SKYX · SKYX Platforms Corp.

SKYX Platforms Corp. delivered its strongest Q1 performance with record revenues of $22 million, a 10% increase from $20 million in Q1 2025, extending a streak of 9 consecutive YoY growth quarters. This growth reflects accelerating market penetration through e-commerce across 60 websites, leveraging the 'Dell Working Capital Model' for rapid cash conversion, and expansion into retail channels like Home Depot, Target, Walmart, and Lowe’s with products such as the patented Turbo Heater Fan. Gross profit surged 16% to $7 million, with margins expanding 200 basis points to 30%, signaling improved cost efficiencies and pricing power amid scaling operations. Net loss per share narrowed to $0.07 from $0.09, and adjusted EBITDA loss per share improved to $0.03 from $0.04, underscoring progress toward profitability. The balance sheet strengthened markedly, with cash, cash equivalents, and restricted cash ballooning to $32 million from $10 million at December 31, 2025, fueled by $29 million in straight equity raises from institutional investors at $2.00-$2.50 per share, providing ample liquidity. Management expresses confidence in achieving cash flow positivity by year-end 2026. Operationally, a pivotal strategic partnership with Group OTT, a European developer of over 250 hotels and buildings, positions SKYX technologies as a brand standard, starting with The Grand Hotel du Parc renovation in France and extending to hundreds of properties amid 124,000 new European hotel rooms in 2026. Additional agreements target the 132,000-hotel market, while U.S. projects in Miami's $4B smart city, New York, Texas, and beyond anticipate over 1 million unit deployments. Collaborations with NVIDIA AI and safety code advancements led by NEC veterans further enhance long-term recurring revenue potential from AI services, subscriptions, and mandated ceiling outlet standardization.