The following is a summary of the TOMI Environmental Solutions, Inc. (TOMZ) Q2 2024 Earnings Call Transcript:

Financial Performance:

• TOMI Environmental Solutions reported a significant return to profitability in Q2 2024, with a consolidated net revenue of $3.013 million, up approximately 9% from the previous year.

• Gross profit margin was 61.5%, slightly up from 61.3% the previous year, primarily due to an improved product mix.

• Net profit was reported at $30,000, a significant turnaround from a net loss of $89,000 in the same quarter the previous year.

Business Progress:

• The company experienced a record quarter with revenue exceeding $3 million, a 170% increase compared to the previous quarter, largely driven by strong demand for mobile equipment.

• TOMI has secured approximately $5.6 million in sales year-to-date, which includes recognized revenue, orders delivered for Q3, and open bookings.

• Notable business highlights included the formalization of a partnership with EMAQ to enhance service offerings on the West Coast, and expansions in global markets such as Canada, Mexico, the Philippines, and the UAE.

Opportunities:

• The company is capitalizing on strategic initiatives for sustained growth and market penetration, particularly within the Life Sciences sector, where the unexpected market exit of a competitor presents significant growth opportunities.

• Continued geographical expansion and service diversifications, including the partnership with EMAQ for enhanced service offerings, are expected to improve operational efficiency and market reach.

Risks:

• Net sales in the upcoming quarters may experience fluctuations due to the intrinsic unevenness of order cycles and market conditions, as described by the CEO mentioning the historical lumpiness of results.

More details: TOMI Environmental Solutions IR

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