- TOMI Environmental Solutions Inc TOMZ reported a third-quarter net sales decline of 48.6% year-over-year to $2.2 million and grew 50% sequentially.
- EPS loss was $(0.03) versus $0.05 in 3Q20.
- The gross margin contracted by 640 bps to 59.6% due to the product mix in sales.
- The operating loss was $(0.5) million, compared to an operating income of $1.1 million a year ago.
- Adjusted EBITDA loss was $(0.416) million versus $1.28 million in 3Q20.
- TOMI Environmental had cash and equivalents of ~$5.7 million.
- "As we move toward the end of 2021, we are confident that Q4 will demonstrate sequential growth, and we are encouraged by the outlook for 2022," commented TOMI CEO Halden Shane.
- Price Action: TOMZ shares are trading higher by 6.36% at $1.34 on the last check Friday.
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