Skkynet Continues Strong Growth with Q2 2022 Financial Results
Skkynet Cloud Systems (OTCQB: SKKY) announced its financial results for Q2 2022, reporting a 20.6% increase in revenue, reaching US$540,093 compared to US$447,972 in Q2 2021. However, the company faced a comprehensive loss of US$19,475, a shift from a gain of US$26,373 last year. CEO Andrew Thomas noted a resurgence of delayed projects post-pandemic, while President Paul Thomas highlighted a focus on high-growth sectors and strong cybersecurity demand. Skkynet's product suite supports secure data integration for the Internet of Things.
- 21% year-over-year revenue increase.
- Strong momentum as delayed projects resume post-pandemic.
- Focus on building industry partnerships in high-growth sectors.
- Comprehensive loss of US$19,475 compared to a gain of US$26,373 last year.
Positive outlook for future growth with
Mississauga, Ontario, June 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended April 30, 2022. The Company reported a record second quarter revenue of US
“Skkynet’s Q2 2022 results maintain our continuous revenue growth over the last 24 months. We’re seeing strong momentum in the market as projects delayed by the pandemic are now coming back on-line,” stated Andrew Thomas, CEO. “There is also a significant demand for cybersecurity solutions, as well as the need for OT/IT data collaboration.”
“We continue to focus on building new industry partnerships and targeting high-growth industrial sectors,” said Paul Thomas, President of Skkynet. “With travel and in-person conferences resuming, we are seeing a significant increase in activity.”
Skkynet’s products and services—DataHub software for in-plant, Skkynet DataHub service for Microsoft Azure, SkkyHub cloud service, and ETK for embedded devices—provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. Secure by design, Skkynet’s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industry 4.0. For more information, visit: https://skkynet.com/investors/
About Skkynet
Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader and innovator in real-time information systems. Skkynet’s leading-edge platform includes the award-winning SkkyHub™ service, DataHub® middleware, Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit (ETK) software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet’s platform is uniquely positioned for the “Internet of Things” and “Industry 4.0” because unlike the traditional approach for networked systems, Skkynet’s architecture is secure by design.
Safe Harbor
This news release contains “forward-looking statements” as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Skkynet assumes no obligation to update the forward-looking statements. Although Skkynet believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Skkynet’s annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.
Contact
Skkynet Cloud Systems, Inc.
Paul E. Thomas, President
Tel: (888) 702-7851
Web: https://skkynet.com
Email: ir@skkynet.com
FAQ
What were Skkynet Cloud Systems' Q2 2022 revenue results?
What is the comprehensive loss reported by Skkynet for Q2 2022?
How is Skkynet positioned for future growth?
What is the stock symbol for Skkynet Cloud Systems?
