MLSS on NYSE

MILESTONE SCIENTIFIC INC.

American orthopedic company that raised $2.1 million in 2026 (SEC Form D).

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Last updated Oct 18, 2026.

Overview

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  • TickerMLSS on NYSE
  • IndustryOrthopedic, Prosthetic & Surgical Appliances & Supplies
  • HeadquartersDE
  • Incorporated inDE2
  • Business address220 South Orange Avenue, Livingston, Nj 070392
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

71.4%Gross margin3
-63.5%Operating margin3
-63.8%Net margin3
4.0%Revenue growth, 20253
-203.4%Return on equity3
-$2.9MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Dental brought in 49% of the revenue MILESTONE SCIENTIFIC INC. broke down this way in fiscal 2025.

  1. Dental$8.8M349%up 3% from 2024
  2. Dental$8.8M349%up 3% from 2024
  3. Medical$183.2K31%up 75% from 2024
  4. Medical$183.2K31%up 75% from 2024
Business segments by year
Business segments20242025
Dental$8.5M$8.8M
Dental$8.5M$8.8M
Medical$104.6K$183.2K
Medical$104.6K$183.2K

Regions

United States brought in 55% of the revenue MILESTONE SCIENTIFIC INC. broke down this way in fiscal 2025.

  1. United States$5.0M355%down 5% from 2024
  2. Rest of World$3.7M341%up 9% from 2024
  3. [Canada]$310.0K33%
Regions by year
Regions20242025
United States$5.3M$5.0M
Rest of World$3.4M$3.7M
[Canada]$310.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue18¢$2.6M
  • Research and development3¢$449.5K
  • Selling, general and admin79¢$11.6M

Out of $9.0M in revenue.3 The company lost money this year.

Financial statements

Revenue456783$9.0M in 2025+7% since 2019
0$5.0M$10.0M$15.0M2019: $8.4M$8.4M20192020: $5.4M$5.4M2020−35%2021: $10.3M$10.3M2021+90%2022: $8.8M$8.8M2022−15%2023: $9.8M$9.8M2023+12%2024: $8.6M$8.6M2024−12%2025: $9.0M$9.0M2025+4%
Gross profit456783$6.4M in 2025+12% since 2019
0$2.0M$4.0M$6.0M$8.0M2019: $5.7M$5.7M20192020: $3.6M$3.6M2020−37%2021: $6.3M$6.3M2021+74%2022: $4.9M$4.9M2022−22%2023: $6.8M$6.8M2023+39%2024: $6.4M$6.4M2024−5%2025: $6.4M$6.4M2025−0%
Operating income456783-$5.7M in 2025+42% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$4.0M-$4.0M20192020: -$7.5M-$7.5M2020+86%2021: -$7.4M-$7.4M2021−1%2022: -$8.8M-$8.8M2022+20%2023: -$7.1M-$7.1M2023−19%2024: -$6.8M-$6.8M2024−5%2025: -$5.7M-$5.7M2025−16%
Net income456783-$5.7M in 2025−24% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$7.5M-$7.5M20192020: -$7.3M-$7.3M2020−2%2021: -$6.8M-$6.8M2021−7%2022: -$8.7M-$8.7M2022+28%2023: -$6.9M-$6.9M2023−20%2024: -$4.7M-$4.7M2024−32%2025: -$5.7M-$5.7M2025+21%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-12-312024-12-31
Product sales, net$9.0M$8.6M
Cost of products sold$2.6M$2.2M
Gross profit$6.4M$6.4M
Selling, general and administrative expenses$11.6M$12.3M
Research and development expenses$449.5K$858.8K
Depreciation and amortization expense$78.2K$37.4K
Total operating expenses$12.1M$13.2M
Loss from operations-$5.7M-$6.8M
Interest (expense) income, net-$25.6K$60.3K
Gain on sale of net operating losses$2.0M
Loss before provision for income taxes-$5.7M-$4.7M
Net loss-$5.7M-$4.7M
Net loss per share applicable to common stockholders - basic-$0.07-$0.06
Net loss per share applicable to common stockholders - diluted-$0.07-$0.06
Weighted average shares outstanding and to be issued - basic82.1M shares79.8M shares
Weighted average shares outstanding and to be issued - diluted82.1M shares79.8M shares

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Leadership

Who has led MILESTONE SCIENTIFIC INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Joe W. Martin2007–2009
  2. Leonard Osser2010–2021
  3. Daniel S. Goldberger2017

President

  1. Thomas Ronca2007
  2. Steven F. Robins2015
  3. Daniel S. Goldberger2017
  4. Brent W. Johnston2019–2020
  5. Jan Adriaan Haverhals2021–2023
  6. Peter J. Milligan2023

Chief financial officer

  1. David Cohn2007
  2. Arthur L. Goldberg2007–2008
  3. Joseph D'Agostino2008–2021
  4. Scott L. Kahn2021

Chief operating officer

  1. Thomas Ronca2007
  2. Joseph D'Agostino2011–2021
2010201520202025
Board members and other officers (17)

Former names

  • MILESTONE SCIENTIFIC INC/NJNov 7, 1997 to Dec 17, 20092
  • U S OPPORTUNITY SEARCH INCNov 14, 1996 to Mar 14, 19972

Timeline

  1. Jul 12, 2017New chief executive Daniel S. Goldberger becomes CEO11
  2. Feb 3, 2010New chief executive Leonard Osser becomes CEO12
  3. Jun 11, 2007New chief executive Joe W. Martin becomes CEO13

Filings

178 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 36 major events, 90 insider forms, 1 large holders, 1 private raises, 29 other. The latest 20:

  1. Sep 28, 2026EFFECT EDGAR
  2. Sep 18, 2026S-3/A EDGAR
  3. Sep 8, 2026S-8 EDGAR
  4. Sep 8, 2026S-3 EDGAR
  5. Aug 13, 202610-Q EDGAR
  6. Jul 31, 20268-K EDGAR
  7. Jul 29, 20268-K EDGAR
  8. Jun 25, 20268-K EDGAR
  9. Jun 22, 2026DEF 14A EDGAR
  10. Jun 10, 2026PRER14A EDGAR
  11. Jun 9, 2026EFFECT EDGAR
  12. Jun 9, 2026424B1 EDGAR
  13. Jun 8, 2026CORRESP EDGAR
  14. Jun 8, 2026UPLOAD EDGAR
  15. Jun 5, 2026PRE 14A EDGAR
  16. Jun 2, 2026S-3 EDGAR
  17. May 13, 202610-Q EDGAR
  18. May 6, 20268-K EDGAR
  19. May 6, 20268-K EDGAR
  20. May 5, 202610-K/A EDGAR

The 178 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 1 such filings since October 2021:

  1. Feb 7, 2025SCHEDULE 13D/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 20, 2026Raised $2.1 million in a private offering of equity Form D: $4.8 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 29. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC2,073,166$665.5K0.0%+86,518
Geode Capital Management, LLC643,611$206.7K0.0%+26,966
Vanguard Fiduciary Trust Co464,449$149.1K0.0%+142,866
State Street Corp264,885$85.0K0.0%+125,000
NFSG Corp141,000$45.3K0.0%+100,000
Northern Trust Corp133,067$42.7K0.0%+20,452
LPL Financial LLC124,945$40.1K0.0%No change
Mariner, LLC121,750$39.1K0.0%No change
Carnegie Investment Counsel100,175$32.2K0.0%No change
Bridgeway Capital Management, LLC99,500$31.9K0.0%No change
World Investment Advisors104,000$30.0K0.0%No change
BlackRock, Inc.65,453$21.0K0.0%No change
Renaissance Technologies LLC56,297$18.1K0.0%−26,200
Commonwealth Equity Services, LLC44,782$14.4K0.0%No change
Sequoia Financial Advisors, LLC43,422$13.9K0.0%No change
Kestra Advisory Services, LLC41,100$13.2K0.0%No change
XTX Topco Ltd34,843$11.2K0.0%−10,516
Cetera Investment Advisers17,150$5.5K0.0%No change
HighTower Advisors, LLC15,666$5.0K0.0%No change
Radnor Capital Management, LLC15,000$4.8K0.0%No change
Vanguard Global Advisers, LLC14,867$4.8K0.0%No change
Daniel Investment Group, Inc.13,076$4.2K0.0%New
Oppenheimer & Co Inc10,000$3.2K0.0%No change
Dock Street Asset Management Inc10,000$3.2K0.0%No change
UBS Group AG8,590$2.8K0.0%−53,910

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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