SkyPlug
Search documents
SKYX Provides Corporate Update including New Product Launches, NVIDIA Collaboration, and $29 Million in Recent Investments from Fundamental Institutions
Globenewswire· 2026-02-19 15:00
Core Insights - SKYX Platforms Corp. has announced a collaboration with NVIDIA AI Ecosystem Connect Program, aiming to enhance its smart home projects and technologies [1] - The company has launched its patented SKYFAN and Turbo Heater at major U.S. retailers, including Home Depot, Target, Walmart, and Lowe's, and expects significant growth in these product lines [1] - SKYX has reported a consistent revenue increase for seven consecutive quarters and anticipates further growth and business opportunities in 2026 [1][2] Financial Performance - As of September 30, 2025, the company reported $13 million in cash and equivalents, and has since raised over $33 million, including a $25 million investment at $2.50 per share [2] - The company has extended $13.5 million in notes due until 2030, strengthening its balance sheet for growth initiatives [2] - SKYX expects to deploy over 100,000 products into homes and units by the end of 2026 through retail and professional segments [2] Product Development and Market Expansion - The company is launching an AI-driven software for its e-commerce platform, projected to increase conversion rates and sales by up to 30% [2] - SKYX has secured strategic manufacturing partnerships globally, including in the U.S., Vietnam, Taiwan, China, and Cambodia [3] - The company aims to deploy over 1 million units of its smart home technologies in various upcoming projects, including a $4 billion smart city in Miami and developments in Saudi Arabia and Egypt [1] Safety and Standardization Efforts - SKYX's Safety Code Standardization Team is making progress towards mandatory safety standards for its ceiling outlet technology, supported by industry veterans [7] - The company believes its products can significantly reduce costs for insurance companies by minimizing risks such as fires and electrocutions [7] - SKYX's technologies are positioned to become a standard feature in homes and buildings, with a total addressable market in the U.S. estimated at $500 billion [7]