Milestone Scientific Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting a net loss and year-over-year improvement in total operating expenses.

Key Highlights

  • Q3 2026 net loss: $747,545, compared to a net loss of $1,153,959 in Q3 2025, according to the filing.
  • Nine-month net loss: $2,467,985 for the nine months ended September 30, 2026, versus $4,631,655 for the same period in 2025.
  • Q3 product sales: $2,219,747 for the three months ended September 30, 2026, down from $2,360,117 in the prior-year quarter.
  • Total operating expenses: $7,536,913 for the nine months ended September 30, 2026, compared to $9,522,866 for the nine months ended September 30, 2025.
  • Total assets: $6,942,744 as of September 30, 2026, compared to $7,806,429 as of December 31, 2025.
  • Shares outstanding: 90,611,070 shares of common stock as of November 13, 2026, up from 80,453,116 as of December 31, 2025.
  • Accumulated deficit: $136,047,655 as of September 30, 2026, compared to $133,579,668 as of December 31, 2025.

Milestone Scientific's Q3 2026 Financial Results and Balance Sheet Position

Milestone Scientific Inc. (NYSE American:MLSS), a Delaware corporation headquartered in Roseland, NJ, reported a net loss of $747,545 for the three months ended September 30, 2026, according to its quarterly filing. This compares to a net loss of $1,153,959 for the same quarter in 2025. For the nine-month period, the net loss was $2,467,985, narrowing from $4,631,655 in the prior-year period. Net loss per share on a basic and diluted basis was $(0.01) for Q3 2026 and $(0.03) for the nine months ended September 30, 2026, the filing disclosed.

Product sales, net, were $2,219,747 for the three months ended September 30, 2026, against $2,360,117 in Q3 2025. For the nine-month period, product sales were $7,222,818, up from $6,916,003 in the year-earlier period. Selling, general and administrative expenses declined to $2,321,312 in Q3 2026 from $2,739,011 in Q3 2025, and fell to $7,460,752 from $9,026,691 on a nine-month basis, the company disclosed. Research and development expenses for the nine months were $17,022, compared to $437,135 in the same period of 2025.

As of September 30, 2026, total stockholders' equity was $3,656,399, up from $3,008,277 at December 31, 2025, the filing stated. The company had cash and cash equivalents of $1,315,401 at September 30, 2026, compared to $1,112,642 at December 31, 2025. During the period, the company issued shares in private offerings and converted notes payable, with the convertible notes payable to related parties reduced from $800,000 at December 31, 2025 to zero at September 30, 2026, according to the balance sheet. The authorized share count was increased to 135,000,000 shares from 125,000,000 shares, as reflected in the filing.

What Was Disclosed

Milestone Scientific filed its unaudited quarterly report covering the period ended September 30, 2026, disclosing a narrowed net loss year-over-year, reduced operating expenses, elimination of related-party convertible notes, and an increased share count resulting from private offerings and note conversions.