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Milestone Scientific cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$589K in Q2 2026 · −$658K over twelve months

Operating cash flow−$585K
Capital spending−$4K
Free cash flow−$589K

Analysis

In Q2 2026, Milestone Scientific generated −$585K of operating cash flow and spent $4K on capital projects, leaving free cash flow of −$589K. That is $1.2M more than in Q2 2025 (−$1.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$643K; the largest uses were operating cash flow ($643K), capital spending ($15K), net borrowing (+) / repaid (−) ($15K); besides operations, cash came from other financing ($1.5M); the cash balance rose by $792K.

Operating cash flow was −$585K against net income of −$1.1M. The largest differences: receivables −$447K, inventory +$405K, payables −$315K.

Free cash flow

Milestone Scientific: free cash flow by quarterMilestone Scientific: free cash flow by quarter−$974KQ3 2024−$1.5MQ4 2024−$1.0MQ1 2025−$1.8MQ2 2025$76KQ3 2025−$229KQ4 2025$85KQ1 2026−$589KQ2 2026
Operating cash flow less capital spending.
Milestone Scientific: operating cash flow against capital spendingMilestone Scientific: operating cash flow against capital spendingOperating cash flowCapital spending−$974K$0Q3 2024−$1.5M$4KQ4 2024−$1.0M$1KQ1 2025−$1.8M$4KQ2 2025$82K$6KQ3 2025−$226K$3KQ4 2025$87K$2KQ1 2026−$585K$4KQ2 2026
Latest (Q2 2026): Operating cash flow −$585K, Capital spending $4K.

Capital allocation, year by year

Milestone Scientific: where the cash came from (up) and went (down), by fiscal yearMilestone Scientific: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingFY2021: Operating cash flow −$4.0MFY2021: Net borrowing −$9KFY2021: Shares issued $1.4MFY2021: Capital spending −$15K$1.4MFY2021FY2022: Operating cash flow −$6.0MFY2022: Net borrowing −$9KFY2022: Capital spending −$9KFY2022FY2023: Operating cash flow −$5.3MFY2023: Net borrowing −$9KFY2023: Shares issued $2.6M$2.6MFY2023FY2024: Operating cash flow −$2.9MFY2024: Net borrowing −$10KFY2024: Shares issued $192KFY2024: Capital spending −$10K$192KFY2024FY2025: Operating cash flow −$2.9MFY2025: Net borrowing $786KFY2025: Capital spending −$15K$786KFY2025
Over these 5 years operating cash flow totalled −$21.2M; the largest uses were operating cash flow ($21.2M) and capital spending ($49K). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.1M
Debtnone
Net cash$2.1M
Cash runway3.1 years

Milestone Scientific is burning cash: its operations consume cash, a free cash flow of −$658K a year at the current rate against $2.1M of cash and investments: a runway of about 3.1 years before any new financing.

Where the cash came from and went

Milestone Scientific: sources (+) and uses (−) of cash, Q2 2026Milestone Scientific: sources (+) and uses (−) of cash, Q2 2026Other financing$1.5MCash drawn (+) / kept (−)−$872KOperating cash flow−$585KCapital spending−$4KNet borrowing (+) / repaid (−)−$3K
Milestone Scientific: sources (+) and uses (−) of cash, TTM to Q2 2026Milestone Scientific: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$1.5MCash drawn (+) / kept (−)−$792KOperating cash flow−$643KCapital spending−$15KNet borrowing (+) / repaid (−)−$15K

From profit to cash

Milestone Scientific: net income to operating cash flow, Q2 2026Milestone Scientific: net income to operating cash flow, Q2 2026Net income−$1.1MDepreciation & amortization$20KStock-based pay$310KReceivables−$447KInventory$405KPayables−$315KAccrued liabilities−$97KOperating cash flow−$585K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$585K−$4K−$3K−$872K−$589K
Q1 2026$87K−$2K−$3K−$82K$85K
Q4 2025−$226K−$3K−$3K$233K−$229K
Q3 2025$82K−$6K−$5K−$71K$76K
Q2 2025−$1.8M−$4K−$3K$972K−$1.8M
Q1 2025−$1.0M−$1K−$2K$1.0M−$1.0M
Q4 2024−$1.5M−$4K−$3K$1.5M−$1.5M
Q3 2024−$974K—−$3K$977K−$974K

Milestone Scientific: income statement and cash flow

Milestone Scientific, Q2 2026: revenue $2.8M (+22% year over year), operating margin -37.4%. The chart follows the revenue to costs, profit and cash.

Milestone Scientific: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.