Applied UV, Inc. AUVI shares are tumbling on Tuesday. The company said that the recent strategic investments in LED Supply Co. will yield substantial sales in 2024, with the division poised to contribute $10 million in sales.
With approximately $3 million of this $10 million in orders already received, it is expected that this division will assist in driving AUVI toward positive cash flow. These orders constitute a fraction of AUVI’s expected revenues for 2024.
Additionally, AUVI anticipates that 2024 will mark a pivotal moment in its financial evolution.
Max Munn, CEO of Applied UV said, “Our acquisitions in the Smart Building Technologies Division are starting to pay dividends.”
On January 12, the company said it would launch its groundbreaking Fighter Flex LED solution at the upcoming AHR Expo on January 22.
This disruptive technology is set to redefine energy efficiency in heating, ventilation, and air conditioning (HVAC) systems across the industry.
Last month, AUVI announced a collaboration with Silver Cross Hospital in New Lenox, Illinois, to implement Far-UVC Puro Protect 222nm fixtures in the hospital’s Sterile Processing Department.
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Price Action: AUVI shares are trading lower by 16.60% to $3.17 on the last check Tuesday.
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