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Note 8 - Segment and Geographic Data
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 8 — SEGMENT AND GEOGRAPHIC DATA

 

We conduct our business through two reportable segments: Dental and Medical. These segments offer different products and services to different customer bases. The Company provides general corporate services to its segments; however, these services are not considered when making operating decisions and assessing segment performance. These services are reported under “Corporate Services” below and these include costs associated with executive management, investor relations, patents, trademarks, licensing agreements, new instruments developments, financing activities and public company compliance.

 

The following tables present information about our reportable and operating segments:

  

For the Three Months ended June 30, 

  

For the Six Months ended June 30, 

 

Sales

                

Net Sales:

 

2023

  

2022

  

2023

  

2022

 

Dental

 $2,912,166  $1,609,768  $5,503,564  $4,303,120 

Medical

  (2,200)  38,600   4,000   46,150 

Total net sales

 $2,909,966  $1,648,368  $5,507,564  $4,349,270 
                 

Operating Income (Loss):

 

2023

  

2022

  

2023

  

2022

 

Dental

 $598,944  $163,022  $1,240,884  $517,262 

Medical

  (863,899)  (1,615,283)  (1,685,832)  (2,851,374)

Corporate

  (2,012,595)  (1,432,618)  (3,175,278)  (2,465,249)

Total operating loss

 $(2,277,550) $(2,884,879) $(3,620,226) $(4,799,361)
                 

Depreciation and Amortization:

 

2023

  

2022

  

2023

  

2022

 

Dental

 $1,219  $893  $2,388  $1,786 

Medical

  694   1,019   1,662   2,037 

Corporate

  14,768   14,733   29,852   29,637 

Total depreciation and amortization

 $16,681  $16,645  $33,902  $33,460 

 

                 

Income (loss) before taxes and equity in earnings of affiliates:

 

2023

  

2022

  

2023

  

2022

 

Dental

 $599,126  $161,774  $1,240,295  $514,571 

Medical

  (865,735)  (1,616,733)  (1,689,503)  (2,854,273)

Corporate

  (1,962,219)  (1,426,370)  (3,098,951)  (2,460,852)

Total loss before taxes and equity in earnings of affiliate

 $(2,228,828) $(2,881,329) $(3,548,159) $(4,800,554)
                 

Total Assets

 

June 30, 2023

  

December 31, 2022

         

Dental

 $4,439,751  $3,875,978         

Medical

  452,974   620,373         

Corporate

  6,258,727   9,205,735         

Total assets

 $11,151,452  $13,702,086         

 

The following table shows a breakdown of Milestone Scientific’s product sales (net), domestically and internationally, by business segment product category: 

 

  

Three Months Ended June 30, 2023

  

Three Months Ended June 30, 2022

 

Domestic: US

 

Dental

  

Medical

  

Grand Total

  

Dental

  

Medical

  

Grand Total

 

Instruments

 $271,215  $-  $271,215  $155,028  $-  $155,028 

Handpieces

  1,130,122   (2,200)  1,127,922   801,533   18,600   820,133 

Accessories

  21,443   -   21,443   22,621   -   22,621 

Grand Total

 $1,422,780  $(2,200) $1,420,580  $979,182  $18,600  $997,782 
                         

International: Rest of World

                     

Instruments

 $474,250  $-  $474,250  $160,814  $-  $160,814 

Handpieces

  732,894   -   732,894   459,799   20,000   479,799 

Accessories

  12,242   -   12,242   9,973   -   9,973 

Grand Total

 $1,219,386  $-  $1,219,386  $630,586  $20,000  $650,586 
                         

International: China 

                      

Instruments

 $270,000  $-  $270,000  $-  $-  $- 

Handpieces

  -   -   -   -   -   - 

Accessories

  -   -   -   -   -   - 

Grand Total

 $270,000  $-  $270,000  $-  $-  $- 
                         

Total Product Sales

 $2,912,166  $(2,200) $2,909,966  $1,609,768  $38,600  $1,648,368 

 

  

Six Months Ended June 30, 2023

  

Six Months Ended June 30, 2022

 

Domestic: US

 

Dental

  

Medical

  

Grand Total

  

Dental

  

Medical

  

Grand Total

 

Instruments

 $495,683  $-  $495,683  $277,996  $-  $277,996 

Handpieces

  2,269,900   -   2,269,900   1,597,392   26,150   1,623,542 

Accessories

  44,320   -   44,320   47,481   -   47,481 

Grand Total

 $2,809,903  $-  $2,809,903  $1,922,869  $26,150  $1,949,019 
                         

International: Rest of World

                        

Instruments

 $873,205  $-  $873,205  $614,374  $-  $614,374 

Handpieces

  1,522,010   4,000   1,526,010   1,383,751   20,000   1,403,751 

Accessories

  28,446   -   28,446   22,162   -   22,162 

Grand Total

 $2,423,661  $4,000  $2,427,661  $2,020,287  $20,000  $2,040,287 

International: China

                        

Instruments

 $270,000  $-  $270,000  $-  $-  $- 

Handpieces

  -   -   -   359,964   -   359,964 

Accessories

  -   -   -   -   -   - 

Grand Total

 $270,000  $-  $270,000  $359,964  $-  $359,964 
                         

Total Product Sales

 $5,503,564  $4,000  $5,507,564  $4,303,120  $46,150  $4,349,270