Applied UV Announces Restructuring on the Heels of Last Week’s Full Q2 FY23 Results

Applied UV
Applied UV
A week after reporting ongoing losses for Q2 FY2023, Applied UV (NASDAQ:AUVI) announced an organizational restructuring plan to improve operational performance.  The Company expects these steps to position Applied UV for long-term growth “while establishing a clear path to consist profitability and sustainable free cash flow.”  
The newly-announced operational restructuring includes the following initiatives: 
  • Reduction in duplicate headcount to realize cost synergies in integrating Puro Lighting and LED Supply Co. 
  • Integration of Airocide and Puro sales teams and reporting software 
  • Price increases across select Airocide and Munnworks products 
  • Transfer of most all manufacturing of SteriLumen disinfection-related product to Canon Virginia 
  • Transition future R&D to Canon, Virginia  
CEO Max Munn noted that Applied UV’s current market capitalization is not reflective of their achievements, and that a higher valuation will be driven by the combination of these efforts, along with revenue guidance of $45M for FY2023.