Nephros Inc. NEPH	FY2025	$18.8M	$1.2M	6.3%	$38.2M	54/100
Precision Optics Corporation, Inc. POCI	FY2026	$31.5M	-$3.6M	-11.5%	$46.4M	53/100
Retractable Technologies, Inc RVP	FY2025	$38.3M	-$12.6M	-32.8%	$17.4M	29/100
Harvard Bioscience Inc HBIO	FY2025	$86.5M	-$56.7M	-65.5%	$38.0M	46/100
NexGel, Inc NXGL	FY2025	$11.4M	-$3.0M	-26.3%	$2.3M	38/100

Where Milestone Scientific, Inc. Ranks

Frequently Asked Questions

What is Milestone Scientific, Inc.'s annual revenue?

Milestone Scientific, Inc. (MLSS) reported $9.0M in total revenue for fiscal year 2025. This represents a 4.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Milestone Scientific, Inc.'s revenue growing?

Milestone Scientific, Inc. (MLSS) revenue grew by 4.0% year-over-year, from $8.6M to $9.0M in fiscal year 2025.

Is Milestone Scientific, Inc. profitable?

No, Milestone Scientific, Inc. (MLSS) reported a net loss of $4.1M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $5.7M, with a net profit margin of -63.8%.

What is Milestone Scientific, Inc.'s EBITDA?

Milestone Scientific, Inc. (MLSS) had EBITDA of -$5.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Milestone Scientific, Inc. have?

As of fiscal year 2025, Milestone Scientific, Inc. (MLSS) had $1.1M in cash and equivalents against $800K in long-term debt.

What is Milestone Scientific, Inc.'s gross margin?

Milestone Scientific, Inc. (MLSS) had a gross margin of 71.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Milestone Scientific, Inc.'s operating margin?

Milestone Scientific, Inc. (MLSS) had an operating margin of -63.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Milestone Scientific, Inc.'s net profit margin?

Milestone Scientific, Inc. (MLSS) had a net profit margin of -63.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Milestone Scientific, Inc.'s return on equity (ROE)?

Milestone Scientific, Inc. (MLSS) has a return on equity of -203.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Milestone Scientific, Inc.'s free cash flow?

Milestone Scientific, Inc. (MLSS) recorded an outflow of $2.9M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Milestone Scientific, Inc.'s operating cash flow?

Milestone Scientific, Inc. (MLSS) recorded an outflow of $2.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Milestone Scientific, Inc.'s total assets?

Milestone Scientific, Inc. (MLSS) had $7.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Milestone Scientific, Inc.'s capital expenditures?

Milestone Scientific, Inc. (MLSS) invested $15K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Milestone Scientific, Inc. spend on research and development?

Milestone Scientific, Inc. (MLSS) invested $449K in research and development during fiscal year 2025.

How many shares does Milestone Scientific, Inc. have outstanding?

Milestone Scientific, Inc. (MLSS) had 80M shares outstanding as of fiscal year 2025.

What is Milestone Scientific, Inc.'s current ratio?

Milestone Scientific, Inc. (MLSS) had a current ratio of 1.81 as of fiscal year 2025, which is generally considered healthy.

What is Milestone Scientific, Inc.'s debt-to-equity ratio?

Milestone Scientific, Inc. (MLSS) had a debt-to-equity ratio of 0.28 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Milestone Scientific, Inc.'s liabilities-to-equity ratio?

Milestone Scientific, Inc. (MLSS) had a liabilities-to-equity ratio of 1.78 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Milestone Scientific, Inc.'s return on assets (ROA)?

Milestone Scientific, Inc. (MLSS) had a return on assets of -73.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Milestone Scientific, Inc.'s P/E ratio?

Milestone Scientific, Inc. (MLSS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $28.1M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Milestone Scientific, Inc.'s price-to-sales ratio?

Milestone Scientific, Inc. (MLSS) trades at 3.0x sales, its market capitalization divided by $9.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $28.1M as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Milestone Scientific, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Milestone Scientific, Inc. (MLSS) held $1.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $2.9M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Milestone Scientific, Inc.'s Altman Z-Score?

Milestone Scientific, Inc. (MLSS) has an Altman Z-Score of -21.36, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Milestone Scientific, Inc.'s Piotroski F-Score?

Milestone Scientific, Inc. (MLSS) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Milestone Scientific, Inc.'s earnings high quality?

Milestone Scientific, Inc. (MLSS) reported a net loss of $5.7M while operations used $2.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Milestone Scientific, Inc. cover its interest payments?

Milestone Scientific, Inc. (MLSS) reported an operating loss of $5.7M against $26K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Milestone Scientific, Inc.?

Milestone Scientific, Inc. (MLSS) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.