Tomi Environmental Solutions I Stock Price, News & Analysis

TOMI Environmental Solutions (NASDAQ: TOMZ) has announced a new installation of its Custom Engineered Solution (CES) at a pharmaceutical facility in the United Kingdom. The facility is investing $500,000 in a twelve-applicator CES system that utilizes SteraMist iHP technology for efficient decontamination without requiring complete facility shutdowns.

The installation represents TOMI's strategic expansion in critical markets through its innovative technology offerings. The SteraMist technology uses Binary Ionization Technology (BIT) platform, which was developed under a defense grant with DARPA and employs low percentage hydrogen peroxide as its active ingredient to create ionized Hydrogen Peroxide (iHP) for superior disinfection.

TOMI Environmental Solutions (NASDAQ: TOMZ) is actively monitoring the recent H5N1 bird flu outbreak in California, declared a state of emergency. With 61 reported cases in the US since April 2024 and the CDC confirming the first severe human case, TOMI is poised to contribute its specialized disinfection and decontamination solutions to combat the outbreak.

The company's SteraMist iHP cold plasma technology has demonstrated efficacy against a wide spectrum of microorganisms, including avian influenza. Studies by the USDA, Arkema, and various universities validate its effectiveness in the food industry.

CEO Dr. Halden Shane emphasized TOMI's readiness to deploy SteraMist to protect public health and mitigate the spread of H5N1. The company is collaborating with healthcare providers, government agencies, and other organizations to implement comprehensive infection control strategies.

TOMI, innovating for a safer world, offers its Binary Ionization Technology® (BIT™) platform, developed with DARPA, utilizing ionized Hydrogen Peroxide (iHP™) for superior disinfection in various settings.

TOMI Environmental Solutions (NASDAQ: TOMZ) has expanded its partnership with Betatek, Inc. in Canada, elevating the latter from an independent manufacturing representative to an official SteraMist distributor. This strategic expansion follows Betatek's successful track record since 2017, including onboarding notable clients like the University of Toronto Mississauga and CCRM. The partnership enhancement was marked by Betatek's purchase of the new SteraMist Integrated System (SIS) Standalone.

The strengthened collaboration aims to better serve the growing Canadian life science market, particularly focusing on animal laboratory facilities. Betatek's local market expertise combined with TOMI's decontamination technologies will help address increasing demand in these sectors.

TOMI Environmental Solutions (NASDAQ: TOMZ) announced that Bonneville Joint School District No. 93 in Idaho has integrated SteraMist technology into its cleaning protocols by purchasing multiple SteraPaks. The implementation aims to enhance disinfection measures and protect students and staff against harmful bacteria and viruses, particularly during cold and flu season. This adoption represents TOMI's expansion into the education sector, which is part of the $5.6B disinfection market growing at over 7% CAGR. SteraMist uses Binary Ionization Technology (BIT) platform with ionized Hydrogen Peroxide (iHP) to create superior disinfection solutions.

TOMI Environmental Solutions (NASDAQ: TOMZ) reported strong Q3 2024 results, marking its second consecutive profitable quarter. Revenue increased 73% year-over-year to $2.5 million, with year-to-date revenue reaching $6.7 million, up 14.5% from 2023. The company achieved operating income of $149,000 and net income of $59,000, driven by increased revenue, improved margins, and strategic cost reductions. International revenue grew 82%, with new customers in Canada, South Africa, and India. Operating expenses decreased 10% compared to the same period last year. The company's food safety sector presence expanded with a 208% increase in end users since 2020.

TOMI Environmental Solutions (NASDAQ: TOMZ) announced preliminary Q3 2024 financial results showing strong growth and continued profitability. The company expects a 73% revenue increase for Q3 2024 compared to Q3 2023, and a 14.5% increase for the first nine months of 2024. BIT Solution sales are projected to rise 13% YTD, while SteraMist mobile equipment sales are expected to grow 90% YTD. International sales show significant growth with a 230% increase in Q3 2024 over Q3 2023, contributing to an 82% increase YTD. The company expanded into India and strengthened its presence in South Africa through key customer partnerships, while also advancing into consumer healthcare through collaborations with Edgewell Personal Care and Reckitt Benckiser Group.

TOMI Environmental Solutions (NASDAQ: TOMZ) has secured a contract with Malaysia's National Institute of Forensic Medicine (IPFN) for its newly launched SteraMist Integrated System - Standalone (SIS-SA). The system will be deployed in IPFN's Biosafety Level 3 autopsy room. The contract was secured through TOMI's long-term partner, Kumpulan Novalab Sdn Bhd, which is pursuing multiple government bids in the region. This development represents strategic progress in TOMI's global expansion efforts and demonstrates growing recognition of their iHP technology, particularly as government entities are adopting it without competitive bidding.

TOMI Environmental Solutions (NASDAQ: TOMZ) has scheduled its Third Quarter 2024 financial results conference call for October 30, 2024, after market close. The company will host a conference call at 4:30 p.m. ET, accessible via phone at (888) 506-0062 (US) or (973) 528-0011 (International) with access code 617413. A webcast replay will be available for 90 days, and a teleconference replay until November 6, 2024. TOMI specializes in decontamination solutions through its Binary Ionization Technology platform, which uses ionized Hydrogen Peroxide technology for disinfection across various sectors.

TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ) has launched the SteraMist Integrated System - Standalone (SIS-SA), a revolutionary solution for cleanroom and laboratory decontamination. The SIS-SA addresses critical challenges in the Biological Safety Cabinets (BSCs) industry, offering reliable and efficient decontamination for BSCs and other small enclosed spaces.

The system simplifies daily disinfection in highly controlled environments, replacing labor-intensive and inconsistent processes. Multiple successful deployments in Q3 2024 highlight its potential as a cornerstone solution for high-standard disinfection environments. The growing BSC market, driven by pharmaceutical research, biotechnology, and healthcare sectors, presents a significant opportunity for the SIS-SA.

TOMI's COO, E.J. Shane, emphasized the SIS-SA's ability to solve persistent challenges for customers, ensuring consistent decontamination and helping facilities maintain compliance and operational efficiency.