The following is a summary of the Milestone Scientific Inc. (MLSS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Milestone Scientific recorded Q1 2024 revenue of $2.2 million, seeing a slight decrease compared to the same period last year due to a drop in international sales and a reserve reversal in Q1 2023.

• E-commerce sales witnessed a year-on-year growth of 31%.

• Shift to a direct sales model led to an increase in the gross margin, up to 74.5% in Q1 2024 from 72.7% the previous year.

• The Dental division earned an operating income of approximately $625,000 for Q1 2024.

• Despite the reduction in sales from $2.6 million to $2.2 million, and continued losses at $1.5 million per quarter, the company ensures sufficient liquid assets for operations.

Business Progress:

• Launched a new online sales portal, transitioning from distributor-based relationships to a direct sales model in the US.

• Established direct relationships with dental customers leading to potential recurring orders.

• Interactive digital learning platform is in the works and sales to organizations like Meridian Endo Imperial and Main Dental Group have been recorded.

• Expansion plans are in place for improvement in international markets, with new partnerships being formed.

• Significant progress in Medical segment, especially on reimbursement for CompuFlo technology.

• Ongoing negotiations with Medicare in the US, targeting the first two jurisdictions representing around 22% of all epidural steroid injections.

• Continuing relationships and negotiations to further develop and promote patented technology in Europe and the US, especially for fields like anesthesia and peripheral nerve block.

• Innovation found applications in neurosurgery, enhancing efficiency and safety of spinal cord stimulation procedures.

More details: Milestone Scientific IR

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