TOMI Environmental Solutions Inc. (TOMZ) lost 7.46% in the aftermarket at $1.24 against its last close at $1.34 on November 26. During the normal trading session, the stock gained 15.52% at a volume of 3.62 million. Which was much more than the average 65-day volume of 240.63 thousand. Intraday trading the stock moved between $1.13 and $1.34, while in the 52-week range it varied between $1.1028 and $6.5000. Hence, the stock closed 79.4% below its 52-week high and 21.8% above its 52-week high on Friday. In the past week, the stock gained 8.94% while it lost 20.24% in the past three months. Further, the TOMZ stock is down by 70.68% year to date. Currently, the stock trades at a market capital of $26.37 million with 19.68 million outstanding shares.
The fall in the stock happened after it gained over 15% in the previous trading session, causing profit bookers to become active.
Founded in 1979, TOMI Environmental Solutions Inc. (TOMZ) provides disinfection and decontamination essentials under the brand name SteraMist.
Recent Developments
Recently, the company announced that it received EPA registration of its products for agricultural and food safety use. Following the news, the company also disclosed its third-quarter financials on November 12, 2021.
TOMZ’S EPA Registration
TOMI Environmental Solutions Inc. (TOMZ) announced the EPA Registration of its product SteraMist® BIT™ 0.35% on October 11, 2021. As per the announcement, the 0.35% hydrogen peroxide BIT Solution can now be used throughout the entire food chain. Further, SteraMist® BIT™ 0.35% is a hydrogen peroxide BIT Solution, used as an all-in-one disinfectant for agricultural use. Moreover, this new registration will allow the BIT Solution to be sold throughout the food industry. Including, pre-harvest, harvest, storage, packaging, transportation, and distribution.
Hence, this EPA registration has immensely expanded TOMZ’s addressable market and market opportunities.
TOMZ’s Financial Results
On November 12, TOMI Environmental Solutions Inc. (TOMZ) announced its financial results for the third quarter of 2021. As per the third quarter of 2021, the total net revenue was $2.2 million, against $4.3 million in Q3 2020. The third-quarter revenue increased 50% over the previous quarter’s revenue of $1.5 million.
Moreover, the net loss in the third quarter of 2021, was $0.5 million, compared to a net income of $1.0 million in Q3 of 2020. Consequently, the net loss per basic and diluted share for the quarter was $0.03, against net income per share of $0.06 in Q3 2020. While the net loss per basic and diluted share was $0.05 in the previous quarter of 2021.
