Miami, Florida, October 10th, 2025, FinanceWire
SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (“SKYX” or the “Company”), a disruptive platform technology company with more than 100 issued and pending patents and over 60 lighting and home décor websites, today provided a corporate update highlighting continued growth momentum, new investments, and expanding adoption across builder segments.
Key Developments
- SKYX raised an additional $3.25 million in September from an existing lead investor, following $15.7 million in cash and cash equivalents as of June 30, 2025.
- The Company successfully demonstrated its plug-and-play smart technologies during a Marriott Hotel renovation, including ceiling lighting, recessed lights, emergency lighting, and LED mirrors.
- SKYX will supply more than 10,000 advanced smart plug-and-play technologies to a 278-apartment project in Austin, Texas, developed by Landmark Companies.
- SKYX expects to deploy over 500,000 smart home products at Miami’s $3 billion Urban Smart Home City project, led by SG Holdings and designed by Arquitectonica.
- The Company continues to expand its partnerships with leading developers and distributors, including Forte Developments, Jeremiah Baron Companies, and JIT Electrical Supply.
- SKYX’s Safety Code Standardization Team has gained support from a new influential leader working with key government safety organizations.
- The Company is preparing for a winter launch of its turbo heater and ceiling fan products, targeting cash flow positivity in 2025.
Financial Highlights
- Revenue increased for six consecutive quarters, reaching $23.1 million in Q2 2025.
- Gross profit rose 23% sequentially to $7.0 million, with gross margin improving to 30.3%.
- Net cash used in operations decreased by 54% sequentially to $2.0 million.
- Over the past year, SKYX has raised $15 million from strategic investors, led by the global Marriott Hotel chain owner, with significant insider participation.
Manufacturing and Strategic Partnerships
SKYX announced a U.S. manufacturing partnership with Profab Electronics in Florida, adding to existing relationships in Vietnam, Taiwan, China, and Cambodia. SKYX products are also featured through major retailers such as Home Depot and Wayfair.
Safety and Standardization
SKYX’s code and safety team, led by Mark Earley and Eric Jacobson, continues to advance efforts toward mandatory safety standardization for its ceiling outlet technology, supported by ANSI/NEMA specification approvals and NEC code inclusion.
To view SKYX’s Technologies demo video, users can click Here
About SKYX Platforms Corp.
As electricity is a standard in every home and building, their mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Their technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. SKYX believe that their products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, users can visit their website at https://skyplug.com/ or follow them on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.