Tomi Environmental Solutions I Stock Price, News & Analysis

TOMI Environmental Solutions (NASDAQ: TOMZ), a global leader in disinfection and decontamination through its Binary Ionization Technology (BIT) platform under the SteraMist brand, announced its participation in the H.C. Wainwright 24th Annual Global Investment Conference. Elissa J. Shane, COO, and Joe Rzepka, CFO, will present on September 9, 2024, at 3:00 pm ET in the Roswell room, 4th Floor, at the Lotte New York Palace Hotel, NYC.

TOMI offers environmental solutions utilizing patented ionized Hydrogen Peroxide (iHP) technology, developed in collaboration with DARPA. Its versatile products serve various sectors, including hospitals, biosafety labs, and schools. The company will be available for one-on-one meetings throughout the conference. For more information, visit SteraMist or contact info@tomimist.com.

TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ) has expanded its partnership with a global leader in laboratory testing and diagnostics services. The company received a $715,000 order for SteraMist mobile equipment and a Custom Engineered System (CES) to support the expansion of the client's Wisconsin facility. The order includes two mobile Environment Systems and a seven-applicator iHP CES system for three decontamination rooms.

TOMI's COO, Elissa J. Shane, highlighted the effectiveness of their SteraMist iHP technology in meeting the stringent demands of the life sciences sector. The company anticipates securing contracts with various institutions and expects growth within its custom and integration lines, which will drive recurring BIT-solution revenue.

TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ) reported 170% sequential growth in Q2 2024 revenue, reaching $3,013,000 with break-even EPS. The company achieved profitability with a net income of $30,000, compared to a net loss in Q2 2023. Key highlights include:

- Operating income of $122,000
- Gross margin improvement to 61.5%
- 8.6% year-over-year revenue growth
- Strong mobile equipment sales, accounting for over 60% of revenue
- 31% increase in BIT Solution sales compared to Q2 2023
- 130% growth in international revenue

TOMI's CEO, Dr. Halden Shane, attributed the growth to revitalized revenue and cost reduction initiatives. The company's focus on expanding business development and improving shareholder value has led to nearly matching the entire 2023 mobile equipment sales in just the first half of 2024.

TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ), a global disinfection and decontamination solutions company, has announced it will report its second quarter 2024 financial results on August 1, 2024, after market close. The company will hold a conference call at 4:30 p.m. ET the same day to discuss the results.

Investors can participate in the call by dialing (888) 506-0062 (US) or (973) 528-0011 (International). A live webcast will also be available on TOMI's Investor Relations website. A replay of the call will be accessible until August 15, 2024, using the replay access code: 50974.

TOMI specializes in environmental solutions for disinfection, utilizing its patented Binary Ionization Technology® (BIT™) platform, which uses a low percentage hydrogen peroxide as its active ingredient.

TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ) announced preliminary unaudited revenue for Q2 2024. Revenue is expected to be approximately $3.0 million, a 10% increase year-over-year and a 170% increase sequentially. BIT Solution sales are projected to rise by about 31% year-over-year and 171% sequentially.

CEO Dr. Halden Shane attributes this growth to successful expansion of sales channels and customer base. The company's Custom Engineered Systems (CES) and SteraMist Hybrid solution are driving long-term growth. TOMI expects continued growth in the second half of 2024, aligning with analyst estimates. Full Q2 results are expected to be announced in early August 2024.

TOMI Environmental Solutions (NASDAQ: TOMZ) has secured a $1.2 million contract with Enviro-Mist Inc., a division of EMAQ Group, for the purchase of 20 SteraMist Environment Systems. This revenue will be recognized in Q2 2024. Enviro-Mist has joined TOMI's iHP Corporate Service team as an exclusive partner for the pharmaceutical market in the Western United States.

The partnership includes a multi-year contract for a single location of a long-standing customer, estimated to generate approximately $60,000 in annual BIT Solution sales. This strategic alliance aims to enhance SteraMist iHP technology's market penetration in the pharmaceutical industry, positioning TOMI for large-scale service sales and increased industry presence.

TOMI Environmental Solutions (NASDAQ: TOMZ) is collaborating with partners to combat the global avian influenza (H5N1) outbreak. Announced on June 13, 2024, the outbreak has affected 48 states and 50 jurisdictions, posing significant risks to poultry, dairy farms, and public health. TOMI's Binary Ionization Technology (BIT) and SteraMist products are being utilized to mitigate the spread of the virus. The company sees this as a strategic opportunity for growth in the food safety and agricultural sectors. CEO Dr. Halden Shane emphasizes the importance of advanced disinfection methods and biosecurity measures to ensure business continuity and animal health.

TOMI Environmental Solutions (NASDAQ: TOMZ) announced two new purchase agreements with leading pharmaceutical companies. The first agreement involves a SteraMist Environment System and validation services for a major private pharmaceutical company in Mexico, marking an expansion of TOMI's global operations. The second agreement includes the sale of a SteraMist Hybrid System to BeSpoke Pharmaceuticals, a 503B product manufacturer in Nevada, valued at over $200,000. These deals highlight TOMI's strategic growth and market reach in the Life Sciences sector, underscoring their innovation and potential for long-term growth.

TOMI Environmental Solutions, a global leader in disinfection technology, has announced cost reduction efforts aimed at achieving long-term profitability. The company plans to reduce executive compensation by 30% and cut external consulting fees, targeting a 30% reduction in operational cash use, approximately $500,000, by the end of 2024. Despite these cuts, TOMI will invest in expanding its sales team and global distribution network.

Key business updates include the successful installation of multiple Custom Engineered Systems (CES) expected to generate around $600,000 starting in 2025. TOMI is also in the final stages of securing a $450,000 CES contract with a prominent U.S. cell and gene therapy facility. The company is optimistic about securing new contracts, anticipating an increase in iHP Corporate Services revenue and ongoing negotiations with four major decontamination manufacturers.

Additionally, TOMI has signed a distribution deal with India's STS Technocrat and made its first sale under a Vizient contract, promoting its SteraMist technology.