Milestone Scientific Inc. (MLSS): Business Model Canvas [Jan-2025 Mis à jour]

Milestone Scientific Inc. (MLSS) émerge comme un innovateur révolutionnaire en technologie médicale, révolutionnant les technologies d'injection de précision dans plusieurs domaines de santé. En tirant parti des plates-formes de diagnostic avancées contrôlées par ordinateur et des solutions mini-invasives, l'entreprise transforme les expériences des patients et la précision de la procédure médicale. Leur modèle commercial unique les positionne stratégiquement à l'intersection de l'ingénierie de pointe, de la recherche médicale et des innovations technologiques centrées sur le patient, promettant de remodeler la façon dont les professionnels de la santé abordent les interventions diagnostiques et thérapeutiques.

Milestone Scientific Inc. (MLSS) - Modèle commercial: partenariats clés

Accords de distribution de dispositifs médicaux stratégiques

Milestone Scientific a établi des partenariats de distribution avec les principaux distributeurs de dispositifs médicaux suivants:

Partenaire	Type d'accord	Couverture géographique
Henry Schein Medical	Distribution à l'échelle nationale	États-Unis
Industries Medline	Distribution de l'équipement dentaire	Marché nord-américain

Collaborations de recherche avec des institutions de technologie médicale

Milestone Scientific maintient des partenariats de recherche avec les établissements de recherche académique et médicale suivants:

• École de médecine du New Jersey
• Centre médical de l'Université Columbia
• Centre de recherche dentaire de l'Université de Pennsylvanie

Fabrication de partenariats avec les sociétés d'ingénierie de précision

Détails de collaboration de fabrication clés:

Partenaire	Spécialisation	Valeur du contrat
Precision Medical Technologies Inc.	Fabrication d'instruments chirurgicaux	Contrat annuel de 2,5 millions de dollars
Solutions de bio-ingénierie avancées	Composants de dispositifs médicaux de précision	1,8 million de dollars de partenariat annuel

Licence de propriété intellectuelle avec des développeurs de technologies

Les partenariats de licence IP de Milestone Scientific comprennent:

• Licence de technologie compudée: Système de livraison anesthésique contrôlé par ordinateur
• Licence de technologie Wand STA: Plate-forme d'anesthésie à dent unique

Revenu total de licences de propriété intellectuelle en 2023: 750 000 $

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: Activités clés

Recherche et développement des dispositifs médicaux

Dépenses de R&D pour 2023: 3,2 millions de dollars

Zone de focus R&D	Montant d'investissement
Technologie d'injection de précision	1,8 million de dollars
Dispositifs d'anesthésie péridurale	$800,000
Systèmes d'injection de diagnostic	$600,000

Gestion des essais cliniques

Essais cliniques actifs en 2023-2024: 4 études en cours

• Système d'anesthésie péridurale compumée validation clinique
• Essais de performance de la technologie d'injection de diagnostic
• Études d'application d'anesthésie pédiatrique
• Protocoles d'injection de gestion de la douleur avancée

Innovation technologique d'injection de précision

Portefeuille de brevets à partir de 2024: 12 brevets actifs

Catégorie de brevet	Nombre de brevets
Mécanisme d'injection	5
Systèmes de contrôle	4
Conception d'appareil	3

Processus de conformité réglementaire et de certification

Approbations réglementaires obtenues en 2023: FDA 510 (k) Autorisation pour le système d'anesthésie péridurale compum

• ISO 13485: Certification du système de gestion de la qualité des appareils médicaux 2016
• CE Mark pour la conformité du marché européen

Marketing et commercialisation des produits

Budget marketing pour 2024: 1,5 million de dollars

Canal de marketing	Allocation
Commanditaires de la conférence médicale	$450,000
Marketing numérique	$350,000
Équipe de vente directe	$700,000

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: Ressources clés

Brevets de technologie d'injection contrôlée par ordinateur avancé

En 2024, Milestone Scientific détient 7 brevets actifs lié à la technologie d'injection contrôlée par ordinateur.

Catégorie de brevet	Nombre de brevets	Durée de protection des brevets
Technologie d'injection	7	Jusqu'en 2035-2040

Équipe spécialisée d'ingénierie et de recherche médicale

Milestone Scientific utilise 42 professionnels de la recherche et du développement.

• Tapisseurs de doctorat: 18
• Titulaires de maîtres: 24
• Expérience moyenne de l'équipe: 12,5 ans

Plate-forme de livraison de diagnostic de compriflo propriétaire

La plate-forme compuflo représente un actif de propriété intellectuelle clé avec une précision clinique documentée.

Métrique de la plate-forme	Valeur
Investissement en développement	4,2 millions de dollars
R&D Budget continu	1,1 million de dollars par an

Capacités de fabrication de dispositifs médicaux approuvés par la FDA

Installations de fabrication certifiées pour Production de dispositifs médicaux.

• Espace de fabrication total: 15 000 pieds carrés.
• Facilité certifiée ISO 13485
• Capacité de production annuelle: 50 000 dispositifs médicaux

Portfolio de propriété intellectuelle importante

Stratégie IP complète avec plusieurs domaines technologiques.

Catégorie IP	Actif total	Valeur estimée
Brevets	7	12,5 millions de dollars
Marques	4	1,2 million de dollars

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: propositions de valeur

Technologies médicales diagnostiques et thérapeutiques mini-invasives

La technologie d'injection contrôlée par ordinateur de Milestone Scientific permet les interventions médicales de précision avec les spécifications suivantes:

Paramètre technologique	Spécification
Précision de l'injection	± 0,1 mm de précision
Contrôle de vitesse d'injection	0,01-1,0 ml / seconde
Plage de surveillance de la pression	0-300 psi

Solutions de gestion de la douleur de précision

Les principaux avantages technologiques comprennent:

• Technologie d'injection contrôlée par ordinateur
• Mécanismes de rétroaction de la pression en temps réel
• Traumatisme tissulaire réduit pendant les procédures

Réduction de l'inconfort des patients pendant les procédures médicales

Métrique de confort	Pourcentage d'amélioration
Réduction de la douleur du patient	37% par rapport aux méthodes traditionnelles
Traumatisme du site d'injection	Réduction de 52%

Précision accrue des injections médicales

La technologie de Milestone Scientific fournit Précision sous-millimètre dans les interventions médicales sur plusieurs applications cliniques.

Technologies de dispositifs médicaux rentables

Paramètre économique	Valeur
Investissement en R&D (2023)	3,2 millions de dollars
Économies potentielles par procédure	$75-$150

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: relations avec les clients

Assistance des ventes directes pour les professionnels de la santé

Milestone Scientific Inc. maintient une équipe de vente directe ciblant les professionnels de la santé spécialisés dans les procédures dentaires et médicales. Au quatrième trimestre 2023, la société a rapporté:

Métrique de l'équipe de vente	Quantité
Représentants totaux des ventes directes	12
Taux de conversion des ventes moyens	3.7%
Points de contact des ventes annuels	1,456

Prise en charge technique de formation et de mise en œuvre

L'entreprise offre une formation technique complète aux utilisateurs de dispositifs médicaux.

• Programmes de formation offerts: 4 modules spécialisés différents
• Sessions de formation annuelles: 36 événements virtuels et en personne
• Formation moyenne Participants par session: 22 professionnels de la santé

Service client continu pour les utilisateurs de dispositifs médicaux

Métrique du service client	Performance
Personnel de support client	8 professionnels dévoués
Temps de réponse moyen	24 heures
Interactions annuelles sur le support client	1,872

Plateforme numérique pour les informations et les mises à jour des produits

Milestone Scientific maintient une plate-forme numérique pour la communication des produits:

• Site Web Visiteurs mensuels uniques: 4 567
• Pages d'informations sur les produits numériques: 16
• Fréquence de mise à jour du produit en ligne: trimestriel

Approche de développement de la technologie médicale collaborative

Métrique de collaboration	Détails
Partenariats de recherche médicale	3 collaborations institutionnelles actives
Budget annuel de l'engagement de la recherche	$276,000
Projets de développement conjoints	2 initiatives de technologie médicale en cours

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: canaux

Équipe de vente de dispositifs médicaux directs

Depuis le quatrième trimestre 2023, Milestone Scientific maintient une équipe de vente directe ciblant les professionnels de la santé avec 12 représentants des ventes dédiés.

Métrique de l'équipe de vente	Valeur
Représentants des ventes totales	12
Couverture géographique	États-Unis
Cycle de vente moyen	4-6 mois

Expositions de conférence médicale et de salon

Milestone Scientific participe aux principales expositions de technologie médicale.

• Conférences annuelles présentes: 6-8
• Expositions primaires: Association américaine des chirurgiens oraux et maxillo-faciaux
• Budget d'exposition estimé: 150 000 $ par an

Plateformes d'informations sur les produits en ligne

La présence numérique comprend un site Web d'entreprise et des plateformes de technologie médicale spécialisées.

Plate-forme numérique	Visiteurs mensuels
Site Web de l'entreprise	8,500
Vitrine des dispositifs médicaux	3,200

Réseaux de distributeurs d'équipements médicaux

Milestone Scientific collabore avec des distributeurs de dispositifs médicaux spécialisés.

• Partenariats totaux des distributeurs: 17
• Régions de distribution primaire: Amérique du Nord
• Revenus de canal de distribution: 2,3 millions de dollars en 2023

Stratégies de marketing numérique et de télévente

Approche complète de sensibilisation numérique mise en œuvre.

Métrique du marketing numérique	Valeur
Campagnes par e-mail mensuelles	4-5
LinkedIn adepte	2,700
Taux de conversion de la télévision	3.5%

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: segments de clientèle

Professionnels de la santé dentaire

Taille du marché: environ 201 117 dentistes pratiquants aux États-Unis en 2023.

Caractéristique du segment	Données quantitatives
Total des pratiques dentaires	186 543 pratiques à l'échelle nationale
Dépenses annuelles d'équipement dentaire	4,2 milliards de dollars par an

Anesthésiologistes et spécialistes de la gestion de la douleur

Total des praticiens: 41 990 anesthésiologistes certifiés au conseil d'administration aux États-Unis.

• Revenus de pratique annuelle moyens: 378 000 $ par spécialiste
• Pratiques médicales utilisant des technologies avancées d'anesthésie: 67% des pratiques

Pratiques médicales orthopédiques et chirurgicales

Total des chirurgiens orthopédistes: 32 500 aux États-Unis.

Métrique du segment	Valeur statistique
Pratiques chirurgicales totales	15 287 cliniques orthopédiques spécialisées
Investissement annuel d'équipement chirurgical	6,7 milliards de dollars

Départements des achats d'hôpital

Hôpitaux totaux aux États-Unis: 6 093 hôpitaux enregistrés.

• Budget annuel de l'équipement médical: 94,6 milliards de dollars
• Hôpitaux mettant en œuvre des technologies médicales avancées: 73%

Institutions de recherche médicale

Institutions totales de recherche: 2 870 installations de recherche médicale dédiées.

Segment de recherche	Données quantitatives
Financement de la recherche annuelle	41,7 milliards de dollars
Taux d'adoption de la technologie	62% des institutions

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Milestone Scientific Inc. a déclaré des dépenses de R&D de 3 245 000 $, ce qui représente environ 22,7% du total des dépenses d'exploitation.

Année	Dépenses de R&D	Pourcentage des dépenses d'exploitation
2023	$3,245,000	22.7%
2022	$2,987,000	21.3%

Frais de fabrication et de production

Les coûts de fabrication de Milestone Scientific en 2023 ont totalisé 4 567 000 $, avec des composants clés, notamment:

• Coûts de main-d'œuvre directs: 1 245 000 $
• Dépenses de matières premières: 2 100 000 $
• Entretien de l'équipement: 678 000 $
• Frais généraux des installations de production: 544 000 $

Coûts opérationnels des ventes et du marketing

Les frais de vente et de marketing pour 2023 s'élevaient à 2 876 000 $, ventilés comme suit:

Catégorie	Montant des dépenses
Compensation du personnel des ventes	$1,456,000
Campagnes marketing	$892,000
Frais de recours au salon et aux conférences	$328,000
Marketing numérique	$200,000

Dépenses de conformité réglementaire

Les coûts de conformité réglementaire pour 2023 étaient de 1 123 000 $, notamment:

• Documentation de la conformité de la FDA: 456 000 $
• Processus d'assurance qualité: 345 000 $
• Audit et certification externes: 222 000 $
• Services de conseil en réglementation: 100 000 $

Maintenance de la propriété intellectuelle

Les dépenses de maintenance de la propriété intellectuelle en 2023 ont totalisé 587 000 $, comprenant:

Catégorie de maintenance IP	Montant des dépenses
Frais de dépôt de brevets et de renouvellement	$312,000
Protection juridique et application	$175,000
Gestion du portefeuille IP	$100,000

Milestone Scientific Inc. (MLSS) - Modèle d'entreprise: Strots de revenus

Ventes de dispositifs médicaux

Pour l'exercice 2023, Milestone Scientific a déclaré un chiffre d'affaires de dispositifs médicaux de 4,7 millions de dollars.

Catégorie de produits	Revenus de 2023
Instrument péridural compum	2,3 millions de dollars
Dispositif d'injection intra-articulaire	1,4 million de dollars
Autres dispositifs médicaux	1,0 million de dollars

Licence des technologies d'injection propriétaires

Les revenus de licence pour 2023 ont totalisé 850 000 $.

• Licence de technologie anesthésique dentaire
• Licence de mécanisme d'injection de précision

Ventes d'équipements de diagnostic

Les ventes d'équipements de diagnostic en 2023 ont atteint 1,2 million de dollars.

Type d'équipement de diagnostic	2023 Volume de vente
Instruments de diagnostic clinique	$750,000
Équipement de diagnostic de recherche	$450,000

Contrats de service et de soutien en cours

Les revenus des contrats de service et de soutien pour 2023 étaient de 1,1 million de dollars.

• Contrats de maintenance annuels
• Accords de support technique
• Services d'étalonnage d'équipement

Revenu des redevances potentielles

Les revenus de redevances provenant des partenariats technologiques en 2023 s'élevaient à 250 000 $.

Partenariat technologique	Revenu de redevance
Partenariat technologique dentaire	$150,000
Licence de technologie des dispositifs médicaux	$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.