Wed, Oct 30, 8:41 PM (251 days ago)
**TOMI Environmental Solutions, Inc. (TOMZ) - Q3 2024 Summary** For the quarter ending September 30, 2024, TOMI reported revenue of $2,542,000, a significant increase of 73% year-over-year, driven by strong demand for mobile units and enhanced iHP service revenue. Gross profit margins improved to 61.4% from 55% in the prior year, reflecting a favorable product mix. Operating expenses decreased by 10% compared to Q3 2023, attributed to cost-cutting initiatives, resulting in a net income of $59,000, contrasting with a net loss of $900,780 in Q3 2023. For the nine months ended September 30, 2024, revenue reached $6,670,000, up 14.5% from the previous year. Cash flow from operations was negative at $1,453,000, but TOMI ended the quarter with $809,000 in cash and equivalents. The company continues to focus on expanding its customer base and enhancing its product offerings, particularly in the life sciences and food safety sectors. Future operations may be impacted by ongoing market demand shifts and competitive pressures. Management remains optimistic about growth opportunities, particularly with new strategic partnerships and product innovations.