FREDERICK, Md. – TOMI Environmental Solutions, Inc. (NASDAQ: TOMZ), a global provider of disinfection and decontamination solutions with a market capitalization of $16.88 million, has successfully installed a new Custom Engineered Solution (CES) at a prominent pharmaceutical facility in the United Kingdom (TADAWUL:). The installation represents a significant $500,000 investment by the pharmaceutical company into TOMI’s advanced twelve-applicator CES system, which utilizes the SteraMist iHP technology. According to InvestingPro data, the company maintains impressive gross profit margins of 60.08%, highlighting its operational efficiency in the specialty chemicals sector.
The SteraMist iHP technology is known for its efficient and rapid decontamination capabilities, which allow for continuous operations without the need for full facility shutdowns. This technology is particularly beneficial for critical environments where maintaining uninterrupted operations is essential. The installation marks a strategic expansion for TOMI as it seeks to enhance its global presence in vital markets through its innovative and superior technology.
Dr. Halden Shane, CEO of TOMI Environmental Solutions, stated, “This installation demonstrates the increased demand for our SteraMist technology by life science industry leaders.” He also expressed enthusiasm for the opportunity to showcase the company’s robust technical team and streamlined operations during the international custom system’s design and installation process. The company’s stock has shown strong momentum recently, with InvestingPro reporting a 9.52% return over the past week. Subscribers can access 12 additional exclusive ProTips and comprehensive financial metrics for TOMZ through InvestingPro’s detailed research reports.
TOMI’s SteraMist systems are based on Binary Ionization Technology® (BIT™), developed in conjunction with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense. This technology employs a low percentage of hydrogen peroxide as its only active ingredient to create a potent disinfectant, making it suitable for a wide range of use sites, including hospitals, biosafety labs, and various commercial settings.
The company’s recent installation is part of its ongoing efforts to provide environmental solutions for disinfection across different sectors. While the press release contained forward-looking statements, it is important to note that such statements involve risks and uncertainties that could cause actual results to differ materially from those projected.
This report is based on a press release statement from TOMI Environmental Solutions, Inc., and it does not reflect any analysis or opinion of the reported facts. For deeper insights into TOMZ’s financial health, operational metrics, and growth potential, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.
In other recent news, TOMI Environmental Solutions has seen significant developments. The company reported a robust financial performance in its third quarter of 2024, with revenues rising to approximately $2.5 million, a 73% increase year-over-year. The company’s mobile equipment sales surged by 90%, and its IHP service revenue reached a record $650,000.
In addition, TOMI Environmental Solutions has appointed Nick Jennings as the Interim Chief Financial Officer, following the departure of CFO Joe Rzepka. Jennings, a previous CFO for the company, will serve in this interim role for a five-month period.
Recently, shareholders approved a reverse stock split, aimed at maintaining compliance with Nasdaq’s minimum bid price requirement. Dr. Lim Boh Soon and Ms. Elissa J. Shane were also elected to the Board of Directors, and Rosenberg Rich Baker Berman & Co. were ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
These recent developments highlight the company’s ongoing strategic moves and financial growth. As part of its future expectations, TOMI plans to focus on international expansion and new product launches, as stated in the recent earnings call.
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