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Note 8 - Segment and Geographic Data
 9 Months Ended
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