The following is a summary of the TOMI Environmental Solutions, Inc. (TOMZ) Q1 2024 Earnings Call Transcript:

Financial Performance:

• TOMI reported Q1 2024 revenue of $1.114 billion, a decrease compared to $1.582 million in the same period in 2023.

• The company's gross profit improved from 59.5% in Q1 2023 to 60.2% in Q1 2024.

• TOMI posted an increased consolidated operating loss of $1.226 billion compared to a $1.188 million loss in Q1 2023.

• As of March 31st, 2024, the company had $1.1 million in cash and cash equivalents, and the shareholder equity stood at $7.1 million.

Business Progress:

• They saw a 27% increase in total sales and backlog, demonstrating a growing interest in TOMI technology across multiple markets.

• Two studies showing their solution's efficiency against various virus types have been recognized by the Department of Homeland Security, which includes budget support worth $2 million.

• Financial stability is ensured through secured contracts, promising revenues from CES installations, and anticipated closing of more contracts.

• They are planning significant installations of SteraMist with revenue generation expected to start by end Q3 of 2024.

• They are developing a platform for tailored education to service network members and are in the early stages of marketing SteraMist Technology in the server farm industry.

• The aim is to establish a standard in the disinfection biohazard response industry with a commitment to continuous improvement and setting benchmarks with the SteraMist Pro certified program.

More details: TOMI Environmental Solutions IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.