SKYX Announces Launch at U.S Leading Retailer Target of its Ceiling Plug & Play SKYFAN & TURBO HEATER Management Anticipates Significant Growth in Target Channel During 2026Driven by Strong Demand, SKYX Expects Additional Winter Launches at Several Other Leading U.S. Retailers and Big-Box ChainsManagement Expects the Turbo Heater & Ceiling Fan to Generate Significant Revenue Beginning this Winter and Continuing throughout Fiscal Year 2026The Company Anticipates that the Winter Launch Will Advance its Path ...

Miami, Florida--(Newsfile Corp. - December 2, 2025) - SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX"), a highly disruptive platform technology company with over 100 pending and issued patents globally and over 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today announced that its Founder and Executive Chairman, Rani Kohen, and Chief Executive Officer, Lenny Sokolow, will present at NobleCon2 ...

Core Insights - SKYX Platforms Corp. is set to supply 15,000 units of its advanced smart plug and play technologies for a residential development project in San Antonio, Texas, which includes 340 units comprising 88 townhomes and 252 apartments [2][3][4] - Landmark Companies, with 27 years of experience, is leading the development and specializes in modern homes and buildings, currently having over 3,000 units in development across Texas, Florida, and Colorado [2][3][4] Company Overview - SKYX Platforms Corp. holds over 100 pending and issued patents globally and operates more than 60 lighting and home décor websites, aiming to make homes and buildings safer and smarter [2][6] - The company emphasizes high quality and ease of use in its technologies, which are designed to enhance safety and lifestyle in residential and commercial settings [6] Collaboration Details - The collaboration between SKYX and Landmark Companies is expected to expand into future projects, providing opportunities for recurring revenues through upgrades, AI services, and subscriptions [2][4] - Landmark Companies' CEO expressed excitement about integrating SKYX's technologies into their projects, aiming to enhance safety, convenience, and design standards [4]

Core Insights - SKYX Platforms Corp. reported a quarterly loss of $0.07 per share, which was better than the Zacks Consensus Estimate of a loss of $0.08, indicating an earnings surprise of +12.50% [1] - The company generated revenues of $23.89 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.98% and showing an increase from $22.17 million year-over-year [2] - The stock has increased by approximately 36.2% since the beginning of the year, outperforming the S&P 500's gain of 16.4% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $25.63 million, and for the current fiscal year, it is -$0.32 on revenues of $91.99 million [7] - The estimate revisions trend for SKYX Platforms was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Technology Services industry, to which SKYX Platforms belongs, is currently ranked in the top 30% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of SKYX Platforms may be influenced by the overall industry outlook, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5]

Financial Data and Key Metrics Changes - The company reported record revenue of $24 million in Q3 2025, an increase from $23 million in Q2 2025, marking seven consecutive quarters of revenue growth from Q1 2024 to Q3 2025 [4][10] - Gross profit for Q3 2025 increased sequentially by 8% to $8 million compared to $7 million in Q2 2025 [12] - Gross margin for Q3 2025 increased to 32%, up from 30% in Q2 2025 [14] - Net loss per share decreased to $0.07 in Q3 from $0.08 in Q2 2025, while adjusted EBITDA loss per share remained at $0.02 [14] Business Line Data and Key Metrics Changes - The company anticipates deploying over 50,000 units of its products into homes and hotel rooms by the end of Q4 2025, with significant contributions from various projects [5][6] - A major collaboration with a $3 billion mixed-use urban Smart Home City Project in Miami is expected to involve over 500,000 units of advanced smart home technologies [5] - The company is also supplying technologies to a 278-apartment project in Austin, Texas, providing over 10,000 units of its advanced technologies [5] Market Data and Key Metrics Changes - The company has signed an agreement with a prominent U.S. and international real estate developer to deploy advanced smart home technologies in Middle Eastern projects, including Saudi Arabia and Egypt [4][5] - The company is experiencing growth in deferred revenue, indicating an acceleration of revenues primarily from its e-commerce platform [11] Company Strategy and Development Direction - The company is focused on expanding its market penetration through strategic partnerships and collaborations, particularly in the real estate and hotel segments [4][5][15] - The introduction of AI-driven software for its e-commerce platform is expected to increase conversion rates and sales by 30% [7][34] - The company is leveraging a "Razor and Blade" model, where the ceiling receptacle serves as the entry point for higher-ticket items, enhancing revenue potential [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities, particularly in the Middle East and through collaborations with major developers [15][19] - The company is making significant progress towards mandatory safety standardization for its products, which is expected to enhance market acceptance and safety [17][53] - Management highlighted the importance of cash conservation and leveraging relationships with manufacturers to support operations [12][17] Other Important Information - The company raised $5 million in additional capital from leading shareholders, reflecting confidence in its strategy and development [8][10] - As of September 30, 2025, the company reported a total of $13 million in cash, cash equivalents, restricted cash, and receivables [7] Q&A Session Summary Question: Can you provide insight into the near-term revenue outlook and product deployment? - The company expects to deploy over 50,000 products by the end of Q4, with a mix of higher-ticket items contributing to revenue growth [28][29] Question: What specifics can you share about the software upgrade and its impact on revenue? - The software upgrade is expected to be completed by Q1 or Q2 of 2026, aiming to increase conversion rates through AI methods [33][34] Question: What is the status of various projects, including the Marriott Hotel and Miami Smart City? - The Marriott demo has opened doors for more business, while the Miami project is still in the permitting phase, with significant supply expected in 2026 [36][56] Question: How does the company view the Middle East opportunity? - The Middle East is seen as a fast adopter of advanced technologies, with significant growth potential in commercial and residential developments [59][60]

Financial Data and Key Metrics Changes - The company reported record revenue of $24 million in Q3 2025, an increase from $23 million in Q2 2025, marking seven consecutive quarters of revenue growth from Q1 2024 to Q3 2025 [4][10] - Gross profit for Q3 2025 increased by 8% to $8 million compared to $7 million in Q2 2025, with gross margin rising to 32% from 30% in the previous quarter [12][14] - Net loss per share decreased by 1 cent to 7 cents in Q3 from 8 cents in Q2, while adjusted EBITDA loss per share remained stable at 2 cents [14] Business Line Data and Key Metrics Changes - The company anticipates deploying over 50,000 products into homes and units by the end of Q4 2025, with a focus on expanding into the hotel segment and smart city projects [5][6] - A significant collaboration with a $3 billion mixed-use urban smart home city project in Miami is expected to involve supplying over 500,000 units of advanced smart home technologies [5] Market Data and Key Metrics Changes - The company has signed an agreement with Global Venture Group to deploy smart home technologies in Middle Eastern projects, including Saudi Arabia and Egypt, indicating a strategic expansion into international markets [4][5] - The company is also working on projects in Austin, Texas, and has established relationships with prominent developers, enhancing its market presence [5][15] Company Strategy and Development Direction - The company is focused on leveraging its technology to create recurring revenue opportunities through upgrades, AI services, and subscriptions, emphasizing the importance of data in its business model [6][10] - The upcoming launch of AI-driven software for its e-commerce platform is expected to increase conversion rates and sales by 30%, showcasing the company's commitment to integrating advanced technology into its operations [7][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, particularly in the B2B segment, which is expected to see significant growth starting in 2026 [42] - The company is making progress with safety code standardization and anticipates that its products will play a crucial role in enhancing safety in homes and buildings [17][53] Other Important Information - The company raised $5 million in additional capital from leading shareholders, reflecting confidence in its strategy and development [8][10] - The company is working on a patented advanced turbo heater fan and a variety of plug-and-play ceiling fans, which are expected to contribute to achieving cash-positive status [26] Q&A Session Summary Question: Can you provide insight into the near-term revenue outlook and product deployment? - The company expects to deploy over 50,000 products by the end of Q4, with a mix of higher-ticket items like ceiling fans and heater fans contributing to revenue growth [28][30] Question: What specifics can you share about the software upgrade and its impact on revenue? - The software upgrade is expected to be completed by Q1 or Q2 of 2026, aiming to enhance conversion rates through AI methods [33][34] Question: How does the company view the revenue mix between consumer sales and builder partnerships? - Currently, revenues are mainly from retail, but significant growth is anticipated in the B2B segment starting in 2026 [42] Question: What is the status of the various projects mentioned, including the Marriott Hotel and Miami Smart City? - The Marriott demo has opened doors for more business, while the Miami project is still in the permitting phase, with significant supply expected to start in 2026 [36][56] Question: Can you elaborate on the Middle East opportunity and its potential? - The Middle East is seen as a fast adopter of advanced technologies, with significant growth potential in commercial and residential developments [60]

Financial Data and Key Metrics Changes - The company reported record revenue of $24 million in Q3 2025, an increase from $23 million in Q2 2025, marking seven consecutive quarters of revenue growth from Q1 2024 to Q3 2025 [4][11] - Gross profit for Q3 2025 increased by 8% to $8 million compared to $7 million in Q2 2025, with gross margin rising to 32% from 30% in the previous quarter [13][14] - Net loss per share decreased by 1 cent to 7 cents in Q3 from 8 cents in Q2, while adjusted EBITDA loss per share remained stable at 2 cents [14] Business Line Data and Key Metrics Changes - The company anticipates deploying over 50,000 products into homes and units by the end of Q4 2025, with a focus on retail and professional segments [6][30] - Significant collaborations include supplying technologies to a 278-apartment project in Austin, Texas, and a $3 billion mixed-use urban smart home city project in Miami, with expectations of supplying over 500,000 units [5][6] Market Data and Key Metrics Changes - The company has signed an agreement with Global Venture Group to deploy smart home technologies in Middle Eastern projects, including Saudi Arabia and Egypt, expecting to supply hundreds of thousands of units [4][5] - The company is experiencing growth in deferred revenue, indicating an acceleration of revenues primarily from its e-commerce platform [12] Company Strategy and Development Direction - The company is focused on expanding its market penetration through strategic partnerships and collaborations, particularly in the real estate and hotel segments [4][5][16] - The introduction of AI-driven software for its e-commerce platform is expected to increase conversion rates and sales by 30%, enhancing the overall customer experience [8][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities, particularly in the Middle East and through collaborations with major developers [16][20] - The company is making progress towards mandatory safety standardization for its products, which is expected to enhance market acceptance and safety [18][60] Other Important Information - The company raised $5 million in additional capital from leading shareholders, reflecting confidence in its strategy and development [9][11] - The upcoming launch of a patented advanced smart turbo heater fan and various plug-and-play ceiling fans is anticipated to contribute significantly to cash flow [7][27] Q&A Session Summary Question: Near-term revenue outlook and product deployment - The company expects to deploy over 50,000 products by the end of Q4, with a mix of higher-ticket items contributing to revenue growth [30][31] Question: Software upgrade impact on revenue - The software upgrade is expected to be completed by Q1 or Q2 of 2026, aiming to increase conversion rates through AI methods [36][38] Question: Current shipping status of projects - The Marriott demo has opened doors for more business, while projects in Austin and Florida are starting to supply soon, with larger projects expected to begin in 2026 [42][64] Question: Middle East opportunities - The company sees significant growth potential in the Middle East, particularly in advanced technology adoption for commercial and residential developments [67] Question: Turbo heater fan sales channels - The turbo heater fan is expected to be sold through the company's websites and potentially through Home Depot, with further announcements to come [70]

Financial Performance - SKYX reported record revenues of $24 million in Q3 2025, up from $23 million in Q2 2025, marking a 4% increase[1] - Gross profit increased by 8% to $8 million in Q3 2025, compared to $7 million in Q2 2025[2] - Gross margin improved to 32% in Q3 2025, up from 30% in Q2 2025[3] - Revenue for Q3 2025 reached $23,891,537, a 7.8% increase from $22,168,919 in Q3 2024[22] - Total revenue for the nine months ended September 30, 2025, was $67,067,130, compared to $62,592,888 for the same period in 2024, reflecting a growth of 7.9%[22] - The net loss for Q3 2025 was $7,615,926, compared to a net loss of $8,621,306 in Q3 2024, showing an improvement of 11.7%[22] - The company reported a net loss attributed to common stockholders of $7,902,926 for Q3 2025, compared to $8,621,306 in Q3 2024[22] - For the nine months ended September 30, 2025, the net loss was $25,494,983 compared to a net loss of $25,760,456 for the same period in 2024, indicating a slight improvement[24] Operating Expenses and Cash Flow - Operating expenses for Q3 2025 totaled $30,655,155, up from $29,774,354 in Q3 2024, indicating a year-over-year increase of 2.9%[22] - Cash and cash equivalents decreased to $7,829,739 as of September 30, 2025, down from $12,639,441 at the end of 2024[21] - Total assets decreased to $58,414,184 as of September 30, 2025, compared to $65,887,047 at the end of 2024[21] - The company experienced a net cash used in operating activities of $(11,296,274) for the nine months ended September 30, 2025, compared to $(12,951,448) in 2024[24] Capital and Financing - The company has raised $5 million in additional capital and extended $11 million in notes due until 2030[8] - The company issued common stock pursuant to offerings, generating proceeds of $4,809,148 for the nine months ended September 30, 2025[24] Market Opportunities and Collaborations - The company expects to deploy over 50,000 products into homes/units by the end of Q4 2025 through retail and professional segments[4] - SKYX signed an agreement with Global Ventures Group to deploy hundreds of thousands of smart home technologies in Middle East projects, including Saudi Arabia and Egypt[5] - SKYX is collaborating with a $3 billion mixed-use smart city project in Miami, supplying over 500,000 units of its technologies[7] - The total addressable market (TAM) in the U.S. is estimated at $500 billion, with significant opportunities for recurring revenues through various channels[10] Equity and Liabilities - Total liabilities increased slightly to $57,253,277 as of September 30, 2025, from $56,833,619 at the end of 2024[21] - The company’s accumulated deficit grew to $(208,054,182) as of September 30, 2025, compared to $(181,783,825) at the end of 2024[21] - The total stockholders' equity (deficit) at the end of the period was $(3,839,093) compared to $3,834,570 at the end of the same period in 2024[23] Non-Cash Expenses - Non-cash equity-based compensation expense for the nine months ended September 30, 2025, was $10,027,416, up from $9,035,221 in 2024[24] - The company reported a depreciation and amortization expense of $3,585,817 for the nine months ended September 30, 2025, compared to $3,125,903 in 2024[24] Adjusted EBITDA - Adjusted EBITDA loss per share remained at $0.02 in Q3 2025, consistent with Q2 2025[9] - The adjusted EBITDA for the nine months ended September 30, 2025, was $(8,552,792), compared to $(9,449,211) for the same period in 2024[26] - The company incurred interest expenses of $3,497,227 for the nine months ended September 30, 2025, compared to $3,031,371 in 2024[26]

Financial Performance - Revenue for the three months ended September 30, 2025, was $23,891,537, a 7.8% increase from $22,168,919 in the same period of 2024[15] - Net loss for the three months ended September 30, 2025, was $7,615,926, compared to a net loss of $8,621,306 for the same period in 2024, reflecting a 11.7% improvement[15] - The company reported a net loss attributed to common stockholders of $26,270,357 for the nine months ended September 30, 2025, compared to $25,760,456 for the same period in 2024[15] - For the nine months ended September 30, 2025, the net loss was $25,494,983, compared to a net loss of $25,760,456 for the same period in 2024[20] - The net loss for the nine months ended September 30, 2025, was $25.49 million, slightly improved from a net loss of $25.76 million in 2024[77] Assets and Liabilities - Total current assets decreased to $16,438,196 as of September 30, 2025, down from $20,374,450 at the end of 2024, a decline of 19.5%[13] - Total assets decreased to $58,414,184 as of September 30, 2025, compared to $65,887,047 at the end of 2024, a reduction of 11.5%[13] - Total liabilities increased to $57,253,277 as of September 30, 2025, compared to $56,833,619 at the end of 2024, an increase of 0.7%[13] - Cash and cash equivalents decreased to $7,829,739 as of September 30, 2025, down from $12,639,441 at the end of 2024, a decline of 38.5%[13] - Total stockholders' equity (deficit) was reported at $(3,839,093) as of September 30, 2025, compared to $3,834,570 in 2024[20] Operating Expenses - Operating expenses for the nine months ended September 30, 2025, totaled $89,064,886, up from $85,321,973 in the same period of 2024, an increase of 3.1%[15] - Total operating expenses for the nine months ended September 30, 2025, were $89,064,886, up from $85,321,970 in 2024, indicating a rise of about 3.1%[77] - The company reported non-cash equity-based compensation expense of $10,027,416 for the nine months ended September 30, 2025, compared to $9,035,220 in 2024, reflecting an increase of approximately 11%[20] Cash Flow - The company generated net cash used in operating activities of $11,296,274 for the nine months ended September 30, 2025, compared to $12,951,448 in 2024, indicating a reduction of approximately 12.8%[20] - Cash paid for operating lease liabilities was $1,727,917 for the nine months ended September 30, 2025, compared to $1,636,374 for the same period in 2024[53] - The company generated $6.54 million in net cash from financing activities during the nine months ended September 30, 2025, compared to $4.11 million in 2024, representing a 59.3% increase[20] Stock and Equity - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 112,021,945, compared to 103,507,590 for the same period in 2024[15] - The Company issued 5,180,254 shares of common stock for services provided, valued at $10,027,416, averaging $1.94 per share during the nine months ended September 30, 2025[59] - The Company recognized compensation expenses of $8,038,763 related to restricted stock units (RSUs) during the nine months ended September 30, 2025, compared to $7,168,301 in the same period in 2024[67] - The number of outstanding stock options increased to 33,003,655 as of September 30, 2025, with a weighted average exercise price of $6.54[62] Challenges and Future Outlook - The company anticipates ongoing challenges related to market conditions, including supply chain constraints and potential economic downturns[10] - The company intends to mitigate liquidity concerns by increasing revenues and margins from products sold to large retailers and internet portals[25] - The company is focusing on expanding its operations and integrating new lines of business related to smart products and technologies[10] Inventory and Accounts - The Company’s allowance for doubtful accounts increased to $22,668 as of September 30, 2025, from $12,147 as of December 31, 2024[33] - The allowance for sales returns decreased to $107,502 as of September 30, 2025, from $242,515 as of December 31, 2024[34] - Total inventory as of September 30, 2025, was $3,716,758, a slight decrease from $3,785,346 as of December 31, 2024[37] - Total accounts payable and accrued expenses increased to $15.73 million as of September 30, 2025, compared to $14.28 million as of December 31, 2024, reflecting a growth of approximately 10.2%[56] Debt and Obligations - The total debt as of September 30, 2025, was $18,993,888, a decrease from $20,107,705 as of December 31, 2024[48] - Interest expense for the nine months ended September 30, 2025, was $1,195,591, down from $2,061,236 for the same period in 2024[48] - The Company owes $1.4 million to General Electric (GE) as of September 30, 2025, with payments of $0.1 million due in 2025 and $1.3 million in 2026[55]

Core Insights - SKYX Platforms Corp. reported a record revenue of $24 million in Q3 2025, marking a 4% increase from Q2 2025 and an 8% increase from Q3 2024 [2][8][14] - The company has experienced consistent revenue growth for seven consecutive quarters, with revenues ranging from $19 million in Q1 2024 to $24 million in Q3 2025 [1][7] - Gross profit improved by 8% to $8 million in Q3 2025, with gross margin increasing to 32% from 30% in Q2 2025 [4][8][14] Financial Performance - As of September 30, 2025, the company reported $13 million in total cash, cash equivalents, restricted cash, and receivables [2][9] - The adjusted EBITDA loss per share remained stable at $0.02 in Q3 2025, with a net loss per share decreasing to $0.07 from $0.08 in Q2 2025 [4][12] - The company raised $5 million in additional capital from leading shareholders and extended $11 million in notes due until 2030 [2][11] Strategic Developments - SKYX signed an agreement with Global Ventures Group to deploy its smart home technologies in Middle Eastern projects, including Saudi Arabia and Egypt, expecting to supply hundreds of thousands of units [1][4][15] - A major collaboration was established for a $3 billion mixed-use smart city project in Miami, where SKYX is expected to provide over 500,000 units of its technologies [4][15] - The company plans to launch an AI-driven software for its e-commerce platform, aiming to increase conversion rates and sales by 30% [1][4][15] Product and Market Expansion - SKYX is set to supply over 10,000 units of its technologies for a 278-apartment project in Austin, Texas, and is collaborating with Home Depot and Wayfair for retail distribution [4][15] - The company’s total addressable market in the U.S. is estimated at $500 billion, with significant opportunities for recurring revenues through various business models [7][15] - The Safety Code Standardization Team is making progress towards establishing mandatory safety standards for its technologies, supported by industry veterans [7][9]