Domo signs strategic collaboration agreement with AWS for AI solutions
Milestone Scientific Inc. (NYSE:MLSS) stock has reached a 52-week high, trading at $1.28, marking a significant milestone for the company. According to InvestingPro data, the company's market capitalization now stands at $97.37 million, with the stock showing impressive momentum across multiple timeframes, including a 38.82% return over the past six months. This peak reflects a remarkable year-over-year performance, with the stock witnessing an impressive 114.64% increase in value. Investors have shown increased confidence in Milestone Scientific's prospects, driving the share price to this new high over the past year. The company maintains a healthy financial position with a current ratio of 2.85, indicating strong liquidity, though InvestingPro analysis suggests the stock is currently trading above its Fair Value. The company's innovative approach in the medical and dental industries, particularly with their computer-controlled drug delivery technologies, has contributed to their strong market position and investor optimism about future growth potential. With a gross profit margin of 72.48%, the company demonstrates strong operational efficiency. Discover 12 additional key insights and a comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Milestone Scientific Inc. has seen significant developments. The company recently reported a 22% year-over-year increase in Q3 2024 revenue, totaling $2.5 million. This growth was largely driven by a 57% surge in international dental sales. However, the firm also registered a net loss of $1.5 million for the quarter, while maintaining a robust gross profit of $1.8 million, indicating strong gross margins of 73%.
In addition, the company's board of directors experienced a change with the immediate resignation of director Mr. Giandomenico Trombetta. Citing personal reasons, Mr. Trombetta assured that his departure was not due to any disagreements with the company's operations, finances, policies, or practices. The company has not yet announced any immediate plans for a replacement on the board.
Further, Milestone Scientific's medical division has made significant progress. Its CompuFlo Epidural System has now started receiving Medicare Part B reimbursement, which is expected to boost its acceptance in pain management clinics. Additionally, the company secured regulatory approval for CompuFlo in Brazil, marking a significant expansion of its international reach. These are recent developments that continue to shape the trajectory of Milestone Scientific Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.