Business
TOMI Environmental Solutions, Inc. Reports Record Calendar Year 2020 Revenue Growth of 297% to $25 Million; Fourth Quarter Sales Grow 95% to $3.7 Million
FREDERICK, Md., March 30, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ:TOMZ), is a global company specializing in
About this update from Tomi Environmental Solutions, Inc.
[{"type":"text","content":"FREDERICK, Md., March 30, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ:TOMZ), is 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 results financial results for the calendar year 2020 which includes annual revenue growth of 297% and a 95% increase in fourth quarter sales. TOMI Chief Executive Officer, Dr. Halden Shane stated, “Our Company made tremendous progress in 2020, resulting in record annual revenues reaching $25 million and net income of $4.4 million. The COVID-19 pandemic elevated the way the world looks at disinfection protocols. This shift in thinking allowed us to expand our SteraMist brand, and to onboard a diverse group of customers from a wide range of verticals, significantly enhancing our customer base. TOMI’s customers are great referrals for the advancement of SteraMist technology in the marketplace and the promotion of TOMI as a company, particularly in the emergency services and long-term care facilities. “Our TOMI Service Network members continue to fight at the front lines assisting in the reopening of the economy by enabling businesses to maintain a new level of clean. Our Life Science division is seeing a return to normal for our current customers and the majority of our long-term projects with top tier pharmaceutical companies have resumed after being placed on hold due to COVID-19. As we move through 2021, we expect the launch of new products including the SteraBot, SteraBox, and SteraPack to drive continued growth and meet customer demand for more agile solutions. With these initiatives, the potential for 2021 performance is even stronger than what we achieved in 2020. We’re excited about the launch of these new products, which demonstrate the versatility of our superior technology and we believe our strengthened portfolio of offerings, coupled with our recently announced new sales executives, position us well to continue increasing our market share throughout 2021.” Financial Results for the year ended December 31, 2020 compared to December 31, 2019 Total net revenue was $25.0 million compared to $6.3 million, an increase of $18.7 million or 297%. SteraMist® equipment-based revenues were $16.9 million and $3.9 million respective...