Milestone Scientific

Q2 FY2026 EarningsQ2 FY26 revenue of $2.84M exceeded the $2.70M consensus (+5.22%), primarily driven by a recovery in the Chinese dental market which contributed $498K in sales. However, profitability metrics missed expectations, with gross margin at 67.2% vs. 70.0% expected (-2.80pct) due to tariff pressures and product mix. The operating loss (EBIT) of -$1.06M was significantly wider than the -$0.70M consensus mean. Despite the earnings miss, cash flow management was a highlight, with H1 FY26 operating cash burn at -$0.50M, substantially better than the -$2.00M consensus, although a going concern warning remains in effect.