Core Insights - SKYX Technologies is set to begin production of its new patented advanced smart Plug & Play recessed lights, which are expected to significantly contribute to the company's growth in the multi-billion-unit global recessed light market [1][2][5] - The company holds a robust patent portfolio with over 94 issued and pending patents globally, including key markets such as the U.S., China, Canada, Hong Kong, and Mexico [1][4] - The total addressable market (TAM) for SKYX is estimated to exceed $500 billion, highlighting the substantial potential for growth and value creation within the smart home and lighting industries [4] Product Features and Technology - SKYX's Plug & Play recessed lights can be controlled via an app, voice control, and are compatible with major platforms such as Apple's Siri, Amazon Alexa, Google Home, and Samsung [3] - The recessed light solution addresses safety concerns associated with hazardous electrical wiring by enabling a simple installation process that saves time and costs [2] Company Vision and Market Position - The founder and executive chairman of SKYX emphasized the company's mission to make homes and buildings safer, smarter, and more advanced, positioning it as a leading technology provider in the smart home and lighting sectors [5] - The company also operates over 60 lighting and home décor websites, catering to both retail and commercial segments, further enhancing its market presence [5][9]

The 6 additional patent issuances cover SKYX's advanced plug-and-play smart ceiling fan and heater, enabling an all-in-one all-season product providing cool air for summertime and hot air for wintertime. 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 94 U.S. and global patents and patent pending applications. Addi ...

SKYX Platforms Corp. (NASDAQ:SKYX) Q1 2024 Earnings Conference Call May 14, 2024 4:30 PM ET Company Participants Rani Kohen - Founder and Executive Chairman Steve Schmidt - President Len Sokolow - Co Chief Executive Officer Marc Boisseau - Chief Financial Officer Khadija Mustafa - Senior Tech Advisor Conference Call Participants Jack Aarde - Maxim Group Operator Good day and welcome to the SKYX Platforms Corp. First Quarter 2024 Investor Update Call. Today's webinar is being recorded. Before we begin the fo ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SKYX PLATFORMS CORP. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of incor ...

Financial Performance - First quarter 2024 revenue reached a record $19.0 million, up from $18.6 million in the first quarter of 2023, reflecting a growth of approximately 2.1%[2] - Total revenue for Q1 2024 was $18,977,821, a significant increase from $10,025 in Q1 2023, representing a growth of approximately 188,000%[19] - Gross profit for Q1 2024 was $5,578,050, compared to a gross profit of $8,557 in Q1 2023, indicating a substantial increase in revenue generation despite higher costs[19] - Net loss for Q1 2024 was $9,676,201, compared to a net loss of $7,970,269 in Q1 2023, reflecting a year-over-year increase in losses of approximately 21.4%[19] - EBITDA, as adjusted, for Q1 2024 was $(4,532,747), compared to $(3,778,573) in Q1 2023, indicating a worsening of approximately 19.9%[25] Cash and Assets - As of March 31, 2024, cash, cash equivalents, and restricted cash totaled $19.8 million, a decrease from $22.4 million as of December 31, 2023[6] - Cash and cash equivalents at the end of Q1 2024 were $19,789,663, down from $22,430,253 at the beginning of the period, a decrease of about 11.6%[23] - Total current assets decreased to $25,482,328 as of March 31, 2024, down from $27,317,855 as of December 31, 2023, a decline of about 6.7%[17] Liabilities and Equity - Total liabilities increased to $60,688,463 as of March 31, 2024, compared to $60,119,193 as of December 31, 2023, representing an increase of approximately 0.9%[17] - Total stockholders' equity decreased to $13,496,593 as of March 31, 2024, down from $16,222,010 as of December 31, 2023, a decline of about 16.8%[17] - Operating lease liabilities increased to $24,322,762 as of March 31, 2024, compared to $24,165,986 as of December 31, 2023, reflecting a rise of approximately 0.65%[17] Expenses - Sales and marketing expenses increased to $6.5 million in the first quarter of 2024, compared to $5.7 million in the same period of 2023[7] - Adjusted EBITDA for the first quarter of 2024 was a net loss of $5.1 million, compared to a net cash loss of $4.4 million in the first quarter of 2023[8] Strategic Initiatives - The company has over 90 issued and pending patents, with 30 patents specifically covering advanced plug and play and smart home platform technologies[2] - Collaboration with Ruee Appliances aims to enhance gross margins and expand market reach in China and Europe[2] - A five-year global licensing partnership with General Electric (GE) was established to license SKYX's patented technologies[2] - The company has opened over 100 builder and pro accounts during the International Builders' Show, targeting the builder and pro segments[2] - SKYX expects to deliver approximately 30,000 units of its advanced smart home platform technologies to a developer's upcoming projects[2] - The company anticipates becoming cash flow positive during 2025, supported by its e-commerce platform and strategic collaborations[9] Shareholder Information - The company issued 2,733,361 shares of common stock during Q1 2024, increasing the total shares outstanding to 97,096,897[21]

Financial Data and Key Metrics Changes - The company reported a record revenue of $58.8 million for 2023, up from $32 million in 2022, with Q4 2023 revenue reaching $22 million [19][90] - The adjusted EBITDA loss was $15.2 million in 2023, compared to a loss of $11.6 million in 2022, while the net loss increased to $39.7 million, or $0.45 per share, from a net loss of $27 million, or $0.40 per share, in 2022 [10][72] - Cash and cash equivalents increased to $22.4 million as of December 31, 2023, compared to $16.8 million at the end of 2022 [19][24] Business Line Data and Key Metrics Changes - The company has begun selling products in the Canadian market and expects to have its products in tens of thousands of homes during the year [6][19] - Collaborations with leading lighting companies such as Kichler and QUOIZEL have been established to enhance market penetration [7][21] - The company has shipped products to thousands of U.S. homes, with many orders including multiple units [20] Market Data and Key Metrics Changes - The company has opened over 100 builder and pro accounts, indicating strong market engagement [87] - The total addressable market (TAM) is estimated to be over $500 billion, with significant opportunities in safety and smart home technology [85][92] Company Strategy and Development Direction - The company aims to revolutionize the lighting and smart home industries, positioning itself as a safety standard in homes and buildings [3][4] - A five-year global licensing partnership with GE has been signed to license patented technologies, which is expected to enhance growth and market presence [21][92] - The company is focused on enhancing its e-commerce platform to accelerate marketing and distribution channels [70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about becoming cash flow positive by 2025, driven by increased market penetration and product adoption [19][91] - The management team believes that the safety aspects of their products will lead to regulatory approval and standardization, which could be a game changer for the company [30][32] - The company is encouraged by the progress made in safety-mandated filings and anticipates further collaborations with leading companies [22][89] Other Important Information - The company won over seven awards at the CES, highlighting the recognition of its innovative products [21][51] - The company has filed for mandatory safety standardization with the National Electric Code for its ceiling outlet receptacles [22][56] Q&A Session Summary Question: Can you provide revenue expectations alongside the break-even level for calendar '25? - Management indicated that while they expect to be in tens of thousands of homes, they have not provided specific revenue guidance yet [60][61] Question: Can you discuss the current liabilities and how cash is being used? - The CFO explained that the company collects accounts receivable quickly, which helps manage cash flow despite current liabilities [36][37] Question: What are the manufacturing capabilities and who is responsible for manufacturing? - The company subcontracts manufacturing to approved factories that meet quality standards set by GE, with significant capacity for growth [65][67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41276 SKYX Platforms Corp. (Exact name of registrant as specified in its charter) WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Florida 46-3645414 (State or other jurisdiction of incorporat ...

Exhibit 99.1 SKYX Reports Record Sales of $58.8 Million for 2023 and Fourth Quarter Record Sales of $22.2 Million as it Continues to Enhance its Market Penetration for Both Retail and Pro Segments SKYX reports $22.4 million in cash, cash equivalents, restricted cash, available cash, and investments available for sale as of December 31, 2023, as compared to $16.8 million as of December 31, 2022 MIAMI, FL – April 1, 2024 – SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the "Company" or "SKYX") ...

SKYX Platforms Corp. (NASDAQ:SKYX) Q3 2023 Earnings Conference Call November 13, 2023 4:30 PM ET Company Participants Rani Kohen - Founder and Executive Chairman Steve Schmidt - President Len Sokolow - Co-Chief Executive Officer Marc Boisseau - Chief Financial Officer Conference Call Participants Michael Legg - The Benchmark Company Leo Carpio - Joseph Gunnar Operator Good day, and welcome to the SKYX Platforms Corporation Third Quarter 2023 Investor Update Call. Today's webinar is being recorded. Before we ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR Commission File Number: 001-41276 SKYX PLATFORMS CORP. (Exact name of registrant as specified in its charter) Florida 46-3645414 (State or other jurisdiction of i ...