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 Technologies (NASDAQ: SKYX) has announced a collaboration with Home Depot to offer its advanced and smart plug & play products. The partnership will include a variety of SKYX's products such as retrofit kits, smart light fixtures, smart ceiling fans, ceiling outlet receptacles, and recessed lights. A large assortment of these products is expected to be available on Home Depot's website in the coming months, with some advanced and smart plug & play retrofit kit products arriving in select stores and online as fixture upgrades.
SKYX, a disruptive smart platform technology company with over 94 issued and pending patents globally, views this collaboration as a significant growth opportunity that could have a substantial impact on their business. The company's technology offers products for both retail and professional segments, potentially expanding their market penetration through Home Depot's extensive reach in these industries.
SKYX Technologies (NASDAQ: SKYX) has announced the commencement of production for its new globally patented advanced, smart, plug & play recessed light. This product is expected to significantly contribute to the company's growth within the multi-billion-unit global recessed light market. The product, which holds patents in the U.S., China, Canada, Hong Kong, and Mexico, aims to simplify installation and enhance safety by eliminating hazardous electrical wiring. The lights can be controlled via SKYX’s app, voice control, and phone, compatible with Apple’s Siri, Amazon Alexa, Google Home, and Samsung. SKYX's total addressable market (TAM) exceeds $500 billion, supported by over 94 issued and pending patents. This includes 36 patents related to their advanced Plug and Play and smart home platform technologies.
SKYX Technologies (NASDAQ: SKYX) has announced the issuance of six new patents covering its advanced smart plug-and-play ceiling fan and heater, expanding its global patent portfolio. These patents have been granted in the U.S., China, India, Europe, Canada, and Mexico.
The company now holds over 94 issued and pending patents, with 36 of them already issued. This strengthens SKYX's position in the smart home, AI sensors, and home safety sensor markets. The new patents support SKYX's mission to enhance home and building safety and intelligence standards, addressing a total addressable market (TAM) of over $500 billion.
Founder and Executive Chairman Rani Kohen highlighted that these additions further solidify SKYX's intellectual property and its role as a leading provider of smart home platform technologies.
SKYX Platforms reported record first quarter 2024 sales of $19.0 million, up from $18.6 million in Q1 2023. The company holds over 90 patents and collaborates with major global manufacturers. Cash reserves declined to $19.8 million from $22.4 million year-on-year. Despite increased sales and marketing expenses, net loss grew to $9.7 million from $8.0 million. Initiatives include expanding into builder segments and signing a 5-year global licensing deal with GE. SKYX aims to penetrate the U.S. and Canadian markets with its smart home platform technologies, expecting significant growth in the coming year.
SKYX Platforms Corp. announces a corporate update call to discuss first quarter 2024 financial results. The call will feature key members of the company's leadership team. SKYX is a disruptive platform technology company with numerous patents and a focus on home safety and smart technology.
SKYX Platforms Corp. (NASDAQ: SKYX) will be a main event at TheRealDeal New York City Real-Estate Forum & Developer Showcase, showcasing its patented smart home technologies. The company aims to enhance its market penetration by presenting its game-changing smart home platform to high-end real-estate developers and industry professionals.
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