Applied UV, Inc. (NASDAQ:AUVI) Q4 2022 Earnings Conference Call April 3, 2023 9:00 AM ET
Company Participants
Brett Maas - Hayden IR
Max Munn - Founder, CEO, President and Director
Brian Stern - President of Puro Lighting
Mike Riccio - CFO
Conference Call Participants
Chip Moore - EF Hutton
Operator
Greetings, and welcome to the Applied UV Fourth Quarter and Year End 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.
I will now turn the conference over to your host, Brett Maas of Hayden IR. You may begin.
Brett Maas
Thank you. Once again, welcome to Applied UV's 2022 earnings call. With me today on the call are Max Munn, Founder and CEO, President and Director; Mike Riccio, Chief Financial Officer; and Brian Stern, President of Puro Lighting.
As a reminder, all materials for today's live presentation are available on the company's Investor Relations website at applieduv.com. Sorry, let's say it again, applieduvinc.com.
Before we begin, 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 in certain assumptions and expectations on future events that are subject to risks and uncertainties. Our most recent Form 10-K lists some of the most important risk factors that could cause actual results to differ from our predictions.
With that, I will turn the call over to Max Munn. Max, the floor is yours.
Max Munn
Thank you, Brett, and good morning, everyone. My name is Max Munn, I'm the Founder of Applied UV. And I became the CEO about three weeks ago. As it was for most other companies, 2022 was a very challenging year. Our challenge arose from the acquisition of Scientific Air in late 2021. With disinfection products that were substantially focused on one distributor, Scientific Air was also focused on one industry, which was hospitals and with revenues totally driven by COVID-19. Consequently, sales collapsed for Scientific Air in 2022 as the pandemic receded. Unfortunately, our previous senior management's focus did not reposition the company to address this weakness at Scientific Air. Consequently, we recently determined that it was best to write down a substantial portion of our investment in Scientific Air and put this problem behind us.