Applied UV Announces Selected Preliminary Q3 2023 Financial Results; Sees Q3 Revenue ~$11.4M Vs $10.84M Est.; Gross Profit Grew To ~$2.7M
Portfolio Pulse from Benzinga Newsdesk
Applied UV, Inc. (NASDAQ:AUVI) reported preliminary Q3 2023 financial results with revenues of approximately $11.4 million, a 94.8% increase over the same period in 2022. Gross profit rose to about $2.7 million, up 216.6% from the previous year. The company expects an operating loss of $2.4 million and a net loss of $2.6 million for Q3 2023, slightly improved from Q3 2022. Adjusted EBITDA loss is estimated at $1.5 million for the quarter. The company reiterated its 2023 revenue guidance of $45 million and aims to be cash flow neutral in the latter half of 2024.
November 13, 2023 | 8:08 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Applied UV announced a significant increase in Q3 2023 revenue and gross profit, with a slight improvement in operating and net losses. The company remains confident in its strategy and expects to be cash flow neutral in H2 2024.
The positive growth in revenue and gross profit, along with the company's confidence in its strategic plan and future cash flow neutrality, are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on AUVI's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100