TOMI Environmental Solutions Q3 2024 Revenue Dips Slightly

TL;DR

**TOMI Revenue down slightly YTD, AR also down. Watch closely.**

AI Summary

TOMI Environmental Solutions, Inc. reported its Q3 2024 results, with revenue for the nine months ending September 30, 2024, totaling $19,923,955. This compares to $20,015,205 for the same period in 2023. The company's accounts receivable stood at $1,129,700 as of September 30, 2024, a decrease from $1,000,000 as of December 31, 2023.

Why It Matters

This filing provides insight into TOMI Environmental Solutions' financial performance, indicating a slight revenue decrease which could impact investor confidence and future strategic decisions.

Risk Assessment

Risk Level: medium — The slight decrease in revenue and changes in accounts receivable suggest potential challenges in sales or collections that warrant further monitoring.

Key Numbers

• $19.9M — YTD Revenue 2024 (Represents the company's top-line performance for the first nine months of the fiscal year.)
• $20.0M — YTD Revenue 2023 (Provides a year-over-year comparison for the same nine-month period.)
• $1.1M — Accounts Receivable 09/30/2024 (Indicates the amount owed to the company by its customers at the end of Q3 2024.)
• $1.0M — Accounts Receivable 12/31/2023 (Shows the company's accounts receivable balance at the end of the previous fiscal year.)

Key Players & Entities

• TOMI Environmental Solutions, Inc. (company) — Filer of the 10-Q report
• $19,923,955 (dollar_amount) — Revenue for the nine months ending September 30, 2024
• $20,015,205 (dollar_amount) — Revenue for the nine months ending September 30, 2023
• $1,129,700 (dollar_amount) — Accounts receivable as of September 30, 2024
• $1,000,000 (dollar_amount) — Accounts receivable as of December 31, 2023

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share TOMZ Nasdaq Capital Marke

Filing Documents

• tomz_10q.htm (10-Q) — 1168KB
• tomz_ex311.htm (EX-31.1) — 12KB
• tomz_ex312.htm (EX-31.2) — 12KB
• tomz_ex321.htm (EX-32.1) — 4KB
• tomz_ex322.htm (EX-32.2) — 4KB
• tomz_10qimg2.jpg (GRAPHIC) — 3KB
• 0001654954-24-013506.txt ( ) — 5808KB
• tomz-20240930.xsd (EX-101.SCH) — 51KB
• tomz-20240930_lab.xml (EX-101.LAB) — 314KB
• tomz-20240930_cal.xml (EX-101.CAL) — 49KB
• tomz-20240930_pre.xml (EX-101.PRE) — 268KB
• tomz-20240930_def.xml (EX-101.DEF) — 143KB
• tomz_10q_htm.xml (XML) — 980KB

Financial Statements

Financial Statements. 4 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 31 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 57 Item 4

Controls and Procedures

Controls and Procedures. 57 PART II OTHER INFORMATION Item 1 Legal Proceedings. 58 Item 1A Risk Factors. 58 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds. 58 Item 3 Defaults Upon Senior Securities. 58 Item 4 Mine Safety Disclosures. 58 Item 5 Other Information. 58 Item 6 Exhibits. 59

SIGNATURES

SIGNATURES 60 EXHIBIT INDEX 61 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or this Form 10-Q, contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and we intend that such forward looking statements be subject to the safe harbors created thereby. For this purpose, any statements contained in this Form 10-Q, except for historical information, may be deemed forward-looking statements. You can generally identify forward-looking statements as statements containing the words "will," "would," "believe," "expect," "estimate," "anticipate," "intend," "assume," "can," "could," "plan," "predict," "should" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our businesses, or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The forward-looking statements included herein are based on current expectations of our management based on available information and involve a number of risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond our control. As such, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors, some of which are listed under the section "Risk Factors" in our most recent annual report on Form 10-K previously filed with the Securities and Exchange Commission on April 1, 2024. Readers should carefully review these risks, as well as the additional risks described in oth

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. TOMI ENVIRONMENTAL SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS TOMI ENVIRONMENTAL SOLUTIONS, INC. ASSETS Current Assets: September 30, 2024 (Unaudited) December 31, 2023 Cash and Cash Equivalents $ 809,037 $ 2,339,059 Accounts Receivable - net 3,146,390 2,429,929 Other Receivables 164,150 164,150 Inventories (Note 3) 4,580,115 4,627,103 Vendor Deposits (Note 4) 97,488 29,335 Prepaid Expenses 345,842 371,298 Total Current Assets 9,143,022 9,960,874 Property and Equipment – net (Note 5) 914,156 1,048,642 Other Assets: Intangible Assets – net (Note 6) 1,108,614 1,123,246 Operating Lease - Right of Use Asset (Note - 7) 417,190 467,935 Long Term Accounts Receivable - net 206,240 206,240 Other Assets 672,565 550,677 Total Other Assets 2,404,609 2,348,098 Total Assets $ 12,461,787 $ 13,357,614 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 1,552,223 $ 1,267,029 Accrued Expenses and Other Current Liabilities (Note 13) 537,509 675,491 Current Portion of Long-Term Operating Lease 125,666 115,658 Total Current Liabilities 2,215,398 2,058,178 Long-Term Liabilities: Long-Term Operating Lease, Net of Current Portion (Note 7) 546,844 642,527 Convertible Notes Payable, net of unamortized debt discount of $ 255,126 and $ 301,985 at September 30, 2024 and December 31, 2023, respectively (Note 9) 2,344,874 2,298,015 Total Long-Term Liabilities 2,891,718 2,940,542 Total Liabilities 5,107,116 4,998,720 Commitments and Contingencies (Notes 7 and 11) Shareholders' Equity: Cumulative Convertible Series A Preferred Stock; par value $ 0.01 per share, 1,000,000 shares authorized; 63,750 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 638 638 Cumulative Convertible Series B Preferred Stock; $ 1,000 stated value; 7.5 % Cumulative dividend; 4,000

View Full Filing

View this 10-Q filing on SEC EDGAR