Milestone Scientific Inc. (NYSE American: MLSS) is back on traders’ radar today after a sharp after‑hours spike, strong pre‑market performance and fresh Q3 2025 numbers that show progress on costs but lingering listing‑compliance and funding risks.
Key headlines on Milestone Scientific today
As of Friday, 14 November 2025, these are the main developments around Milestone Scientific:
- Q3 2025 results filed and discussed on an earnings call: Revenue held roughly flat at about $2.36 million with gross margin of 70%, while operating expenses fell by more than $500,000 year over year and operating loss improved about 23% to roughly $1.1 million. [1]
- Earnings beat vs. consensus: Several data providers report EPS of –$0.01 vs. –$0.02 expected and revenue of $2.36 million vs. $2.21 million consensus, prompting headlines that Milestone “beat” on both lines. [2]
- Stock volatility explodes:
- After hours Thursday (13 Nov): MLSS jumped about 36% to $0.52 after the Q3 release. [3]
- Pre‑market Friday: MLSS appeared on RTTNews’ “Pre Market Movers” list, up around 20% at $0.46. [4]
- Intraday today: Around 15:28 UTC, the stock is trading near $0.37, with an intraday range roughly $0.37–$0.54 and very heavy volume over 17 million shares. [5]
- Fresh media coverage and transcripts: Investing.com and MarketScreener published Q3 2025 earnings call transcripts and summaries this morning, highlighting the earnings beat, cost cuts and focus on STA dental systems and the CompuFlo medical platform. [6]
- Board change (filed yesterday, still in focus): A recent SEC filing shows long‑time executive Leonard A. Osser has resigned from the board, effective 7 November 2025, though he remains involved via an employment agreement and a consulting agreement with U.S. Asian Consulting Group. [7]
- Listing‑compliance overhang: In an October press release, Milestone disclosed an NYSE American notice of non‑compliance because stockholders’ equity was about $3.3 million as of 30 June 2025 and the company has reported losses in each of the last five fiscal years. The company must submit a compliance plan (by 7 November 2025) and regain compliance by 8 April 2027, but the stock continues to trade normally. [8]
MLSS stock today: big moves, tiny price
According to real‑time quote data, Milestone Scientific shares are changing hands around $0.37 this afternoon, down slightly on the day but still well above where they traded before the earnings release. Intraday, the stock has:
- Opened around $0.44
- Traded as high as about $0.54
- Dropped to an intraday low near $0.36
- Seen volume north of 17 million shares, enormous for a micro‑cap of roughly $30 million in market value. [9]
Recent performance context from various data providers:
- Last 3 months: roughly –42%
- Last 12 months: roughly –44%
- Year‑to‑date 2025: one Investing.com dataset pegs the decline at about –63% despite today’s bounce. [10]
So even after the post‑earnings spike, MLSS is still trading at penny‑stock levels and well below its 52‑week high (around $1.39, per Benzinga). [11]
Inside Milestone Scientific’s Q3 2025 results
Top line: stable revenue in a tough year
For the three months ended 30 September 2025, Milestone reported:
- Revenue: about $2.36 million, down slightly from $2.51 million in Q3 2024
- Gross profit: ~$1.64 million
- Gross margin:70%, vs 73% a year earlier [12]
Management attributes the small revenue decline mainly to weaker domestic dental sales, partially offset by:
- Stronger international dental demand
- Higher recurring revenue in the medical segment, largely from CompuFlo® disposables [13]
For the first nine months of 2025:
- Revenue: ~$6.9 million, up about 5% vs. $6.6 million in the same period of 2024
- Growth is again driven by international dental and medical recurring revenue. [14]
Bottom line: losses narrow, but cash remains tight
On profitability, Q3 shows clear progress but not a turnaround yet:
- Operating loss: improved to roughly $1.13 million, from $1.47 million in Q3 2024 – an improvement of about 23%
- Net loss: about $1.15–1.2 million, or –$0.01 per share, vs –$0.02 per share a year ago [15]
The improvement is largely due to cost‑cutting:
- Operating expenses fell by more than $500,000 compared with the prior‑year quarter, thanks to restructuring and tighter spending. [16]
From a balance‑sheet perspective:
- Cash & cash equivalents: about $1.3 million
- Working capital: roughly $3.1 million as of 30 September 2025 [17]
For a company still generating multi‑million‑dollar annual losses, that is not a lot of cash cushion, which is one reason the NYSE American compliance notice and any future capital‑raising plans matter so much.
Why analysts call it an “earnings beat”
Several outlets highlight today that Milestone outperformed expectations:
- EPS: –$0.01 vs. –$0.02 consensus
- Revenue: $2.36 million vs. $2.21 million expected [18]
That modest beat – essentially a one‑cent improvement in per‑share loss and a small revenue upside – was enough to spark:
- A 36% after‑hours spike on Thursday night
- A 20% pre‑market jump this morning, per RTTNews’ biotech movers list [19]
For a thinly traded micro‑cap with a heavy short‑term focus from traders, even a small positive surprise on expectations can trigger outsized price swings.
Transformation plan: dental and medical engines
Milestone’s business still revolves around two main technology platforms:
- Dental:
- The Wand® and the STA® Single Tooth Anesthesia (STA) System, computer‑controlled injection devices that aim to make dental anesthesia more precise and less painful. [20]
- Medical:
- CompuFlo® Epidural System and associated disposables, which use Dynamic Pressure Sensing (DPS) Technology® to give real‑time feedback while placing epidural needles. [21]
In the Q3 release and today’s commentary, CEO Eric Hines and the team stress several strategic themes: [22]
- Lean, focused operations – organizational restructuring and reduced SG&A are intended to keep burn rate in check.
- Dental growth lever – more direct sales in North America, more international registrations for the STA system and a heavier digital‑marketing push for recurring e‑commerce sales.
- Medical growth lever – increasing utilization of CompuFlo in pain‑management and hospital settings, with recurring revenue from disposables.
- Reimbursement build‑out – progress on Medicare payment rates and expanding commercial coverage should, in theory, make it easier for clinics and hospitals to adopt CompuFlo and get paid for using it.
Quartr’s AI summary of Milestone’s latest SEC 8‑K sums up the quarter as one of stable revenue, lower expenses and improved margins, framed as part of an ongoing “operational transformation” aimed at long‑term value creation. [23]
Governance shift: Osser steps off the board
Corporate governance is also in motion.
According to a recent SEC filing summarized by Investing.com, Leonard A. Osser – a long‑time figure at Milestone – resigned from the company’s board of directors, effective 7 November 2025. [24]
Key points from that filing: [25]
- Osser’s departure is framed as occurring because he believed it was an “appropriate time” to step down.
- He remains involved with Milestone under his existing employment agreement and through a consulting agreement with U.S. Asian Consulting Group, LLC, so this is not a clean break.
- The article also notes that the company is a roughly $30 million micro‑cap and continues to post negative EBITDA (around –$6.9 million).
This follows a string of leadership changes in 2025, including:
- Appointment of Eric C. Hines as CEO (August 2025)
- Appointment of Jason Papes as Senior VP and Global Head of Sales & Marketing
- Addition of Dr. Dawood Sayed to the board to bolster clinical and commercial expertise in pain management [26]
Taken together, the management and board moves suggest an effort to reset the company’s go‑to‑market execution and strengthen pain‑management expertise at the top.
NYSE American compliance: a looming deadline, but time to fix it
The most structurally important overhang remains the NYSE American listing notice.
In an October Globenewswire release (widely syndicated and summarized by platforms such as StockTitan and Barchart), Milestone disclosed that: [27]
- It received a notice from NYSE American on 8 October 2025 stating that it is not in compliance with Sections 1003(a)(ii) and 1003(a)(iii) of the exchange’s Company Guide.
- The non‑compliance stems from:
- Stockholders’ equity of about $3.3 million as of 30 June 2025
- Reported losses in each of the five most recent fiscal years through 31 December 2024
- Milestone must submit a written plan explaining how it will regain compliance.
- The summary indicates a plan deadline of 7 November 2025 and an allowed cure period running to 8 April 2027.
- Crucially, MLSS continues to trade on NYSE American, and the notice does not immediately affect day‑to‑day operations or SEC reporting.
On today’s earnings call and in recent commentary, management’s message has essentially been: if they can keep expanding revenue, protect high gross margins and sustain lower operating expenses, they believe they can eventually meet the equity thresholds and stay listed. That said, investors should be aware that failure to execute that plan could ultimately lead to a delisting or transfer to an OTC market.
How today’s action fits the bigger picture
Stepping back from the minute‑by‑minute tape, here’s how the 14 November 2025 newsflow fits into Milestone’s story:
- Fundamentals:
- Revenue is flat to slightly up vs. 2024 on a year‑to‑date basis.
- Margins remain strong in the 70% range.
- The company is still loss‑making and burning cash, but Q3 shows clear cost‑cut progress. [28]
- Balance sheet & listing status:
- Cash is thin (~$1.3 million) and stockholders’ equity is barely above $3 million, at least as of mid‑2025, which is why the NYSE American notice arrived. [29]
- Execution & strategy:
- The company is betting on wider adoption of CompuFlo in pain management and broader international uptake of its dental STA system. Recent press releases show continued commercial momentum – new clinics, new reimbursement codes and expanded leadership – but from a small base. [30]
- Market perception:
- Media coverage today consistently frames MLSS as a high‑risk micro‑cap: big percentage moves, small absolute price, and deep drawdowns over the past year, even after the earnings‑driven bounce. [31]
For traders, the story right now is volatility; for longer‑term investors, it’s about whether cost discipline + niche technologies + new leadership can outweigh the capital‑structure and listing risks.
What to watch next
If you’re following Milestone Scientific over the coming weeks and months, key things to track include:
- Follow‑through after Q3
- Does revenue re‑accelerate in Q4 2025, or does it remain flat?
- Can the company hold or further reduce operating expenses without hurting growth?
- Cash and funding decisions
- Any equity raise, debt facility or strategic partnership that brings in capital will matter, given the $1.3 million cash balance and continuing losses. [32]
- NYSE American’s response to the compliance plan
- Investors should look for future updates on whether the exchange accepts Milestone’s plan and what milestones the company must hit to avoid tighter listing scrutiny.
- Adoption metrics for CompuFlo and dental systems
- New clinic wins, reimbursement milestones, and growth in recurring disposables revenue are crucial proof points that the transformation strategy is working. [33]
- Further board or management changes
- After Osser’s resignation and the 2025 leadership reshuffle, any additional changes could signal either strengthening of the team or ongoing instability, depending on the context. [34]
Bottom line
On 14 November 2025, Milestone Scientific is hot news again:
- Fundamentals: slightly better than feared
- Strategy: clearer and more cost‑disciplined than a year ago
- Stock: ultra‑volatile, still deeply depressed vs. its highs
- Risks: listing compliance, limited cash, and ongoing operating losses
Nothing in today’s numbers resolves those risks — but they do give management a stronger story to tell both investors and the NYSE American as they work through their compliance plan.
As always, this overview is for information only, not investment advice. Anyone considering MLSS should review the latest 10‑Q, 8‑K and risk factors and consider their own risk tolerance before making decisions.
References
1. www.globenewswire.com, 2. m.in.investing.com, 3. www.benzinga.com, 4. www.rttnews.com, 5. stockanalysis.com, 6. www.investing.com, 7. www.investing.com, 8. www.stocktitan.net, 9. de.investing.com, 10. m.in.investing.com, 11. www.benzinga.com, 12. www.globenewswire.com, 13. www.globenewswire.com, 14. www.globenewswire.com, 15. www.globenewswire.com, 16. www.globenewswire.com, 17. www.globenewswire.com, 18. m.in.investing.com, 19. www.benzinga.com, 20. stockanalysis.com, 21. www.globenewswire.com, 22. www.globenewswire.com, 23. www.tradingview.com, 24. www.investing.com, 25. www.investing.com, 26. stockanalysis.com, 27. www.stocktitan.net, 28. www.globenewswire.com, 29. www.globenewswire.com, 30. stockanalysis.com, 31. www.benzinga.com, 32. www.globenewswire.com, 33. www.globenewswire.com, 34. www.investing.com
