Applied UV, Inc. (NASDAQ:AUVI) Q4 2022 Earnings Call Transcript

Chip Moore: Interesting. That’s helpful Max. And maybe if I could sneak one last one around sort of sales synergies from the recent deals. Like, I think you talked about MunnWorks getting some traction outside of the traditional hotel market view that relationship. Is that — have you see that synergy opportunity? And is that potentially additive to that outlook? Or is that contemplated that’s moving there?

Max Munn: It’s not in our numbers yet. You’re referring to the inclusion of Airocide into guest room furniture so that the hotel can sell a pure air room with the best science, is that what you’re referring to?

Chip Moore: Yes. Any synergies with that and also just the ones you’re seeing now in terms of pull through of MunnWorks as well into some of the newer channels?

Max Munn: Well, that’s an obvious one. The more near term and the one that we’ve already seen purchase orders for. LED Supply has received, as Brian Stern mentioned, the $4.5 million in orders for its systems included in that order is the first of at least four projects that Puro has paper on. The first one alone is for five that involves MunnWorks is for about just in excess of $500,000 million worth of our backlit hotel mirrors to the multifamily development that LED has purchased what it’s for. MunnWorks is currently not in the multifamily space. But recently, we’ve received almost $600,000 million order from the related companies, which is the largest real estate developer in the country for medicine cabinets, which we make — which we manufacture.

Electrified medicine cabinets that not only act as mirrors, but as lighting and, obviously, as medicine cabinets. And what LED is bringing to us is their extensive relationship with multifamily rental and multifamily condo developers that must supply a vanity and a medicine cabinet in every apartment, if not several. So we’re now seeing business coming from that direction, none of which existed prior to last quarter.

Chip Moore: That’s great. Okay. I appreciate all the color. I’ll take the rest of mine offline. Thanks.

Operator: Thank you. As there are no further questions in queue at this time, I will turn the call back over to management for any closing remarks.

Max Munn: Well, I think we’ve made our optimistic statements very clear. I want to thank everyone for supporting our company and we’re looking forward to a very successful 2023.

Operator: Thank you. This concludes today’s conference. And you may disconnect your lines at this time. And we thank you for your participation.