Applied UV, Inc. - AUVI STOCK NEWS

Applied UV, a company listed on NASDAQ under AUVI, has announced its participation in two significant conferences scheduled for May 2023. The first event is the Aegis Capital Virtual Conference from May 2-4, where management will present virtually on May 2 at 11:00 a.m. ET. The second event is the Inaugural EF Hutton Global Conference taking place on May 10-11 at The Plaza Hotel in New York City, featuring 1x1 meetings. Applied UV specializes in advanced pathogen elimination and disinfection technologies aimed at improving indoor air quality through its subsidiaries, SteriLumen and MunnWorks. The company offers a wide range of products, including LED lighting and luxury furnishings, serving various sectors globally. For inquiries, attendees can contact Brett Maas or Vince Curatola via provided email addresses.

Applied UV (AUVI) declared a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP). The dividend will be paid on May 15, 2023, to shareholders of record by May 4, 2023. This announcement follows the company's ongoing commitments to enhance indoor air quality and offers a range of patented pathogen elimination technologies alongside their LED lighting and luxury furnishings. Applied UV serves various sectors globally, including healthcare and hospitality, ensuring a strong market presence with numerous strategic partnerships. The company emphasizes its ongoing efforts to improve shareholder returns.

Applied UV, Inc. (NASDAQ: AUVI) released a shareholder letter detailing accomplishments in 2022 and a focus for 2023. The company acknowledged past missteps, particularly related to the acquisition of Scientific Air, and mentioned a substantial write-down. Despite challenges such as supply chain disruptions and geopolitical tensions, the company aims for accelerated growth, driven by an expected $9 billion UV disinfection market by 2027. Applied UV raised $34.6 million in equity and $10 million in non-dilutive debt, facilitating four acquisitions. With recent additions, it anticipates revenue between $45-50 million in FY 2023. The company emphasizes its commitment to improving indoor air quality and enhancing partnerships with Fortune 100 companies to drive sales.

Applied UV, Inc. has announced a renewed agreement with mfPHD, LLC for the installation of its PURONet UV Disinfection Control System in 16 operating rooms at The University of Texas, San Antonio. This state-of-the-art system aims to enhance pathogen elimination in hospital settings where cleanliness is critical. With proven efficacy against dangerous pathogens like C. auris, the system is expected to improve infection control and supports the ongoing investments in public health infrastructure in the U.S. The partnership is anticipated to increase installations across various healthcare facilities, aligning with the growing focus on infection prevention.

Applied UV, Inc. has appointed Eugene Burleson as Chairman of the Board, following the acquisition of Puro Lighting, LLC and LED Supply Co. Max Munn has been promoted to CEO and President. The management team now includes Brian Stern and Andrew Lawrence, co-founders of Puro. The company has established a Global Scientific Advisory Board featuring leaders in medicine and viticulture, including Dr. Bernard C. Camins and Dr. Christopher E. Mason. This strategic leadership shift aims to enhance the effectiveness of its pathogen elimination technologies and boost market penetration. The advisory board will contribute expertise in educating potential clients about Applied UV's air and surface disinfection solutions, supporting the company's commitment to improving indoor air quality across various sectors.

Applied UV (AUVI) reported a 73% increase in revenue, achieving $20.1 million for 2022 compared to $11.6 million in 2021. This growth was largely driven by its hospitality segment, which saw a 130% rise to $13.6 million due to strategic acquisitions and a rebound in hotel upgrades. The company completed the acquisition of Puro Lighting and LED Supply, effectively doubling its size. However, it faced a net loss of $16.6 million, attributed mainly to a non-cash impairment of goodwill/intangible assets and increased operational costs. Despite challenges, Applied UV anticipates revenue between $45 and $50 million in 2023.

Applied UV, Inc. (AUVI) has expanded its collaboration with Canon Financial Services to offer leasing options for its air and surface disinfection technologies. This partnership aims to enhance financial flexibility for Applied UV's clients, including its subsidiaries MunnWorks, LED Supply, SteriLumen, and PURO Lighting, which operate in the hospitality and healthcare sectors. The agreement reflects a strategic move to incorporate advanced cleaning solutions in daily operations, thereby increasing market share amid growing demand for improved indoor air quality. Company executives express optimism regarding this initiative's potential impact on sales and customer adoption.

Applied UV, Inc. (NASDAQ: AUVI) has authorized a cash dividend of $0.21875 per share to holders of its 10.5% Series A Cumulative Perpetual Preferred Stock (NASDAQ: AUVIP). This dividend will be paid on or about April 17, 2023, to shareholders recorded by the close of business on April 4, 2023. The company specializes in advanced disinfection technologies, LED lighting, and luxury furnishings, serving varied sectors including healthcare and hospitality. Their strategic partnerships enhance product offerings across a global market. This dividend reflects the company's commitment to return capital to shareholders.

Applied UV, Inc. (AUVI) announced that the CDC has warned about the rapid spread of Candida auris in U.S. healthcare facilities, a significant health threat with a mortality rate of 30-60% for bloodstream infections. The company’s Sterilumen devices have been independently tested and proven to kill C. auris on surfaces in just 15 minutes. Their product, the Airocide® Air Purification System, is also effective against multi-drug resistant pathogens. Additionally, the LumiCide Surface and Drain Disinfection Systems are currently being trialed at the prestigious Mount Sinai Medical Center, with results expected in Q3 2023.