SKYX Platforms Reports Record Q1 Revenue and Expands Market Reach
SKYX Platforms Corp. demonstrated strong financial performance in Q1 2025, with increased revenue and strategic partnerships positioning the company for growth in smart home technology across North America.
SKYX Platforms Corp. reported record first-quarter revenue of $20.1 million, representing a 6% year-over-year increase driven by sales of smart and standard plug & play products. The technology company achieved a gross profit of $5.7 million and narrowed its net loss per share to ($0.09).
The company secured $4 million in new equity as part of a $15 million financing round led by The Shaner Group and company insiders. Strategic collaborations with major retailers and manufacturers like Home Depot, Wayfair, and Cavco Homes are expanding the company's market penetration.
SKYX management remains confident in its growth trajectory, projecting positive cash flow in 2025 and targeting product installation in 30,000 homes by the end of the second quarter. The company plans continued expansion across the United States and Canada, leveraging its portfolio of over 97 U.S. and global patents and patent-pending applications.
The company's innovative approach focuses on creating safe, advanced, and smart platform technologies designed to enhance safety and lifestyle in residential and commercial buildings. By emphasizing high-quality, user-friendly products, SKYX aims to establish a new standard in electrical infrastructure and smart home technology.