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Side-by-side financial comparison of MILESTONE SCIENTIFIC INC. (MLSS) and Beyond Air, Inc. (XAIR). Click either name above to swap in a different company.

Beyond Air, Inc. is the larger business by last-quarter revenue ($2.2M vs $2.1M, roughly 1.1× MILESTONE SCIENTIFIC INC.). MILESTONE SCIENTIFIC INC. runs the higher net margin — -53.0% vs -334.4%, a 281.4% gap on every dollar of revenue. On growth, Beyond Air, Inc. posted the faster year-over-year revenue change (104.7% vs 2.2%). Over the past eight quarters, Beyond Air, Inc.'s revenue compounded faster (116.1% CAGR vs -4.3%).

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.

Delta Air Lines, Inc. is a major airline in the United States headquartered in Atlanta, Georgia, operating nine hubs, with Hartsfield–Jackson Atlanta International Airport being its largest in terms of total passengers and number of departures. With its regional subsidiaries and contractors operating under the brand name Delta Connection, Delta has over 5,400 flights daily and serves 325 destinations in 52 countries on six continents.

MLSS vs XAIR — Head-to-Head

Bigger by revenue
XAIR
XAIR
1.1× larger
XAIR
$2.2M
$2.1M
MLSS
Growing faster (revenue YoY)
XAIR
XAIR
+102.5% gap
XAIR
104.7%
2.2%
MLSS
Higher net margin
MLSS
MLSS
281.4% more per $
MLSS
-53.0%
-334.4%
XAIR
Faster 2-yr revenue CAGR
XAIR
XAIR
Annualised
XAIR
116.1%
-4.3%
MLSS

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
MLSS
MLSS
XAIR
XAIR
Revenue
$2.1M
$2.2M
Net Profit
$-1.1M
$-7.3M
Gross Margin
73.0%
13.7%
Operating Margin
-52.5%
-300.6%
Net Margin
-53.0%
-334.4%
Revenue YoY
2.2%
104.7%
Net Profit YoY
46.4%
43.7%
EPS (diluted)
$-0.85

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
XAIR
XAIR
Q4 25
$2.1M
$2.2M
Q3 25
$2.4M
$1.8M
Q2 25
$2.3M
$1.8M
Q1 25
$2.2M
$1.2M
Q4 24
$2.0M
$1.1M
Q3 24
$2.5M
$798.0K
Q2 24
$1.9M
$683.0K
Q1 24
$2.2M
$470.0K
Net Profit
MLSS
MLSS
XAIR
XAIR
Q4 25
$-1.1M
$-7.3M
Q3 25
$-1.2M
$-7.9M
Q2 25
$-1.5M
$-7.7M
Q1 25
$-2.0M
$-8.0M
Q4 24
$-2.0M
$-13.0M
Q3 24
$-1.5M
$-13.4M
Q2 24
$223.6K
$-12.2M
Q1 24
$-1.4M
$-13.7M
Gross Margin
MLSS
MLSS
XAIR
XAIR
Q4 25
73.0%
13.7%
Q3 25
69.5%
-16.4%
Q2 25
69.6%
8.9%
Q1 25
73.8%
-2.8%
Q4 24
75.0%
-20.1%
Q3 24
73.0%
-135.8%
Q2 24
76.1%
-48.6%
Q1 24
74.5%
-109.4%
Operating Margin
MLSS
MLSS
XAIR
XAIR
Q4 25
-52.5%
-300.6%
Q3 25
-48.1%
-421.4%
Q2 25
-63.9%
-432.8%
Q1 25
-89.5%
-622.6%
Q4 24
-101.4%
-1021.6%
Q3 24
-58.4%
-1608.1%
Q2 24
-96.0%
-1988.3%
Q1 24
-65.1%
-2687.9%
Net Margin
MLSS
MLSS
XAIR
XAIR
Q4 25
-53.0%
-334.4%
Q3 25
-48.9%
-436.7%
Q2 25
-63.8%
-437.0%
Q1 25
-89.3%
-697.4%
Q4 24
-101.1%
-1215.7%
Q3 24
-58.1%
-1673.9%
Q2 24
12.1%
-1786.4%
Q1 24
-64.1%
-2916.4%
EPS (diluted)
MLSS
MLSS
XAIR
XAIR
Q4 25
$-0.85
Q3 25
$-0.01
$-1.25
Q2 25
$-1.53
Q1 25
$13.26
Q4 24
$-2.96
Q3 24
$-0.02
$-5.67
Q2 24
$-5.32
Q1 24
$-0.36

Balance Sheet & Financial Strength

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

Metric
MLSS
MLSS
XAIR
XAIR
Cash + ST InvestmentsLiquidity on hand
$1.1M
$11.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.8M
$8.1M
Total Assets
$7.8M
$36.8M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MLSS
MLSS
XAIR
XAIR
Q4 25
$1.1M
$11.7M
Q3 25
$1.3M
$10.7M
Q2 25
$1.3M
$6.5M
Q1 25
$2.2M
$6.9M
Q4 24
$3.3M
$10.9M
Q3 24
$4.8M
$28.4M
Q2 24
$5.8M
$21.4M
Q1 24
$5.0M
$34.5M
Total Debt
MLSS
MLSS
XAIR
XAIR
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$11.8M
Q3 24
$12.5M
Q2 24
$17.5M
Q1 24
$17.5M
Stockholders' Equity
MLSS
MLSS
XAIR
XAIR
Q4 25
$2.8M
$8.1M
Q3 25
$2.5M
$12.7M
Q2 25
$3.3M
$9.9M
Q1 25
$4.5M
$13.6M
Q4 24
$5.8M
$17.6M
Q3 24
$7.2M
$28.1M
Q2 24
$8.0M
$16.1M
Q1 24
$7.5M
$25.0M
Total Assets
MLSS
MLSS
XAIR
XAIR
Q4 25
$7.8M
$36.8M
Q3 25
$8.5M
$31.0M
Q2 25
$8.1M
$28.1M
Q1 25
$9.1M
$30.1M
Q4 24
$9.8M
$34.1M
Q3 24
$11.2M
$53.0M
Q2 24
$12.0M
$46.5M
Q1 24
$11.4M
$57.0M
Debt / Equity
MLSS
MLSS
XAIR
XAIR
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
0.67×
Q3 24
0.44×
Q2 24
1.08×
Q1 24
0.70×

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
XAIR
XAIR
Operating Cash FlowLast quarter
$-226.1K
$-4.2M
Free Cash FlowOCF − Capex
$-4.3M
FCF MarginFCF / Revenue
-193.8%
Capex IntensityCapex / Revenue
1.5%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-22.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MLSS
MLSS
XAIR
XAIR
Q4 25
$-226.1K
$-4.2M
Q3 25
$81.8K
$-4.5M
Q2 25
$-1.8M
$-4.5M
Q1 25
$-1.0M
$-7.0M
Q4 24
$-1.5M
$-7.7M
Q3 24
$-973.9K
$-13.3M
Q2 24
$783.7K
$-10.2M
Q1 24
$-1.2M
$-10.7M
Free Cash Flow
MLSS
MLSS
XAIR
XAIR
Q4 25
$-4.3M
Q3 25
$-4.7M
Q2 25
$-4.7M
Q1 25
$-8.5M
Q4 24
$-8.3M
Q3 24
$-14.5M
Q2 24
$-12.9M
Q1 24
$-12.7M
FCF Margin
MLSS
MLSS
XAIR
XAIR
Q4 25
-193.8%
Q3 25
-258.5%
Q2 25
-268.4%
Q1 25
-733.9%
Q4 24
-771.5%
Q3 24
-1819.9%
Q2 24
-1881.8%
Q1 24
-2692.8%
Capex Intensity
MLSS
MLSS
XAIR
XAIR
Q4 25
1.5%
Q3 25
13.5%
Q2 25
11.3%
Q1 25
130.0%
Q4 24
50.1%
Q3 24
147.2%
Q2 24
391.4%
Q1 24
410.9%
Cash Conversion
MLSS
MLSS
XAIR
XAIR
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.

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