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Note 8 - Segment and Geographic Data | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 8 — SEGMENT AND GEOGRAPHIC DATA We conduct our business through two reportable segments: Dental and Medical. These segments offer different products and services to different customer bases. The Company provides general corporate services to its segments; however, these services are not considered when making operating decisions and assessing segment performance. These services are reported under “Corporate Services” below and these include costs associated with executive management, investor relations, patents, trademarks, licensing agreements, new instrument developments, financing activities and public company compliance. The following tables present information about our reportable and operating segments:
|  | For the Three Months ended September 30, |  |  | For the Nine Months ended September 30, |
Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales: |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Dental |  | $ | 2,053,284 |  |  | $ | 2,206,499 |  |  | $ | 7,556,848 |  |  | $ | 6,509,619 |
Medical |  |  | 6,000 |  |  |  | 9,200 |  |  |  | 10,000 |  |  |  | 55,350 |
Total net sales |  | $ | 2,059,284 |  |  | $ | 2,215,699 |  |  | $ | 7,566,848 |  |  | $ | 6,564,969 |
Operating Income (Loss): |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Dental |  | $ | 458,474 |  |  | $ | 308,913 |  |  | $ | 1,699,349 |  |  | $ | 826,175 |
Medical |  |  | (740,087 | ) |  |  | (937,468 | ) |  |  | (2,425,913 | ) |  |  | (3,788,842 | )
Corporate |  |  | (1,225,092 | ) |  |  | (1,384,940 | ) |  |  | (4,400,369 | ) |  |  | (3,850,189 | )
Total operating loss |  | $ | (1,506,705 | ) |  | $ | (2,013,495 | ) |  | $ | (5,126,933 | ) |  | $ | (6,812,856 | )
Depreciation and Amortization: |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Dental |  | $ | 1,051 |  |  | $ | 951 |  |  | $ | 3,439 |  |  | $ | 2,737 |
Medical |  |  | 585 |  |  |  | 1,019 |  |  |  | 2,247 |  |  |  | 3,056 |
Corporate |  |  | 14,260 |  |  |  | 14,691 |  |  |  | 44,112 |  |  |  | 44,328 |
Total depreciation and amortization |  | $ | 15,896 |  |  | $ | 16,661 |  |  | $ | 49,798 |  |  | $ | 50,121 |
Income (loss) before taxes and equity in earnings of affiliates: |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Dental |  | $ | 458,504 |  |  | $ | 307,699 |  |  | $ | 1,698,790 |  |  | $ | 822,270 |
Medical |  |  | (742,004 | ) |  |  | (938,963 | ) |  |  | (2,431,502 | ) |  |  | (3,793,236 | )
Corporate |  |  | (1,192,605 | ) |  |  | (1,354,219 | ) |  |  | (4,291,552 | ) |  |  | (3,815,071 | )
Total loss before taxes and equity in earnings of affiliate |  | $ | (1,476,105 | ) |  | $ | (1,985,483 | ) |  | $ | (5,024,264 | ) |  | $ | (6,786,037 | )
Total Assets |  | September 30, 2023 |  |  | December 31, 2022 |  |  |  |  |  |  |  |  |
Dental |  | $ | 5,338,522 |  |  | $ | 3,875,978 |  |  |  |  |  |  |  |  |
Medical |  |  | 498,113 |  |  |  | 620,373 |  |  |  |  |  |  |  |  |
Corporate |  |  | 4,746,923 |  |  |  | 9,205,735 |  |  |  |  |  |  |  |  |
Total assets |  | $ | 10,583,558 |  |  | $ | 13,702,086 |  |  |  |  |  |  |  |  |
The following table shows a breakdown of Milestone Scientific’s product sales (net), domestically and internationally, by business segment product category:
|  | Three Months Ended September 30, 2023 |  |  | Three Months Ended September 30, 2022 |
Domestic: US |  | Dental |  |  | Medical |  |  | Grand Total |  |  | Dental |  |  | Medical |  |  | Grand Total |
Instruments |  | $ | 230,615 |  |  | $ | - |  |  | $ | 230,615 |  |  | $ | 164,341 |  |  | $ | 7,500 |  |  | $ | 171,841 |
Handpieces |  |  | 1,007,930 |  |  |  | - |  |  |  | 1,007,930 |  |  |  | 678,473 |  |  |  | 1,700 |  |  |  | 680,173 |
Accessories |  |  | 14,822 |  |  |  | - |  |  |  | 14,822 |  |  |  | 24,304 |  |  |  | - |  |  |  | 24,304 |
Grand Total |  | $ | 1,253,367 |  |  | $ | - |  |  | $ | 1,253,367 |  |  | $ | 867,118 |  |  | $ | 9,200 |  |  | $ | 876,318 |
International: Rest of World |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments |  | $ | 88,019 |  |  | $ | - |  |  | $ | 88,019 |  |  | $ | 436,069 |  |  | $ | - |  |  | $ | 436,069 |
Handpieces |  |  | 700,697 |  |  |  | 6,000 |  |  |  | 706,697 |  |  |  | 881,616 |  |  |  | - |  |  |  | 881,616 |
Accessories |  |  | 11,201 |  |  |  | - |  |  |  | 11,201 |  |  |  | 21,696 |  |  |  | - |  |  |  | 21,696 |
Grand Total |  | $ | 799,917 |  |  | $ | 6,000 |  |  | $ | 805,917 |  |  | $ | 1,339,381 |  |  | $ | - |  |  | $ | 1,339,381 |
Total Product Sales |  | $ | 2,053,284 |  |  | $ | 6,000 |  |  | $ | 2,059,284 |  |  | $ | 2,206,499 |  |  | $ | 9,200 |  |  | $ | 2,215,699 |
|  | Nine Months Ended September 30, 2023 |  |  | Nine Months Ended September 30, 2022 |
Domestic: US |  | Dental |  |  | Medical |  |  | Grand Total |  |  | Dental |  |  | Medical |  |  | Grand Total |
Instruments |  | $ | 726,104 |  |  | $ | - |  |  | $ | 726,104 |  |  | $ | 442,336 |  |  | $ | 7,500 |  |  | $ | 449,836 |
Handpieces |  |  | 3,277,830 |  |  |  | - |  |  |  | 3,277,830 |  |  |  | 2,275,865 |  |  |  | 25,750 |  |  |  | 2,301,615 |
Accessories |  |  | 59,336 |  |  |  | - |  |  |  | 59,336 |  |  |  | 73,210 |  |  |  | 2,100 |  |  |  | 75,310 |
Grand Total |  | $ | 4,063,270 |  |  | $ | - |  |  | $ | 4,063,270 |  |  | $ | 2,791,411 |  |  | $ | 35,350 |  |  | $ | 2,826,761 |
International: Rest of World |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments |  | $ | 961,224 |  |  | $ | - |  |  | $ | 961,224 |  |  | $ | 1,050,443 |  |  | $ | - |  |  | $ | 1,050,443 |
Handpieces |  |  | 2,222,707 |  |  |  | 10,000 |  |  |  | 2,232,707 |  |  |  | 2,265,367 |  |  |  | 20,000 |  |  |  | 2,285,367 |
Accessories |  |  | 39,647 |  |  |  | - |  |  |  | 39,647 |  |  |  | 42,434 |  |  |  | - |  |  |  | 42,434 |
Grand Total |  | $ | 3,223,578 |  |  | $ | 10,000 |  |  | $ | 3,233,578 |  |  | $ | 3,358,244 |  |  | $ | 20,000 |  |  | $ | 3,378,244 |
International: China |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instruments |  | $ | 270,000 |  |  | $ | - |  |  | $ | 270,000 |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Handpieces |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 359,964 |  |  |  | - |  |  |  | 359,964 |
Accessories |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Grand Total |  | $ | 270,000 |  |  | $ | - |  |  | $ | 270,000 |  |  | $ | 359,964 |  |  | $ | - |  |  | $ | 359,964 |
Total Product Sales |  | $ | 7,556,848 |  |  | $ | 10,000 |  |  | $ | 7,566,848 |  |  | $ | 6,509,619 |  |  | $ | 55,350 |  |  | $ | 6,564,969 |

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