FREDERICK, Md., June 10, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, is pleased to announce two recent sales in the Life Sciences sector, underscoring the Company's successful strategic expansion in the sector and growth potential. "These two wins represent the significant progress TOMI is making ...

Expects to reduce cash used in operations by 30% (Approximately $500,000) by end of 2024 Executive Compensation Modifications: Executives will reduce their compensation by 30% of their current cash compensation for the remainder of 2024, thereby reducing the Company's cash requirements for salaries and ensuring alignment of interests with shareholders. Optimization of Consultant Arrangement: Termination of select external consulting agreements, with remaining consultants agreeing to reduce their consultant ...

Expects to reduce cash used in operations by 30% (Approximately $500,000) by end of 2024 FREDERICK, Md., June 06, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced comprehensive cost reduction initiatives to align the Company's cost structure with targeted profitability objectives. Exec ...

Financial Data and Key Metrics - Consolidated net revenue for Q1 2024 was $1.114 billion, down from $1.582 million in Q1 2023 [50] - Consolidated gross profit increased to 60.2% from 59.5% due to product mix of sales [50] - Operating loss was $1.226 billion compared to $1.188 million in the prior year [80] - Net loss was $1.310 million or $0.07 per share, compared to $1.187 million or $0.06 per share [80] - Cash and cash equivalents stood at $1.1 million as of March 31, 2024 [68] Business Line Data and Key Metrics - iHP service revenue increased by 21% in Q1 2024, with significant opportunities resulting in six-figure sales [16][17] - Two CES systems installed in 2022 are now qualified and expected to generate $250,000 in annual solution revenue starting Q4 2024 [45] - The company anticipates $600,000 in BIT solution revenue from current CES installations [53] - A new contract with a California-based life sciences company for a SteraMist iHP-CES valued at $600,000 was secured in February [69] Market Data and Key Metrics - The company is exploring opportunities in the biofuel industry, leveraging iHP technology for cellulose conversion [31] - SteraMist technology is being marketed for decontamination in data centers, a sector expected to see $1 trillion in infrastructure spending over the next five years [32][7] - The company is expanding its presence in the food safety market, with significant interest in decontamination applications [22][77] Company Strategy and Industry Competition - The company is focused on closing more CES sales, driving SIS traction, and expanding iHP Corporate Service revenues [82] - Significant advancements have been made with four distinct manufacturing companies for SIS products [34] - The company is developing an educational platform for its TOMI service network to enhance routine disinfection practices [27] Management Commentary on Operating Environment and Future Outlook - Management expects sequential growth and reduced losses in Q2 2024, aiming for profitability by Q3 2024 [62] - The company is actively pursuing opportunities in multiple verticals, including life sciences, pharmaceuticals, and data centers [31][32] - The SteraMist Pro certified program aims to set industry benchmarks for disinfection and biohazard response [28][29] Other Important Information - The company received a $2 million allocation from the Department of Homeland Security for 16 SteraMist systems to decontaminate Plum Island, with revenue recognition expected in Q4 2024 [10][64] - A $3 million grant application was submitted to the Department of Defense for mitigating ethylene oxide sterilization [65] - The company is investigating fentanyl testing and has ongoing research with the USDA on food safety and pathogen kill [6][72] Q&A Session Summary Question: Timeline for revenue recognition from the $2 million DHS contract - Revenue recognition is expected in Q4 2024, with decontamination activities scheduled for Q1 or Q2 2025 [10] Question: Growth in the CES business and its impact on the razor/razorblade model - CES customers are consistent users of high-margin BIT solutions, with a strong pipeline in life sciences and pharmaceuticals [12] Question: Current cash position and path to profitability - The current cash position might support profitability, but additional funding is needed to scale the company and capitalize on opportunities [15] Question: Potential government stockpiling of SteraMist for emergency purposes - No specific plans for stockpiling, but the company continues research with the USDA on targeted areas [72] Question: Role of SteraMist in PFOS and PFOA treatment - The company is exploring applications but is limited by its size and focus on multiple verticals [84] Question: Interest in using SteraMist for bird flu prevention - The company is marketing its product for avian flu control, potentially preventing mass culling of birds [1][78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 000-09908 TOMI Environmental Solutions, Inc. (Exact name of registrant as specified in its charter) Florida 59-1947988 ...

EX-99.1 2 tomz_ex991.htm PRESS RELEASE EXHIBIT 99.1 TOMI ENVIRONMENTAL SOLUTIONS, INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS FREDERICK, MD, May 15, 2024 — TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced its financial results for the first quarter ended March 31, 2024. TOMI Chief Executive Officer, Dr. ...

TOMI Environmental Solutions, Inc. (NASDAQ:TOMZ) Q4 2023 Earnings Conference Call April 1, 2024 4:30 PM ET Company Participants John Nesbett - Investor Relations Halden Shane - Chief Executive Officer and Chairman E.J. Shane - Chief Operating Officer Nick Jennings - Chief Financial Officer Conference Call Participants John Nelson - Private Investor Operator Good afternoon. Thank you for joining us today for the TOMI Environmental Solutions Investor Update Conference Call. On today’s call is TOMI’s Chief Exe ...

EX-99.1 2 tomz_ex991.htm PRESS RELEASE EXHIBIT 99.1 TOMI ENVIRONMENTAL SOLUTIONS, INC. REPORTS FOURTH QUARTER AND YEAR END 2023 FINANCIAL RESULTS FREDERICK, MD, April 1, 2024 — TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced its fourth quarter and year end 2023 results. TOMI Chief Executive Officer, Dr. Halde ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 TOMI ENVIRONMENTAL SOLUTIONS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Florida 59-1947988 (I.R.S. Employer Identification No.) 8430 Spires Way Frederick, Maryland 21701 (Address of principal executive offices) (Zip Co ...

TOMI Environmental Solutions, Inc. (NASDAQ:TOMZ) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants John Nesbett - Investor Relations Halden Shane - Chief Executive Officer and Chairman E.J. Shane - Chief Operating Officer Nick Jennings - Chief Financial Officer Conference Call Participants John Nelson - Private Investor Operator Greetings. Welcome to the TOMI Environmental Solutions, Inc. Third Quarter 2023 Financial Results Conference Call. [Operator Instructions] Please no ...