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

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