Monday, June 23, 2025

SKYX Achieves Record $20.1 Million in First Quarter 2025, Up from $18.9 Million in Q1 2024, as Market Penetration of Advanced Smart Platform Products Expands in U.S. and Canadian Markets

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SKYX Platforms Corp. (NASDAQ: SKYX) reports a promising outlook as it anticipates its products will reach 30,000 homes across the U.S. and Canada by the end of Q2 2025. The company is on track to achieve cash flow positivity in the second half of 2025, bolstered by a significant $15 million funding round led by The Shaner Group, which includes $4 million from strategic investors. Notably, SKYX has also seen a 17% reduction in general and administrative expenses and improvements in gross margin and profit in Q1 2025 compared to Q4 2024. With ongoing collaborations with major retailers like Home Depot and Wayfair, alongside strategic manufacturing partnerships, SKYX is well-positioned to further penetrate the market and enhance safety standards within the electrical outlet industry, aiming to reduce insurance costs by mitigating risks such as fires and electrocutions.

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