SKYX Platforms Posts Record $22M Q1 Revenue and $32M Cash
Company posted record Q1 revenues of $22 million, a 10% increase from $20 million in Q1 2025, marking its ninth consecutive quarter of year-over-year growth. Cash and equivalents rose to $32 million from $10 million at year-end 2025, gross profit climbed 16% to $7 million and margin improved to 30%.
1. Strong First Quarter Results
The company generated record Q1 revenues of $22 million, up 10% year-over-year from $20 million, marking its ninth consecutive quarter of growth. Gross profit increased 16% to $7 million and gross margin rose to 30%, while net loss per share narrowed to $0.07.
2. Strengthened Cash Position and Profitability Outlook
Cash and equivalents surged to $32 million at quarter end, up from $10 million at December 31, 2025, reflecting rapid conversion of e-commerce sales. Management expects this liquidity to fund operations and reach positive cash flow by year-end 2026.
3. Strategic European Hotel Partnership
The company entered a partnership with Group OTT to deploy its smart and AI platform technologies across more than 250 hotels and buildings in Europe, beginning with a master renovation at The Grand Hotel du Parc in France. The agreement includes marketing to over 132,000 European hotels.
4. Expansion Plans and Technology Deployments
SKYX plans to supply over one million units of its smart home products across major projects in the U.S., Europe, Saudi Arabia, and Egypt, with 100,000 units targeted by end-2026. Collaborations include NVIDIA AI Ecosystem Connect and development of all-season ceiling fans and life-saving receptacle technologies.