Note 8 - Segment and Geographic Data

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 8 — SEGMENT AND GEOGRAPHIC DATA

The Company conducts its 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:	2024			2023			2024			2023
Dental	$	1,834,764		$	2,912,166		$	4,076,189		$	5,503,564
Medical		19,000			(2,200	)		26,420			4,000
Total net sales	$	1,853,764		$	2,909,966		$	4,102,609		$	5,507,564
Operating Income (Loss):	2024			2023			2024			2023
Dental	$	193,243		$	598,944		$	818,750		$	1,240,884
Medical		(528,315	)		(863,899	)		(1,019,740	)		(1,685,832	)
Corporate		(1,445,351	)		(2,012,595	)		(3,044,501	)		(3,175,278	)
Total operating loss	$	(1,780,423	)	$	(2,277,550	)	$	(3,245,491	)	$	(3,620,226	)
Depreciation and Amortization:	2024			2023			2024			2023
Dental	$	-		$	1,219		$	-		$	2,388
Medical		-			694			-			1,662
Corporate		8,477			14,768			20,161			29,852
Total depreciation and amortization	$	8,477		$	16,681		$	20,161		$	33,902
Income (loss) before taxes and equity in earnings of affiliates:	2024			2023			2024			2023
Dental	$	193,266		$	599,126		$	817,776		$	1,240,295
Medical		(528,091	)		(865,735	)		(1,020,022	)		(1,689,503	)
Corporate		558,463			(1,962,219	)		(1,014,645	)		(3,098,951	)
Total income (loss) before taxes and equity in earnings of affiliate	$	223,638		$	(2,228,828	)	$	(1,216,891	)	$	(3,548,159	)
Total Assets	June 30, 2024			December 31, 2023
Dental	$	5,132,387		$	4,866,786
Medical		451,680			345,194
Corporate		6,421,173			6,159,532
Total assets	$	12,005,240		$	11,371,512

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, 2024						Three Months Ended June 30, 2023
Domestic: US	Dental		Medical		Grand Total		Dental		Medical			Grand Total
Instruments	$	194,676	$	1,000	$	195,676	$	271,215	$	-		$	271,215
Handpieces		1,136,124		18,000		1,154,124		1,130,122		(2,200	)		1,127,922
Accessories		14,977		-		14,977		21,443		-			21,443
Grand Total	$	1,345,777	$	19,000	$	1,364,777	$	1,422,780	$	(2,200	)	$	1,420,580
International: Rest of World
Instruments	$	125,176	$	-	$	125,176	$	474,250	$	-		$	474,250
Handpieces		357,645		-		357,645		732,894		-			732,894
Accessories		6,166		-		6,166		12,242		-			12,242
Grand Total	$	488,987	$	-	$	488,987	$	1,219,386	$	-		$	1,219,386
International: China
Instruments	$	-	$	-	$	-	$	270,000	$	-		$	270,000
Handpieces		-		-		-		-		-			-
Accessories		-		-		-		-		-			-
Grand Total	$	-	$	-	$	-	$	270,000	$	-		$	270,000
Total Product Sales	$	1,834,764	$	19,000	$	1,853,764	$	2,912,166	$	(2,200	)	$	2,909,966

	Six Months Ended June 30, 2024						Six Months Ended June 30, 2023
Domestic: US	Dental		Medical		Grand Total		Dental		Medical		Grand Total
Instruments	$	408,551	$	1,000	$	409,551	$	495,683	$	-	$	495,683
Handpieces		2,216,557		25,420		2,241,977		2,269,900		-		2,269,900
Accessories		31,667		-		31,667		44,320		-		44,320
Grand Total	$	2,656,775	$	26,420	$	2,683,195	$	2,809,903	$	-	$	2,809,903
International: Rest of World
Instruments	$	407,262	$	-	$	407,262	$	873,205	$	-	$	873,205
Handpieces		1,004,594		-		1,004,594		1,522,010		4,000		1,526,010
Accessories		7,558		-		7,558		28,446		-		28,446
Grand Total	$	1,419,414	$	-	$	1,419,414	$	2,423,661	$	4,000	$	2,427,661
International: China
Instruments	$	-	$	-	$	-	$	270,000	$	-	$	270,000
Handpieces		-		-		-		-		-		-
Accessories		-		-		-		-		-		-
Grand Total	$	-	$	-	$	-	$	270,000	$	-	$	270,000
Total Product Sales	$	4,076,189	$	26,420	$	4,102,609	$	5,503,564	$	4,000	$	5,507,564