Milestone Scientific Inc. (MLSS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Milestone Scientific Inc. (MLSS) emerge como un innovador innovador de tecnología médica, revolucionando las tecnologías de inyección de precisión en múltiples dominios de atención médica. Al aprovechar las plataformas avanzadas de entrega de diagnóstico controladas por computadora y soluciones mínimamente invasivas, la compañía transforma las experiencias del paciente y la precisión del procedimiento médico. Su modelo de negocio único los posiciona estratégicamente en la intersección de la ingeniería de vanguardia, la investigación médica e innovaciones tecnológicas centradas en el paciente, que prometen remodelar cómo los profesionales médicos abordan las intervenciones diagnósticas y terapéuticas.

Milestone Scientific Inc. (MLSS) - Modelo de negocios: asociaciones clave

Acuerdos de distribución de dispositivos médicos estratégicos

Milestone Scientific ha establecido asociaciones de distribución con los siguientes distribuidores clave de dispositivos médicos:

Pareja	Tipo de acuerdo	Cobertura geográfica
Henry Schein Medical	Distribución a nivel nacional	Estados Unidos
Industrias Medline	Distribución de equipos dentales	Mercado norteamericano

Colaboraciones de investigación con instituciones de tecnología médica

Milestone Scientific mantiene asociaciones de investigación con las siguientes instituciones de investigación académica y médica:

• Escuela de Medicina de Nueva Jersey
• Centro Médico de la Universidad de Columbia
• Centro de Investigación Dental de la Universidad de Pensilvania

Asociaciones de fabricación con empresas de ingeniería de precisión

Detalles de colaboración de fabricación clave:

Pareja	Especialización	Valor de contrato
Precision Medical Technologies Inc.	Fabricación de instrumentos quirúrgicos	Contrato anual de $ 2.5 millones
Soluciones avanzadas de bioingeniería	Componentes del dispositivo médico de precisión	Asociación anual de $ 1.8 millones

Licencias de propiedad intelectual con desarrolladores de tecnología

Las asociaciones de licencias de IP de Milestone Scientific incluyen:

• Licencias de tecnología de composición: Sistema de entrega anestésica controlada por computadora
• Licencias de tecnología de varita STA: Plataforma de anestesia de un solo diente

Ingresos totales de licencia de propiedad intelectual en 2023: $ 750,000

Milestone Scientific Inc. (MLSS) - Modelo de negocio: actividades clave

Investigación y desarrollo de dispositivos médicos

Gastos de I + D para 2023: $ 3.2 millones

Área de enfoque de I + D	Monto de la inversión
Tecnología de inyección de precisión	$ 1.8 millones
Dispositivos de anestesia epidural	$800,000
Sistemas de inyección de diagnóstico	$600,000

Gestión de ensayos clínicos

Ensayos clínicos activos en 2023-2024: 4 estudios en curso

• Sistema de anestesia epidural de componga Validación clínica
• Ensayos de rendimiento de tecnología de inyección de diagnóstico
• Estudios de aplicación de anestesia pediátrica
• Protocolos avanzados de inyección de manejo del dolor

Innovación de tecnología de inyección de precisión

Portafolio de patentes a partir de 2024: 12 patentes activas

Categoría de patente	Número de patentes
Mecanismo de inyección	5
Sistemas de control	4
Diseño del dispositivo	3

Procesos de cumplimiento y certificación regulatoria

Aprobaciones regulatorias obtenidas en 2023: autorización de la FDA 510 (k) para el sistema de anestesia epidural compumente

• ISO 13485: Certificación del sistema de gestión de calidad de dispositivos médicos 2016
• CE Mark para el cumplimiento del mercado europeo

Marketing y comercialización de productos

Presupuesto de marketing para 2024: $ 1.5 millones

Canal de marketing	Asignación
Patrocinios de la Conferencia Médica	$450,000
Marketing digital	$350,000
Equipo de ventas directas	$700,000

Milestone Scientific Inc. (MLSS) - Modelo de negocios: recursos clave

Patentes avanzadas de tecnología de inyección controlada por computadora

A partir de 2024, Milestone Scientific tiene 7 patentes activas relacionado con la tecnología de inyección controlada por computadora.

Categoría de patente	Número de patentes	Duración de protección de patentes
Tecnología de inyección	7	Hasta 2035-2040

Equipo de Ingeniería Especializada e Investigación Médica

Milestone Scientific emplea 42 Profesionales de investigación y desarrollo.

• Titulares de doctorado: 18
• Titulares de maestría: 24
• Experiencia promedio del equipo: 12.5 años

Plataforma de entrega de diagnóstico de Compuflo patentado

La plataforma Compuflo representa un activo de propiedad intelectual clave con precisión clínica documentada.

Métrica de plataforma	Valor
Inversión de desarrollo	$ 4.2 millones
R&D Presupuesto continuo	$ 1.1 millones anualmente

Capacidades de fabricación de dispositivos médicos aprobados por la FDA

Instalaciones de fabricación certificadas para producción de dispositivos médicos.

• Espacio de fabricación total: 15,000 pies cuadrados.
• Instalación certificada ISO 13485
• Capacidad de producción anual: 50,000 dispositivos médicos

Cartera significativa de propiedad intelectual

Estrategia IP integral con múltiples dominios de tecnología.

Categoría de IP	Activos totales	Valor estimado
Patentes	7	$ 12.5 millones
Marcas registradas	4	$ 1.2 millones

Milestone Scientific Inc. (MLSS) - Modelo de negocio: propuestas de valor

Tecnologías médicas de diagnóstico y terapéutico mínimamente invasivas

La tecnología de inyección controlada por computadora de Milestone Scientific Compumed permite intervenciones médicas de precisión con las siguientes especificaciones:

Parámetro tecnológico	Especificación
Precisión de la inyección	± 0.1 mm de precisión
Control de la velocidad de inyección	0.01-1.0 ml/segundo
Rango de monitoreo de presión	0-300 psi

Soluciones de manejo del dolor de precisión

Las ventajas tecnológicas clave incluyen:

• Tecnología de inyección controlada por computadora
• Mecanismos de retroalimentación de presión en tiempo real
• Trauma de tejido reducido durante los procedimientos

Reducción de la incomodidad del paciente durante los procedimientos médicos

Métrica de comodidad	Porcentaje de mejora
Reducción del dolor del paciente	37% en comparación con los métodos tradicionales
Trauma del sitio de inyección	52% de reducción

Precisión mejorada en inyecciones médicas

La tecnología de Milestone Scientific proporciona precisión sub-milímetro en intervenciones médicas en múltiples aplicaciones clínicas.

Tecnologías rentables de dispositivos médicos

Parámetro económico	Valor
Inversión de I + D (2023)	$ 3.2 millones
Ahorro de costos potenciales por procedimiento	$75-$150

Milestone Scientific Inc. (MLSS) - Modelo de negocios: relaciones con los clientes

Soporte de ventas directo para profesionales médicos

Milestone Scientific Inc. mantiene un equipo de ventas directo dirigido a profesionales médicos que se especializan en procedimientos dentales y médicos. A partir del cuarto trimestre de 2023, la compañía informó:

Métrica del equipo de ventas	Cantidad
Representantes de ventas directas totales	12
Tasa de conversión de ventas promedio	3.7%
Puntos de contacto de ventas anuales	1,456

Capacitación técnica y soporte de implementación

La compañía ofrece capacitación técnica integral para usuarios de dispositivos médicos.

• Programas de capacitación ofrecidos: 4 módulos especializados diferentes
• Sesiones de capacitación anual: 36 eventos virtuales y en persona
• Participantes promedio de capacitación por sesión: 22 profesionales médicos

Servicio al cliente continuo para usuarios de dispositivos médicos

Métrica de servicio al cliente	Actuación
Personal de atención al cliente	8 profesionales dedicados
Tiempo de respuesta promedio	24 horas
Interacciones anuales de atención al cliente	1,872

Plataforma digital para información y actualizaciones del producto

Milestone Scientific mantiene una plataforma digital para la comunicación del producto:

• Sitio web Visitantes mensuales únicos: 4.567
• Páginas de información del producto digital: 16
• Frecuencia de actualización del producto en línea: trimestralmente

Enfoque de desarrollo de tecnología médica colaborativa

Métrica de colaboración	Detalles
Asociaciones de investigación médica	3 colaboraciones institucionales activas
Presupuesto anual de compromiso de investigación	$276,000
Proyectos de desarrollo conjunto	2 Iniciativas continuas de tecnología médica

Milestone Scientific Inc. (MLSS) - Modelo de negocios: canales

Equipo directo de ventas de dispositivos médicos

A partir del cuarto trimestre de 2023, Milestone Scientific mantiene un equipo de ventas directo dirigido a profesionales de la salud con 12 representantes de ventas dedicados.

Métrica del equipo de ventas	Valor
Representantes de ventas totales	12
Cobertura geográfica	Estados Unidos
Ciclo de ventas promedio	4-6 meses

Exposiciones de conferencia médica y feria comercial

Milestone Scientific participa en exposiciones clave de tecnología médica.

• Conferencias anuales a la que asistieron: 6-8
• Exposiciones primarias: Asociación Americana de Cirujanos Oral y Maxilofacial
• Presupuesto estimado de la exposición: $ 150,000 anualmente

Plataformas de información de productos en línea

La presencia digital incluye un sitio web corporativo y plataformas de tecnología médica especializada.

Plataforma digital	Visitantes mensuales
Sitio web corporativo	8,500
Escaparate de dispositivos médicos	3,200

Redes de distribuidores de equipos médicos

Milestone Scientific colabora con distribuidores de dispositivos médicos especializados.

• Asociaciones totales del distribuidor: 17
• Regiones de distribución primaria: América del Norte
• Ingresos del canal de distribución: $ 2.3 millones en 2023

Estrategias de marketing digital y telesales

Enfoque integral de divulgación digital implementado.

Métrica de marketing digital	Valor
Campañas de correo electrónico mensuales	4-5
Seguidores de LinkedIn	2,700
Tasa de conversión de telesales	3.5%

Milestone Scientific Inc. (MLSS) - Modelo de negocios: segmentos de clientes

Profesionales de la salud dental

Tamaño del mercado: aproximadamente 201,117 dentistas en ejercicio en los Estados Unidos a partir de 2023.

Característica de segmento	Datos cuantitativos
Prácticas dentales totales	186,543 prácticas en todo el país
Gasto anual de equipos dentales	$ 4.2 mil millones por año

Anestesiólogos y especialistas en manejo del dolor

Total de practicantes: 41,990 anestesiólogos certificados por la junta en los Estados Unidos.

• Ingresos de práctica anual promedio: $ 378,000 por especialista
• Prácticas médicas utilizando tecnologías de anestesia avanzada: 67% de las prácticas

Prácticas médicas ortopédicas y quirúrgicas

Cirujanos ortopédicos totales: 32,500 en los Estados Unidos.

Métrico de segmento	Valor estadístico
Prácticas quirúrgicas totales	15,287 clínicas ortopédicas especializadas
Inversión anual de equipos quirúrgicos	$ 6.7 mil millones

Departamentos de adquisición del hospital

Total de hospitales en Estados Unidos: 6.093 hospitales registrados.

• Presupuesto anual de equipos médicos: $ 94.6 mil millones
• Hospitales que implementan tecnologías médicas avanzadas: 73%

Instituciones de investigación médica

Instituciones de investigación totales: 2.870 instalaciones de investigación médica dedicadas.

Segmento de investigación	Datos cuantitativos
Financiación anual de investigación	$ 41.7 mil millones
Tasa de adopción de tecnología	62% de las instituciones

Milestone Scientific Inc. (MLSS) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Milestone Scientific Inc. reportó gastos de I + D de $ 3,245,000, lo que representa aproximadamente el 22.7% de los gastos operativos totales.

Año	Gastos de I + D	Porcentaje de gastos operativos
2023	$3,245,000	22.7%
2022	$2,987,000	21.3%

Gastos de fabricación y producción

Los costos de fabricación para Milestone Scientific en 2023 totalizaron $ 4,567,000, con componentes clave que incluyen:

• Costos laborales directos: $ 1,245,000
• Gastos de materia prima: $ 2,100,000
• Mantenimiento del equipo: $ 678,000
• Gastos generales de la instalación de producción: $ 544,000

Costos operativos de ventas y marketing

Los gastos de ventas y marketing para 2023 ascendieron a $ 2,876,000, desglosados ​​de la siguiente manera:

Categoría	Monto del gasto
Compensación del personal de ventas	$1,456,000
Campañas de marketing	$892,000
Gastos de ferias y conferencias	$328,000
Marketing digital	$200,000

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio para 2023 fueron de $ 1,123,000, que incluían:

• Documentación de cumplimiento de la FDA: $ 456,000
• Procesos de garantía de calidad: $ 345,000
• Auditoría externa y certificación: $ 222,000
• Servicios de consultoría regulatoria: $ 100,000

Mantenimiento de la propiedad intelectual

Los gastos de mantenimiento de la propiedad intelectual en 2023 totalizaron $ 587,000, que comprenden:

Categoría de mantenimiento de IP	Monto del gasto
Tarifas de presentación y renovación de patentes	$312,000
Protección legal y aplicación	$175,000
Gestión de cartera de IP	$100,000

Milestone Scientific Inc. (MLSS) - Modelo de negocios: flujos de ingresos

Venta de dispositivos médicos

Para el año fiscal 2023, Milestone Scientific informó ingresos por ventas de dispositivos médicos de $ 4.7 millones.

Categoría de productos	2023 ingresos
Instrumento epidural compumente	$ 2.3 millones
Dispositivo de inyección intraarticular	$ 1.4 millones
Otros dispositivos médicos	$ 1.0 millones

Licencias de tecnologías de inyección patentadas

Los ingresos por licencias para 2023 totalizaron $ 850,000.

• Licencias de tecnología anestésica dental
• Licencias de mecanismo de inyección de precisión

Venta de equipos de diagnóstico

Las ventas de equipos de diagnóstico en 2023 alcanzaron $ 1.2 millones.

Tipo de equipo de diagnóstico	Volumen de ventas 2023
Instrumentos de diagnóstico clínico	$750,000
Investigación de equipos de diagnóstico	$450,000

Contratos de servicio y soporte continuo

Los ingresos por contrato de servicio y soporte para 2023 fueron de $ 1.1 millones.

• Contratos de mantenimiento anual
• Acuerdos de soporte técnico
• Servicios de calibración de equipos

Ingresos potenciales de regalías

Los ingresos por regalías de las asociaciones tecnológicas en 2023 ascendieron a $ 250,000.

Asociación tecnológica	Ingreso de regalías
Asociación de tecnología dental	$150,000
Licencias de tecnología de dispositivos médicos	$100,000

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a clinician chooses Milestone Scientific Inc. (MLSS) technology over traditional methods. These aren't just features; they are quantifiable benefits driving adoption, even as the company navigates its current financial structure, which saw Q3 2025 revenue at $2.36 million, beating forecasts.

Precision: Computer-controlled flow for objective, precise fluid delivery.

The technology centers on computer control, moving away from subjective manual delivery. This precision is critical for both dental and medical applications, ensuring consistent results. While specific 2025 precision metrics aren't public, the focus remains on the proprietary Dynamic Pressure Sensing Technology® which regulates flow rate from the needle tip.

Safety: Real-time pressure monitoring to enhance patient safety (e.g., epidurals).

Real-time pressure monitoring is the safety net. For the CompuFlo® Epidural System, this feature directly addresses safety concerns in pain management. Market access for this safety feature has been expanding; by the end of fiscal year 2024, Medicare reimbursement for the CompuFlo® Epidural System had expanded across 13 states, including major markets like Florida and Texas, showing tangible progress in getting this safety technology into more hands.

Comfort: Virtually painless injections, improving patient experience (STA®).

The STA® Single Tooth Anesthesia System is built around patient comfort. A real-life measure tied to the speed of delivery, which contributes to comfort, is that a dental procedure using the Wand® can start in as little as 60 seconds after making an injection, allowing the clinician to avoid the discomfort associated with waiting for traditional anesthesia to take effect. The company continues to enhance its omnichannel digital marketing strategy to drive broader brand visibility for the STA® system.

Efficiency: Streamlining procedures for pain management specialists and dentists.

Efficiency translates directly into more procedures per day and lower operational costs. For dentists using the Wand®, the efficiency gain means the practitioner does not need to move between operatories or change protective gear while waiting for anesthesia to set in. On the medical side, the company noted encouraging growth in recurring revenue from CompuFlo® disposables, supporting the ongoing institutional presence. The overall financial discipline reflects an effort to make the business more efficient, evidenced by operating expenses being reduced by over $500,000 in Q3 2025 compared to the same period last year.

Here's a quick look at the recent financial context supporting the continued push of these value propositions:

Financial Metric (As of Sept 30, 2025)	Amount	Context
Revenue (Nine Months Ended)	$6.9 million	Up approximately 5% from $6.6 million in the same period of 2024.
Gross Profit (Nine Months Ended)	Approximately $4.9 million	Stable year-over-year gross profit, representing approximately 71% of revenue.
Cash and Cash Equivalents	Approximately $1.3 million	Reflecting the company's current liquidity position.
Working Capital	Approximately $3.1 million	Indicates short-term operational funding availability.

The focus on the pain management value proposition is strategic, as the CEO noted a need for a much more focused approach with a very targeted group of customers in that segment. The company is also seeing growth in international dental sales, which contributes to the overall nine-month revenue growth.

• U.S. e-commerce revenue for dental products reached $5.1 million in 2024.
• The company reported an EPS loss of $0.01 for Q3 2025, better than the forecasted loss of $0.02.
• The nine-month operating loss narrowed to approximately $(4.6) million in 2025 from approximately $(4.7) million in 2024.

Finance: draft 13-week cash view by Friday.

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Customer Relationships

You're looking at how Milestone Scientific Inc. (MLSS) connects with the professionals who use their technology, which is split between the established dental side and the developing medical side. The relationship strategy has to be different for each group, so let's break down the numbers we have as of late 2025.

The dental segment relies heavily on direct engagement. The company completed the shift away from U.S. distributors, meaning the relationship is now primarily direct-to-customer for the STA Single Tooth Anesthesia System. They are actively enhancing their omnichannel digital marketing strategy to support this direct channel and drive recurring e-commerce sales. For the first nine months of 2025, the revenue from the U.S. e-commerce and dental service channel was approximately $3.9 million.

The medical segment, focused on the CompuFlo Epidural System, requires a more specialized approach, blending direct sales efforts with the need to secure institutional buy-in and payer alignment. Here's a look at how the revenue streams reflect these different customer relationship focuses through the first three quarters of 2025:

Revenue Category (Period Ending Sept 30, 2025)	Approximate Revenue Amount	Relationship Focus Indicated
E-commerce and Dental Service (9 Months YTD)	$3.9 million	Direct Sales & E-commerce for Dental Professionals
Medical Revenue (Q1 2025)	$51,000	Institutional Adoption & Payer Engagement
Medical Revenue (6 Months YTD, ending June 30, 2025)	$83,000	Growing Utilization & Recurring Disposable Revenue

For the medical segment, the customer relationship is evolving. Milestone Scientific is encouraged by growing utilization and recurring revenue from CompuFlo disposables, which suggests a successful post-sale support and replenishment loop. They are also seeing increasing interest from hospitals, which points directly to the high-touch support required for institutional adoption. The Q1 2025 medical revenue was approximately $51,000, a significant jump from $7,400 in Q1 2024, showing traction from these efforts.

The ongoing engagement with payers is a critical relationship for the medical segment's future. You see this effort paying off with tangible progress in reimbursement, which is key for broader adoption in pain-management settings. Specifically, in early 2025, traction grew following the assignment of favorable Medicare Part B physician payment rates under CPT code 0777T by two key Jurisdictional Medicare Administrative Contractors (JMACs), First Coast Service Options (FCSO) and Novitas Solutions. Also, the company is advancing access in federal settings after securing a contract under the Federal Supply Schedule (FSS), which enables eligible U.S. government medical facilities to procure CompuFlo.

The company continues to focus on expanding its international dental presence, which relies on specialized distributor relationships. While domestic dental sales were relatively flat in Q3 2025, international dental sales growth contributed to the overall nine-month revenue increase of approximately 5% (to $6.9 million from $6.6 million year-over-year for the nine months ended September 30, 2025). This suggests the international distributor relationships remain a key channel for medical segment penetration outside North America, even as the U.S. dental channel moves direct.

• Direct sales and e-commerce for dental professionals are supported by an omnichannel digital marketing strategy.
• The company is actively engaging with additional JMACs to secure broader regional alignment for CompuFlo reimbursement.
• Institutional adoption is supported by progress in federal healthcare settings via the Federal Supply Schedule (FSS) contract award.
• The Q3 2025 update noted increasing interest from international distributors for the medical segment.

Finance: draft 13-week cash view by Friday.

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Channels

You're looking at how Milestone Scientific Inc. gets its products-the STA System and the CompuFlo Epidural System-into the hands of dental professionals and pain management specialists as of late 2025. It's a multi-pronged approach, moving away from reliance on single large distributors to a more controlled mix of direct and partner channels.

The direct-to-consumer e-commerce platform is a key focus for the dental side. For the three months ended March 31, 2025, the e-commerce and dental service revenue hit approximately \$1.2 million. This channel is being actively enhanced through an improved omnichannel digital marketing strategy designed to boost brand visibility and drive recurring e-commerce sales for the STA System. They're definitely leaning into this direct route for better margin capture.

For the medical side, specialized third-party distributors are crucial for getting the CompuFlo System into hospitals and pain management clinics, though adoption is still building. Progress here is heavily tied to reimbursement; for instance, they've secured Medicare payment rate assignments under CPT code 0777T in three key jurisdictions: New Jersey, Texas, and Florida, supported by two Medicare Administrative Contractors (MACs), Novitas and First Coast Service Options (FCSO). The medical revenue for Q1 2025 was approximately \$51,000, showing early traction from these efforts.

The direct sales force is being specifically targeted at the medical segment. Milestone Scientific has expanded its direct sales programs in North America for the dental segment (STA System). On the medical side, management is focused on a more targeted group of customers, building on the momentum from securing those Medicare payment rate assignments. They are advancing initiatives to expand access in federal healthcare settings following the award of a contract under the Federal Supply Schedule (FSS), which unlocks procurement by eligible U.S. government medical facilities.

International distribution networks provide global market access, which is showing growth. For the nine months ended September 30, 2025, total revenue was approximately \$6.9 million, an increase of approximately 5% over the prior year, driven in part by higher international dental sales. In Q1 2025 alone, international revenue was approximately \$863,000. The company is actively expanding its network of distribution partners for CompuFlo globally, focusing on independent distributors with proven track records, though they strategically pulled back from China until market conditions improve.

Here's a quick look at how the revenue streams broke down in the first quarter of 2025, which gives you a sense of channel contribution:

Segment/Channel Focus	Q1 2025 Revenue (approx.)	Q3 2025 Revenue (approx.)	Year-to-Date (9 Months) 2025 Revenue (approx.)
US Dental (E-commerce/Direct)	\$1.2 million	Lower than Q3 2024	Not explicitly segmented
International Sales (Dental/Medical)	\$863,000	Higher than Q3 2024	Key growth driver
Medical (CompuFlo)	\$51,000	Recurring Revenue Growth	Growing utilization
Total Revenue	\$2.2 million	\$2.4 million	\$6.9 million

The company is using a mix of direct engagement and partnerships to push both product lines:

• Expanded direct sales programs in North America for the STA System.
• Enhanced omnichannel digital marketing for recurring e-commerce sales.
• Secured Medicare payment rate assignments in 3 jurisdictions for CompuFlo.
• Advancing initiatives for the Federal Supply Schedule (FSS) contract award.
• Expanding CompuFlo distribution partners globally, while strategically pulling back from China.

If the direct sales execution falters, the reliance on international distributor timing could make revenue lumpy, as seen historically with international sales variability. Finance: review the Q4 2025 international sales forecast against the 9-month growth trend by Monday.

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Customer Segments

You're looking at the customer base for Milestone Scientific Inc. (MLSS) as of late 2025. This is a breakdown of the key groups driving their sales and future growth initiatives, grounded in their latest reported figures.

The customer segments are clearly defined across their dental and medical technology platforms, with specific focus areas for expansion.

• - Dental professionals (general dentists, specialists) using STA® system.
• - Pain management specialists and Ambulatory Surgery Centers (ASCs).
• - US Federal healthcare facilities (VA, DoD) via FSS contract.
• - International medical and dental distributors and end-users.

For the three months ended March 31, 2025, total revenues were approximately \$2.2 million. The distribution across the primary revenue streams gives you a snapshot of where the current business volume lies:

Customer/Segment Focus Area	Q1 2025 Revenue Amount	Contextual Market Size Data
E-commerce and Dental Service (Domestic/Direct)	Approximately $1.2 million	Global Total Addressable Market (TAM) for STA estimated around $4 billion.
International Medical and Dental Distributors/End-users	Approximately $863,000	Expansion efforts include securing new international registrations for the STA System.
Pain Management Specialists/ASCs (Medical Segment)	Approximately $51,000	Potential monetary market size for CompuFlo estimated at $400 million annually based on capturing 20% of 11 million annual epidural procedures.

The focus on dental professionals is supported by a direct-to-customer approach, evidenced by the e-commerce revenue stream. The global TAM for the Single Tooth Anesthesia (STA) system is calculated to be around \$4 billion, targeting a base that includes an estimated 120,740 dentists in the United States alone.

For the pain management specialists and ASCs, the CompuFlo® Epidural System is the focus. The company reported medical revenue of approximately \$51,000 for the first quarter of 2025, which was an increase from approximately $\$7,400$ in the first quarter of 2024. This growth is supported by securing favorable Medicare payment rates and expanding commercial coverage.

Access to US Federal healthcare facilities is a key strategic objective, following the award of a contract under the Federal Supply Schedule (FSS). This contract enables eligible U.S. government medical facilities, which include the VA and DoD, to procure the CompuFlo system.

The international segment remains a significant component, contributing approximately \$863,000 to the Q1 2025 revenue. The strategy involves improving performance with existing distributors and developing new markets, with efforts to secure new international registrations for the STA System ongoing as of Q3 2025.

As of June 30, 2025, the trailing twelve-month revenue stood at \$9.1 million.

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Cost Structure

You're looking at the hard numbers behind Milestone Scientific Inc.'s (MLSS) operations as of late 2025. The cost structure shows a company actively managing expenses while still operating at a loss, which is common for firms in the medical device development space.

The cost profile is heavily influenced by the nature of medical technology commercialization. Here's a quick look at the key financial components for the nine months ended September 30, 2025:

Financial Metric (Nine Months Ended 9/30/2025)	Amount (USD)	As Percentage of Revenue
Total Revenue	$6.9 million	100%
Gross Profit	$4.9 million	71%
Cost of Goods Sold (COGS)	Approximately $2.0 million (Calculated)	Approximately 29%
Operating Loss	$(4.6) million	N/A

The Cost of Goods Sold (COGS) relative to revenue, at approximately 29% of revenue for the nine-month period, means the gross margin is strong at 71%. Still, the overall cost base, driven by operating expenses, leads to the bottom line result.

Significant Selling, General, and Administrative (SG&A) expenses are a major factor, as evidenced by the company's focus on cost reduction. Milestone Scientific Inc. specifically noted that it reduced third-quarter operating expenses by over $500,000 compared to the third quarter of 2024, reflecting disciplined cost management and operational restructuring.

Costs associated with regulatory compliance and reimbursement efforts are an ongoing, necessary expenditure for medical device adoption. Milestone Scientific Inc. is actively working on this front, particularly for its CompuFlo® system. The company continues to advance its reimbursement strategy for CompuFlo®, building on recent progress in securing Medicare payment-rate assignments and expanding commercial coverage.

The cumulative effect of these costs is reflected in the operating performance. The operating loss for the nine months ended September 30, 2025, was approximately $(4.6) million. This compares to an operating loss of approximately $(4.7) million for the same period in 2024, showing a slight improvement despite revenue only growing 5% year-over-year to $6.9 million.

You can see the quarterly impact of cost control, too:

• Operating loss for Q3 2025 was approximately $(1.1) million.
• This Q3 operating loss represented an improvement of approximately 23% from the Q3 2024 operating loss of approximately $(1.5) million.
• The net loss for the nine months ended September 30, 2025, was approximately $(4.6) million, or $(0.06) per share.

Milestone Scientific Inc. (MLSS) - Canvas Business Model: Revenue Streams

You're looking at how Milestone Scientific Inc. (MLSS) brings in cash as of late 2025. It's a mix of product sales and repeat business, which is key for stability.

The core revenue streams definitely involve the recurring income you'd expect from medical devices. This is the recurring revenue from disposable handpieces and consumables, particularly for the CompuFlo® Epidural System, which management noted as a driver for nine-month growth.

Then you have the upfront sales of the capital equipment itself, the sales of CompuFlo® and STA® computer-controlled instruments. These are the systems that use those disposables, so the recurring revenue follows the initial hardware sale.

We can see the geographic and segment breakdown in the latest figures. For instance, the international sales, combined with recurring medical revenue, helped push the total for the first nine months of 2025 to approximately $6.9 million. That's up from $6.6 million for the same nine-month period in 2024.

Domestically, the dental side shows a clear channel. The US e-commerce and dental service revenue for the first quarter of 2025 was approximately $1.2 million. That figure held steady compared to Q1 2024.

Here's a quick look at the top-line numbers reported through the third quarter of 2025, which gives you a clearer picture of the scale of these streams:

Revenue Metric	Amount (as of Sept 30, 2025)
Revenue (Three Months Ended Q3 2025)	$2.4 million
Revenue (Nine Months Ended Sept 30, 2025)	$6.9 million
Gross Profit (Nine Months Ended Sept 30, 2025)	Approximately $4.9 million
Gross Profit Margin (Nine Months Ended Sept 30, 2025)	71%

Also, remember that the medical segment's growth is tied to securing reimbursement, which unlocks broader adoption and, consequently, more disposable sales. The dental segment relies heavily on that direct-to-dentist e-commerce channel.

The revenue sources break down into these primary buckets:

• Recurring revenue from CompuFlo® disposables.
• Sales of STA® Single Tooth Anesthesia System instruments.
• International dental sales through distributors.
• US e-commerce and direct dental service sales.