The following is a summary of the Milestone Scientific Inc. (MLSS) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Milestone Scientific reported Q2 2024 revenues of approximately $1.9 million, a decrease from $2.9 million in Q2 2023.

• The U.S. e-commerce revenue for Q2 2024 was $1.3 million, up from $1.2 million in Q2 2023.

• Gross profit for Q2 2024 was $1.4 million, representing 76% of revenue, an improvement from 65% in Q2 2023.

• Net income for Q2 2024 was approximately $0.2 million, a positive shift from a loss of $1.3 million in Q2 2023.

Business Progress:

• Successfully secured Medicare Part B physician payment rate assignment for CompuFlo Epidural System across multiple JMAC regions, marking a significant commercial milestone.

• Launched a strategic partnership with Axial Biologics to enhance commercial penetration and adoption of the CompuFlo system in key states.

• Achieved regulatory approval in Brazil to market the CompuFlo Epidural System, enhancing global market presence.

• Focused on e-commerce platform enhancement in the Dental division to improve customer interaction and sales.

Opportunities:

• Anticipates ongoing revenue opportunities from gradual deployment of the CompuFlo epidural system under the new Medicare reimbursement plan.

• Potential expansion in the federal and other government sectors pending Federal Supply Schedule (FSS) approval.

• Growth prospects in Brazil and other Latin American markets following regulatory approval.

Risks:

• Revenue challenges due to unresolved issues with freight forwarders, impacting international sales.

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