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Side-by-side financial comparison of MILESTONE SCIENTIFIC INC. (MLSS) and SMITH MICRO SOFTWARE, INC. (SMSI). Click either name above to swap in a different company.

SMITH MICRO SOFTWARE, INC. is the larger business by last-quarter revenue ($4.0M vs $2.1M, roughly 1.9× MILESTONE SCIENTIFIC INC.). On growth, MILESTONE SCIENTIFIC INC. posted the faster year-over-year revenue change (2.2% vs -20.0%). Over the past eight quarters, MILESTONE SCIENTIFIC INC.'s revenue compounded faster (-4.3% CAGR vs -17.2%).

Boston Scientific Corporation (BSC) is an American biotechnology and biomedical engineering firm and multinational manufacturer of medical devices used in interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.

Smith Micro Software, Inc., founded in 1982 by William W. Smith, Jr., is a developer and marketer of both enterprise and consumer-level software and services. Headquartered in Pittsburgh, Pennsylvania, Smith Micro maintains multiple domestic and international offices. United States locations include Aliso Viejo, California, and Pittsburgh, Pennsylvania. International offices are located throughout Europe and Asia. Currently, the company focuses on digital lifestyle solutions and security tech...

MLSS vs SMSI — Head-to-Head

Bigger by revenue
SMSI
SMSI
1.9× larger
SMSI
$4.0M
$2.1M
MLSS
Growing faster (revenue YoY)
MLSS
MLSS
+22.2% gap
MLSS
2.2%
-20.0%
SMSI
Faster 2-yr revenue CAGR
MLSS
MLSS
Annualised
MLSS
-4.3%
-17.2%
SMSI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
MLSS
MLSS
SMSI
SMSI
Revenue
$2.1M
$4.0M
Net Profit
$-1.1M
Gross Margin
73.0%
76.4%
Operating Margin
-52.5%
-109.8%
Net Margin
-53.0%
Revenue YoY
2.2%
-20.0%
Net Profit YoY
46.4%
EPS (diluted)
$-0.15

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
MLSS
MLSS
SMSI
SMSI
Q4 25
$2.1M
$4.0M
Q3 25
$2.4M
$4.3M
Q2 25
$2.3M
$4.4M
Q1 25
$2.2M
$4.6M
Q4 24
$2.0M
$5.0M
Q3 24
$2.5M
$4.6M
Q2 24
$1.9M
$5.1M
Q1 24
$2.2M
$5.8M
Net Profit
MLSS
MLSS
SMSI
SMSI
Q4 25
$-1.1M
Q3 25
$-1.2M
$-4.5M
Q2 25
$-1.5M
$-15.1M
Q1 25
$-2.0M
$-5.2M
Q4 24
$-2.0M
Q3 24
$-1.5M
$-6.4M
Q2 24
$223.6K
$-6.9M
Q1 24
$-1.4M
$-31.0M
Gross Margin
MLSS
MLSS
SMSI
SMSI
Q4 25
73.0%
76.4%
Q3 25
69.5%
73.9%
Q2 25
69.6%
73.5%
Q1 25
73.8%
72.8%
Q4 24
75.0%
75.6%
Q3 24
73.0%
71.6%
Q2 24
76.1%
68.7%
Q1 24
74.5%
65.7%
Operating Margin
MLSS
MLSS
SMSI
SMSI
Q4 25
-52.5%
-109.8%
Q3 25
-48.1%
-103.2%
Q2 25
-63.9%
-338.3%
Q1 25
-89.5%
-112.7%
Q4 24
-101.4%
-89.7%
Q3 24
-58.4%
-140.0%
Q2 24
-96.0%
-135.8%
Q1 24
-65.1%
-542.4%
Net Margin
MLSS
MLSS
SMSI
SMSI
Q4 25
-53.0%
Q3 25
-48.9%
-104.3%
Q2 25
-63.8%
-340.8%
Q1 25
-89.3%
-112.1%
Q4 24
-101.1%
Q3 24
-58.1%
-137.0%
Q2 24
12.1%
-134.8%
Q1 24
-64.1%
-534.8%
EPS (diluted)
MLSS
MLSS
SMSI
SMSI
Q4 25
$-0.15
Q3 25
$-0.01
$-0.25
Q2 25
$-0.78
Q1 25
$-0.28
Q4 24
$0.54
Q3 24
$-0.02
$-0.54
Q2 24
$-0.66
Q1 24
$-3.28

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
MLSS
MLSS
SMSI
SMSI
Cash + ST InvestmentsLiquidity on hand
$1.1M
$1.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.8M
$18.4M
Total Assets
$7.8M
$25.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MLSS
MLSS
SMSI
SMSI
Q4 25
$1.1M
$1.5M
Q3 25
$1.3M
$1.4M
Q2 25
$1.3M
$1.4M
Q1 25
$2.2M
$2.3M
Q4 24
$3.3M
$2.8M
Q3 24
$4.8M
$1.5M
Q2 24
$5.8M
$5.6M
Q1 24
$5.0M
$6.2M
Stockholders' Equity
MLSS
MLSS
SMSI
SMSI
Q4 25
$2.8M
$18.4M
Q3 25
$2.5M
$19.9M
Q2 25
$3.3M
$22.4M
Q1 25
$4.5M
$36.6M
Q4 24
$5.8M
$40.8M
Q3 24
$7.2M
$37.7M
Q2 24
$8.0M
$42.9M
Q1 24
$7.5M
$45.4M
Total Assets
MLSS
MLSS
SMSI
SMSI
Q4 25
$7.8M
$25.0M
Q3 25
$8.5M
$27.1M
Q2 25
$8.1M
$29.6M
Q1 25
$9.1M
$43.4M
Q4 24
$9.8M
$48.0M
Q3 24
$11.2M
$46.2M
Q2 24
$12.0M
$53.0M
Q1 24
$11.4M
$55.4M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
MLSS
MLSS
SMSI
SMSI
Operating Cash FlowLast quarter
$-226.1K
$-2.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MLSS
MLSS
SMSI
SMSI
Q4 25
$-226.1K
$-2.2M
Q3 25
$81.8K
$-2.1M
Q2 25
$-1.8M
$-2.3M
Q1 25
$-1.0M
$-602.0K
Q4 24
$-1.5M
$-4.9M
Q3 24
$-973.9K
$-3.8M
Q2 24
$783.7K
$-4.2M
Q1 24
$-1.2M
$-1.3M
Free Cash Flow
MLSS
MLSS
SMSI
SMSI
Q4 25
Q3 25
$-2.2M
Q2 25
Q1 25
$-606.0K
Q4 24
$-4.9M
Q3 24
$-3.8M
Q2 24
$-4.2M
Q1 24
$-1.3M
FCF Margin
MLSS
MLSS
SMSI
SMSI
Q4 25
Q3 25
-49.6%
Q2 25
Q1 25
-13.1%
Q4 24
-99.2%
Q3 24
-82.2%
Q2 24
-82.0%
Q1 24
-23.3%
Capex Intensity
MLSS
MLSS
SMSI
SMSI
Q4 25
Q3 25
0.5%
Q2 25
Q1 25
0.1%
Q4 24
0.1%
Q3 24
0.1%
Q2 24
0.1%
Q1 24
0.1%
Cash Conversion
MLSS
MLSS
SMSI
SMSI
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
3.50×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

MLSS
MLSS

Segment breakdown not available.

SMSI
SMSI

Family Safety$3.2M80%
Other$797.0K20%

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