Record Year for Custom Engineered Systems
TOMI successfully maintained an expanding pipeline for custom engineered systems, with eight deals valued at approximately $3.7 million. There are discussions regarding 46 different projects, with 12 being very active and anticipated to close five deals in 2025, yielding around $1.4 million.
Launch of SteraMist Integrated System
The SteraMist Integrated System was launched in October 2024. The pipeline of opportunities for this product has grown to over $1 million, with contracts for three additional SIS offerings totaling approximately $575,000 in sales.
Expansion and Partnerships
TOMI signed six additional partners across various regions, including Malaysia, India, Italy, Canada, South Korea, and the UK. Notably, their Malaysian partner standardized treatments using iHP technology in biosafety Level 3 rooms.
Positive Trends in BIT Solution Sales
BIT Solution sales demonstrated a 200% increase year-to-date compared to the same period last year, indicating strong organic growth.
Growth in iHP Corporate Service
iHP Corporate Service saw a 42% increase in Q1 2025 compared to the same period last year, indicating strong performance and retention of long-term clients.
Financial Performance
GAAP revenue rose to $7.739 million in 2024, up from $7.355 million in 2023. Non-GAAP revenue was approximately $8 million, reflecting a nearly 6% increase over 2023.