SKYX Platforms Achieves Record Q1 Revenue, Expands Smart Home Technology Footprint
TL;DR
SKYX Platforms (NASDAQ: SKYX) achieved a record Q1 2025 revenue of $20.1 million, expanding market penetration with strategic collaborations.
SKYX Platforms focuses on making homes and buildings safe-advanced and smart as the new standard through disruptive technologies and global patents.
SKYX Platforms' emphasis on high quality and safety in homes enhances lifestyle, contributing to a better future with positive cash flow expectations in 2025.
SKYX Platforms' products are reaching 30,000 homes by Q2, scaling across the U.S. and Canada, with $4 million raised in new equity and notable collaborations.
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Technology company SKYX Platforms Corp. announced record first quarter revenues of $20.1 million, representing a 6% year-over-year increase driven by robust sales of smart and standard plug & play products. The company's financial performance showed promising signs of 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 helping SKYX accelerate 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 advanced-safe-smart platform technologies by the end of the second quarter, with expansion plans spanning the United States and Canada.
With over 97 U.S. and global patents and patent pending applications, SKYX is positioning itself as a potential leader in smart home technology. The company's innovations focus on enhancing home safety and lifestyle through easily integrated technological solutions that could transform residential electrical infrastructure.
Curated from InvestorBrandNetwork (IBN)
