Core Insights - SKYX Platforms Corp. has been selected as the exclusive smart home infrastructure provider for a $3 billion mixed-use development in Miami, which will deploy over 500,000 smart home devices [1][2] - The company is set to be included in the Russell 2000® and Russell 3000® Indexes, effective June 27, 2025, as part of FTSE Russell's annual reconstitution [4] - SKYX reported record Q1 2025 results with revenue of $20.1 million, a 4.8% sequential gross margin improvement, and a 17% reduction in general and administrative expenses [5] Company Developments - The Miami project spans 63 acres in the Little River District and will integrate SKYX's patented plug & play technologies across more than 5,700 residential units, including 2,400 affordable apartments [2] - The advanced plug & play smart platform aims to support the next generation of urban developments, contributing to a connected and efficient living environment [4] - The company has expanded its footprint across the U.S. and Canada and anticipates achieving cash flow positivity in the second half of 2025, supported by its razor-and-blade business model [5] Technological Innovations - SKYX holds over 97 U.S. and global patents and patent pending applications for its advanced-safe-smart platform technologies [6] - The company's mission is to make homes and buildings safer and smarter, emphasizing high quality and ease of use to enhance safety and lifestyle [6]

Core Insights - SKYX Platforms Corp. is set to be added to the Russell 2000® and Russell 3000® Indexes, effective June 27, 2025, following the 2025 annual reconstitution [1][2] - The inclusion in these indexes is expected to enhance investor awareness and increase institutional ownership of SKYX's technology platform [3] Company Overview - SKYX is a smart home platform technology company with over 97 issued and pending patents globally and a portfolio of over 60 lighting and home décor websites [1][4] - The company's mission is to make homes and buildings smart, safe, and advanced, positioning its products as essential in both residential and commercial segments [4] Market Context - The Russell indexes rank the largest U.S. public companies by total market capitalization, with approximately $10.6 trillion in assets benchmarked to these indexes [2][3] - Inclusion in the Russell 3000® Index provides automatic membership in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, along with relevant growth and value style indexes [2]

Funding Announcement - SKYX Technologies has secured approximately $4 million in recent funding from strategic investors through the purchase of preferred stock at $2.00 per share [1] - This investment is part of a broader financing round totaling approximately $15 million to date, led by The Shaner Group, which owns and develops over 70 hotels worldwide [1][2] - The funding round also saw substantial participation from company insiders, including SKYX President Steve Schmidt and Co-CEOs Lenny Sokolow and John Campi, indicating their confidence in the company's strategic vision and growth trajectory [2] Company Overview - SKYX Technologies is focused on creating advanced and smart home platform technologies, holding over 97 issued and pending patents globally [3] - The company owns more than 60 lighting and home décor websites, catering to both retail and commercial segments [3] - SKYX aims to enhance safety and lifestyle in homes and buildings, positioning its products as essential in every room [3]

Financial Performance - Total revenue decreased by 18% year-over-year to $41.3 million, primarily due to a strategic shift away from hardware-led growth towards SaaS [13, 16] - Annual Recurring Revenue (ARR) grew by 17% year-over-year to $55.9 million, representing approximately 34% of total revenue [4, 17, 30] - Net loss was $(40.2) million, including a goodwill impairment charge of $24.9 million [13] - Adjusted EBITDA decreased to $(6.4) million, compared to $0.4 million in the same quarter of the prior year, mainly due to expenses related to a legal matter [13] - The company repurchased approximately 1.0 million shares at an aggregate cost of $1.2 million in Q1, with $20.4 million remaining in the authorized program [27] Operational Metrics - Units Deployed increased by 10% year-over-year to over 827,000 [6, 13, 22] - SaaS Average Revenue Per Unit (ARPU) improved by 5% year-over-year to $5.69 [13, 25] - Customer Net Revenue Retention was 114%, and Customer Churn was 0.02%, indicating strong customer loyalty [22, 30] Strategic Initiatives - The company is focused on driving adjusted EBITDA profitability through recurring revenue, platform differentiation, and operational excellence [10] - Over $10 million in cost reductions have been completed [7, 26] - The company has a strong cash position with $125.6 million in cash and no debt, along with a $75 million undrawn credit facility [7, 13]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $41.3 million, down 18% year over year [20] - Hardware revenue decreased by 35% year over year to $18.8 million, reflecting a strategic shift away from hardware sales [20] - SaaS revenue grew by 17% year over year to $14 million, supported by improved ARPU and strong customer retention [21] - Gross margin for Q1 was 32.8%, down from 38.5% in the prior year, primarily due to lower hardware volume [21][22] - Net losses increased to $40.2 million, compared to $7.7 million in the same period last year, largely due to a non-cash goodwill impairment charge of $24.9 million [22] Business Line Data and Key Metrics Changes - SaaS ARPU increased to $5.69, up 5% from the prior year, while units booked SaaS ARPU reached $10.28, a 44% increase year over year [21] - SaaS gross margin remained strong at 70.7%, with expectations for further expansion over time [22] Market Data and Key Metrics Changes - The total addressable market (TAM) is estimated to be between $11 billion to $13 billion, with a target market of $3 billion to $4 billion for Class A and B buildings [15] - Customer retention rate has remained above 99.9% over the past three years, indicating strong customer loyalty [14] Company Strategy and Development Direction - The company is focusing on sustainable and predictable ARR growth, emphasizing a hardware-enabled SaaS model rather than hardware sales [11] - Strategic pillars include platform superiority, operational excellence, and collaborative innovation [12] - The company has initiated a significant restructuring to enhance scalability and customer focus [10] Management's Comments on Operating Environment and Future Outlook - Management believes that execution challenges are largely solvable and that improving operating effectiveness will unlock scalable long-term growth [14] - The company aims to achieve non-GAAP adjusted EBITDA profitability while maintaining long-term growth [17] - Management remains confident in the company's strategy and market position despite current challenges [26] Other Important Information - The company has executed over $10 million in annualized cost savings to improve cash flow and return to profitability [23] - The company ended the quarter with $125.6 million in cash and no debt, providing a strong balance sheet for future operations [24] Q&A Session Summary Question: Do the $10 million savings represent the full benefit expected? - The $10 million savings are actions taken in April, and the full effect will be seen in Q3 [28] Question: Is the sales organization build-out sufficient for scalability? - The initial build-out is complete, but new salespeople require time to ramp up [29] Question: How much of the organizational changes are on hold due to the CEO search? - The company is not pausing any changes; the strategy is well evolved and will continue to be executed [32] Question: What are the qualities sought in the new CEO? - The new CEO should have a proven track record in operational execution within a recurring revenue business at scale [37] Question: How is the company addressing potential tariff impacts? - The company has a potential $2 million exposure related to tariffs and is evaluating changes in manufacturing locations to mitigate costs [42] Question: When will the benefits of the go-to-market team be evident? - The timeline is uncertain due to various factors, but 2025 is expected to be a foundation-building year with some growth [44]

Core Insights - Linkind has launched its Matter smart light bulbs exclusively at Walmart, with a portion of sales supporting charitable initiatives through a partnership with influencer Jimmy Darts [1][3][4] Product Features - The Matter smart light bulbs are available in 1,598 Walmart stores, featuring a special Jimmy Darts label to promote kindness [3] - The bulbs offer dual-mode Wi-Fi and Bluetooth connectivity, ensuring a stable connection with a 99.5% first-try setup success rate [4] - They integrate seamlessly with major smart home platforms including Apple HomeKit, Google Home, Amazon Alexa, and Samsung SmartThings [5] - The lighting solution includes music-responsive features, allowing dynamic synchronization with music for enhanced ambiance [6] - Users can customize lighting with 16 million colors and adjustable white tones from 1,800K to 6,500K, along with 104 preset lighting modes [7] Innovative Technology - Linkind has introduced the Light Show feature, enabling cross-category synchronization among various smart lighting products [8] - The Light Show allows users to create and share personalized lighting effects, enhancing user engagement and creativity [9] Product Specifications - The Matter smart bulbs come in various models with different specifications, including brightness levels, power consumption, and compatible fixtures [11][12] - The bulbs are designed for diverse usage scenarios, from ambient lighting in living rooms to precise lighting in workspaces [12] Availability - Linkind Matter smart lighting products are currently available at Walmart stores and online at walmart.com [13] Company Background - Linkind, a brand under AiDot, focuses on innovative and eco-conscious lighting solutions, aiming to enhance user convenience and experience [14]

Financial Performance - Q4 2024 total revenue was $354 million, a 41% year-over-year decrease, primarily due to lower volumes in Units Shipped and New Units Deployed[11, 14] - Full year 2024 total revenue was $1748 million, a 26% year-over-year decrease, also due to lower New Units Deployed[15] - Q4 2024 SaaS revenue grew 17% year-over-year, reaching $516 million[11, 19] - Full year net loss was $(329) million[11] - Full year Adjusted EBITDA improved to $(99) million from $(192) million in the prior year, reflecting operational efficiencies[11] - The company repurchased approximately 30 million shares for $51 million in Q4, with $216 million remaining in the authorized program[21] - Cash reserves as of December 31, 2024, were $143 million[11, 21] Operational Metrics - Units Deployed grew by 12% year-over-year, reaching approximately 809K units at the end of 2024[11, 17] - Q4 SaaS ARPU improved from $550 in the same quarter of the prior year[11] - Customer Net Revenue Retention was 111% as of December 31, 2024[17] - Customer Churn was 007% as of December 31, 2024[17] Strategic Initiatives - The company welcomed Shane Paladin as the new CEO to lead the next phase of growth and accelerate the SaaS transformation[18]