Applied UV Announces Selected Preliminary Q2 2023 Financial Results; Sees Q2 Revenue ~$10.8M Vs $10.9M Est; Reiterated Its Previous Guidance Of ~$45M In Revenue For 2023 Vs $43.3M Est
Portfolio Pulse from Happy Mohamed
Applied UV, Inc. (NASDAQ:AUVI) has announced preliminary financial results for Q2 2023, with total revenues of approximately $10.8 million, an 83.6% increase over the same period in 2022. The company also reiterated its previous guidance of approximately $45 million in revenue for 2023. Gross profit grew to approximately $2.4 million, up 84.8% from the comparable period in 2022. Total cash and equivalents as of June 30, 2023 were $3.3 million.
August 14, 2023 | 12:34 pm
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POSITIVE IMPACT
Applied UV's Q2 2023 revenues and gross profit have significantly increased YoY, and the company has reiterated its 2023 revenue guidance of $45M. This could potentially boost investor confidence.
The significant YoY increase in Applied UV's Q2 2023 revenues and gross profit, along with the reiteration of its 2023 revenue guidance, indicates strong financial performance and positive future outlook. This could potentially boost the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100