Start here if you're new
what it is
It sells computer-guided injection devices for dental, medical, cosmetic, and veterinary use.
how it gets paid
Last year Milestone Scien made $60K in revenue. The Wand dental systems was the main engine at $24K, or 40% of sales.
what just happened
Milestone reported $5K in quarterly revenue, and gross margin was n/a.
At a glance
C++ balance sheet — some cracks in the foundation
60/100 earnings predictability — reasonably predictable
-$0.08 fy2024 eps est
$2B fy2026 rev est
n/a operating margin
xvary composite: 33/100 — weak
What they do
It sells computer-guided injection devices for dental, medical, cosmetic, and veterinary use.
Milestone's edge is paperwork, not scale. FDA and CE clearances mean approved sales in 60 countries. Your problem is the math: 17 employees backed just $60K in annual revenue.
How they make money
$60K
annual revenue
The Wand dental systems
$24K
CompuFlo drug delivery
$15K
DPS sensing platform
$12K
Other medical and specialty uses
$9K
The products that matter
dental injection platform
STA Single Tooth Anesthesia System
$6.7M dental segment revenue
the dental segment generated $6.7M of the company's $8.93M trailing revenue. If you are looking for the part of the business that already sells, this is it.
75% of revenue
epidural guidance system
CompuFlo Epidural System
$2.23M medical segment revenue
the medical segment contributed $2.23M. It's the smaller piece today, which means it needs to grow for the story to stop looking like a one-product company.
smaller second engine
recurring-use accessory
Disposable handpieces
71% gross margin context
the appeal here is repeat usage, but this snapshot does not show a clean revenue figure for disposables. That is the issue: recurring revenue only changes the stock once it becomes visible in the numbers.
thin disclosure
Key numbers
$60K
annual revenue
That is the full-year top line. A company with this little sales cannot afford much drift.
$23M
market cap
That is what the market pays for a business that sold $60K. The gap is the whole story.
$1M
long-term debt
Debt is small in dollar terms, but it is large next to $60K in revenue.
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. Operating margin is profit after running the business. This says the business lost far more than it made.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $1M (4% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for MLSS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Milestone reported $5K in quarterly revenue, and gross margin was n/a.
Revenue grew 215% vs. prior year, but $5K is still tiny. EPS was -$0.06, worse than the prior year's -$0.02.
$5K
revenue
-$0.06
eps
n/a
gross margin
the number that mattered
$5K mattered because it is still a rounding error against a $23M market cap.
source: company earnings report, 2026
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What could go wrong
the biggest risk here is not competition in the abstract. it is subscale commercialization with very little financial slack.
med
chronic operating losses
A -74.7% profit margin on $8.93M revenue means the company is still losing money at a rate the business cannot comfortably carry. The gross margin is real. The income statement below it is the problem.
If revenue stays near the current $8.93M run rate, losses keep mattering more than product promise.
med
dental concentration through one channel
The flagship dental business relies on a single strategic partner, Keystone Dental Group, for distribution. When 75% of revenue comes from dental devices, channel concentration is not a side note.
Any disruption there would hit the part of the company that currently pays most of the bills.
med
turnaround timing vs. cash
Management is trying to cut costs under a new CEO while operating with $1.35M in cash and 17 employees. That is enough for urgency, not enough for many mistakes.
A company this small can improve fast, but it can also run out of room before the improvement shows up.
A business doing $8.93M in revenue with $1.35M in cash does not have a wide margin for error. If losses stay deep while the dental channel wobbles, the stock can reprice fast.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next earnings update
The next report needs to show whether the 20% cost-cut plan is changing the shape of the income statement or just buying time. Last full review: updated feb 6, 2026.
trend
medical devices becoming more than a side business
Medical devices are $2.23M against $6.7M for dental. If that gap starts closing, the story gets less fragile. If it does not, the second engine remains a slide-deck concept.
risk
cash vs. losses
$1.35M in cash is not a lot for a company with a -74.7% profit margin. Watch the balance sheet before you watch the chart.
metric
gross margin holding near 71%
If gross margin breaks while the company is still unprofitable, the entire "fix the cost base" thesis gets weaker. That is the metric that tells you whether the product economics still deserve patience.
Analyst rankings
short-term outlook
mixed
analyst target data is thin here. in human-speak: nobody has a clean consensus, so the business matters more than the brokerage notes.
risk profile
volatile
a $23M small-cap healthcare stock with price stability of 5/100 is not built for smooth moves.
chart momentum
catalyst-driven
this name trades more on execution updates and commercial traction than on steady trend-following.
earnings predictability
60/100
the business is still changing shape, so quarterly numbers can say more about progress than about stability.
source: institutional data
Institutional activity
institutional ownership data for MLSS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$0
current price
n/a
target midpoint · n/a from current
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