SKYX Announces a Collaboration with Home Depot for its Advanced and Smart Plug & Play Products for both Retail and Professional Segments
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) ha annunciato una collaborazione con Home Depot per offrire i suoi avanzati e intelligenti prodotti plug & play. La partnership includerà una varietà di prodotti SKYX come kit di retrofit, apparecchi di illuminazione intelligenti, ventilatori da soffitto intelligenti, prese di corrente da soffitto e luci incassate. Un ampio assortimento di questi prodotti dovrebbe essere disponibile sul sito web di Home Depot nei prossimi mesi, con alcuni kit di retrofit plug & play avanzati e intelligenti che arriveranno in alcuni negozi e online come aggiornamenti degli apparecchi.
SKYX, un'azienda tecnologica piattaforma smart disruptive con oltre 94 brevetti rilasciati e in attesa a livello globale, considera questa collaborazione come un significativo opportunità di crescita che potrebbe avere un impatto sostanziale sul loro business. La tecnologia dell'azienda offre prodotti sia per il segmento retail che per quello professionale, potenzialmente espandendo la loro penetrazione di mercato grazie alla vasta portata di Home Depot in questi settori.
SKYX Technologies (NASDAQ: SKYX) ha anunciado una colaboración con Home Depot para ofrecer sus avanzados e inteligentes productos plug & play. La alianza incluirá una variedad de productos de SKYX como kits de retrofit, luminarias inteligentes, ventiladores de techo inteligentes, tomas de corriente de techo y luces empotradas. Se espera que una gran variedad de estos productos esté disponible en el sitio web de Home Depot en los próximos meses, con algunos productos avanzados y kits de retrofit inteligentes que llegarán a tiendas seleccionadas y en línea como mejoras de luminarias.
SKYX, una empresa de tecnología de plataforma inteligente disruptiva con más de 94 patentes emitidas y pendientes a nivel mundial, ve esta colaboración como una oportnidad de crecimiento significativa que podría tener un impacto sustancial en su negocio. La tecnología de la empresa ofrece productos tanto para el segmento minorista como para el profesional, expandiendo potencialmente su penetración de mercado a través de la amplia cobertura de Home Depot en estas industrias.
SKYX 기술 (NASDAQ: SKYX)는 홈디포와 협력하여 고급 스마트 플러그 앤 플레이 제품을 제공하기 위한 협업을 발표했습니다. 파트너십에는 리트로핏 키트, 스마트 조명기구, 스마트 천장 선풍기, 천장 아울렛 수용소 및 매립등 등 다양한 SKYX 제품이 포함됩니다. 이러한 제품의 다양한 assortimento는 향후 몇 달 내에 홈디포 웹사이트에서 제공될 예정이며, 일부 고급 스마트 플러그 앤 플레이 리트로핏 키트 제품은 선택된 매장 및 온라인에서 조명기구 업그레이드로 출시됩니다.
94개의 국제 특허를 발행 및 대기 중인 혁신적인 스마트 플랫폼 기술 회사인 SKYX는 이 협업을 비즈니스에 상당한 영향을 미칠 중요한 성장 기회로 보고 있습니다. 회사의 기술은 소매 및 전문 세그먼트용 제품을 제공하여 홈디포의 광범위한 도달 범위를 통해 시장 침투를 확장할 수 있는 잠재력을 가집니다.
SKYX Technologies (NASDAQ: SKYX) a annoncé une collaboration avec Home Depot pour offrir ses produits avancés et intelligents plug & play. Ce partenariat comprendra une variété de produits SKYX tels que des kits de rétrofit, des luminaire intelligents, des ventilateurs de plafond intelligents, des réceptacles de plafond et des lumières encastrées. Un large assortiment de ces produits devrait être disponible sur le site Web de Home Depot dans les mois à venir, certains produits avancés et kits de rétrofit intelligents arrivant dans certaines magasins et en ligne en tant qu'améliorations des luminaires.
SKYX, une entreprise de technologie de plateforme intelligente perturbatrice avec plus de 94 brevets délivrés et en attente dans le monde, considère cette collaboration comme une opportunité de croissance significative qui pourrait avoir un impact substantiel sur son activité. La technologie de l'entreprise propose des produits pour les segments de détail et professionnels, élargissant potentiellement leur pénétration de marché grâce à l'ample portée de Home Depot dans ces secteurs.
SKYX Technologies (NASDAQ: SKYX) hat eine Zusammenarbeit mit Home Depot angekündigt, um seine fortschrittlichen und intelligenten Plug & Play-Produkte anzubieten. Die Partnerschaft umfasst eine Vielzahl von SKYX-Produkten wie Retrofit-Kits, intelligente Lichtinstallationen, intelligente Deckenventilatoren, Deckensteckdosen und Einbauleuchten. Eine große Auswahl dieser Produkte wird in den kommenden Monaten voraussichtlich auf der Website von Home Depot verfügbar sein, wobei einige fortschrittliche und intelligente Plug & Play-Retrofit-Kits in ausgewählten Geschäften und online als Beleuchtungsupdates erhältlich sein werden.
SKYX, ein disruptives Smart-Plattform-Technologieunternehmen mit über 94 erteilten und anhängigen Patenten weltweit, betrachtet diese Zusammenarbeit als wesentliche Wachstumschance, die einen erheblichen Einfluss auf ihr Geschäft haben könnte. Die Technologie des Unternehmens bietet Produkte sowohl für den Einzelhandels- als auch für den Profisegment, was die Möglichkeit eröffnet, die Marktpenetration durch die weitreichende Reichweite von Home Depot in diesen Branchen zu erweitern.
- Collaboration with Home Depot, a world-leading home improvement retailer
- Large assortment of SKYX products to be offered on Home Depot's website
- Some products expected to be available in select Home Depot stores
- Potential for significant business growth and market penetration
- Opportunity to reach both retail and professional sales channels
- None.
Insights
The collaboration between SKYX and Home Depot represents a significant market opportunity for SKYX Technologies. As a disruptive smart platform technology company, SKYX's entry into Home Depot's ecosystem could potentially accelerate its market penetration and brand visibility. Home Depot, being a world-leading home improvement retailer, provides SKYX with access to a vast customer base in both retail and professional segments.
However, it's important to note that while the announcement is promising, several factors warrant cautious optimism:
- The exact timeline for product availability on Home Depot's website and in stores remains unclear, with phrases like "next coming months" and "expected to arrive" indicating some uncertainty.
- The scale of the initial rollout, particularly for in-store products, appears to "select stores," which may temper immediate impact.
- Financial terms of the collaboration are not disclosed, making it difficult to quantify the potential revenue impact for SKYX.
Investors should monitor key performance indicators in the coming quarters, such as changes in SKYX's revenue, market share and product adoption rates, to better assess the actual impact of this collaboration on the company's growth trajectory.
SKYX's product lineup for Home Depot showcases a comprehensive range of smart home technologies, positioning the company at the forefront of the growing smart home market. The product assortment, including retrofit kits, smart light fixtures and ceiling outlet receptacles, addresses both new construction and retrofit applications, potentially broadening market appeal.
Key technological aspects to consider:
- SKYX's plug & play technology could simplify installation, potentially reducing barriers to smart home adoption for DIY consumers.
- The company's patent portfolio (over 94 issued and pending patents) suggests a strong focus on innovation and intellectual property protection, which could provide a competitive edge.
- Integration of these products into Home Depot's ecosystem may require compatibility with popular smart home platforms, which isn't explicitly mentioned in the announcement.
While the technology appears promising, investors should be aware that the smart home market is highly competitive, with established players like Philips Hue, Lutron and others. SKYX's success will likely depend on factors such as pricing strategy, ease of use and integration capabilities with other smart home systems. The company's ability to differentiate its products and deliver on the promise of making homes "smart, safe and advanced" will be important in capitalizing on this Home Depot collaboration.
While the collaboration with Home Depot is undoubtedly a positive development for SKYX Technologies, the financial implications remain somewhat ambiguous. Here's a breakdown of the key financial considerations:
- Market Expansion: Access to Home Depot's vast customer base could significantly expand SKYX's market reach, potentially driving revenue growth.
- Revenue Diversification: The inclusion of both retail and professional segments in this collaboration may help SKYX diversify its revenue streams.
- Inventory and Production: SKYX may need to ramp up production to meet potential demand, which could impact short-term cash flow and operating expenses.
- Margins: Wholesale pricing to Home Depot may affect SKYX's profit margins compared to direct-to-consumer sales through their 60+ websites.
Investors should note that the announcement lacks specific financial projections or terms of the deal. Without these details, it's challenging to quantify the potential impact on SKYX's financials. Key metrics to watch in upcoming quarterly reports include:
- Revenue growth rate
- Gross and operating margins
- Inventory levels and turnover
- Sales and marketing expenses
While the collaboration with Home Depot is promising, investors should remain cautious and look for concrete financial results in the coming quarters to assess the true impact of this partnership on SKYX's bottom line.
SKYX will Offer a Variety of its Advanced and Smart Plug & Play Products including Retrofit Kits, Smart Light Fixtures, Smart Ceiling Fans, Ceiling Outlet Receptacles, Recessed Lights and More
MIAMI, July 30, 2024 (GLOBE NEWSWIRE) -- SKYX (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology company with over 94 issued and pending patents in the U.S. and globally, and which owns over 60 lighting and home décor websites with a mission to make homes and buildings become smart, safe, and advanced as the new standard, announced today a collaboration with world leading home improvement retailer, Home Depot, for its advanced and smart plug & play products.
SKYX will offer a variety of its Advanced and Smart Plug & Play Products including Retrofit Kits, Smart Light Fixtures, Smart Ceiling Fans, Ceiling Outlet Receptacles, and Recessed Lights among others. A large assortment of these advanced and smart products is expected to be offered on Home Depot’s website in the next coming months, while some advanced and smart plug & play retrofit kit products are expected to arrive in select stores and online to be offered as a fixture upgrade.
Steve Schmidt President of SKYX Platform said: “We are truly excited that we are collaborating with the world leading home improvement company Home Depot. Our technology offers a variety of products for both retail and professional segments; therefore, I view this collaboration as a tremendous growth opportunity for us that can have a significant impact on our business”.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “We are excited to work together with Home Depot, a global leader in retail and professional industries. We strongly believe that this opportunity will have a significant effect on our business and market penetration for both our retail and professional sales channels”.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 94 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
FAQ
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