Applied Uv Inc Stock Price, News & Analysis

Applied UV, Inc. (NasdaqCM: AUVI) reported its Q1 2022 financial results, highlighting a 45.1% increase in net sales to $3,356,090, driven largely by its Disinfection segment. However, gross profit as a percentage of sales decreased to 34.2% due to rising costs and customer mix. Operating expenses surged to $3,101,226, primarily from expanding the Disinfection segment through acquisitions. The company recorded a net loss of $1,649,872, up from a loss of $1,032,951 a year earlier. The financial report reflects ongoing investments amidst challenges in the Hospitality segment.

Applied UV, Inc. (NASDAQ: AUVI) has announced the appointment of Monica Woo to its Board of Directors to support its global market expansion in pathogen elimination technology. Woo brings extensive experience from Fortune 100 companies, notably her past role as President of 1-800-Flowers. Her strategic insights are expected to enhance the company's growth, particularly in the air purification sector. CEO John Andrews emphasized Woo's valuable contributions to recent marketing initiatives, showcasing confidence in her ability to elevate the company's position in the industry.

Applied UV, Inc. (AUVI) will host an investor conference call on May 24, 2022, at 9:00 am ET, to discuss its first-quarter financial results. The results will be released on May 23, 2022, after market close. Investors can access the live webcast via the company’s website. Applied UV specializes in pathogen elimination technology, utilizing UVC light for disinfection in healthcare and hospitality settings. The company's Lumicide and Airocide products target high-traffic areas, enhancing safety by eliminating pathogens effectively.

Applied UV, Inc. (AUVI) has announced that its subsidiary, Sterilumen, will provide air purification solutions under a multi-million dollar contract with DA International for non-public schools in Washington State. This initiative is part of the US government's $3.5B Emergency Assistance for Non-Public Schools (EANS II) program, aimed at addressing educational disruptions during the pandemic. The Airocide™ air purification suite, recognized for its efficacy and safety, is expected to enhance air quality in approximately 700 schools.

Applied UV, Inc. (NASDAQ: AUVI) announced a significant development involving its subsidiary MunnWorks, which has secured a model room order from The Renaissance Cleveland Hotel. This order, funded by the hotel developer, could lead to a follow-up order of $2M upon successful product approval. The furniture will be manufactured in MunnWorks’ BROOKLYN, NY facility, enhancing domestic production and addressing supply chain issues linked to imports from China. The partnership aims to bolster MunnWorks’ position in the luxury hospitality market.

Applied UV, Inc. (AUVI) announced a new marketing campaign targeting the $20B North American cannabis market in recognition of World Cannabis Day. Its subsidiary, Sterilumen, launched this initiative alongside a redesigned website for Airoclean420, aimed at educating cannabis growers about air quality. The campaign will include leads-generation ads and participation in the Cannabis Conference in Las Vegas on August 23-25, 2022. CEO John F. Andrews emphasized the importance of air purification for maximizing cannabis yields and mitigating pathogen risks.

Applied UV, Inc. (AUVI) has announced a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP). This return of capital is scheduled for payment on May 16, 2022, to shareholders on record as of the close of business on May 4, 2022. The company specializes in pathogen elimination technology using UVC light and bioconversion methods for air purification, targeting markets such as healthcare and hospitality.

Applied UV, Inc. (AUVI) has appointed John F. Andrews as the new Chief Executive Officer and Board member. With over 30 years of experience, Andrews has a strong background in leading companies to strategic exits and raising capital. Chairman Joel Kanter expressed optimism about Andrews' leadership in advancing the firm's growth in the air purification sector, aided by favorable government initiatives. Applied UV focuses on pathogen elimination technologies and aims to leverage its products to meet growing market demands.

Applied UV, Inc. (AUVI), a leader in pathogen elimination technology, shares a shareholder letter reflecting on its 2021 achievements and outlining objectives for 2022. Key milestones include a $5.8 million IPO, $7.3 million follow-on offering, and successful acquisitions, enhancing its pathogen disinfection platforms. The global air purifier market is projected to grow from $9.24 billion in 2021 to $22.84 billion by 2030. The company's products are utilized by notable clients, including Walmart and healthcare organizations. They emphasize ongoing expansion and innovation in air quality improvement.