Technology platform company SKYX Platforms Corp. reported record first-quarter revenue of $20.1 million, marking a 6% year-over-year increase driven by smart and standard plug & play product sales. The company's financial results show promising growth, with gross profit rising to $5.7 million and net loss per share narrowing to ($0.09).
Strategic collaborations with major retailers and home manufacturers, including Home Depot, Wayfair, and Cavco Homes, are positioning SKYX for broader market penetration. The company successfully raised $4 million in new equity as part of a $15 million financing round led by The Shaner Group and company insiders.
SKYX's management remains confident in its growth trajectory, projecting positive cash flow in 2025. The company aims to reach 30,000 homes with its smart platform technologies by the end of the second quarter, expanding its presence across the United States and Canada.
The company's portfolio of over 97 U.S. and global patents underscores its commitment to developing advanced, safe, and smart technologies for homes and buildings. By focusing on high-quality, user-friendly products that enhance safety and lifestyle, SKYX is positioning itself as a potential standard-setter in home technology infrastructure.
