Business
TOMI Announces Preliminary Second Quarter Revenue Growth of 90%
FREDERICK, Md., July 24, 2023 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection
About this update from Tomi Environmental Solutions, Inc.
[{"type":"text","content":"FREDERICK, Md., July 24, 2023 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced preliminary unaudited revenue for its second quarter ended June 30, 2023. Revenue is expected to be approximately $2.8 million, an increase of an estimated $1.3 million, or 90%, as compared to the revenue for the same quarterly period in 2022. The preliminary revenue represents an increase of $1.2 million, or 75%, as compared to the revenue for the three months ended March 31, 2023. Dr. Halden Shane, TOMI Chief Executive Officer states, “We anticipate improved financial results in the second quarter led by strong growth in our product and service revenues. We believe that this improved result is a reflection of our successful strategy to expand and grow our sales channels and customer base.” The preliminary financial results for the quarter ended June 30, 2023, are unaudited, reflect our estimated financial results and are based on information available to management as of the date of this release and are subject to potential further material changes upon completion of the Company’s standard quarter-end closing procedures. In preparing this information, management made certain judgments and estimates about the appropriateness of certain reported amounts and disclosures. Our actual financial results for the three months ended June 30, 2023, have not yet been finalized by management and remain subject to the completion of management’s final review and our other closing procedures, as well as the completion of the review of our financial statement by our independent auditors. These preliminary estimated results do not represent a comprehensive statement of all financial results for the three and six months ended June 30, 2023. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial conditions and results of operations for the period, including the impact of such information on our judgments and estimates referred to above. 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 d...