SKYX Reports First Quarter Earnings: Revenue Reaches $20.1 Million, Growth in Smart Home Technology Sales

Posted in

May 14, 2025

SKYX Platforms Corp (NASDAQ: SKYX) has announced a record revenue of $20.1 million for Q1 2025, a 6% increase from $18.9 million in the same period last year. The company successfully secured $4 million in preferred stock funding as part of a larger $15 million financing round led by The Shaner Group. Notable financial improvements include a 17% reduction in general and administrative expenses and a 4.8% increase in gross margins. However, SKYX reported a net loss of $0.09 per share. Looking ahead, the company anticipates its products will reach 30,000 homes in the U.S. and Canada by mid-2025 and projects a path to positive cash flow in the latter half of the year, bolstered by partnerships with major retailers like Home Depot and Wayfair.

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SKYX Reports First Quarter Earnings: Revenue Reaches $20.1 Million, Growth in Smart Home Technology Sales

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