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Orkin for microbial threats.

Ecolab for advanced, whole-room disinfection.

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• SteraMist® Decontamination Systems: A range of portable, room, and custom-installed devices that utilize Binary Ionization Technology (BIT) to produce ionized Hydrogen Peroxide (iHP) for rapid and effective surface and air disinfection and decontamination.
• SteraMist® BIT Solution: The proprietary, EPA-registered liquid solution (a hydrogen peroxide-based formula) that is used exclusively with SteraMist systems to generate the iHP fog for biological decontamination.
• Professional Decontamination Services: Providing expert, on-demand decontamination services to clients across various sectors (healthcare, pharmaceutical, commercial, public safety) using their SteraMist technology and trained personnel.

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TOMI Environmental Solutions (TOMZ) sells primarily to other companies (B2B) across various industries. According to the company's annual report (10-K) for the year ended December 31, 2023, no single customer accounted for more than 10% of the company's total revenues. This indicates that TOMZ has a diversified customer base and does not have individual "major customers" in terms of revenue concentration that would typically be disclosed by name.

Instead, TOMZ serves a broad range of businesses and institutions that require advanced disinfection and decontamination solutions using its SteraMist technology. The primary categories of customers it serves include:

• Healthcare & Life Sciences: This category includes hospitals, clinics, long-term care facilities, urgent care centers, compounding pharmacies, research laboratories, and pharmaceutical manufacturing facilities. These customers utilize SteraMist for critical pathogen control in patient care areas, sterile environments, and research settings.
• Commercial & Industrial: This category encompasses a wide array of businesses such as hotels, cruise ships, schools, universities, office buildings, data centers, food processing plants, agriculture facilities, and transportation hubs (e.g., airports, airlines, public transit). These clients focus on maintaining healthy environments for employees and the public, as well as ensuring product safety and operational continuity.
• Government & Biodefense: This category includes various governmental entities, military branches, first responders (e.g., hazmat teams, fire departments), and public health agencies. These customers often require high-level disinfection for emergency preparedness, biodefense applications, and rapid response to biological threats or contamination events.

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• Sanmina Corporation (SMFL)

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Dr. Halden S. Shane, Chief Executive Officer & Chairman

Dr. Shane has served as the Chief Executive Officer and Chairman of the Board of TOMI Environmental Solutions, Inc. since the company's inception.

David Vanston, Chief Financial Officer

Mr. Vanston was appointed Chief Financial Officer of TOMI Environmental Solutions, Inc. effective May 30, 2025. He brings over 25 years of international financial and operational leadership experience across the life sciences, manufacturing, and technology sectors. Mr. Vanston has held senior finance roles at both private equity-backed and publicly traded companies, including CFO positions at Jon-Don LLC, Flexan, Arcmed-Diba Industries, and VolitionRx. Jon-Don LLC is noted as a portfolio company of Incline Partners, indicating a pattern of managing companies backed by private equity firms. He holds an MBA from Warwick University and is a Fellow of the Chartered Certified Accountants in the UK.

Elissa J. Shane, Chief Operating Officer & Director

Ms. Shane has served as the Chief Operating Officer and a Director of TOMI Environmental Solutions, Inc. since August 2, 2021. She began her career with the company in August 2015 as the Chief Regulatory and Compliance Officer. Prior to her current role, she also served as Secretary of the company from January 2016 to December 2017 and as Operations and Compliance Officer from December 2016 to December 2017. Before joining TOMI, Ms. Shane worked as a paralegal with Levi Lubarsky Feigenbaum & Weiss LLP, where she managed litigation cycle operations.

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The key risks to TOMI Environmental Solutions (symbol: TOMZ) are:

1. Financial Instability and Going Concern Doubt: TOMI Environmental Solutions has a history of losses, reporting net losses of approximately $4.5 million and $3.4 million for the years ended December 31, 2024, and 2023, respectively. The company's operating and net margins are deeply negative, at -94.16% and -91.4% respectively, highlighting its struggle to achieve profitability. Furthermore, the company faces substantial doubt about its ability to continue as a going concern, and its Altman Z-Score of -8.98 suggests a high risk of bankruptcy within the next two years. The company also has a high debt-to-equity ratio of 1.56, indicating a high level of leverage.
2. Heavy Reliance on SteraMist® Product Line and Intense Competition: The company relies heavily on its SteraMist® product line, which generates the majority of its revenue. This dependency poses a significant risk if the product fails to maintain its competitive edge or if new, more effective technologies emerge. The disinfection and decontamination industry is intensely competitive, and TOMI's agreements with restoration industry specialists are non-exclusive, allowing competitors to sell similar products to the same customers. This exposes TOMI to competitive price pressures and uncertainty in future sales.
3. Stock Price Volatility, Potential Delisting, and Shareholder Dilution: TOMI faces risks associated with its stock price volatility and the potential for delisting from NASDAQ if it fails to meet minimum bid price requirements. Additionally, the company has a substantial number of outstanding options, warrants, and convertible securities, which could lead to significant dilution of ownership for existing shareholders if exercised. The company recently filed a $50 million universal shelf registration statement and established an equity line of credit of up to $20 million, which could further contribute to dilution.

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TOMI Environmental Solutions, Inc. (symbol: TOMZ) primarily operates within the bio-decontamination and hospital-acquired infection (HAI) control markets with its SteraMist disinfection and decontamination solutions. The company's Binary Ionization Technology (BIT) platform, utilized in its SteraMist products, addresses a wide array of sectors, including healthcare, life sciences, pharmaceutical facilities, commercial buildings, food safety, and animal research.

The addressable markets for TOMI Environmental Solutions' main products and services are sized as follows:

Bio-Decontamination Market

• Global: The global bio-decontamination market was estimated at approximately USD 222.96 million in 2023. It is projected to grow to about USD 396.49 million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 8.62% from 2024 to 2030. Other estimates place the market at USD 229.5 million in 2023, anticipated to reach USD 475.5 million by 2032 with an 8.5% CAGR between 2024 and 2032.
• North America: North America held a significant share of the bio-decontamination market, accounting for 34.69% in 2024, with a market value of USD 73.5 million.

Hospital-Acquired Infection (HAI) Control Market

• Global: The global hospital-acquired infection control market was valued at USD 38.51 billion in 2024 and is expected to reach USD 81.94 billion by 2032, with a CAGR of 9.90%. Another analysis estimated the market at USD 21.10 billion in 2024, with projections to reach USD 40.74 billion by 2034, at a CAGR of approximately 6.8% between 2025 and 2034.
• North America: North America is a dominant region in the HAI control market, holding a 48.82% share in 2024.

TOMI's SteraMist technology, which uses ionized hydrogen peroxide, aligns with the hydrogen peroxide segment of the bio-decontamination market. This segment held 51.18% of the bio-decontamination market share in 2024 and is forecast to expand.

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Expected Drivers of Future Revenue Growth for TOMI Environmental Solutions (TOMZ)

• Expanding Service Offerings: The company expects continued growth from its service-based revenues, including iHP corporate services, validation support, and newly introduced service offerings that complement its capital equipment sales. This growth is driven by increased demand from both existing and new life science customers. For instance, service revenue in Q2 2025 grew by 33% year-over-year, and by 46% over the first six months, largely due to demand from life science clients. Additionally, Q1 2025 saw a 56% increase in service revenues.
• Increased Demand for SteraMist Products: TOMI foresees revenue growth from its core SteraMist product lines, including Binary Ionization Technology (BIT) Solution sales, SteraMist mobile equipment, the SteraMist Integrated System (SIS), Custom Engineered Systems (CES), and the SteraMist Hybrid solution. The market is showing increased acceptance of TOMI's proprietary technology and a rising demand for tailored disinfection solutions across various industries. BIT Solution sales are projected to increase by approximately 31% year-over-year in Q2 2024, and product-based revenues in Q1 2025 grew by 35%, driven partly by BIT Solution mobile systems.
• International Expansion and Strategic Partnerships: Broadening its global footprint through strategic market entry and new partnerships is a significant growth driver. International sales are projected to grow substantially, as evidenced by an anticipated 230% increase in Q3 2024 over Q3 2023. TOMI has successfully entered new markets like India and expanded partnerships across Malaysia, Canada, South Korea, and the UK, which are crucial for diversifying revenue streams.
• Penetration into Diverse End Markets: The company is strategically expanding its presence in various sectors beyond traditional applications. Key growth areas include the life sciences, food safety, healthcare, medical device disinfection, and animal research markets. New customer acquisitions, such as a major eye health leader, demonstrate the growing demand for TOMI's validated disinfection solutions across multiple facilities. The company's participation in events like the AALAS National Meeting aims to expand its market presence within animal research environments.

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Share Issuance

• Between December 31, 2022, and August 12, 2025, the number of common shares outstanding for TOMI Environmental Solutions increased from 16,761,513 to 20,075,205.
• In 2022, an option to purchase 57,500 shares of common stock was issued to the Chief Operating Officer at an exercise price of $1.12 per share, with a valuation of $59,427.
• As of June 30, 2025, the company had significant convertible debt and potentially dilutive securities totaling approximately 5.9 million shares.

Inbound Investments

• As of June 30, 2025, the principal amount of convertible notes totaled $3.035 million (net $2,781,730).
• The company received additional proceeds from convertible notes as a subsequent event after June 30, 2025.
• Securities Purchase Agreements and Registration Rights Agreements associated with purchasers of convertible notes were noted in November 2023.

Capital Expenditures

• TOMI Environmental Solutions anticipates that its existing cash and cash equivalents, along with expected operational funds, will sufficiently cover its capital expenditures for the upcoming twelve months.