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.
Overview of SKYX Platforms Corp
SKYX Platforms Corp is a technology company that specializes in the development and commercialization of advanced plug & play electrical fixture solutions. The company has developed a proprietary technology that includes a weight-bearing, fixable socket and a corresponding revolving plug that jointly provide a safe, quick, and efficient method for installing electrical fixtures such as light fixtures and ceiling fans. With a significant portfolio of patents both in the United States and internationally, SKYX Platforms has positioned itself as a key innovator in electrical connectivity and building safety technology.
Core Technology and Operations
The heart of SKYX Platforms’ offering is its safe, advanced, and smart platform technology. This technology combines nonconductive bodies housing conductive rings within both the socket and the plug components, ensuring that electrical power can be securely transmitted to attached appliances. The design is intended to simplify the installation process in buildings, reducing the time and cost associated with traditional electrical installations. Emphasizing user safety and ease of use, the platform minimizes wiring complexities and promotes a more efficient, streamlined approach to home and commercial building installations.
Market Presence and Business Model
SKYX Platforms operates primarily within the United States while extending its technology through strategic partnerships and collaborations internationally. The company generates revenue by integrating its hardware solutions into various segments, including residential, hospitality, retail, and commercial infrastructures. Its extensive network of over 60 home décor and lighting websites provides a direct channel for reaching both retail consumers and professional installers. By targeting sectors where safety and advanced design are paramount, such as high-end real estate and the professional builder segment, SKYX demonstrates a robust and diversified approach in its business model.
Industry Applications and Competitive Differentiation
The company’s technology is applicable across several segments:
Residential Installations: Ensuring ease of installation for smart, safe, and energy-efficient home lighting systems.
Commercial and Hospitality Sectors: Providing tailored solutions that meet the rigorous standards demanded by hotels, office spaces, and high-end residential properties.
Retail and E-Commerce: Leveraging its digital presence to provide a streamlined purchasing experience, aided by strategic collaborations with leading e-commerce platforms.
What sets SKYX Platforms apart is not only its disruptive technology that reduces installation time and enhances safety but also its extensive patent portfolio which acts as a barrier to entry for competitors. The company’s approach to integrating advanced smart technology with everyday building needs makes its products a definitive part of modernizing electrical infrastructures without compromising on safety or usability.
Technological Impact and Industry Terminology
Within the electrical and building technology industry, SKYX Platforms is recognized for its use of industry-specific terminology such as "smart home", "advanced plug & play", and "electrical fixture safety". The integration of these concepts into its platform underscores the multifaceted value proposition that combines innovation with operational efficiency. This approach aligns with the current demands for high-quality, reliability-focused, and safe electrical connectivity solutions.
Operational Excellence and Strategic Partnerships
SKYX Platforms’ operational model is bolstered by key strategic investments and collaborative efforts with partners in the hospitality, retail, and construction sectors. These partnerships enhance their market penetration and validate the technological disruption achieved by their products. By aligning with industry stalwarts and leveraging both technological and manufacturing expertise, the company positions itself as a critical contributor to the evolving landscape of smart, safe, and efficient building solutions.
Conclusion
Overall, SKYX Platforms Corp exemplifies an innovative integration of smart technology into traditional electrical wiring and fixture installation. Their proprietary solutions provide not only a significant improvement in installation efficiency and safety but also reimagine the way electrical systems are implemented in modern homes and buildings. For anyone evaluating technological advancements in the electrical installation sector, SKYX Platforms offers a comprehensive, well-integrated system that underscores its commitment to advancing safety standards and enhancing everyday living environments.
SKYX Technologies (NASDAQ: SKYX) has announced a strategic manufacturing partnership with Profab Electronics, a Florida-based electronic contract manufacturer. The collaboration aims to establish U.S.-based production capabilities for SKYX's innovative product lines.
Profab Electronics operates a 60,000 SQF manufacturing facility in Pompano Beach, Florida, offering services including new product introduction, production assembly, robotic inventory management, and integrated supply chain services. With over 40 years of experience, Profab specializes in high-quality electronic contract manufacturing with advanced automation capabilities.
SKYX, a disruptive smart home platform technology company, holds more than 97 issued and pending patents globally and manages a portfolio of over 60 lighting and home décor websites. This partnership represents SKYX's commitment to building a resilient, localized supply chain while maintaining high quality and safety standards.
SKYX Platforms Corp. (NASDAQ: SKYX) reported strong financial results for 2024, with revenue growing 48% to $86.3 million from $58.8 million in 2023. The company demonstrated consistent quarterly growth throughout 2024: Q1: $19M, Q2: $21M, Q3: $22.2M, and Q4: $23.7M.
Key financial metrics include: cash position of $15.5 million as of December 31, 2024, reduced G&A expenses by $5.7 million, and decreased net loss per share to ($0.36) from ($0.45) in 2023. The company secured $11 million in preferred stock investment led by Shaner Group.
SKYX expects significant expansion with its advanced and smart home products projected to be in 20,000 units/homes by Q1 2025, with tens of thousands more anticipated throughout 2025. The company maintains strategic collaborations with major retailers including Home Depot and Wayfair, and anticipates becoming cash flow positive in the second half of 2025.
SKYX Technologies (NASDAQ: SKYX), a smart home platform technology company with over 97 patents and 60+ lighting/home décor websites, has scheduled a Corporate Update call for Monday, March 24, 2025, at 4:30 PM ET. The call will cover Q4 2024 and full-year 2024 financial results and corporate updates.
Key executives participating include:
- Rani Kohen - Founder and Executive Chairman
- Steve Schmidt - President (Former President of Nielsen Data )
- Lenny Sokolow - Co-CEO
- Marc Boisseau - CFO
The call will be accessible via U.S./Canada dial-in (1-412-317-5180), International dial-in (1-844-825-9789), and webcast. A playback will be available until April 24, 2025.
SKYX Technologies (NASDAQ: SKYX) reported record pre-audited Q4 2024 revenues of $23.7 million, showing consistent quarterly growth throughout 2024 from Q1's $19M to Q4's $23.7M. The company secured an additional $1 million in preferred funding, bringing total strategic funding to $12 million, led by The Shaner Group.
Key developments include: expecting product installation in 20,000 homes/units by Q1 2025; appointment of former Amazon executive Huey Long to head e-commerce; collaboration with Cavco Homes for smart technology integration; partnership with Forte Developments for 12,000+ product installations; and strategic alliance with Wayfair for smart plug & play products.
The company strengthened its leadership with Greg St. John as President of Lighting, Fans, and Smart Home Products, and received significant insider investments including $500,000 from President Steve Schmidt and $250,000 each from Co-CEOs.
SKYX Platforms Corp. (NASDAQ: SKYX) has announced the appointment of Huey Long, former Amazon E-Commerce Director, as the new leader of its e-commerce platform. Long brings over 28 years of experience from leadership roles at major retailers including Walmart, Ashley Furniture, and Amazon, where he led the Amazon Basics private brand initiative.
Long will collaborate with SKYX's existing e-commerce team to expand sales and market penetration of the company's advanced and smart home plug & play technologies across U.S. and Canadian markets. The company, which owns more than 97 issued and pending patents globally and manages over 60 lighting and home décor websites, aims to leverage Long's expertise in e-commerce, omnichannel retail, and global sourcing.
SKYX Platforms Corp. (NASDAQ: SKYX) announces collaboration with Cavco Industries, a leading U.S. prefabricated home manufacturer, to implement SKYX's advanced and smart plug & play technologies in Cavco's premium homes. The partnership will debut at the International Builders' Show (IBS) in Las Vegas from February 25-27, 2025, featuring Cavco's high-end models including Skye View and Bungalow.
Cavco, which has sold nearly one million homes since inception and currently sells approximately 20,000 units annually, will integrate SKYX's technology to enhance safety, smart capabilities, and time efficiency in their premium prefabricated homes. The collaboration aims to establish SKYX's platform as a new construction standard, offering instant smart home capabilities while reducing costs for developers and adding value for homeowners.
SKYX Platforms Corp. (NASDAQ: SKYX) has announced a partnership with Forte Developments to supply smart technologies for three upcoming luxury projects. The deal encompasses an 80-story high-rise in Miami's Brickell district, two buildings in Clearwater Beach, and a project in Jupiter, Florida, totaling over 400 luxury units.
SKYX will deliver more than 12,000 smart and plug & play products, including ceiling outlet receptacles, lighting solutions, ceiling fans, recessed lights, EXIT signs, emergency lights, and indoor/outdoor wall lights. Product delivery is scheduled to begin in the second half of 2025.
The company's technology platform offers potential for recurring revenues through upgrades, interchangeability, monitoring, and subscriptions. SKYX holds over 97 issued and pending patents globally and operates more than 60 lighting and home décor websites.
SKYX Platforms Corp. (NASDAQ: SKYX) has appointed Greg St. John, former head of Home Depot's indoor lighting category, as President of Lighting, Fans and Smart Products. St. John, who previously served as CEO of leading lighting companies Eglo and Cordelia Lighting, brings over 30 years of industry experience to SKYX.
In his new role, St. John will lead SKYX's expansion in lighting, fans, and smart home products across major retail channels, homebuilders, hotels, and commercial projects. He will also manage strategic collaborations with industry leaders like Home Depot and Wayfair. His extensive background includes executive leadership roles in major U.S. and global lighting brands, with expertise in product development, sales, marketing, merchandising, sourcing, and smart lighting solutions.
SKYX Platforms Corp. (NASDAQ: SKYX), a smart platform technology company with over 97 issued and pending patents globally, will present at the inaugural LD Micro Summit on February 4, 2025, at the Lago Mar Beach Resort & Club in Fort Lauderdale, Florida.
The presentation is scheduled for 3:20 PM ET, where Rani Kohen, Founder, Inventor, and Executive Chairman, along with Lenny Sokolow, Co-CEO, will discuss the company's vision, corporate developments, and opportunities. SKYX operates over 60 lighting and home décor websites, focusing on making homes and buildings smart, safe, and advanced as the new standard.
The LD Micro Summit is a premier event connecting influential micro-cap companies with investors. Interested investors can schedule meetings with SKYX management through their investor relations team.
SKYX Platforms Corp. (NASDAQ: SKYX) has announced it will begin supplying products to developer Jeremiah Baron Companies, starting with 140 commercial units in January 2025. This represents the initial phase of a larger project expected to encompass 1,000 mixed-use residential and commercial units in Florida.
The company will supply various products including ceiling outlet receptacles, smart plug & play platform products, lighting solutions, ceiling fans, recessed lights, EXIT signs, emergency lights, and indoor/outdoor wall lights. The project will involve the delivery of tens of thousands of SKYX's advanced and smart platform technology products throughout the construction period.
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