Milestone Scientific Reports Financial Results for Second Quarter 2026
Rhea-AI Summary
Milestone Scientific (NYSE: MLSS) reported second quarter 2026 revenue of $2.84 million, up 22% year-over-year, with medical segment revenue rising approximately 231% on strong CompuFlo adoption. Six-month revenue grew 9.8% to $5.0 million.
Q2 gross margin was 67.2% versus 69.6% a year ago, reflecting product mix and higher costs, including tariffs. Operating expenses fell 4.2% to $3.0 million, narrowing the net loss to $1.06 million ($0.01 per share) from $1.48 million. For the first half, operating expenses declined 20.5% and net loss improved to $1.9 million ($0.02 per share).
As of June 30, 2026, cash and cash equivalents were $2.07 million, with working capital of $3.7 million and $466,000 in convertible debt. The company reaffirmed 2026 revenue guidance of $9.8–$10.2 million, expecting double-digit growth and faster expansion in CompuFlo sales.
Positive
- Q2 2026 revenue up 22.3% year-over-year to $2.84 million
- Medical segment revenue grew about 231% year-over-year, led by CompuFlo
- Net loss Q2 improved to $1.06 million from $1.48 million
- Operating expenses (H1) decreased 20.5% to $5.36 million
- Cash and equivalents increased to $2.07 million from $1.11 million year-end 2025
- 2026 revenue guidance reaffirmed at $9.8–$10.2 million, implying double-digit growth
Negative
- Q2 gross margin declined to 67.2% from 69.6% year-over-year
- H1 gross margin fell to 69.4% from 71.7% in 2025
- Net loss H1 2026 remains $1.9 million despite improvements
- Cost pressures include higher product costs and tariffs on certain imported components
- Q2 revenue benefited from two large international orders not expected to recur in Q3 2026
News Explained
The new federal distribution route is the material change; June 30 reporting lists 88,756,989 common shares outstanding.
After quarter-end, Milestone Scientific entered a strategic distribution agreement with Red One Medical to market and support CompuFlo across the Department of Veterans Affairs, Department of Defense, Defense Health Agency, Indian Health Service and other federal organizations, adding a federal route to customers served by those systems.
The arrangement is described as an agreement to market and support the system, and the release says those organizations together serve more than 18 million enrolled veterans and military beneficiaries.
The release’s June 30 balance sheet reports 88,756,989 common shares outstanding, versus 80,453,116 common shares outstanding on
The next specified checkpoint is additional detail alongside third-quarter results in
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | Q1 earnings report | Neutral | -4.3% | Revenue declined while operating losses and expenses improved year over year. |
| Mar 31 | FY earnings report | Positive | +3.7% | Improved losses and 2026 revenue guidance accompanied the annual results. |
| Apr 15 | FY earnings report | Negative | -5.4% | Revenue and gross profit declined despite improved operating and net losses. |
| Aug 15 | Q2 earnings report | Neutral | -3.0% | Lower revenue contrasted with improved profitability and expanded reimbursement developments. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings history showed three divergent reactions and one aligned reaction, with an average move of -2.22%.
Key Terms
medicare administrative contractor regulatory
convertible debt financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Medical Segment Revenue Grows
Enters Strategic Distribution Agreement to Expand CompuFlo® Access Across VA and Department of Defense Health Systems
Reaffirms 2026 Outlook for Double-Digit Revenue Growth, Including Significant Growth in CompuFlo® Sales
ROSELAND, N.J., Aug. 14, 2026 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provided a business update and announced financial results for the three and six months ended June 30, 2026.
“Our second quarter results reflect continued execution on the strategy we laid out at the start of the year,” said Eric Hines, Chief Executive Officer of Milestone Scientific. “Total revenue grew
“Subsequent to quarter end, we took a significant step in expanding our addressable market for CompuFlo, entering into a strategic distribution agreement with Red One Medical, an established federal healthcare distributor, to market and support the CompuFlo Epidural System across the U.S. Department of Veterans Affairs, Department of Defense, Defense Health Agency, Indian Health Service and other federal healthcare organizations, which together serve more than 18 million enrolled veterans and military beneficiaries. On the dental side, we signed a new national distribution partner to expand our sales network and complement our e-commerce business, and continued to build out our international footprint, including a recent registration approval in Uzbekistan, with additional registrations targeted in Japan, Mexico, Turkey and India in coming quarters.
“We also launched the first phase of our artificial intelligence strategy this quarter, with the pilot debut of Milo™, our AI-enabled digital engagement platform, at the American Society of Pain and Neuroscience (ASPN) 2026 conference in Miami Beach. Milo is designed to answer product questions, provide educational information, support lead qualification and connect healthcare professionals with our sales, clinical and customer support teams. In addition, we strengthened our Board of Directors, with Benedetta I. Casamento transitioning from Chair to Executive Chair and the appointments of two new independent directors, Greg Shilling and Kelly Ann Ulto, adding healthcare technology, finance and governance expertise.
“We remain focused on disciplined execution, directing incremental investment toward the areas of the business, particularly medical, where we believe there is the greatest long-term opportunity. At the same time, we are maintaining the cost discipline that has meaningfully narrowed our losses over the past year and continue to target cash flow breakeven in early 2027.”
Financial Results for the Three Months Ended June 30, 2026
For the three months ended June 30, 2026, total revenue was
Gross profit for the three months ended June 30, 2026 was
Operating expenses decreased by approximately
Net loss was
Financial Results for the Six Months Ended June 30, 2026
For the six months ended June 30, 2026 and 2025, total revenue was
Gross profit for the six months ended June 30, 2026 was
Operating expenses decreased by approximately
2026 Outlook
Management reaffirms its outlook for the year ending December 31, 2026, with expected revenue of
The Company notes that second quarter 2026 revenue benefited from two large international orders that are not expected to recur in the third quarter of 2026, and that the third quarter is typically a seasonally slower period. Management expects medical segment initiatives, including the Company's expanding federal, Medicare and commercial payer channels, supported by the recently secured Medicare reimbursement across three MAC regions and the planned investment in direct sales in those areas, to contribute more meaningfully in the second half of 2026, with additional detail to be provided alongside third quarter results in November 2026.
Conference Call
Milestone will host a conference call at 8:30 AM Eastern Time today, Friday, August 14, 2026, to discuss the company’s financial results for the second quarter ended June 30, 2026, as well as the company’s corporate progress and other developments.
The conference call will be available via telephone by dialing toll free 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and by entering the access code: 252290. A live webcast and replay are available here: https://www.webcaster5.com/Webcast/Page/2306/54387.
An audio replay of the call will be available through August 28, 2026, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and by entering the access code: 54387.
About Milestone Scientific Inc.
Milestone Scientific Inc. is a technology-focused medical research and development company that patents, designs, and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific's computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2025. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason. Contact:
HAYDEN IR:
James Carbonara
(646)-755-7412
james@haydenir.com
Brett Maas
(646) 536-7331
brett@haydenir.com
-- Tables Follow –
| MILESTONE SCIENTIFIC AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 2,066,770 | $ | 1,112,642 | ||||
| Accounts receivable, net of allowance for credit losses of | 1,003,063 | 680,620 | ||||||
| Accounts receivable, related party | 9,643 | 25,548 | ||||||
| Other Receivables | 40,276 | - | ||||||
| Prepaid expenses and other current assets | 633,953 | 468,792 | ||||||
| Inventories | 3,086,577 | 3,781,837 | ||||||
| Advances on contracts | 1,276,916 | 1,408,395 | ||||||
| Total current assets | 8,117,198 | 7,477,834 | ||||||
| Furniture, fixtures and equipment, net | 20,127 | 19,193 | ||||||
| Intangibles, net | 44,857 | 79,063 | ||||||
| Right of use assets finance lease | 48,977 | 55,811 | ||||||
| Right of use assets operating lease | 92,489 | 150,378 | ||||||
| Other assets | 24,150 | 24,150 | ||||||
| Total assets | $ | 8,347,798 | $ | 7,806,429 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,953,844 | $ | 1,430,250 | ||||
| Accounts payable, related party | 907,680 | 1,359,698 | ||||||
| Accrued expenses and other payables | 956,530 | 995,206 | ||||||
| Accrued expenses, related party | 225,018 | 188,406 | ||||||
| Other Current Liabilities | 218,146 | - | ||||||
| Current portion of finance lease liabilities | 34,170 | 27,347 | ||||||
| Current portion of operating lease liabilities | 101,883 | 130,355 | ||||||
| Total current liabilities | 4,397,271 | 4,131,262 | ||||||
| Non-current portion of finance lease liabilities | 13,668 | 27,336 | ||||||
| Non-current portion of operating lease liabilities | - | 35,208 | ||||||
| Convertible notes payable, related parties | 465,982 | 800,000 | ||||||
| Total liabilities | $ | 4,876,921 | $ | 4,993,806 | ||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Common stock, par value | $ | 88,773 | $ | 80,487 | ||||
| Additional paid in capital | 139,968,127 | 137,418,974 | ||||||
| Accumulated deficit | (135,674,507 | ) | (133,775,322 | ) | ||||
| Treasury stock, at cost, 33,333 shares | (911,516 | ) | (911,516 | ) | ||||
| Total stockholders’ equity | $ | 3,470,877 | $ | 2,812,623 | ||||
| Total liabilities and stockholders’ equity | $ | 8,347,798 | $ | 7,806,429 | ||||
| MILESTONE SCIENTIFIC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||
| Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |||||||||||||
| June 30, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | |||||||||||||
| Product sales, net | $ | 2,841,038 | $ | 2,323,466 | $ | 5,003,071 | $ | 4,555,886 | ||||||||
| Cost of products sold | 930,871 | 705,860 | 1,528,880 | 1,290,845 | ||||||||||||
| Gross profit | $ | 1,910,167 | $ | 1,617,606 | $ | 3,474,191 | $ | 3,265,041 | ||||||||
| Selling, general and administrative expenses | $ | 2,945,532 | $ | 3,030,952 | $ | 5,318,184 | $ | 6,287,680 | ||||||||
| Research and development expenses | 6,609 | 51,789 | 6,609 | 420,909 | ||||||||||||
| Depreciation and amortization expense | 19,589 | 19,496 | 39,043 | 38,936 | ||||||||||||
| Total operating expenses | $ | 2,971,730 | $ | 3,102,237 | $ | 5,363,836 | $ | 6,747,525 | ||||||||
| Loss from operations | $ | (1,061,563 | ) | $ | (1,484,631 | ) | $ | (1,889,645 | ) | $ | (3,482,484 | ) | ||||
| Interest (expense) income, net | 2,231 | 1,521 | (9,540 | ) | 4,788 | |||||||||||
| Loss before provision for income taxes | $ | (1,059,332 | ) | $ | (1,483,110 | ) | $ | (1,899,185 | ) | $ | (3,477,696 | ) | ||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net loss | $ | (1,059,332 | ) | $ | (1,483,110 | ) | $ | (1,899,185 | ) | $ | (3,477,696 | ) | ||||
| Net loss per share applicable to common stockholders— | ||||||||||||||||
| Basic and Diluted | (0.01 | ) | (0.02 | ) | (0.02 | ) | (0.04 | ) | ||||||||
| Weighted average shares outstanding and to be issued— | ||||||||||||||||
| Basic and diluted | 93,126,415 | 82,049,984 | 87,386,906 | 81,903,323 | ||||||||||||
