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Earnings Call Summary | Milestone Scientific(MLSS.US) Q4 2023 Earnings Conference

Futu News ·  Apr 2 03:07  · Conference Call

The following is a summary of the Milestone Scientific Inc. (MLSS) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Milestone Scientific reported a 12% increase in revenue for 2023, reaching $9.8 million.

  • Gross profit for the full year rose 39% to $6.8 million.

  • Dental operating income rose 90% to $2.1 million, largely attributed to optimized operations and the success of their new direct selling portal for FDA-approved dental products.

Business Progress:

  • Milestone Scientific has successfully transitioned to a direct sales strategy, contributing to improved margins and better client relationships.

  • The launch of a new portal has allowed for enhanced sales tracking, data analysis, and improved sales execution.

  • The company has expanded its customer base and plans for further growth via direct sales and increased marketing efforts.

  • Significant progress has been made in penetrating hospitals, health care systems, and pain clinics with the CompuFlo Epidural System.

  • Emphasizing on reimbursement strategy, the company is planning marketing initiatives to boost visibility and expand distribution partners for its Epidural system.

  • Anticipations are high for coverage from commercial payers and utilization of the CompuFlo Epidural system in 2024.

More details: Milestone Scientific IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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