Milestone Scientific reports Q2 revenue up 22% to $2.8 million

Milestone Scientific (AMEX: MLSS ) released second-quarter financial results and hosted an earnings call on Friday.

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View the webcast at Summary Milestone Scientific reported a 22% revenue increase for Q2 2026, reaching $2.8 million, driven by growth in both dental and medical segments.

CompuFlo's medical segment revenue grew by 231% year-over-year, with significant support from Medicare reimbursements and an expanding advisor program.

A strategic distribution agreement with Red One Medical aims to bring CompuFlo to major federal healthcare organizations, expanding its market reach.

Milestone Scientific achieved a significant third-party validation with a study showing a 91% reduction in complications using CompuFlo, enhancing its value proposition.

The company launched an AI-enabled digital engagement platform, Milo, to enhance customer interactions and support sales efforts.

Despite positive progress, the company expects a sequential revenue decline in Q3 due to non-recurring international orders and typical seasonal slowdowns.

Operating expenses decreased by 4.2%, and the company reaffirmed its 2026 revenue guidance of $9.8 million to $10.2 million, anticipating continued growth in the medical segment.

Management emphasized a strategic, methodical approach to market expansion and highlighted improvements in organizational structure and focus.

Full Transcript OPERATOR Greetings.

Welcome to the Milestone Scientific Second Quarter 2026 Financial Results and Business Update Conference Call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press star zero on your telephone keypad.

Please note this conference is being recorded.

I will now turn the conference over to your host, James Carbonara with Hayden IR.

James Carbonara, Investor Relations (Hayden IR) Thank you, operator.

Before we begin, please note that today's call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

Please refer to our earnings release as well as our filings with the SEC, including our 2025 Form 10-K, for a discussion of these risks.

A replay of this call will be available shortly after its conclusion.

With that, I'll turn the call over to our CEO, Eric Hines.

Eric Hines, CEO Thank you, James, and good morning, everybody, and thank you for joining our call today.

Our second quarter results reflect continued execution of the strategy we laid out at the start of the year, disciplined cost management, and focused investment in our highest growth opportunities.

Total revenue for the second quarter was 2.8 million, an increase of 22% compared to the second quarter of 2025, bringing our first half revenue to 5 million, up nearly 10% year over year.

Our base business performed very well, contributing 2.4 million in the quarter, further supported by approximately $500,000 in upside from international orders.

In the medical business, CompuFlo continued to build momentum, with medical segment revenue growing 231% compared to the second quarter of last year.

While medical is still growing from a small base, there is real validation of the technology's value proposition, and we continue to scale the CompuFlo Advisor program launched in February, adding physician advisors and expanding procedural use across additional Medicare Administrative Contractor jurisdictions and commercial payers.

On the reimbursement front, our healthcare providers are actively submitting claims and have received favorable payment outcomes from Medicare in the Novitas and First Coast jurisdictions, as well as from commercial payers, which includes personal injury protection and workers' compensation plans.

We currently have established $325 payments under Novitas and First Coast fee schedules covering three regions and 13 states, and we're continuing to pursue the remaining MACs alongside our three distribution partners in these areas.

We plan to begin launching direct sales efforts in each region starting immediately.

We also achieved an important milestone—third-party validation this quarter—following the publication of a peer-reviewed University of Texas Medical Branch study in Operative Neurosurgery, which associated CompuFlo-guided epidural access during spinal cord stimulator implantation with a 91% reduction in the odds of composite complications.

The compelling evidence reinforces CompuFlo's differentiated value proposition and supports growing physician acceptance and expanded utilization across critical spinal and epidural procedures, including epidural steroid injections, spinal cord stimulator implantation, obstetric epidurals, thoracic and cervical epidurals, neuromodulation therapies, and surgical epidural anesthesia.