Milestone Scientific Cuts Q1 Operating Loss to $828K as Medical Sales Double
Milestone Scientific cut operating expenses by over 30% in Q1 2026, narrowing its operating loss to $828,000 on stable $2.16 million revenues and doubling medical segment sales year-over-year. The company raised $2.15 million in April and reaffirmed guidance for $9.8–$10.2 million full-year revenue, targeting cash-flow breakeven in early 2027.
1. Q1 Financial Results
Total revenue held at $2.16 million for the quarter ended March 31, 2026 versus $2.23 million a year earlier, with gross profit of $1.56 million and a 72.3% margin. Operating loss narrowed to $828,000 from $2.0 million, while net loss improved to $840,000, or $0.01 per share, compared to $2.0 million, or $0.02 per share, in Q1 2025, driven in part by medical segment revenues more than doubling year-over-year.
2. Expense Reduction and Outlook
Cost-cutting initiatives reduced operating expenses by over 30%, offsetting lower gross profit and tariff pressures. Management reaffirmed 2026 revenue guidance of $9.8–$10.2 million, expects improved operating leverage from structural cost savings, and targets cash-flow breakeven in early 2027.
3. Balance Sheet Strength and Financing
As of March 31, the company held $1.2 million in cash, $2.5 million in working capital and $800,000 in convertible debt. On April 20, it completed a private placement of 7,962,963 units at $0.27 each, generating $2.15 million in gross proceeds and reducing $351,000 of convertible note principal.