SKYX Platforms Corp. (NASDAQ: SKYX) reported third-quarter revenue of $25.7 million, up 7.4% from $23.9 million a year earlier, as the smart-home technology developer moved to integrate its recently completed merger with Deako and expand builder programs, according to SKYX Platforms (NASDAQ: SKYX).
The results, covering the quarter ended Sept. 30, 2026, showed gross profit rising 11% sequentially to $8.1 million, with gross margin improving to 31.4% from 28.9% in the second quarter. SKYX reported $21 million in cash, cash equivalents and restricted cash, compared with $10 million at year-end 2025. Net cash used in operating activities fell 15.5% year over year to $4.2 million, while adjusted EBITDA loss narrowed 18.7% sequentially to $2.9 million.
The company completed its merger with Deako on Oct. 13, 2026, combining ceiling-based and wall-based plug-and-play smart home technologies. The deal matters for investors and the homebuilding industry because it brings two complementary installation approaches under one roof at a time when builders are looking to standardize smart features across large residential projects. SKYX subsequently announced three builder programs with Maronda Homes, Home Creations and Stone Martin, representing more than 210,000 expected product units across more than 2,500 homes, with deliveries anticipated through 2027.
The combined SKYX and Deako pipeline is estimated at approximately 4 million units, while the merger is expected to reduce annual cash expenses by more than $6 million. Those figures suggest the transaction is intended to deliver both scale and cost savings, a combination that could strengthen the company's position as a supplier to volume builders. SKYX also highlighted expansion opportunities in hospitality projects in India, the United States and Europe, along with plans to introduce additional models of its Turbo Heater Ceiling Fan through national retail and e-commerce channels. That retail push would extend the company's reach beyond construction and into consumer channels, where brand visibility and product breadth can influence repeat purchases.
For readers and industry observers, the quarter points to a company trying to convert patent-backed technology into recurring builder relationships while managing cash use. The narrowed operating cash burn and improved margin offer a clearer picture of whether the Deako combination can translate into durable revenue. Full details are available in the full press release.
The announcement was distributed through MissionIR, part of the Dynamic Brand Portfolio at IBN. Distribution included wire access via InvestorWire and editorial syndication to 5,000+ outlets.
