Note 8 - Segment and Geographic Data

9 Months Ended

Sep. 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 September 30,						For the nine months ended September 30,
Sales
Net Sales:	2024			2023			2024			2023
Dental	$	2,466,405		$	2,053,284		$	6,542,594		$	7,556,848
Medical		47,400			6,000			73,820			10,000
Total net sales	$	2,513,805		$	2,059,284		$	6,616,414		$	7,566,848
Operating Income (Loss):	2024			2023			2024			2023
Dental	$	705,427		$	458,474		$	1,524,177		$	1,699,349
Medical		(356,555	)		(740,087	)		(1,376,294	)		(2,425,913	)
Corporate		(1,818,051	)		(1,225,092	)		(4,862,553	)		(4,400,369	)
Total operating loss	$	(1,469,179	)	$	(1,506,705	)	$	(4,714,670	)	$	(5,126,933	)
Depreciation and Amortization:	2024			2023			2024			2023
Dental	$	-		$	1,051		$	-		$	3,439
Medical		-			585			-			2,247
Corporate		8,574			14,260			28,735			44,112
Total depreciation and amortization	$	8,574		$	15,896		$	28,735		$	49,798
Income (loss) before taxes and equity in earnings of affiliates:	2024			2023			2024			2023
Dental	$	705,433		$	458,504		$	1,523,209		$	1,698,790
Medical		(356,555	)		(742,004	)		(1,376,576	)		(2,431,502	)
Corporate		(1,810,049	)		(1,192,605	)		(2,824,695	)		(4,291,552	)
Total income (loss) before taxes and equity in earnings of affiliate	$	(1,461,171	)	$	(1,476,105	)	$	(2,678,062	)	$	(5,024,264	)
Total Assets	September 30, 2024			December 31, 2023
Dental	$	5,528,106		$	4,866,786
Medical		220,698			345,194
Corporate		5,426,114			6,159,532
Total assets	$	11,174,918		$	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 September 30, 2024						Three Months Ended September 30, 2023
Domestic: US	Dental		Medical		Grand Total		Dental		Medical		Grand Total
Instruments	$	179,699	$	1,000	$	180,699	$	230,615	$	-	$	230,615
Handpieces		1,029,116		11,400		1,040,516		1,007,930		-		1,007,930
Accessories		5,501		-		5,501		14,822		-		14,822
Grand Total	$	1,214,316	$	12,400	$	1,226,716	$	1,253,367	$	-	$	1,253,367
International: Rest of World
Instruments	$	261,466	$	32,500	$	293,966	$	88,019	$	-	$	88,019
Handpieces		961,089		2,500		963,589		700,697		6,000		706,697
Accessories		29,534		-		29,534		11,201		-		11,201
Grand Total	$	1,252,089	$	35,000	$	1,287,089	$	799,917	$	6,000	$	805,917
Total Product Sales	$	2,466,405	$	47,400	$	2,513,805	$	2,053,284	$	6,000	$	2,059,284

	Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023
Domestic: US	Dental		Medical		Grand Total		Dental		Medical		Grand Total
Instruments	$	588,250	$	2,000	$	590,250	$	726,104	$	-	$	726,104
Handpieces		3,245,673		35,400		3,281,073		3,277,830		-		3,277,830
Accessories		37,168		-		37,168		59,336		-		59,336
Grand Total	$	3,871,091	$	37,400	$	3,908,491	$	4,063,270	$	-	$	4,063,270
International: Rest of World
Instruments	$	668,728	$	32,500	$	701,228	$	961,224	$	-	$	961,224
Handpieces		1,965,683		3,920		1,969,603		2,222,707		10,000		2,232,707
Accessories		37,092		-		37,092		39,647		-		39,647
Grand Total	$	2,671,503	$	36,420	$	2,707,923	$	3,223,578	$	10,000	$	3,233,578
International: China
Instruments	$	-	$	-	$	-	$	270,000	$	-	$	270,000
Handpieces		-		-		-		-		-		-
Accessories		-		-		-		-		-		-
Grand Total	$	-	$	-	$	-	$	270,000	$	-	$	270,000
Total Product Sales	$	6,542,594	$	73,820	$	6,616,414	$	7,556,848	$	10,000	$	7,566,848