SKYX Platforms Corp. (NASDAQ: SKYX) announced record second-quarter 2026 revenue of $25.3 million, a 14% increase from $22.1 million in the first quarter and a 10% rise from $23.1 million in the same period last year. This marks the company’s 10th consecutive quarter of year-over-year revenue growth, underscoring sustained demand for its advanced, safe, and smart home technologies.
The company’s gross profit grew 4% year over year to $7.3 million. Net loss narrowed to $8.2 million, or $0.06 per share, compared to $8.8 million, or $0.08 per share, in the prior-year quarter. Operating cash flow improved significantly, with net cash used in operating activities declining 39% sequentially to $3.7 million from $6 million. As of June 30, SKYX held $27.7 million in cash, cash equivalents, and restricted cash. Management believes this liquidity is sufficient to achieve its goals, including reaching cash flow positivity as it exits 2026.
The company expects to deploy more than 1 million units through its projects and more than 100,000 units and homes through its pro and retail segments by the end of 2026. It highlighted planned and ongoing projects in the U.S., Europe, Saudi Arabia, and Egypt, along with expanded retail distribution of its patented SKYFAN and Turbo Heater products. Additionally, SKYX is developing an AI-driven system for its 60-site e-commerce platform and continues work toward safety-mandated standardization of its ceiling outlet and receptacle technology.
“We are pleased to report another record quarter, driven by strong execution across our business segments,” said a company spokesperson. “Our focus on deploying our technologies in key markets and expanding our retail presence is yielding tangible results, and we remain committed to our mission of making homes and buildings safe, advanced, and smart as the new standard.”
The company’s portfolio includes over 100 U.S. and global patents and patent-pending applications, covering disruptive technologies for the lighting and home decor sectors. SKYX owns 60 websites serving both retail and commercial segments, with a strong emphasis on high quality and ease of use. The company’s products aim to enhance safety and lifestyle in homes and buildings, and it believes they are a necessity in every room globally.
This announcement is significant for the industry as it demonstrates the growing adoption of smart home technologies and the potential for companies like SKYX to achieve profitability while scaling operations. The company’s focus on international projects and AI integration positions it to capitalize on the increasing demand for connected, safe, and energy-efficient living solutions.
For more information, visit the full press release at https://ibn.fm/WjxWu and the company’s newsroom at https://ibn.fm/SKYX.
