Home Equities Score TOMI Environmental Solutions Inc. (TOMZ) stock surged in the after hours trading...

TOMI Environmental Solutions Inc. (TOMZ) stock surged in the after hours trading session; here’s why

In the aftermarket trading session, TOMI Environmental Solutions Inc. (TOMZ) stock had surged by 9.54% to trade at $2.87. TOMZ stock closed previously at $2.62. The TOMZ stock volume traded 49390.0 shares. In the past year, up-to-date TOMZ stock shed -69.68% and in the past week jumped up by 4.80%.

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Here’s all you need to know about TOMI

TOMI Environmental Solutions, Inc. is a pollution and treatment control company that specifically focuses on giving sterilization and cleaning products and services for indoor and outside spaces, and air purification in the United States and globally.

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The organization’s product offering incorporates SteraMist Surface Unit, a point and splash sterilization/cleaning framework; SteraMist Environment System, a framework that gives room sanitization/purification of a fixed space up to 103.8 m3; and The SteraMist Hospital Disinfection Cart, a solution for medical clinic medical care clients in giving the nature of care and security to their patients by sanitizing patient and working rooms, drug stores, ambulances, and crisis conditions in a clinic or medical care office. Its items and services additionally involve SteraMist Select Surface Unit; Stainless Steel 90-Degree Applicator; SteraMist Permanent iHP Complete Disinfection Room, a computerized framework that is plumbed using the offices’ current HVAC framework; and iHP Plasma Decontamination Chamber. Also, the organization offers full room, gear, office, and crisis sanitization/cleaning administrations. It fabricates, sells, administrations, and licenses SteraMist Binary Ionization Technology, a hydrogen peroxide-based fog, and mist.

The organization’s product offerings are marketed for clients that are drug organizations, cleaning services, hospitals, and clinics, ambulances, bio-wellbeing labs, tissue labs, vivarium, research colleges, military, and government offices, places of business, schools, athletic offices, single-family homes, and multi-unit homes, journey boats, schools, and diversion foundations; patient clinical vehicle carrier, accommodation, transportation ventures; and cannabis market. TOMI Environmental Solutions, Inc. was founded in 1979 and is settled in Beverly Hills, California.

What are TOMZ stock’s recent financial and operational updates?

TOMI Environmental Solutions, Inc. reported a drastic uplift to its balance sheet in between the first wave and second wave of the COVID-19 pandemic in the start of 2020. This is because the pandemic had created a surge in the demand for sanitization and disinfectants across the globe to prevent the contagion of the virus. This caused the company’s product offerings to induce a large demand specifically for its disinfection and decontamination solutions however the company could not maintain the surge of this demand in the first quarter of 2021. The restrictions placed due to pandemic towards face-to-face and physical interactions have suspended the company’s in-person demos and custom-engineered-systems (CES) as well.

Plans for future

TOMZ stock has been strategizing in the meanwhile, on internal operations and sales-force growth; which resulted in the development of three new products which will be launched soon in the market. The sales-force growth also incorporated 2 vice presidents in the Sales department to oversee sales effort across the commercial healthcare division. Furthermore, TOMI is looking forward to developing and testing its new product SteraMist, and participate in the conferences that will take place in the second half of 2021.

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Balance sheet and financial report of TOMZ stock

When looking into the financial report specifically for Q1 2021, we see that the net revenue has slumped 70% to $2.1 million compared to Q1 2020. The cash and cash equivalents at the end of 31st March 2021 were $3.9 million compared to $5.2 million in Q4 2020. Shareholder’s equity saw a decrease of $1.3 million to $11.9 million in 31st December 2020.

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