TOMZ 8-K
TOMI Environmental Solutions, Inc. (TOMZ)
8-K
2024-07-25
For: 2024-07-25
View Original
Added on
April 11, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 25, 2024
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction
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(IRS Employer
Identification No.) |
(Address of principal executive offices, including zip code)
(800 ) 525-1698
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act
of 1934 (§240.12b-2 of this chapter):
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 25, 2024, TOMI Environmental Solutions, Inc. issued a press release announcing its preliminary revenue for the second quarter
ended June 30, 2024. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. No additional information is included in this Current Report on Form 8-K.
The information included in this Current Report on Form 8-K, including the exhibit hereto, shall not be deemed “filed” for purposes of,
nor shall it be deemed incorporated by reference in, any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
See the Exhibit Index below, which is incorporated by reference herein.
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Exhibit No.
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Description
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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TOMI ENVIRONMENTAL SOLUTIONS, INC.
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Date: July 25, 2024
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By:
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/s/ Halden S. Shane
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Name: Halden S. Shane
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Title: Chief Executive Officer
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Exhibit 99.1
TOMI Environmental Announces Preliminary Second Quarter Revenue
Second quarter revenues expected to be approximately $3.0 million, increasing by approximately 10% YoY and 170%
sequentially
BIT Solution sales expected to increase by approximately 31% YoY and 171% sequentially
FREDERICK, Md., July 25, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc. (“TOMI”) (NASDAQ: TOMZ), a global company that
specializes in disinfection and decontamination through the utilization of its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced preliminary unaudited revenue for its second quarter ended
June 30, 2024.
Revenue is expected to be approximately $3.0 million, an increase of 10% over the second quarter ended June 30, 2023, and approximately 170%
over the first quarter ended March 31, 2024. Additionally, The Company expects second quarter BIT Solution sales to increase by approximately 31% compared to the second quarter of 2023 and by 171% sequentially over the first quarter of 2024.
Dr. Halden Shane, TOMI Chief Executive Officer states, “Our strategic growth initiatives are yielding positive outcomes, and we anticipate
improved financial results in the second quarter. We believe that this improved result is a reflection of our successful strategy to expand and grow our sales channels and customer base which is driving strong growth in our product and service
revenues.
“This is the strongest quarterly revenue we have achieved since Covid. A key driver of our long-term growth continues to be the demand for
our Custom Engineered Systems (CES). Additionally, our semi-permanent solution, the SteraMist Hybrid, launched last year, offers numerous opportunities and has proven to be an excellent solution for many. Also, year to date we have nearly matched
the total number of mobile equipment sales that we realized in all of 2023. These innovative products are designed to drive recurring, high-margin BIT solution revenues as part of our razor/razor-blade model, and we anticipate increased solution
sales in the
second quarter. Based on our healthy pipeline, we expect continued growth through the back half of the year aligning with analyst
estimates.”
The Company expects to announce full second quarter results the first week of August 2024.
The preliminary financial results for the quarter ended June 30, 2024, are unaudited, reflect the Company’s estimated financial results and
are based on information available to management as of the date of this release and are subject to potential further material changes upon completion of the Company’s standard quarter-end closing procedures. In preparing this information,
management made certain judgments and estimates about the appropriateness of certain reported amounts and disclosures. Our actual financial results for the three months ended June 30, 2024, have not yet been finalized by management and remain
subject to the completion of management’s final review and our other closing procedures, as well as the completion of the review of our financial statement by our independent auditors. These preliminary estimated results do not represent a
comprehensive statement of all financial results for the three and six months ended June 30, 2024. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial
conditions and results of operations for the period, including the impact of such information on our judgments and estimates referred to above.
TOMI™ Environmental Solutions, Inc.: Innovating for a safer world®
TOMI™ Environmental Solutions, Inc. (NASDAQ: TOMZ) is a global decontamination and infection prevention company, providing environmental
solutions for indoor surface disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology® (BIT™) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency
(DARPA) of the U.S. Department of Defense, BIT™ solution utilizes a low percentage Hydrogen Peroxide as its only active ingredient to produce a fog of ionized Hydrogen Peroxide (iHP™). Represented by the SteraMist® brand of products, iHP™ produces
a germ-killing aerosol that works like a visual non-caustic gas.
TOMI products are designed to service a broad spectrum of commercial structures, including, but not limited to, hospitals and medical
facilities, cruise ships, office buildings, hotel and motel
rooms, schools, restaurants, meat and produce processing facilities, military barracks, police and fire departments, and athletic
facilities. TOMI products and services have also been used in single-family homes and multi-unit residences.
TOMI develops training programs and application protocols for its clients and is a member in good standing with The American Biological
Safety Association, The American Association of Tissue Banks, Association for Professionals in Infection Control and Epidemiology, Society for Healthcare Epidemiology of America, America Seed Trade Association, and The Restoration Industry
Association.
For additional information, please visit https://www.steramist.com/ or contact us at [email protected].
Forward-Looking Statements
This press release contain forward-looking statements that are
based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation,
statements relating expected revenue and sales for the second quarter ended June 30, 2024. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking
statements. These factors include, but are not limited to, our ability to acquire new customers and expands sales; our ability to maintain and manage growth and generate sales, our reliance on a single or a few products for a majority of revenues;
the general business and economic conditions; and other risks as described in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed by us with the SEC and other periodic reports we filed with
the SEC. The information provided in this document is based upon the facts and circumstances known at this time. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity,
performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press
release is as of today’s date, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law.
INVESTOR RELATIONS CONTACT:
John Nesbett/Roz Christian
IMS Investor Relations