Applied UV (AUVI) Reports Select Q2 Data

Applied UV, Inc. (NASDAQ: AUVI), a leader in global food security, air quality, and specialty building solutions today announced preliminary financial results for the for second quarter of 2023 and reiterated its previous guidance of approximately $45 million in revenue for 2023.

Preliminary Q2 2023 Results

Applied UV expects total revenues for the second quarter of 2023 to be approximately $10.8 million, representing an 83.6% increase when compared to revenues of $5.9 million in the second quarter 2022. Total revenues for the first half of 2023 are approximately $21.5 million, representing a 132.1% increase over revenues of $9.3 million for the comparable period in 2022. Gross profit grew to approximately $2.4 million, up 84.8% from $1.3 million in the comparable period in 2022.

Total cash and equivalents as of June 30, 2023 were $3.3 million, compared to $2.7 million as of June 30, 2022.

“We delivered a solid second quarter revenue and gross profit performance, underpinned by the strength in both of our business segments,” said Max Munn, CEO of Applied UV. “Our second quarter results demonstrated a good balance of topline performance and a significant reduction in net loss from the first quarter of 2023. Applied UV has excellent products and position driving large and growing markets and we remain focused on sustainable, profitable growth.”

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