SKYX Reports Record Sales of $22.2 Million for Third Quarter Compared to $21.6 Million for Third Quarter 2023 as it Continues to Grow its Market Penetration of its Advanced and Smart Platform Products in the U.S and Canadian Markets MIAMI, FL, November 12, 2024 – PRISM MediaWire – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 97 pending and issued patents globally and over 60 lighting and home décor website ...

Exhibit 99.1 Exhibit 99.1 Earnings Press Release, dated November 12, 2024 SKYX Reports Record Sales of $22.2 Million for Third Quarter Compared to $21.6 Million for Third Quarter 2023 as it Continues to Grow its Market Penetration of its Advanced and Smart Platform Products in the U.S and Canadian Markets MIAMI, FL – November 12, 2024 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX"), a highly disruptive platform technology company with over 97 pending and issued pate ...

MIAMI, Nov. 05, 2024 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology company with over 97 issued and pending patents in the U.S. and globally, and over 60 lighting and home décor websites with a mission to make homes and buildings become smart, safe, and advanced as the new standard, today announced it will be a main event at The Real Deal Miami Experience, an all-day event on November 6 and 7th 2024 at the at the Mana Wynwoo ...

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SKYX Announces a Collaboration with Wayfair for its Advanced and Smart Plug & Play Lighting for Retail and Professional Segments including Designers and Architects SKYX will Offer a Variety of its Advanced and Smart Plug & Play Lighting and Ceiling Fan Products, Plug & Play Retrofit Kits and Recessed Lights, Ceiling Outlet Receptacles, and More Miami, FL. October 16, 2024 – PRISM MediaWire – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology compan ...

MIAMI, Oct. 09, 2024 (GLOBE NEWSWIRE) -- SKYX (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology company with over 97 issued and pending patents in the U.S. and globally, and which owns over 60 lighting and home décor websites with a mission to make homes and buildings become smart, safe, and advanced as the new standard, provides today a corporate update including significant insider buying. SKYX Secures $11 million equity preferred stock investment representing $2.00 ...

SKYX Secures $11 Million Strategic Investment at $2.00 Per Share, Preferred Stock Convertible, Led by Global Marriott Hotel-Chain Developer, Lance Shaner, Owner of over 60 Hotels, Primarily Marriotts Management Emphasizes That It Has Sufficient Cash to Achieve Its Goals Including Recently Announced Collaborations and Being Cash Flow Positive During 2025 The $11 Million Investment includes Leading Builders and Hotel Developers MIAMI, October 07, 2024 – PRISM MediaWire – SKYX Platforms Corp. (NASDAQ: SKYX) (d ...

SKYX to Collaborate with EGLO, European World Leading Design and Manufacturer of Decorative Lighting and Ceiling Fans The Collaboration Provides for the Joint Exploration and Product Development Potential for European and International markets for leveraging SKYX's Technology, Product and Manufacturing Expertise of the Two Companies MIAMI, FL, August 19, 2024 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX"), a highly disruptive smart platform technology company with ...

MIAMI, Aug. 19, 2024 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX"), a highly disruptive smart platform technology company with more than 97 issued and pending patents globally and over 60 lighting and home décor websites, announces a new collaboration with EGLO, an international market leading designer and manufacturer of decorative and functional lighting and ceiling fans. The collaboration provides for the two companies to explore and evaluate ...

Financial Data and Key Metrics Changes - The company reported record second quarter sales of $21.4 million, an increase from $15 million in the second quarter of 2023, reflecting a growth in market penetration in the US and Canada [8][15] - Cash, cash equivalents, and restricted cash decreased to $15.6 million as of June 30, 2024, down from $19.8 million as of March 31, 2024 [9][16] - Adjusted EBITDA loss decreased to $2.1 million in the second quarter, compared to a loss of $4.6 million in the first quarter of 2024 [17] Business Line Data and Key Metrics Changes - The company continues to grow its market penetration of advanced and smart plug and play products, now in nearly 10,000 homes in the US and Canada, with expectations to reach tens of thousands by 2025 [9][10] - The introduction of new products, including the advanced smart plug and play Recessed Lights, is expected to open significant market opportunities [12][20] Market Data and Key Metrics Changes - The total addressable market (TAM) is estimated to be over $500 billion, covering various sectors including homes, hotels, and offices [6] - The company is experiencing growth despite declines in the broader lighting and home decor market due to the slowdown in real estate and post-COVID renovation trends [8] Company Strategy and Development Direction - The company aims to revolutionize the lighting and smart home industries with its innovative products, focusing on safety, cost savings, and ease of installation [5][7] - Collaborations with major retailers like Home Depot and manufacturers such as Ruee Appliances are expected to enhance distribution channels and product offerings [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow positivity by 2025, leveraging collaborations and the company's e-commerce model [10][35] - The company is actively pursuing additional retail partnerships and is optimistic about future product launches and market expansion [30][34] Other Important Information - The company has made significant progress in patent applications, with a total of 97 patents and pending applications, including 36 issued patents globally [5][14] - The company is utilizing a "razor and blade" model to enhance market penetration and product offerings [19] Q&A Session Summary Question: Comments on Home Depot relationship and Ruee Appliances - Management highlighted that collaborations with Ruee Appliances provide financial backing and production capacity, enhancing gross margins and distribution channels [28] Question: Other retailers' interest post-Home Depot announcement - Management indicated ongoing discussions with various retailers but could not disclose specifics at this time [30] Question: Developments in the builder channel since Home Depot announcement - Management confirmed active engagement in the builder channel and plans to introduce a variety of products tailored for builders [33] Question: Updates on cash burn and funding needs - Management expressed confidence in achieving cash flow positivity without needing additional funding, thanks to favorable sales terms and collaborations [35] Question: Update on Gen 3 all-in-one platform product launch timing - Management expects to start production in the second half of the year, pending final regulatory testing and quality control [39] Question: Progress with Ruee Appliances and gross margin uplift - Management noted that Ruee Appliances brings significant manufacturing capabilities and flexibility, which should positively impact gross margins in the future [41] Question: Status of the GE relationship - Management confirmed active collaboration with GE, focusing on licensing opportunities and leveraging GE's expertise in the industry [42]