SKYX Provides Corporate Update, Including its Official Addition to the Russell 2000 on June 27, 2025, and its Expected Deployment of 500,000 Units of its Advanced Smart Home Plug & Play Technologies to Miami’s New $3 Billion Urban Smart City

Core Insights - SKYX Platforms Corp. is a disruptive smart home technology company with over 97 patents and a mission to enhance safety and intelligence in homes and buildings [1] - The company will be added to the Russell 2000 index on June 27, 2025, indicating increased market recognition [2] - SKYX is involved in a $3 billion Urban Smart Home City project in Miami, deploying over 500,000 units of its smart home technologies [2] Market Acceptance, Progress and Recent Events - The Urban Smart Home City project will feature over 5,700 condos and apartments, retail space, parks, and a new Tri-Rail Station [2] - SKYX has secured financial backing from U.S. and global manufacturers for product deployment [2] - The company anticipates a surge in demand for its All-In-One Smart Turbo Heater & Ceiling Fan, with a Q3 launch expected to support cash-flow positivity in 2025 [2][4] Financial Performance - SKYX reported record revenues of $20.1 million in Q1 2025, up from $18.9 million in Q1 2024 [2] - The company has $12.3 million in cash as of March 31, 2024, down from $15.5 million a year earlier [2] - General and Administrative expenses decreased by 17% to $6.6 million in Q1 2025 [2] Strategic Partnerships and Collaborations - SKYX has formed a strategic manufacturing partnership with Profab Electronics to enhance its supply chain [4] - Collaborations with major retailers like Home Depot and Wayfair will expand the distribution of its smart products [4] - The company is working with leading lighting manufacturers and prefabricated home builders to integrate its technologies into new developments [4][5] Safety and Standardization Efforts - SKYX's Safety Code Standardization Team is gaining support from a prominent leader in a government safety organization [9] - The team aims to establish mandatory safety standards for its ceiling outlet technology, which could lead to significant insurance savings [9] - The company believes its products can save insurance companies billions by reducing risks associated with electrical fires and accidents [9] Market Potential - The total addressable market for SKYX in the U.S. is estimated at $500 billion, with over 4.2 billion ceiling applications [4] - The company is focused on a "Razor & Blades" business model, offering a range of smart plug & play products [4] - SKYX's e-commerce platform consists of over 60 websites aimed at enhancing market penetration [4]