Applied Uv Inc Stock Price, News & Analysis

Applied UV, Inc. (NASDAQ:AUVI) is set to double its size through the strategic acquisition of PURO Lighting, LLC and LED Supply Co., with a combined deal value of approximately $20 million, effective December 19, 2022. These acquisitions are expected to enhance distribution of FDA-cleared disinfection products, aiming for an estimated $18 million in additional revenue within 12 months. The company anticipates generating $45-$50 million in revenues for FY 2023, supported by potential cost synergies that could improve profitability.

Applied UV, Inc. (NASDAQ: AUVI) has signed a strategic manufacturing agreement with Canon Virginia, Inc. (CVI) to enhance its air purification product line. This partnership positions CVI as the primary manufacturer and logistical authority, leveraging its advanced production capabilities. The collaboration aims to achieve significant cost savings, accelerate product development, and streamline manufacturing processes, addressing past supply chain disruptions. This agreement is anticipated to positively impact the company’s operational efficiency and market readiness for its advanced air purification solutions.

Applied UV, Inc. (NASDAQ: AUVI) announced a $4.5 million order through its subsidiary MunnWorks to supply luxury furnishings to three major U.S. hotels and condos. This agreement, facilitated by McCloskey Purchasing Group, includes a range of products such as tables, bed frames, and back-lit mirrors, all to be manufactured at MunnWorks' Brooklyn, NY facility. The deal reflects the growing demand for domestic supply chains amid a projected $716.8 billion in travel revenues this year, indicating a recovery in the hospitality sector.

Applied UV, Inc. (AUVI) announced a secured revolving credit facility of $5 million on December 8, 2022. This facility will support the company’s growth initiatives and has no existing balance. President Max Munn stated that the firm has increased capital availability by $7.5 million recently, enhancing liquidity to meet growing product demand in the hospitality sector. The company focuses on pathogen elimination technologies and has established a strong customer base including major healthcare and commercial organizations.

MOUNT VERNON, N.Y. -- Applied UV, Inc. (AUVI) announces a 40% Winter Sale on its leading air purification system, Airoclean™ 420, aimed at supporting the $33 billion North American cannabis market. The sale runs until January 31, 2023 and applies to models like Airoclean 420 MAX and Airoclean 420 Home. The Airoclean technology effectively eliminates airborne pathogens, including powdery mildew, while ensuring a safe environment free of harmful emissions. This promotion aims to enhance crop yield for cannabis growers, enabling them to maximize profits during this period.

Applied UV, Inc. (NASDAQ: AUVI) has declared a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (NASDAQ: AUVIP). This dividend will be paid around December 15, 2022, to shareholders on record as of December 2, 2022. The Company focuses on pathogen elimination technologies, integrating ultraviolet light and catalytic bioconversion, primarily serving healthcare, hospitality, and commercial markets.

Applied UV (AUVI) reported a 65% increase in net sales, reaching $5.9 million for Q3 2022, primarily driven by the Hospitality segment. Despite the revenue growth, gross profit fell by 20.2% to $839,000, attributed to lower margins from higher sales in the Hospitality sector. The company incurred a net loss of $2.7 million, up from $1.1 million a year earlier, reflecting increased SG&A expenses. Applied UV is optimistic about future growth opportunities and expects to close on a $5 million credit line in November.

Applied UV Inc. (AUVI) will host an investor conference call and live webcast on November 15, 2022, at 9:00 am ET, to discuss its third quarter 2022 financial results, which will be released after market close on November 14. Investors can access the webcast through the company’s website. Applied UV specializes in pathogen elimination using UVC light for surfaces and air purification technology to enhance infection control in various sectors including healthcare and hospitality. For more information, visit applieduvinc.com.

Applied UV, Inc. announced $7.5 million in debt financing to support business growth, including production expansion at its Brooklyn facility. The financing comprises a $2.5 million redeemable note and a $5 million non-dilutive asset-based line of credit, pending final documentation. The company aims to streamline manufacturing and enhance disinfection solutions amid rising demand. CEO Max Munn highlighted the focus on domestic production to mitigate supply chain issues, with a strategic partnership expected with a Fortune 100 company to enhance its product offerings.