Financial Data and Key Metrics Changes - The company reported a revenue increase of $3,400,000, representing a significant growth compared to the prior quarter [3] - Gross profit increased by 23%, indicating strong financial progress [3] - Net cash used in operating activities decreased by 54%, primarily due to favorable payables and improved gross profit [3][21] - Cash and cash equivalents rose to $15,700,000 as of June 30, compared to $12,300,000 as of March 31, 2025 [20] - Adjusted EBITDA loss decreased to $2,600,000 or $0.02 per share, down from $3,600,000 or $0.04 per share in the previous quarter [22] Business Line Data and Key Metrics Changes - The company has over 100 patents and pending applications, with 45 issued patents, which are crucial for future growth [5][9] - Collaboration with Home Depot continues to expand, with a variety of advanced smart products being offered [5] - The company expects its products to be in over 40,000 homes in the U.S. and Canada by the end of 2023 [6] Market Data and Key Metrics Changes - The company reported a record second quarter revenue of $23,100,000, a 15% increase compared to $20,100,000 in the same quarter of the previous year [19] - Market penetration in the U.S. and Canadian markets has shown consistent growth over six comparable quarters [19] Company Strategy and Development Direction - The company is focusing on safety, a massive total addressable market (TAM), and global applications as core factors driving future growth [5][9] - The collaboration on the Miami Smart City project is seen as a significant milestone, expected to redefine urban living and enhance the company's market presence [12][14] - The company is working on launching new products, including an all-in-one advanced smart heater, to boost revenues and gross margins [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving cash flow positive status in 2025, supported by reduced cash expenses and anticipated product launches [21][28] - There is a strong belief that mandatory safety standardizations will be implemented, which could serve as a catalyst for growth [31][32] Other Important Information - The company has made significant progress in safety code standardization, receiving support from government safety organizations [10][11] - A prominent hire from Amazon is expected to enhance the e-commerce platform and drive growth [36] Q&A Session Summary Question: Path to cash flow breakeven - Management highlighted reduced cash expenses and upcoming product launches as key factors to achieve cash flow breakeven by the end of the year [26][28] Question: Updates on mandatory standardization of codes - Management provided insights into ongoing efforts with government organizations to expedite the process of mandatory safety standardizations [30][32] Question: Impact of e-commerce platform changes - Management discussed the hiring of a prominent leader from Amazon to enhance the e-commerce strategy and drive growth [36] Question: Partnerships related to ceiling heaters and fans - Management confirmed ongoing collaborations with big box retailers and developers to expand market reach for the new products [44] Question: Smart City project as a proof point for other developers - Management acknowledged increased interest and recognition from other developers following the Smart City announcement [48]

Financial Data and Key Metrics Changes - The company reported first quarter sales of $20.1 million for 2025, an increase from $18.9 million in the first quarter of 2024, marking a 6% year-over-year growth [5][12] - Gross profit for the first quarter of 2025 increased sequentially by 2% to $5.7 million, with gross margin improving by 4.82% compared to the fourth quarter of 2024 [7][13] - General and administrative expenses decreased by 17% to $6.6 million in the first quarter of 2025 from $7.9 million in the same quarter of 2024 [7][14] - Net cash used in operating activities decreased by 29% to $4 million in the first quarter of 2025 compared to $6.1 million in the fourth quarter of 2024 [13] - The adjusted EBITDA loss decreased to $3.6 million or $0.04 per share in the first quarter of 2025, compared to a loss of $4.5 million or $0.05 per share in the first quarter of 2024 [13][14] Business Line Data and Key Metrics Changes - The company continues to grow its market penetration of advanced and smart plug-and-play products, expecting to reach 30,000 homes in the U.S. and Canada by the end of the second quarter of 2025 [6][14] - The partnership with Profab Electronics aims to enhance production capabilities and efficiency, contributing to the company's growth strategy [15][16] Market Data and Key Metrics Changes - The total addressable market (TAM) in the U.S. is estimated at approximately $500 billion, with over 42 billion sealing applications available [10] - The company is focused on the retail and professional segments, with expected revenue streams from product sales, royalties, licensing, subscriptions, and monitoring [10] Company Strategy and Development Direction - The company is pursuing a razor-and-blade model, with a product range that includes advanced ceiling electrical outlets and smart home plug-and-play products [9] - The company is working on launching new patented products and enhancing its supply chain through partnerships with manufacturers in the U.S. and abroad [15][16] - The management emphasizes the importance of safety code standardization and is actively working with government organizations to expedite this process [17][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth momentum and the potential to become cash flow positive in the second half of 2025 [6][12] - The management highlighted the importance of strategic investments and partnerships to support the company's growth trajectory [8][27] - The company is exploring various manufacturing options to mitigate tariff impacts and enhance domestic production capabilities [39][40] Other Important Information - The company recently secured approximately $4 million in additional equity, part of a broader financing round totaling approximately $15 million [7][8] - The management team includes prominent leaders with extensive experience in the electrical code and lighting industries, which is expected to enhance the company's credibility and influence [17] Q&A Session Summary Question: Current state of manufacturing and cost differences with U.S. partnership - The company is collaborating with Profab Electronics to automate production, with minimal cost differences anticipated [22][24] Question: Additional investment from the Shaner Group and hotel distribution channel - The company welcomes strategic investments and is working on product launches that will enhance its market position [26][28] Question: Goals for domestic manufacturing and automation timeline - The company aims to increase domestic production and is exploring options to achieve this, with automation expected to take time due to tooling and production processes [36][41] Question: Safety code standardization process and expected product orders - The company is exploring ways to expedite the safety code standardization process, with a focus on saving lives and mitigating injuries [42][44]

SKYX Platforms Corp. (NASDAQ:SKYX) Q4 2024 Earnings Conference Call March 24, 2025 4:30 PM ET Company Participants Rani Kohen - Founder, Inventor and Executive Chairman Steven Schmidt - President Leonard Sokolow - Co-Chief Executive Officer Conference Call Participants Patrick McCann - Noble Capital Jack Vander Aarde - Maxim Group Brandon Rogers - ROTH Capital Operator Good day, and welcome to the SKYX Platforms Corporation Fourth Quarter 2024 Earnings Call. All participants’ will be in a listen-only mode. ...