Aug 14, 2026 earnings call — SteraMist growth, backlog expansion and merger plans
Q2 revenue was $2.25 million, a 118% year-over-year increase, and management reaffirmed full year 2026 revenue guidance of at least $12 million.
Revenue $0.0B (est $0.0B) · EPS $-0.05 (est $-0.11)
Key quotes
"At the end of last year, TOMI reported a backlog of $1.6 million that grew to $1.7 million by year-end of this year's first quarter, then $2.2 million by the end of the second quarter and currently stands at $2.6 million."
"Achieving 510(k) clearance would authorize the marketing of our technology for specific medical device applications in the United States, significantly expanding our addressable market, enhancing regulatory credibility and opening new commercial opportunities in the health care and life science sector."
"Furthermore, our agreement and plan of merger executed on June 29, 2026, with Carbonium Core includes a $10 million minimum concurrent financing condition prior to closing, which we expect will transform the combined company's balance sheet and growth trajectory."
Analyst Q&A 2
AgriMist inclusion, FDA study timeline, Carbonium status
Q (Amit Dayal · H.C. Wainwright): Is AgriMist already counted in TOMI's pipeline or will it add when commercialized? What are the next milestones and timeline for the medical-device clearance? What is the diligence status and near-term revenue potential of the Carbonium deal?
A: Management said AgriMist will add to the pipeline and is not yet included in what they have discussed. For the medical device, they must run studies with a customer: create protocols, conduct the studies, then report results to the FDA, so timing will take some time and Elissa expects to know more next quarter. On Carbonium, they said there are two completion levels: NASDAQ listing compliance (they noted share price and shareholder equity provided notes convert) and raising $10 million; Carbonium is finalizing contracts and a prototype that should produce graphite to create revenue, but exact timing is unknown.
"Once that occurs, the prototype will produce, I believe, enough graphite to create revenue." — Halden Shane (CEO·CHAIR)
SteraMist uses, AgriMist labeling, profitability, fees
Q (John Nelson): How could SteraMist be used in biodefense and FEMA/ disaster response? Have tariffs affected TOMI? What is the hybrid system and who supplies applicators? Is EPA registration enough for AgriMist on produce or is FDA needed? Any naval or Africa/Ebola use? Progress on ethylene oxide replacement and 510(k)? Timeline to breakeven and will consulting fees continue?
A: They said SteraMist can be used for decontaminating large equipment, including via drones equipped with their units for aerial and close-up work. FEMA and Department of Health entities already own their equipment, and FEMA has been a long-term customer though some uses can’t be disclosed; Elissa explained the hybrid system mixes mobile foggers and permanent applicators and applicators are now assembled in-house. Management said they are not aware of any tariffs being paid now. For AgriMist, the EPA -4 label plus an FDA letter allow use on food-contact surfaces and facilities can follow either agency’s guidance. On other markets, they noted past Ebola work and that 510(k) data from studies will help open ethylene oxide replacement opportunities. The CFO said they plan to hit $12 million revenue this year and expect to reach breakeven by Q4, and the large professional fees this quarter (close to $300,000) were largely due to the Carbonium merger and should drop after the deal.
"So the hybrid system, John, is a mix of our mobile fogger and permanent applicators." — Elissa Shane (CEO·CHAIR)