SKYX Provides Corporate Update, including Significant Insider Buying
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 Technologies, un'azienda di tecnologia per piattaforme intelligenti, ha fornito un aggiornamento aziendale evidenziando sviluppi significativi. L'azienda ha ottenuto un investimento in azioni privilegiate per un valore di 11 milioni di dollari a 2,00 dollari per azione, guidato da uno sviluppatore globale della catena alberghiera Marriott. Tra gli investimenti significativi da parte dei dirigenti, si possono notare 500.000 dollari dal Presidente Steve Schmidt e 250.000 dollari ciascuno dai Co-CEO Lenny Sokolow e John Campi.
SKYX ha riportato vendite nel 2023 di 58 milioni di dollari e un record di vendite nel Q2 2024 di 21,4 milioni di dollari. L'azienda ha un mercato totale indirizzabile negli Stati Uniti di 500 miliardi di dollari con oltre 4,2 miliardi di applicazioni per soffitti. SKYX ha annunciato collaborazioni con grandi aziende, tra cui Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel ed EGLO. La tecnologia per la casa intelligente dell'azienda ha vinto 7 premi CES, e le sue applicazioni per la sicurezza sono state votate in 10 segmenti del National Electrical Code Book.
SKYX Technologies, una empresa de tecnología de plataformas inteligentes, ha proporcionado una actualización corporativa destacando desarrollos significativos. La empresa ha asegurado una inversión en acciones preferentes de 11 millones de dólares a 2,00 dólares por acción, liderada por un desarrollador global de la cadena de hoteles Marriott. Inversiones notables de los directivos incluyen 500.000 dólares del Presidente Steve Schmidt y 250.000 dólares cada uno de los Co-CEOs Lenny Sokolow y John Campi.
SKYX reportó ventas de 58 millones de dólares en 2023 y un récord de ventas de 21,4 millones de dólares en el segundo trimestre de 2024. La empresa tiene un mercado total direccionable en EE. UU. de 500 mil millones de dólares con más de 4,2 mil millones de aplicaciones para techos. SKYX ha anunciado colaboraciones con grandes empresas incluyendo Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel y EGLO. La tecnología de hogar inteligente de la empresa ha ganado 7 premios CES, y sus aplicaciones de seguridad han sido votadas en 10 segmentos del National Electrical Code Book.
SKYX Technologies는 스마트 플랫폼 기술 회사로서 중요한 발전을 강조하는 기업 업데이트를 제공했습니다. 이 회사는 주당 2.00달러에 1,100만 달러의 우선주 투자를 확보했으며, 이는 글로벌 마리오트 호텔 체인 개발자가 주도했습니다. 주요 내부 투자로는 사장 스티브 슈미트가 500,000달러를 투자했고, 공동 CEO인 렌니 소콜로우와 존 캠피가 각각 250,000달러씩 투자했습니다.
SKYX는 2023년 매출 5,800만 달러와 2024년 2분기 기록 매출 2,140만 달러를 보고했습니다. 이 회사는 4,200억 개의 천장 애플리케이션과 함께 미 전역에서 5,000억 달러의 전체 주소 지정 가능 시장을 보유하고 있습니다. SKYX는 홈디포, 제너럴 일렉트릭, 루에 가전, 키클러, 쿼이젤, EGLO와 같은 주요 기업과 협업을 발표했습니다. 이 회사의 스마트 홈 기술은 7개의 CES 상을 수상했으며, 안전 애플리케이션은 국가 전기 규범서의 10개 세그먼트에 투표되었습니다.
SKYX Technologies, une entreprise de technologie de plateforme intelligente, a fourni une mise à jour d'entreprise mettant en lumière des développements significatifs. L'entreprise a sécurisé un investissement en actions privilégiées de 11 millions de dollars à 2,00 dollars par action, dirigé par un développeur mondial de la chaîne d'hôtels Marriott. Parmi les investissements notables de l'intérieur, on trouve 500 000 dollars du Président Steve Schmidt et 250 000 dollars chacun des Co-CEOs Lenny Sokolow et John Campi.
SKYX a rapporté des ventes de 58 millions de dollars en 2023 et un record de ventes de 21,4 millions de dollars au deuxième trimestre de 2024. L'entreprise a un marché total adressable aux États-Unis de 500 milliards de dollars avec plus de 4,2 milliards d'applications de plafond. SKYX a annoncé des collaborations avec de grandes entreprises, y compris Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel et EGLO. La technologie de maison intelligente de l'entreprise a remporté 7 prix CES, et ses applications de sécurité ont été votées dans 10 segments du National Electrical Code Book.
SKYX Technologies, ein Unternehmen für smarte Plattformtechnologie, hat ein Unternehmensupdate bereitgestellt, das bedeutende Entwicklungen hervorhebt. Das Unternehmen hat eine Investition in Vorzugsaktien in Höhe von 11 Millionen Dollar zu 2,00 Dollar pro Aktie gesichert, angeführt von einem globalen Entwickler der Marriott Hotelkette. Zu den bemerkenswerten Investitionen von Insidern zählen 500.000 Dollar vom Präsidenten Steve Schmidt sowie jeweils 250.000 Dollar von den Co-CEOs Lenny Sokolow und John Campi.
SKYX berichtete von Verkäufen im Jahr 2023 in Höhe von 58 Millionen Dollar und Rekordverkäufen im 2. Quartal 2024 von 21,4 Millionen Dollar. Das Unternehmen hat einen insgesamt adressierbaren Markt in den USA von 500 Milliarden Dollar mit über 4,2 Milliarden Deckenanwendungen. SKYX hat Kooperationen mit großen Unternehmen wie Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel und EGLO angekündigt. Die Smart-Home-Technologie des Unternehmens hat 7 CES Awards gewonnen, und ihre Sicherheitsanwendungen wurden in 10 Segmente des National Electrical Code Book gewählt.
- Secured $11 million equity preferred stock investment at $2.00 per share
- Significant insider investments from company executives
- 2023 sales of $58 million and record Q2 2024 sales of $21.4 million
- Large total addressable market of $500 billion in the U.S.
- Collaborations with major companies like Home Depot and General Electric
- Won 7 CES Awards for smart home technology
- Voted into 10 segments of the National Electrical Code Book
- None.
Insights
The corporate update from SKYX Technologies presents several positive developments. The
The company's 2023 sales of
The inclusion in the National Electrical Code and potential for mandatory safety standardization could drive widespread adoption of SKYX's technology. With a total addressable market of
SKYX Technologies' smart platform technology, backed by over 97 issued and pending patents, positions the company at the forefront of the smart home revolution. The collaboration with Home Depot is particularly significant, as it provides access to both retail and professional markets, potentially accelerating adoption of SKYX's plug-and-play products.
The licensing agreement with GE is a major win, potentially establishing SKYX's technology as a global smart ceiling standard. This, combined with partnerships across various market segments (retail, online, builder), creates a diverse ecosystem for SKYX's technology.
The seven CES Awards highlight the innovative nature of SKYX's offerings. The emphasis on safety and standardization, evidenced by inclusion in the National Electrical Code, could drive regulatory-backed adoption. However, the challenge lies in execution and market penetration against established competitors in the smart home space.
MIAMI, Oct. 09, 2024 (GLOBE NEWSWIRE) -- SKYX (NASDAQ: SKYX) (d/b/a "SKYX Technologies"), a highly disruptive smart platform technology company with over 97 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, provides today a corporate update including significant insider buying.
- SKYX Secures
$11 million equity preferred stock investment representing$2.00 per share of common stock with NO warrants, led by global Marriott Hotel chain developer/owner of over 60 hotels. - Significant insider investing in this equity preferred round at
$2.00 includes SKYX’s President Steve Schmidt, who invested$500,000 , Co-CEO Lenny Sokolow, who invested$250,000 , and Co-CEO John Campi, who also invested$250,000 - Management emphasizes that it has sufficient cash to achieve its goals including being cash flow positive in 2025
- 2023 Sales of
$58 million / 2024 Q-2 Record Sales of$21.4 million - Company’s total addressable market (TAM) in the U.S. of
$500 billion with over 4.2 billion ceiling applications in the U.S. alone - Expected revenue streams from retail and professional segments include product sales, royalties/licensing/subscription/monitoring/sale of global country rights
- Recent Collaborations:
- Announced a Collaboration with Home Depot for the retail and professional markets. Company started shipping and products are already in 100 stores. Company has also started to sell product on Home Depot website and expects to have hundreds of advanced smart plug & play products on Home Depot’s website.
- Signed with General Electric / GE Licensing a 5-year global licensing agreement to license its advanced and smart technologies with a goal to create an advanced smart global ceiling standard
- Collaboration with world leading Chinese lighting distributor and manufacturer Ruee Appliances for the U.S., China and European markets, including financial backing
- Collaboration with world leading lighting company Kichler for online and builder segments
- Collaboration with U.S. leading lighting company Quoizel including for online and builder segments
- Collaboration European leading lighting company EGLO for online and builder segments
- Future Collaborations: Management is in the process of working on additional collaborations with leading strategic companies
- Companies collaborating with SKYX are expected to leverage the fast and easy interchangeability capabilities of the technology to enhance sales of smart fixtures and fixture replacements for seasonality, energy savings, holidays, smart capabilities and renovations for both retail and professional segments
- SKYX smart home technology wins 7 CES Awards (Consumer Electronics Show)
- Safety Standardization Code: Based on the safety applications of the technology it was voted into 10 segments the National Electrical Code (NEC) Book and has filed for a mandatory safety standardization for its ceiling outlet receptacle for ceilings in homes and buildings
- Leadership: Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen, Microsoft, Disney, GE, Home Depot, Office Depot, Chrysler, among others
- Link to an updated company summary Click Here
- Link to an updated video Click Here
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
What was the value of SKYX's recent equity preferred stock investment?
How much did SKYX's President Steve Schmidt invest in the recent equity preferred round?
What were SKYX's sales figures for 2023 and Q2 2024?
Which major retailer has SKYX announced a collaboration with for retail and professional markets?
How many CES Awards has SKYX's smart home technology won?
