Welcome to our dedicated page for SKYX Platforms news (Ticker: SKYX), a resource for investors and traders seeking the latest updates and insights on SKYX Platforms stock.
SKYX Platforms Corp. (NASDAQ: SKYX) is an innovative company focused on developing proprietary technology that revolutionizes the installation of electrical fixtures such as light fixtures and ceiling fans. SKYX's advanced technology features a weight-bearing, fixable socket and a revolving plug designed for quick and secure installation, enhancing safety and convenience in homes and buildings.
At the core of their technology is a nonconductive socket body housing conductive rings, which connect to an electric power supply via side terminals. This system supports easy plug-and-play installation, allowing for safe and efficient connection of electrical appliances to walls or ceilings. The plug, also nonconductive, houses corresponding conductive rings and attaches to the socket through a male post, ensuring a reliable power feed to attached devices.
SKYX Platforms Corp. is not only at the forefront of smart home technology but also an award-winning innovator. The company has garnered multiple accolades, including seven CES awards for its cutting-edge solutions in 2023 and 2024. SKYX's platform offers high-end, safe, and time-saving smart home solutions that can significantly enhance real estate value for both developers and homeowners. The smart platform includes features like scheduling, eco/energy-saving modes, smoke and carbon monoxide detection, premium smart speakers, Wi-Fi repeaters, and intercom capabilities. The technology integrates seamlessly with major smart home ecosystems such as Apple Siri, Amazon Alexa, Google Home, and Samsung SmartThings.
In recent news, SKYX is set to showcase its patented technologies at the International Builders' Show (IBS) in Las Vegas from February 27-29, 2024. This event, organized by the National Association of Home Builders (NAHB), is the largest annual construction show globally and will highlight SKYX's collaboration with leading lighting manufacturers KICHLER and QUIZEL. The company's participation at IBS underscores its commitment to enhancing market penetration and demonstrating its innovative solutions to industry leaders worldwide.
SKYX Platforms Corp.'s financial health is robust, with $22.4 million in cash, cash equivalents, and investments as of December 31, 2023, marking a notable increase from the previous year. The company continues to make strategic investments in sales and marketing to bolster its presence in both the retail and professional segments. SKYX remains dedicated to its mission of making homes and buildings smart and safe, setting new standards in the industry.
SKYX Platforms Corp (NASDAQ: SKYX) has announced a new collaboration with JIT Electrical Supply, a leading supplier that has provided electrical products to over 100,000 U.S. homes. Under this partnership, SKYX will supply JIT with its advanced and smart Plug & Play products, including lighting fixtures, ceiling fans, recessed lights, EXIT signs, emergency lights, and various indoor and outdoor lighting solutions.
The implementation is scheduled to begin in early 2025, aiming to enhance SKYX's presence in the builder and professional segments. JIT's CEO Bob Hill highlighted SKYX's technology as the most disruptive advancement in the lighting industry since LED, emphasizing its safety features, time and cost savings, and smart home capabilities.
SKYX Platforms Corp (NASDAQ: SKYX), a smart platform technology company with over 97 issued and pending patents globally, announced its participation in The Benchmark 13th Annual Discovery One-on-One Investor Conference. Founder Rani Kohen and Co-CEO Lenny Sokolow will present on December 11, 2024, at 3:30 PM ET in the New York Athletic Club's 9th Floor Ballroom. The company, which operates over 60 lighting and home décor websites, will also engage in one-on-one investor meetings throughout the conference.
SKYX Platforms Corp (NASDAQ: SKYX), a smart platform technology company with over 97 patents and 60 lighting and home décor websites, announced its participation in NobleCon20. Founder Rani Kohen and President Steve Schmidt will present on December 3, 2024, at 1:30 PM ET, while CEO Lenny Sokolow will join them for investor meetings during the conference.
The presentation will take place at Florida Atlantic University's College of Business Executive Education Complex. A video webcast will be available post-presentation on SKYX's website, Noble Capital Markets' Conference website, and Channelchek investor portal. The conference runs December 3-4 in Boca Raton, Florida.
SKYX Platforms Corp. (NASDAQ: SKYX), a platform technology company with over 97 pending and issued patents globally and 60+ lighting and home décor websites, announced its participation in the 13th Annual ROTH Technology Conference at the Hard Rock Hotel in New York City, November 19-20, 2024. Founder and Executive Chairman Rani Kohen and Co-CEO Lenny Sokolow will conduct one-on-one meetings with institutional investors and analysts. Interested parties can arrange meetings through ROTH MKM Representatives or contact SKYX's investor relations team directly.
SKYX Platforms Corp. (NASDAQ: SKYX) reported record third-quarter revenues of $22.2 million, up from $21.6 million in Q3 2023. The company raised $11 million in equity in October 2024, and as of September 30, 2024, had $13 million in cash and equivalents, down from $15.6 million as of June 30, 2024. Net cash used in operating activities decreased by 39% to $2.6 million compared to $4.2 million in Q2 2024. Gross profit increased by 4% to $6.8 million compared to the previous quarter. The company expects its products to be in nearly 15,000 U.S. and Canadian homes by the end of 2024 and tens of thousands more in 2025. SKYX has formed collaborations with Home Depot, Wayfair, and General Electric, among others. The company also won 7 CES Awards and has over 97 issued and pending patents. Management aims to achieve cash flow positivity in 2025.
SKYX Technologies (NASDAQ: SKYX), a smart platform technology company with over 97 issued and pending patents globally, announced it will host a Corporate Update call and present third quarter 2024 financial results on Tuesday, November 12, 2024, at 4:30 PM ET. The company, which owns over 60 lighting and home décor websites, will have key executives participating including Founder Rani Kohen, President Steve Schmidt, Co-CEO Lenny Sokolow, and CFO Marc Boisseau. A playback will be available until November 19, 2024.
SKYX Platforms Corp. (NASDAQ: SKYX) announced its participation as a main event at The Real Deal Miami Experience on November 6-7, 2024, at the Mana Wynwood Convention Center. The company will showcase its patented smart home technology platform, which has garnered 7 CES Awards. SKYX's technology, supported by over 97 issued and pending patents globally, enables instant smart home capabilities for builders. The company will present at the Innovation Stage, targeting high-end real-estate developers and industry professionals as part of its market penetration strategy in the US and Canada.
SKYX Platforms Corp. (NASDAQ: SKYX) has announced a collaboration with Wayfair, a leading home décor website, to offer its advanced and smart plug & play lighting products. The collaboration will include a variety of SKYX's products such as retrofit kits, smart light fixtures, ceiling fans, recessed lights, and ceiling outlet receptacles. These products are expected to be available on Wayfair's website in the coming weeks.
Steve Schmidt, President of SKYX, views this collaboration as a significant growth opportunity for both companies, highlighting the game-changing nature of SKYX's products for retail and professional segments. Rani Kohen, Founder and Executive Chairman of SKYX, emphasized the importance of this partnership in enhancing market penetration for both retail and professional channels, including architects, designers, and home decorators.
SKYX Technologies, a smart platform technology company, has provided a corporate update highlighting significant developments. The company has secured an $11 million equity preferred stock investment at $2.00 per share, led by a global Marriott Hotel chain developer. Notable insider investments include $500,000 from President Steve Schmidt and $250,000 each from Co-CEOs Lenny Sokolow and John Campi.
SKYX reported 2023 sales of $58 million and a record Q2 2024 sales of $21.4 million. The company has a U.S. total addressable market of $500 billion with over 4.2 billion ceiling applications. SKYX has announced collaborations with major companies including Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel, and EGLO. The company's smart home technology has won 7 CES Awards, and its safety applications have been voted into 10 segments of the National Electrical Code Book.
SKYX Platforms Corp. (NASDAQ: SKYX) has secured an $11 million strategic investment through a new class of preferred stock, convertible at $2.00 per common share with an 8% annual dividend. The investment is led by Lance Shaner, Chairman & CEO of Shaner Hotel Group, a global Marriott hotel-chain developer owning over 60 hotels. This investment includes participation from other strategic and key SKYX investors.
SKYX management emphasizes having sufficient cash to achieve its goals, including recently announced collaborations and becoming cash flow positive during 2025. The company, with over 97 issued and pending patents globally and 60+ lighting and home décor websites, views this as a significant confirmation of its value proposition for hotels, buildings, and homes.
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