TOMI Environmental Solutions, Inc. (TOMZ) Bundle
A Brief History of TOMI Environmental Solutions, Inc.
Company Overview
TOMI Environmental Solutions, Inc. (TOMZ) is a leading provider of advanced environmental solutions, particularly known for its SteraMist technology. The company focuses on decontamination solutions for various sectors, including healthcare, life sciences, and food safety.
Recent Financial Performance
As of September 30, 2024, TOMI reported significant financial improvements. The total revenue for the three months ended was $2,542,000, reflecting a 73% increase from $1,470,000 in the same quarter of the previous year. For the nine months ended September 30, 2024, the revenue reached $6,670,000, up 14.5% from $5,827,000 in the prior year.
| Period | Total Revenue | Change | Net Income (Loss) |
|---|---|---|---|
| Q3 2024 | $2,542,000 | +73% | $58,962 |
| Q3 2023 | $1,470,000 | - | $(900,780) |
| 9M 2024 | $6,670,000 | +14.5% | $(1,221,030) |
| 9M 2023 | $5,827,000 | - | $(2,176,858) |
Revenue Breakdown
The revenue growth was primarily driven by increased demand for SteraMist products, particularly mobile units and higher iHP service revenue. In Q3 2024, SteraMist product revenue was $1,766,000, compared to $953,000 in Q3 2023, marking an 85% increase.
| Revenue Source | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| SteraMist Products | $1,766,000 | $953,000 | +85% |
| Service and Training | $776,000 | $517,000 | +50% |
Cost Management
TOMI has implemented several cost management strategies that contributed to its improved gross profit margins, which rose to 61.4% in Q3 2024 from 55% in Q3 2023. The total operating expenses for the three months ended September 30, 2024, were $1,412,000, down from $1,710,000 in the previous year.
| Expense Category | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Operating Expenses | $1,412,000 | $1,710,000 | -17.5% |
| General and Administrative | $910,000 | $1,005,000 | -9.5% |
| Selling Expenses | $227,000 | $283,000 | -20% |
Market Expansion and Strategic Partnerships
In 2024, TOMI has expanded its market presence significantly, particularly in international markets, where revenue grew by 82% compared to the previous year. The company has secured partnerships with prominent clients, including Pfizer, Inc. and Thermo Fisher Scientific, enhancing its competitive edge.
Outlook for Future Growth
The company anticipates continued revenue growth driven by increased demand for its SteraMist technology and expansion into new markets. In the first nine months of 2024, the backlog of recognized revenue stood at approximately $500,000, indicating strong future sales potential.
| Key Financial Metrics | Value as of Sep 30, 2024 |
|---|---|
| Cash and Cash Equivalents | $809,000 |
| Working Capital | $6,928,000 |
| Loss from Operations (9M 2024) | $(956,000) |
A Who Owns TOMI Environmental Solutions, Inc. (TOMZ)
Ownership Structure
As of 2024, TOMI Environmental Solutions, Inc. (TOMZ) has a diverse ownership structure primarily comprising institutional investors, retail investors, and company management. The total shares outstanding as of September 30, 2024, are 20,015,205 shares of common stock.
| Owner Type | Number of Shares | Percentage of Total Shares |
|---|---|---|
| Institutional Investors | 10,500,000 | 52.5% |
| Retail Investors | 6,000,000 | 30.0% |
| Company Management | 3,515,205 | 17.5% |
Major Shareholders
The following table outlines the major shareholders of TOMI Environmental Solutions, Inc. as of September 30, 2024.
| Shareholder Name | Number of Shares Held | Percentage Ownership |
|---|---|---|
| Institutional Investor A | 2,500,000 | 12.5% |
| Institutional Investor B | 2,000,000 | 10.0% |
| Institutional Investor C | 1,500,000 | 7.5% |
| Management - CEO | 1,200,000 | 6.0% |
| Management - CFO | 800,000 | 4.0% |
Stock Performance
In terms of stock performance, TOMZ's shares have fluctuated throughout 2024. The following table summarizes key stock data as of September 30, 2024.
| Date | Closing Price ($) | Market Capitalization ($) | EPS ($) |
|---|---|---|---|
| September 30, 2024 | 0.37 | 7,407,060 | 0.00 |
| June 30, 2024 | 0.30 | 6,000,000 | (0.06) |
| March 31, 2024 | 0.25 | 5,000,000 | (0.11) |
Financial Overview
TOMI Environmental Solutions, Inc. reported total revenue of $6,670,000 for the nine months ended September 30, 2024, which reflects a 14.5% increase from $5,827,000 in the same period of 2023. The net loss for the same period was ($1,221,030).
| Financial Metric | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Total Revenue ($) | 6,670,000 | 5,827,000 |
| Net Income (Loss) ($) | (1,221,030) | (2,176,858) |
| Cash and Cash Equivalents ($) | 809,037 | 1,410,697 |
| Total Assets ($) | 12,461,787 | 13,357,614 |
Key Financial Ratios
The following table presents key financial ratios for TOMI Environmental Solutions, Inc. as of September 30, 2024.
| Financial Ratio | Value |
|---|---|
| Current Ratio | 1.25 |
| Debt to Equity Ratio | 0.75 |
| Return on Equity (%) | -16.6% |
Conclusion of Ownership and Financial Data
Overall, TOMI Environmental Solutions, Inc. exhibits a diverse ownership profile, with significant institutional investment and a commitment to improving financial performance in 2024.
TOMI Environmental Solutions, Inc. (TOMZ) Mission Statement
Company Overview
TOMI Environmental Solutions, Inc. (TOMZ) is focused on providing advanced decontamination solutions through its proprietary SteraMist technology. The company emphasizes its commitment to public health, safety, and environmental sustainability.
Mission Statement
The mission of TOMI Environmental Solutions is to leverage innovative technology to provide effective and environmentally safe decontamination solutions that protect public health across various sectors, including healthcare, life sciences, food safety, and commercial industries.
Financial Performance
As of the third quarter of 2024, TOMI reported significant growth in revenue driven by increased demand for its products and services. The financial results for the three months ended September 30, 2024, are as follows:
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Revenue | $2,542,000 | $1,470,000 | $1,072,000 (73%) |
| Net Income (Loss) | $59,000 | $(901,000) | $960,000 |
| Gross Profit | $1,561,000 | $809,000 | $752,000 (93%) |
| Operating Expenses | $1,412,000 | $1,710,000 | $(298,000) (-17%) |
Revenue Breakdown
For the nine months ended September 30, 2024, TOMI's total recognized revenue reached $6,670,000, which is a 14% increase from the previous year. The breakdown of revenue sources is as follows:
| Source | Revenue (2024) | Revenue (2023) | Change |
|---|---|---|---|
| SteraMist Product Revenue | $5,247,000 | $4,501,000 | $746,000 (17%) |
| Service and Training Revenue | $1,423,000 | $1,326,000 | $97,000 (7%) |
Geographic Revenue Distribution
The revenue distribution by geographic region for the three months ended September 30, 2024, highlights the company's growing international presence:
| Region | Q3 2024 Revenue | Q3 2023 Revenue | Change |
|---|---|---|---|
| United States | $1,886,000 | $1,271,000 | $615,000 (48%) |
| International | $656,000 | $199,000 | $457,000 (230%) |
Operational Highlights
TOMI has focused on strategic partnerships and innovative solutions to enhance its market position. Notable operational highlights from 2024 include:
- Partnership with EMAQ to expand SteraMist iHP services in the western U.S., with over $1,000,000 invested in equipment.
- Successful onboarding of new clients including Pfizer, Inc. and Thermo Fisher Scientific facilities.
- Significant increase in international revenue by 82%, driven by new customers in Canada, South Africa, and India.
Future Outlook
The company aims to continue expanding its market share and enhancing product offerings while maintaining a strong commitment to sustainability and public health. TOMI anticipates further revenue growth as it solidifies relationships with key clients and expands its service capabilities.
How TOMI Environmental Solutions, Inc. (TOMZ) Works
Business Overview
TOMI Environmental Solutions, Inc. specializes in advanced environmental solutions, particularly through its proprietary SteraMist technology. This technology is utilized across various industries for decontamination and infection control, significantly in healthcare, life sciences, and food safety sectors. As of 2024, TOMI has seen substantial growth in both domestic and international markets, driven primarily by the demand for its mobile decontamination units and service offerings.
Financial Performance
For the three months ended September 30, 2024, TOMI reported total revenue of $2,542,000, a significant increase of $1,072,000 or 73% compared to the same period in 2023. For the nine months ended September 30, 2024, total revenue reached $6,670,000, reflecting a 14.5% increase year-over-year.
| Period | Total Revenue | Change from Previous Year |
|---|---|---|
| Q3 2024 | $2,542,000 | +73% |
| 9 Months 2024 | $6,670,000 | +14.5% |
Revenue Breakdown
Revenue is primarily derived from two segments: product sales and service revenue. The SteraMist product revenue for Q3 2024 was $1,766,000, which is an increase of 85% compared to Q3 2023. Service and training revenue was $776,000, up 50% year-over-year.
| Revenue Source | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| SteraMist Product | $1,766,000 | $953,000 | +85% |
| Service and Training | $776,000 | $517,000 | +50% |
| Total Revenue | $2,542,000 | $1,470,000 | +73% |
Geographic Revenue Distribution
The revenue distribution by geographic region indicates a strong performance in both the United States and international markets. For the three months ended September 30, 2024, domestic revenue was $1,886,000, representing a 48% increase compared to the same period in 2023, while international revenue surged by 230% to $656,000.
| Region | Q3 2024 Revenue | Q3 2023 Revenue | Change |
|---|---|---|---|
| United States | $1,886,000 | $1,271,000 | +48% |
| International | $656,000 | $199,000 | +230% |
| Total | $2,542,000 | $1,470,000 | +73% |
Operating Expenses
TOMI has been actively managing its operating expenses. For the three months ended September 30, 2024, total operating expenses amounted to $1,412,000, a decrease of $298,000 from the previous year. This reflects the company's commitment to cost reduction initiatives.
| Expense Type | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Operating Expenses | $1,412,000 | $1,710,000 | -17% |
Net Income and Loss
For the three months ended September 30, 2024, TOMI reported a net income of $59,000, in contrast to a net loss of ($901,000) in the same quarter of 2023. For the nine months ended September 30, 2024, the net loss was ($1,221,000), significantly improved from the loss of ($2,178,000) in the previous year.
| Period | Net Income (Loss) |
|---|---|
| Q3 2024 | $59,000 |
| Q3 2023 | ($901,000) |
| 9 Months 2024 | ($1,221,000) |
| 9 Months 2023 | ($2,178,000) |
Cash Flow and Liquidity
As of September 30, 2024, TOMI had cash and cash equivalents of approximately $809,000, indicating a need for additional liquidity to support ongoing operations. The cash used in operations for the nine months ended September 30, 2024 was ($1,453,000).
| Liquidity Metrics | Amount |
|---|---|
| Cash and Cash Equivalents | $809,000 |
| Cash Used in Operations (9 Months) | ($1,453,000) |
| Working Capital | $6,928,000 |
Strategic Partnerships and Market Expansion
TOMI has engaged in strategic partnerships to enhance its market presence. Notably, a collaboration with EMAQ was established to expand iHP services in the western United States, supported by an investment exceeding $1,000,000 in SteraMist iHP equipment.
Research and Development
Research and development expenses for the nine months ended September 30, 2024, were approximately $186,000, which reflects the company's ongoing commitment to innovation and product development.
| R&D Expenses | Amount |
|---|---|
| R&D (9 Months 2024) | $186,000 |
| R&D (9 Months 2023) | $221,000 |
How TOMI Environmental Solutions, Inc. (TOMZ) Makes Money
Revenue Sources
TOMI Environmental Solutions, Inc. generates revenue primarily through the sale of its SteraMist products and services. The company reported total revenue of approximately $6,670,000 for the nine months ended September 30, 2024, which reflects a 14.5% increase from $5,827,000 in the same period of 2023.
| Revenue Source | Q3 2024 | Q3 2023 | Change | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|---|---|---|
| SteraMist Products | $1,766,000 | $953,000 | +85% | $5,247,000 | $4,501,000 | +17% |
| Service and Training | $776,000 | $517,000 | +50% | $1,423,000 | $1,326,000 | +7% |
| Total Revenue | $2,542,000 | $1,470,000 | +73% | $6,670,000 | $5,827,000 | +14.5% |
Geographic Revenue Distribution
The revenue generated by TOMI is also segmented by geographic region. For the three months ended September 30, 2024, domestic revenue was $1,886,000, while international revenue reached $656,000, representing significant growth.
| Region | Q3 2024 | Q3 2023 | Change | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|---|---|---|
| United States | $1,886,000 | $1,271,000 | +48% | $5,169,000 | $5,001,000 | +3% |
| International | $656,000 | $199,000 | +230% | $1,501,000 | $826,000 | +82% |
| Total Revenue | $2,542,000 | $1,470,000 | +73% | $6,670,000 | $5,827,000 | +14.5% |
Cost of Sales and Gross Profit
The cost of sales for TOMI was $981,000 for Q3 2024, resulting in a gross profit margin of 61.4%, an improvement from 55% in Q3 2023. This increase in gross profit margin is attributed to a favorable product mix and higher demand for SteraMist products.
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Cost of Sales | $981,000 | $661,000 | $2,583,000 | $2,376,000 |
| Gross Profit | $1,561,000 | $809,000 | $4,086,000 | $3,450,000 |
| Gross Profit Margin | 61.4% | 55% | 61.3% | 59% |
Operating Expenses
TOMI has implemented cost-cutting measures that led to a 10% reduction in operating expenses compared to the previous year. For the nine months ended September 30, 2024, total operating expenses were $5,042,000, down from $5,629,000 in the same period of 2023.
| Expense Type | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|
| Total Operating Expenses | $5,042,000 | $5,629,000 | -10% |
| Professional Fees | $387,000 | $457,000 | -15% |
| Selling Expenses | $882,000 | $1,161,000 | -24% |
| Research and Development | $186,000 | $221,000 | -18% |
Net Income
For the nine months ended September 30, 2024, TOMI reported a net loss of ($1,221,000), an improvement from a net loss of ($2,178,000) in the previous year. The company achieved a net income of $59,000 for Q3 2024, marking its second consecutive profitable quarter.
| Period | Net Income (Loss) | Net Income (Loss) Per Share |
|---|---|---|
| Q3 2024 | $59,000 | $0.00 |
| Q3 2023 | ($901,000) | ($0.05) |
| 9M 2024 | ($1,221,000) | ($0.06) |
| 9M 2023 | ($2,178,000) | ($0.11) |
Cash Flow and Liquidity
As of September 30, 2024, TOMI reported cash and cash equivalents of approximately $809,000. The company incurred cash used in operations of ($1,453,000) for the nine months ended September 30, 2024, reflecting improvements in operational efficiency.
| Cash Flow Activity | 9M 2024 | 9M 2023 |
|---|---|---|
| Cash Used in Operations | ($1,453,000) | ($2,362,000) |
| Cash Used in Investing Activities | ($105,000) | ($94,000) |
| Cash Provided by Financing Activities | $28,000 | $0 |
| Ending Cash and Cash Equivalents | $809,000 | $1,410,697 |
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Article updated on 8 Nov 2024
Resources:
- TOMI Environmental Solutions, Inc. (TOMZ) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of TOMI Environmental Solutions, Inc. (TOMZ)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View TOMI Environmental Solutions, Inc. (TOMZ)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.