Applied UV, Inc. (NASDAQ:AUVI) Q2 2023 Earnings Conference Call August 21, 2023 9:00 AM ET

Company Participants

John McNamara - Investor Relations, TraDigital IR

Max Munn - Founder, Chief Executive Officer, President and Director

Brian Stern - President of PURO Lighting

Mike Riccio - Chief Financial Officer

Operator

Good day. I would like to welcome everyone to the Q2 2023 Applied UV Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, John McNamara, Investor Relations for TraDigital IR. Thank you. You may begin.

John McNamara

Thank you. Good morning, everyone, and once again, welcome to Applied UV's Q2 2023 earnings call.

With me on the call this morning today are Max Munn, Founder, CEO, President and Director; and Mike Riccio, Chief Financial Officer.

As a reminder, raw materials for today's presentation are available on the company's Investor Relations website at applieduvinc.com.

Before we begin, as usual, please take a moment to read the forward-looking statements in our earnings press release. During today's call, we will make certain predictive statements that reflect our current views about future performance and financial results. We base these statements on certain assumptions and expectations on future events that are subject to risks and uncertainties. In our most recent Form 10-K, you'll find some of the most important risk factors that could cause actual results to differ from our predictions.

With that, I'll turn the call over to Max Munn. Go ahead, Max.

Max Munn

Thanks, John. Good morning, everyone, and thanks for joining us today.

In addition to reviewing the highlights from the second quarter of 2023, we'll spend some time discussing our strategic roadmap, the progress we are achieving across multiple business lines and the outlook for the second half.

I'm pleased to report another strong execution quarter for our business, posting second quarter revenue of $10.8 million, up 83.6% from the comparable period of 2022. Our Hospitality segment grew 23.5% and our Disinfection and Healthy Buildings Technology segment grew 227.6%. We continue to benefit from strong underlying trends in our Healthy Buildings Technologies segment and from our Hospitality segment.

Moving on to our backlog. We're pleased to report a record backlog of approximately $20 million as of today, an increase of 279% year-over-year. The increase in our Hospitality segment is particularly noteworthy, representing over 59% of our total current backlog. This is a testament to the remarkable work of our employees and an indication of the momentum in our business as we look to the remainder of 2023 and into 2024.