Q2 2026 Milestone Scientific Inc Earnings Call Transcript
Key Points
- Total revenue increased 22% year-over-year in Q2 2026, with first-half revenue up nearly 10%.
- Medical segment revenue grew 231% year-over-year, driven by strong CompuFlo adoption.
- Established Medicare reimbursement under Novitas and First Coast MACs, covering 13 states and 30-35% of the U.S. population.
- Peer-reviewed study showed CompuFlo reduced composite complications by 91% in spinal cord stimulator procedures.
- New distribution agreement with Red One Medical opens access to federal healthcare markets (VA, DoD, IHS) serving over 18 million beneficiaries.
- Gross margin declined to 67.2% from 69.6% due to product mix and increased costs from tariffs and import duties.
- Q3 2026 revenue is expected to decline sequentially to $2.3-$2.5 million due to non-recurring international orders and seasonal slowdown.
- Cash position remains low at $2.1 million, with no current plans to raise capital, limiting financial flexibility.
- Medical segment growth is from a small base, and scaling is constrained by limited staff capacity.
- Federal distribution agreement with Red One Medical has no minimum commitments and is still pending FSS schedule approval, with orders not expected until Q4.
Greetings, welcome to the Milestone Scientific second quarter 2026 financial results and business update conference call. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to your host, James Carbonara with Hayden IR.
Thank you, operator. Before we begin, please note that today's call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our earnings release as well as our filings with the SEC including our 2025 Form 10-K for a discussion of these risks. A replay of this call will be available shortly after its conclusion.
With that, I'll turn the call over to our CEO, Eric Hines.
Thank you, James, and good morning,
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