TOMI and Cellares to Collaborate on the Integration of SteraMist iHP Technology into Revolutionary New Cell Therapy Manufacturing Solution
Source: GlobeNewswire Inc.
TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced a collaboration with Cellares to integrate its SteraMist ionized Hydrogen Peroxide (iHP) technology into a revolutionary new cell therapy manufacturing solution, the Cell Shuttle, designed and produced by Cellares.
The Cellares Cell Shuttle is a breakthrough in automated cell therapy manufacturing, offering end-to-end automation and reducing inefficiencies. This revolutionary system enables fully automated production of cell therapies for up to 16 different patients simultaneously, a significant increase in yield compared to traditional manufacturing methods.
Due to the critical importance of maintaining a sterile environment within the confined spaces of the Cell Shuttle, Cellares selected TOMI's patented iHP decontamination technology. The SteraMist iHP technology ensures comprehensive decontamination with its small micron particles, offering advantages in efficacy and safety over other commercially available decontamination methods.
TOMI and Cellares began their partnership in 2021 and are now in the final stages of iHP Cell Shuttle prototypes. TOMI has developed a new sleek, clean, compliant, and efficient system for integration into the Cell Shuttle. These systems are designed to be compact while maintaining all industry standards that SteraMist iHP technology represents.
“Our collaboration with TOMI and SteraMist iHP technology has been instrumental in bringing effective decontamination to the Cell Shuttle,” stated Daniele Malleo, PhD, VP of Research & Development at Cellares. “We are confident that our design, coupled with the SteraMist iHP decontamination, will set the standard for cell-therapy manufacturing in the industry.”
“We are incredibly excited that Cellares is working with our team to achieve seamless integration of our technology into their groundbreaking Cell Shuttle. It has been a pleasure collaborating with their research and development team to develop a tailor-made SteraMist iHP system, designed to meet their requirements and be offered alongside their product,” Elissa J. (E.J.) Shane, TOMI’s COO, states. “We continue to seek out and build strong partnerships with leading life science manufactures where there is a need for all the advantages of SteraMist iHP disinfection technology.”
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 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 and uses patented ionized Hydrogen Peroxide (iHP™) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.
For additional information, please visit http://www.tomimist.com/ or contact us at firstname.lastname@example.org
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains 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 to collaboration with Cellares and anticipated sales based on such collaboration. 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 generate sales and increase revenue, 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, 2021 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
Tomi Environmental Solutions, Inc. Reports 40% Increase in Fourth Quarter Revenue
Source: GlobeNewswire Inc.
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 fourth quarter and year ended December 31, 2022.
TOMI Chief Executive Officer, Dr. Halden Shane, stated, “2022 delivered continued growth in our revenue and sales pipeline as well as improved year over year financial operating results. We ended the year on a strong note as we grew fourth quarter sales by 40% compared to the same prior year period and saw 60% growth sequentially from the prior quarter. In fact, in the quarter ended December 31, 2022 we delivered our best financial results since 2020. Furthermore, we continue to see positive signs in the marketplace as our fourth quarter solution sales grew by 31% compared to our prior year fourth quarter. We expect solution sales to continue to increase, particularly as we grow our base of CES systems, which should have a positive impact on margins.
“Our recognized revenue and sales backlog for the year ended December 31, 2022, together, was $10.4 million and we saw 22% year over year growth in customer orders. The increase in sales was largely attributable to increased demand for our CES systems due to the success of our internal tech team’s ability to deliver systems in the fourth quarter of 2022, as well as an increase in mobile equipment orders due to our expanded product line which now features our fourth generation environment system, SteraPak, Select Plus and CES system.
“The higher sales, gross profit and reduced operating expenses led to improved overall annual financial results as our loss from operations declined 41% year over year and we achieved 42% improvement in our loss per share in 2022.
“We entered 2023 with strong momentum and we will continue to focus on executing our strategies to grow revenues, expand business development and deliver improved results and values for our shareholders,” Dr. Shane concluded.
Financial Results for the year ended December 31, 2022, compared to December 31, 2021
Total net revenue was $8,338,000 compared to $7,754,000, an increase of $584,000, or 8%.
Gross margin was 60.7% compared to 59.2%. The increase in gross profit was attributable to product mix in sales.
Operating loss was ($2,882,000) compared to ($4,924,000). The improved operating loss was attributable to higher sales, increased gross profit and lower operating expenses.
Net loss was ($2,880,000) or ($0.15) per basic and diluted share, compared to ($4,435,000) or ($0.25) per basic share.
Adjusted EBITDA was a loss of ($1,899,000) compared to ($4,123,000). A table reconciling EBITDA to the appropriate GAAP financial measure is included with the Company’s financial information below.
Cash used in operations was ($1,234,000) compared to ($3,824,000), representing an improvement of $2,590,000.
Financial Results for the three months ended December 31, 2022, compared to December 31, 2021
Total net revenue was $2,812,000 compared to $2,010,000, an increase of $802,000, or 40%.
Gross margin was 58.6% compared to 54.5%. The increase in gross profit was attributable to product mix in sales.
Operating loss of ($706,000) compared to ($1,734,000). The improved operating loss was attributable to higher sales, increased gross profit and lower operating expenses.
Net loss was ($705,000) or ($0.04) per basic and diluted share, compared to ($1,660,000) or ($0.10) per basic share.
Adjusted EBITDA was a loss of ($268,000) compared to ($1,573,000). A table reconciling EBITDA to the appropriate GAAP financial measure is included with the Company's financial information below.
Balance sheet highlights as of December 31, 2022
Cash and cash equivalents were approximately $3.9 million.
Deferred revenue was $0.7 million.
Working capital was $8.8 million.
Shareholders’ equity was $11.4 million.
Recent Financial Highlights:
Recognized revenue and customer sales backlog for the year ended December 31, 2022, together, was approximately $10,362,000.
Received over $10,000,000 in sales orders from key global fortune 500 customers during 2022, representing 22% year over year growth compared to 2021.
8% year over year growth in recognized revenue for the year ended December 31, 2022, compared to 2021.
40% growth in recognized revenue for the three months ended December 31, 2022, compared the same period in 2021.
60% growth in 2022 fourth quarter sales compared to the third of quarter 2022.
Customer sales backlog of $2,024,000 as of December 31, 2022.
Recent Business Highlights:
Received purchase order for an iHP Custom Engineered System (CES) from Avid Bioservices, Inc. (Avid) for implementation in Avid’s new purpose-built viral vector development and manufacturing facility in Costa Mesa, California.
Announced that SteraMist is to be utilized by a world-renowned influenza vaccine company that focuses on innovative research, transformative technologies, production, and distribution.
Announced that the U.S. Department of Health and Human Services (HHS), the largest biomedical research agency in the world, has purchased SteraMist disinfection systems for its Africa-based Biosafety Level 3 Laboratory (BSL-3) laboratory.
Announced that the National Health Services (NHS) Wales purchased SteraMist ionized Hydrogen Peroxide (iHP) technology, further expanding the Company’s presence in Great Britain.
Launched our fourth generation SteraMist Environment System. The system will now be 24 voltages, allowing for universal outlet usage and converting even more of the hydrogen peroxide BIT Solution to hydroxyl radicals, thus lowering H2O2 PPM levels allowing for faster turnaround time. In addition, the unit will have eight (8) outputs where four (4) are dedicated to our regular process of injection, dwell, and aeration along with a light beacon status bar. Four (4) are programmable to meet the customer’s needs for any external equipment they may desire to work with the system.
Successfully completed a second 24-month storage stability, this one to meet US EPA requirements (first one was for EU BPR submission and had different methods/requirements). With the patented 7.8% product, our Binary Ionization Technology Solution is safe to ship by air and store under normal ambient conditions. The study will be submitted for EPA review, and the expiration date will be extended going forward upon EPA approval.
Soli Organic Inc., one of the nation’s largest commercial indoor organic growing companies, obtained multiple SteraMist systems to protect their controlled indoor growing food process from costly fungus, Botrytis. The combination of all SteraMist systems purchased will be used daily, on a continuous cycle, to disinfect everything from seed trays that the soil and plants sit in to the plants themselves.
Conference Call Information
TOMI will hold a conference call to discuss Fourth Quarter and Year End 2022 results at 4:30 p.m. ET today, March 16, 2023.
To participate in the call by phone, dial (877) 545-0523 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0016. Please use the participant access code: 105041. To access the live webcast or view the press release, please visit the Investor Relations section of the TOMI website or register at the following link: https://www.webcaster4.com/Webcast/Page/2262/47852
A replay of the teleconference will be available until Thursday, March 30, 2023, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use replay access code: 47852. A replay of the webcast will be available for at least 90 days on the company’s website, starting approximately one hour after the completion of the call.
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 http://www.tomimist.com/ or contact us at email@example.com.
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, expected sales pipeline; financial performance and operating results for 2023; upcoming launch of new products; expected growth in sales and market demand; revenue opportunities of CES products and brand recognition of our products. 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, the impact of COVID-19 pandemic on our business and customers; 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, 2020 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.
Use of Non-GAAP Financial Measures
To supplement our unaudited consolidated financial statements presented on a basis consistent with U.S. GAAP, we disclose certain non-GAAP financial measures for our historical performance, including EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin. We define EBITDA as net income (loss), adjusted to exclude: interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP financial measure and is intended to serve as a supplement to our results provided in accordance with GAAP. We define Adjusted EBITDA as net income (loss), adjusted to exclude: interest, taxes, depreciation and amortization; stock-based compensation expense. We define Adjusted EBITDA margin as Adjusted EBITDA divided by net revenue. We believe that these historical non-GAAP financial measures provide useful information to both management and investors by excluding certain items and expenses that are not indicative of our core operating results or do not reflect our normal business operations. In addition, our management uses non-GAAP measures to evaluate our performance internally and to benchmark our performance externally against competitors. Our use of non-GAAP financial measures has certain limitations in that such non-GAAP financial measures may not be directly comparable to those reported by other companies. Although we believe that the use of non-GAAP financial measures enhances its investors’ understanding of its business and performance, our use of non-GAAP financial measures should not be considered an alternative to GAAP basis financial measures and should be read in conjunction with the relevant GAAP financial measures. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. Because of these limitations, the non-GAAP financial measure used in this release should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP as set forth below. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures.
it did pop abit on the that 30 million plus volume day. now just basing
Hope y’all took advantage of the dip
Time is all I need for this one
I'm going long, because I like the financial backers(Microsoft and GM). Plus those Form 4 share was purchased around $10. I'm willing to give it time.
I have seen WEJO. Any reason you think it is good timing now?
red TOMZ hope everyone took advantage of that POP
Yes I'm in $$$$ Thanks. Going long on WEJO have a look
Not just here,the entire market.Big RED day
what a ugly ending to such a great start
What’s happening. Here
Could see again Nasdaq circuit breaker halts later today.
Nice accumulation in premarket.
16M trading float!
Nice, TOMZ revenues are $863,000 per employee! >
TOMI Environmental Solutions, Inc. (TOMI) is a bacteria decontamination and infectious disease control company. The Company provides environmental solutions for indoor surface decontamination through the manufacturing, sales, service and licensing of its SteraMist brand of products, including SteraMist Binary Ionization Technology (BIT), which is a hydrogen peroxide-based fog or mist. SteraMist is a technology that produces ionized Hydrogen Peroxide (iHP) using cold plasma science. BIT is a process that aerosolizes and activates a low concentration hydrogen peroxide solution. Its products and services include SteraMist Surface Unit, SteraMist Environment System, The SteraMist Total Disinfection Cart, Stainless Steel 90 Degree Applicator, iHP Plasma Decontamination Chamber, iHP Corporate Service Decontamination and among others. The Company’s operations consist of five divisions based on industries: Hospital-Healthcare, Life Sciences, TOMI Service Network, Food Safety and Commercial.
I let it go move on to ABUS and ARDX. I'm in PHUN postmarket now.
Did I just read the OS is 16 mill?!?… traded over twice the OS?
Whatever is going on, with 39 mill traded I think this is FAR from over
I am one of the ones hedgeing on the Delta strain of the virus. After doing very well with this stock in 2020, now in 2021 according to the news tonite this virus is exploding in Florida ,Texas Alabama and a few another states.This stock in my view,can be at $10.00 in no time.I was correct last year.I bought 500 shares today at an average price of $2.32 and maybe more on Wednesday.
I think people are hedging on the Corona case up-tick and delta variant. Otherwise, I haven't seen any kind of news release.
Just checking in after the 18% spike. News?
They are not even the JC squad !!!! Dumb and dumber. I sent countless emails to Harrold the General Counsel and Director but no idea as to how to market and sell. I sold and took a loss. Grimm.
Seems to be logical. Wonder what they are up to?
how about a contract with India ....for God sakes , it should be a no brainer....clean up that place with Tomi mist.... dose anyone at this company know how to sell
I hope them well, but I am not a shareholder anymore.
Yes, but got off before it sank to the bottom of the ocean.
Not sure what is going on here when profits in Q4 no longer moved the needle far enough to make a greater impact over $5.
Oh well. 2021
DD went out the window figured between vaccine rollout and reopening they would be trading higher, but it seems like MM are either shorting the interest or cashing out on debt. Not sure and not worth the risk in my opinion.
//Entertain Purposes Only//
Do you think that the stock will rise after the 3/30 release???
I’m just taking a wild guess but earnings report is coming out 3/30/21 and based on the some of the past financials can someone explain how this stock is not trading higher when you open and go maskless and only a 1/4 of the US population is vaccinated and we have variants coming to light every day. IMO disinfectants are going to be a huge part in getting people back to the normal life. We should probably be this on all cargo containers if you ask me coming into our ports.
// Entertainment Purposes Only DD first//