{"id":837147,"date":"2025-04-14T16:34:40","date_gmt":"2025-04-14T20:34:40","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tomi-environmental-solutions-inc-reports-fourth-quarter-and-year-end-2024-financial-results\/"},"modified":"2025-04-14T16:34:40","modified_gmt":"2025-04-14T20:34:40","slug":"tomi-environmental-solutions-inc-reports-fourth-quarter-and-year-end-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tomi-environmental-solutions-inc-reports-fourth-quarter-and-year-end-2024-financial-results\/","title":{"rendered":"TOMI Environmental Solutions, Inc. Reports Fourth Quarter and Year End 2024 Financial Results"},"content":{"rendered":"
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FREDERICK, Md., April 14, 2025 (GLOBE NEWSWIRE) — TOMI Environmental Solutions, Inc.\u00ae<\/sup> (\u201cTOMI\u201d) (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 2024 financial results.<\/p>\n

TOMI Chief Executive Officer, Dr. Halden Shane, stated, \u201cFor the year ended December 31, 2024, we increased our year-over-year annual revenue by 5%, continued to expand our customer base, diversified our product line, and secured significant agreements and new partnerships which will enhance our ability to distribute the SteraMist brand of products and services on a global scale, aiding in the utilization of iHP technology across all divisions worldwide.\u201d<\/p>\n

\u201cDuring the fourth quarter we absorbed significant non-cash charges to certain reserve accounts which contributed to the GAAP net loss for the quarter and full year. Excluding these non-cash adjustments, our financials improved when compared to the prior year, and we expect continued improvement in 2025 as we are off to a great start with preliminary Q1 revenues up 42% over Q1 of last year, and a sales pick-up in our BIT solutions sales thus far in 2025,\u201d Dr. Shane concluded.<\/p>\n

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\n The non-GAAP financial measures in the schedule below and under the sections \u201cFinancial Results for the Year\/Three Months Ended December 31, 2024\u201d below exclude the effect of the allowance for sales returns, inventory reserve, equity compensation expense, and credit loss expense in each of the periods presented. A detailed reconciliation of GAAP and non-GAAP financial measures is included at the end of this press release.<\/em>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n GAAP FINANCIAL COMPARISON<\/u>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n (UNAUDITED)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For The Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\n For The Years Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sales, net<\/td>\n\u00a0<\/td>\n$<\/td>\n1,069,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,528,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,739,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,355,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross Margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(49.5%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54.9%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46.0%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58.3%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating Loss<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,149,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,171,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(4,105,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,349,000)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,256,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,226,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(4,477,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,403,000)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss) per Share<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.16)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.06)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.22)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.17)<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n NON-GAAP FINANCIAL COMPARISON<\/u>
\n <\/strong>\n <\/td>\n<\/tr>\n
\n (UNAUDITED)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For The Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\n For The Years Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n December 31,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sales, gross<\/td>\n\u00a0<\/td>\n$<\/td>\n1,296,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,656,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,966,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,483,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Gross Margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54.2%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58.4%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60.1%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59.0%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Operating Loss<\/td>\n\u00a0<\/td>\n$<\/td>\n(874,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(747,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,678,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,785,000)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Net (Loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n(981,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(802,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,050,000)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,838,000)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Net (Loss) per Share<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.05)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.04)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.10)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.14)<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
Financial Results for the year ended December 31, 2024, compared to December 31, 2023<\/strong>\n <\/p>\n