Milestone Scientific Inc. (MLSS) Income Statement
MLSS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMLSS revenue and net income
Where MLSS's revenue goes
2025Each bar shows an amount and its share of revenue. MLSS kept −63.8% of revenue as net income.
MLSS profit margins
MLSS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.0% | +0.6% | +10.5% | −0.6% |
| Gross profit | −1.6% | +8.9% | +11.8% | −0.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MLSS quarterly EPS vs estimates
Milestone Scientific beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.01).
MLSS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $8.6M | $9.8M | $8.8M | $10.3M | $5.4M | $8.4M | $9.6M | $11.3M | $10.5M |
| Cost of revenue | $2.6M | $2.2M | $3.0M | $3.9M | $4.0M | $1.8M | $2.7M | $5.2M | $4.3M | $4.2M |
| Gross profit | $6.3M | $6.4M | $6.8M | $4.9M | $6.3M | $3.6M | $5.7M | $4.4M | $7.0M | $6.3M |
| Research & development | $449,469 | $858,767 | $701,378 | $1.2M | $878,210 | $307,850 | $189,923 | $245,636 | $272,746 | $1.3M |
| Sales, general & admin | $11.6M | $12.3M | $12.7M | $12.5M | $12.7M | $10.8M | $9.5M | $10.6M | $11.9M | $11.5M |
| Total operating expenses | $12.0M | $13.2M | $13.9M | $13.7M | $13.7M | $11.1M | $9.7M | $10.9M | $12.2M | $12.8M |
| Operating income | −$5.7M | −$6.8M | −$7.1M | −$8.8M | −$7.4M | −$7.5M | −$4.0M | −$8.0M | −$5.2M | −$6.5M |
| Interest income | — | — | — | — | — | $6,709 | $1,543 | $7,447 | $9,298 | $1,285 |
| Interest expense | $25,599 | — | — | $54,607 | $16,360 | $18,081 | $7.1M | $0 | $0 | $1,285 |
| Income before taxes | −$5.7M | −$4.7M | −$7.0M | −$8.8M | −$6.9M | −$7.4M | −$7.6M | −$8.0M | −$5.2M | −$6.5M |
| Income taxes | — | — | −$51,845 | −$66,735 | $333 | $15,500 | $18,126 | $23,986 | $19,093 | −$19,101 |
| Net income | −$5.7M | −$4.7M | −$6.9M | −$8.7M | −$6.8M | −$7.3M | −$7.5M | −$7.4M | −$5.2M | −$5.9M |
| EBITDA | −$5.5M | −$4.6M | −$6.8M | −$8.6M | −$6.8M | −$7.4M | −$7.4M | −$5.6M | −$4.7M | −$6.4M |
| EPS (diluted) | −$0.06 | −$0.09 | −$0.10 | −$0.13 | −$0.10 | −$0.12 | −$0.15 | −$0.32 | −$0.15 | −$0.20 |
| Gross margin | 70.5% | 74.6% | 69.1% | 55.7% | 61.3% | 66.6% | 68.3% | 46.1% | 61.8% | 60.2% |
| Operating margin | −63.5% | −78.3% | −72.3% | −100.2% | −71.6% | −137.1% | −47.8% | −83.1% | −46.4% | −62.1% |
| Net margin | −63.8% | −54.6% | −70.5% | −98.9% | −66.2% | −134.9% | −89.8% | −77.2% | −46.0% | −56.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8M | $2.2M | $2.1M | $2.4M | $2.3M | $2.2M | $2.0M | $2.5M | $1.9M | $2.2M | $2.3M | $2.1M |
| Cost of revenue | $930,871 | $617,463 | $575,468 | $739,351 | $705,860 | $584,985 | $502,452 | $677,585 | $442,560 | $572,742 | $762,216 | $555,850 |
| Gross profit | $1.9M | $1.5M | $1.5M | $1.6M | $1.6M | $1.6M | $1.5M | $1.8M | $1.4M | $1.7M | $1.5M | $1.5M |
| Research & development | $6,609 | $0 | $12,334 | $16,226 | $51,789 | $369,120 | $217,532 | $232,056 | $314,968 | $94,211 | $176,906 | $170,478 |
| Sales, general & admin | $2.9M | $2.4M | $6.1M | $2.7M | $3.0M | $3.3M | $3.3M | $3.1M | $2.9M | $3.0M | $391,000 | $2.8M |
| Total operating expenses | $3.0M | $2.4M | $2.6M | $2.8M | $3.1M | $3.6M | $4.1M | $3.3M | $3.2M | $3.1M | $3.5M | $3.0M |
| Operating income | −$1.1M | −$828,083 | −$1.1M | −$1.1M | −$1.5M | −$2.0M | −$2.0M | −$1.5M | −$1.8M | −$1.5M | −$2.0M | −$1.5M |
| Interest income | — | — | — | — | $1,521 | $3,267 | — | $8,008 | $20,966 | $24,539 | — | $30,600 |
| Interest expense | — | $11,770 | $10,899 | $19,488 | — | — | — | — | $20,966 | $3,351 | $72,067 | — |
| Income before taxes | −$1.1M | −$839,853 | −$1.1M | −$1.2M | −$1.5M | −$2.0M | −$2.0M | −$1.5M | $223,638 | −$1.4M | −$2.0M | −$1.5M |
| Income taxes | — | — | — | — | — | −$2 | — | — | −$4 | $2 | −$17,852 | −$9,811 |
| Net income | −$1.1M | −$839,853 | −$1.1M | −$1.2M | −$1.5M | −$2.0M | −$2.0M | −$1.5M | $223,638 | −$1.4M | −$1.9M | −$1.5M |
| EBITDA | −$1.0M | −$780,050 | −$1.0M | −$1.1M | −$1.4M | −$1.9M | — | −$1.5M | $232,117 | −$1.4M | −$1.9M | −$1.5M |
| EPS (diluted) | −$0.01 | −$0.01 | −$0.01 | −$0.01 | −$0.02 | −$0.02 | −$0.03 | −$0.02 | −$0.02 | −$0.02 | −$0.03 | −$0.02 |
| Gross margin | 67.2% | 71.4% | 72.0% | 68.7% | 69.6% | 73.8% | 75.0% | 73.0% | 76.1% | 74.5% | 66.3% | 73.0% |
| Operating margin | −37.4% | −38.3% | −52.5% | −48.1% | −63.9% | −89.5% | −101.4% | −58.4% | −96.0% | −65.1% | −87.6% | −73.2% |
| Net margin | −37.3% | −38.8% | −53.0% | −48.9% | −63.8% | −89.3% | −101.1% | −58.1% | 12.1% | −64.1% | −85.8% | −71.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MLSS's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MLSS financial results
In fiscal year 2025 (ended December 31, 2025), Milestone Scientific reported revenue of $9.0 million, up 4.0% from the year before. It had a net loss of $5.7 million, a net profit margin of −63.8%. Diluted earnings per share came to −$0.06. Over five years revenue grew at an average rate of 10.5% a year.
See the MLSS stock overview for the latest quote and news, or the MLSS chart for price history and technical indicators.
MLSS income statement FAQ
What is Milestone Scientific's annual revenue?
Milestone Scientific reported total revenue of $9.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 4.0% from $8.6 million the previous year.
Is Milestone Scientific profitable?
No. Milestone Scientific reported a net loss of $5.7 million in fiscal 2025, a net profit margin of −63.8%; its operating margin was −63.5%.
What is Milestone Scientific's gross margin?
Milestone Scientific's gross margin was 70.5% in fiscal 2025: for every $100 of revenue, Milestone Scientific kept $71 after the direct cost of its products and services.
How much does Milestone Scientific spend on research and development?
Milestone Scientific spent $0.4 million on research and development in fiscal 2025, 5.0% of revenue.
How fast is Milestone Scientific growing?
Revenue grew 10.5% a year on average over the last five fiscal years, from $5.4 million to $9.0 million.
What are Milestone Scientific's earnings per share?
Milestone Scientific earned $-0.06 per diluted share in fiscal 2025, compared with $-0.09 a year earlier.
When will Milestone Scientific report its next earnings?
Milestone Scientific is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Milestone Scientific's fiscal year end?
Milestone Scientific's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.