(NASDAQ: SKYX) Record Quarter US$25mm Rev SKYX Reports Another Record Quarter with Revenue of $25 Million in Q-4 Demonstrating 8 Consecutive Quarters of Year Over Year Growth with Annual Record Revenue of $92 Million in 2025 Compared to $86 Million in 2024 as it Continues to Grow its Market Penetration
Gross Profit Increased to $28 Million in 2025 Compared to $25 Million in 2024, Representing a $3 Million (13%) Increase in Gross Profit
Operating Cash Used in 2025 Amounted to $13 Million Compared to $18 Million in 2024, Representing a $5 Million (27%) Reduction in Cash Used in Operating Activities
SKYX Raised $29 Million in Q1 2026 Investments from Fundamental Institutions
SKYX Announced Collaboration with NVIDIA AI Ecosystem Connect Program, Expecting to Grow Its Collaboration with NVIDIA into Future Smart Home Projects
SKYX Announced Launch of Its Advanced SKYFAN and Turbo Heater on Its E-Commerce Platform with 60 Websites, 1stoplighting.com, and U.S. Leading Retailers Including Home Depot, Target, Lowe’s, and Walmart
Based on the Growing Sales of Its Patented Turbo Heater Fan, SKYX Is Expanding the Category of the “All-Season Ceiling Fan” — Heat in Winter and Cool in Summer — to Provide Additional Products in New Designs and Larger Sizes
Company Expects to Continue Its Growth in 2026 to Advance Its Path to Cash-Flow Positive
SKYX Anticipates Securing Significant Business Opportunities in the Hotel and Builder Segments in the First Half of 2026
SKYX’s Enhanced Safety Code Standardization Team Continues Its Progress Toward Its Goal of a Safety-Mandated Standardization in Homes/Buildings of Its Life-Saving Ceiling Outlet/Receptacle Technology
SKYX Is Expected to Supply Its Advanced Smart Home Technologies to Upcoming and Future Key Projects in the U.S. and Globally, Including New York, North Carolina, Austin, San Antonio, South Florida (Including Miami’s New $4 Billion Smart City), Saudi Arabia, and Egypt
SKYX Is Expected to Deploy Over 1 Million Units of Its Advanced Smart Home Plug-and-Play Technologies During These Projects
SKYX Continues to Grow Its Market Penetration and Expects to Deploy Over 100,000 of Its Products into Homes/Units by the End of 2026 Through Retail and Pro Segments
SKYX’s Technology Expansion Provides Additional Opportunities for Future Recurring Revenues Through Interchangeability, Upgrades, AI Services, Monitoring, Subscriptions, and More
SKYX Will Be Launching a New AI-Driven Software in 2026 for Its E-Commerce Platform of 60 Websites, Which Is Expected to Increase Conversion Rates and Sales Up to 30%
MIAMI, March 30, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive smart home platform technology company with over 100 pending and issued patents globally and 60 lighting and home dcor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported its financial and operational results for the Fourth Quarter and Fiscal Year ended December 31, 2025.
Fourth Quarter 2025 and Subsequent Highlights:
-
SKYX reports record sales $92.0 million in 2025 compared with $86 million in 2024.
-
Generated a record $25 million in revenue in Q-4 2025 compared to $24 million in Q-4 2024.
-
Gross profit in 2025 increased to $28 million, from $25 million, representing a 13% increase.
-
SKYX is armed with cash, cash equivalents and restricted cash of $10 million as of December 31, 2025, together with $29 million the Company subsequently raised in January 2026 (from one fundamental investors in straight equity with no warrants), as compared to $16 million as of September 30, 2025.
-
Management expects significant growth in 2026 to advance its path to becoming cash-flow positive.
-
SKYX’s e-commerce sales are converted into cash rapidly, advancing it cash position often referred to as the “Dell Working Capital Model”, lowering its cost of capital.
-
In light of its strengthened balance sheet following recent capital raises, management believes the Company is well capitalized to execute its growth initiatives while progressing toward sustained cash-flow generation and profitability.
-
SKYX has successfully demonstrated its technology during a Marriott Hotel renovation and expects to grow its hotel segment during 2026.
-
Marriott Hotel chain owner, The Shaner Group, led a $16.5 million investment round. The Shaner Group is an owner and developer of more than 70 hotels worldwide.
-
Company is expecting to secure additional significant business opportunities in 2026.
-
SKYX continues its growth and expects to deploy over 100,000 of its products into homes/units during 2026 through retail and pro segments.
-
SKYX announced the launch of its patented advanced SKYFAN and Turbo Heater to the leading U.S. retailer Home Depot, including a new SkyPlug branding page on HomeDepot.com.
-
SKYX recently announced the launch of its Turbo Heater fan at leading U.S. retailers Target, Walmart, and Lowe’s, and on its e-commerce platform across 60 websites.
-
SKYX anticipates securing additional significant business opportunities on several fronts during 2026.
-
SKYX is expected to supply its advanced smart home technologies to upcoming and future key projects in the U.S. and globally, including projects in Pittsford, New York; North Carolina; Austin, Texas; San Antonio, Texas; South Florida including the new $4 billion smart city in Miami, Florida; Saudi Arabia; and Egypt, among others.
-
SKYX is expected to deploy over 1 million units of its advanced smart home plug-and-play technologies during these projects.
Technology Roadmap
-
SKYX announced a collaboration with the NVIDIA AI Ecosystem Connect Program. SKYX expects to grow its collaboration with NVIDIA through its existing and future smart home projects.
-
SKYX will be launching a new AI driven software for its e-commerce platform of 60 websites, expected to increase its conversion rate and sales up to 30%.
-
The Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers including in the U.S., Vietnam, Taiwan, China, and Cambodia.
-
SKYX’s technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more.
Financing Highlights
Safety Standardization Mandatory Code / Insurance Specification and Recommendation
-
SKYX's Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety agency’s process for a safety mandatory standardization of its electrical ceiling outlet/receptacle technology.
-
SKYX’s code team is led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). The Company’s safety Code Standardization team believes it will garner assistance from additional safety organizations with its code mandatory safety standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, considering the Company’s standardization progress including its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings.
-
With respect to insurance companies, the Company strongly believes its products can save insurance companies many billions of dollars annually by reducing fires, ladder fall injuries, and electrocutions among other things. Management expects that once it completes an entire range and variations of its safe advanced plug & play products it will start being recommended by insurance companies.
2025 Financial Results
Revenue in 2025 increased to a record $92.0 million, including record sales of $25 million in the fourth quarter, including e-commerce sales, smart home products and advanced plug & play products. Gross profit in 2025 increased to $28 million, or 30% of revenue from $25 million, or 29% of revenue in 2024. We are armed with cash, cash equivalents and restricted cash of $10 million as of December 31, 2025, in addition to $29 million we raised in January 2026, as compared to $16 million as of September 30, 2025. Cash used in operating activities for 2025 amounted to $13 million, as compared to $18 million in 2024. Net loss per share decreased by $0.04 to $0.32 per share in 2025 compared to $0.36 in 2024. Adjusted EBITDA loss per share, a non-GAAP measure, decreased to $0.10 per share in 2025, as compared to $0.13 per share, in 2024.
The Company’s annual report on Form 10-K will be filed with the SEC and will be made available on the Company’s investor relations website: https://ir.skyplug.com/sec-filings/.
Management Commentary
Our year ended December 31, 2025, was highlighted by our four quarters of consecutive growth including sales and rollout of our advanced ceiling smart and standard plug & play platform products on many leading U.S. and Canadian websites. We believe we are accelerating sales momentum while driving toward a stronger gross margin profile, supported in part by contributions from the Turbo Heater Fan, and continuing to actively manage SKYX’s cash burn. Our e-commerce platform with 60 websites is expected to continue providing additional cash flow to the Company. Management anticipates that in 2026 the Company will continue to advance its path towards cash flow positive.
About SKYX Platforms Corp.
-
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
-
SKYX’s technologies provide opportunities for recurring revenues through interchangeability, upgrades, AI services monitoring, and subscriptions. Company is focused on the “Razor & Blades” model and its product range includes its advanced ceiling electrical outlet (Razor) and its advance and smart home plug & play products (Blades) including its advance and smart home plug & play platform products, lighting, recessed lights, down lights, EXIT signs, emergency lights, ceiling fans, chandeliers/pendants, holiday/kids/themes lights, indoor/outdoor wall lights and others. Company’s plug & play technology enables an installation of lighting, fans, and smart home products in high-rise buildings and hotels within days rather than months.
-
Company’s total addressable market (TAM) in the U.S. is roughly $500 billion with over 4.2 billion ceiling applications in the U.S. alone. Expected revenue streams from retail and professional segments include product sales, royalties, licensing, subscription, monitoring, and sale of global country rights.
For more information, please visit our website at https://skyx.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
[email protected]