Milestone Scientific Inc. (NYSE:MLSS) shares surged 35.67% in after-hours trading on Thursday, rising to $0.52. The medical device firm reported its third-quarter results showing lower costs and improved losses.

Check out the current price of MLSS stock here.

The stock closed 6.03% higher at $0.38 on Thursday, according to Benzinga Pro data.

Cost Reduction Drives Improved Margins

The New Jersey-based biomedical technology firm reduced its operating expenses by more than $500,000 in the third quarter compared with the same period last year, the company said in its earnings release.

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The company's operating loss fell 23% to about $1.1 million, down from $1.5 million a year earlier. Net loss also narrowed to $1.2 million, or $0.01 per share, compared with $1.5 million, or $0.02 per share, in the third quarter of 2024.

Revenue Performance Mixed

Third-quarter revenue came in at about $2.4 million, edging down from $2.5 million in the same quarter last year. According to the company, lower domestic dental sales were partly balanced by stronger international dental demand and steady recurring medical revenue. For the first nine months of the year, revenue rose 5% to $6.9 million from $6.6 million, supported by continued growth in international dental markets and higher recurring revenue in the medical segment.

Reimbursement Strategy Advances

CEO Eric Hines stated the company is 「encouraged by growing utilization and recurring revenue from CompuFlo disposables.」

The company is also advancing its reimbursement strategy, building on recent Medicare payment-rate assignments and expanding commercial coverage to drive medical segment adoption.

Stock Performance

Milestone Scientific's shares have fallen 59.61% year to date.

Milestone Scientific's stock has moved between $0.35 and $1.39 over the past year and has a market capitalization of about $29.8 million.

Benzinga's Edge Stock Rankings indicates MLSS stock has a negative price trend across all time frames.  Here is how the stock fares on other parameters.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.