SKYX Platforms Financials

SKYX

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows SKYX Platforms (SKYX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$86.3M

YoY+46.8%

5Y CAGR+65.2%

SKYX Platforms generated $86.3M in revenue in fiscal year 2024. This represents an increase of 46.8% from the prior year.

EBITDA

-$30.2M

YoY+13.5%

SKYX Platforms's EBITDA was -$30.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.5% from the prior year.

Free Cash Flow

N/A

Net Income

-$35.8M

YoY+10.0%

SKYX Platforms reported -$35.8M in net income in fiscal year 2024. This represents an increase of 10.0% from the prior year.

EPS (Diluted)

$-0.36

YoY+20.0%

SKYX Platforms earned $-0.36 per diluted share (EPS) in fiscal year 2024. This represents an increase of 20.0% from the prior year.

Cash & Debt

$12.6M

YoY-24.8%

5Y CAGR+25.1%

SKYX Platforms held $12.6M in cash against $20.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

103M

YoY+10.6%

5Y CAGR+14.2%

SKYX Platforms had 103M shares outstanding in fiscal year 2024. This represents an increase of 10.6% from the prior year.

Gross Margin

N/A

Operating Margin

-37.2%

YoY+27.1pp

SKYX Platforms's operating margin was -37.2% in fiscal year 2024, reflecting core business profitability. This is up 27.1 percentage points from the prior year.

Net Margin

-41.5%

YoY+26.1pp

5Y CAGR+1361.9pp

SKYX Platforms's net profit margin was -41.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 26.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

SKYX Income Statement

Metric	FY24	FY24	FY23	FY22	FY17	FY17
Revenue	$86.3M+46.8%	$58.8M+183479.3%	$32K-25.7%	$43K-99.4%	$7.7M+9.8%	$7.0M
Cost of Revenue	N/A	$40.7M+215359.8%	$19K-78.6%	$88K-98.6%	$6.4M+4.0%	$6.1M
Gross Profit	N/A	$18.0M+137483.7%	$13K+128.9%	-$45K-103.4%	$1.3M+50.4%	$879K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$31.4M-15.4%	$37.1M+40.4%	$26.4M+413.2%	$5.1M+0.3%	$5.1M+16.9%	$4.4M
Operating Income	-$32.1M+15.1%	-$37.8M-42.1%	-$26.6M-413.2%	-$5.2M	N/A	N/A
Interest Expense	$4.1M+30.4%	$3.1M+427.9%	$589K+5.1%	$560K+90.1%	$295K-70.0%	$981K
Income Tax	$0	$0	$0	N/A	$0	$0
Net Income	-$35.8M+10.0%	-$39.7M-47.0%	-$27.0M-371.8%	-$5.7M+78.6%	-$26.7M+72.9%	-$98.4M
EPS (Diluted)	$-0.36+20.0%	$-0.45-12.5%	$-0.40	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$23.9M+3.6%	$23.1M+14.7%	$20.1M	N/A	$22.2M+3.4%	$21.4M+13.0%	$19.0M	N/A
Cost of Revenue	$16.3M+1.6%	$16.1M+11.5%	$14.4M	N/A	$15.3M+3.1%	$14.9M+11.0%	$13.4M	N/A
Gross Profit	$7.6M+8.2%	$7.0M+22.5%	$5.7M	N/A	$6.8M+4.0%	$6.6M+17.9%	$5.6M	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.2M-1.2%	$8.3M+26.3%	$6.6M	N/A	$8.2M+24.9%	$6.5M-17.6%	$7.9M	N/A
Operating Income	-$6.8M+10.1%	-$7.5M+2.5%	-$7.7M	N/A	-$7.6M-22.0%	-$6.2M+29.8%	-$8.9M	N/A
Interest Expense	$834K-35.2%	$1.3M-3.8%	$1.3M	N/A	$998K-17.5%	$1.2M+53.5%	$788K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$7.6M+13.7%	-$8.8M+2.5%	-$9.1M	N/A	-$8.6M-15.5%	-$7.5M+22.9%	-$9.7M	N/A
EPS (Diluted)	$-0.07+12.5%	$-0.08+11.1%	$-0.09	N/A	$-0.080.0%	$-0.08+20.0%	$-0.10	N/A

SKYX Balance Sheet

Metric	FY24	FY24	FY23	FY22	FY17	FY17
Total Assets	$65.9M-13.7%	$76.3M+76.8%	$43.2M+261.2%	$12.0M+14.7%	$10.4M-16.4%	$12.5M
Current Assets	$20.4M-25.4%	$27.3M+67.3%	$16.3M+43.4%	$11.4M+36.5%	$8.3M+13.3%	$7.4M
Cash & Equivalents	$12.6M-24.8%	$16.8M+150.1%	$6.7M-35.5%	$10.4M+113.8%	$4.9M+18.2%	$4.1M
Inventory	$3.8M+10.5%	$3.4M+78.1%	$1.9M+109.4%	$919K-61.0%	$2.4M-2.0%	$2.4M
Accounts Receivable	$2.4M-28.6%	$3.4M	N/A	N/A	$1.0M+31.8%	$797K
Goodwill	$16.2M0.0%	$16.2M	N/A	N/A	N/A	N/A
Total Liabilities	$56.8M-5.5%	$60.1M+71.5%	$35.0M+128.4%	$15.3M-81.0%	$80.8M-4.5%	$84.6M
Current Liabilities	$26.1M+8.0%	$24.2M+225.9%	$7.4M+181.9%	$2.6M-91.7%	$31.6M+9.8%	$28.8M
Long-Term Debt	$20.1M+10.1%	$18.3M+177.9%	$6.6M-8.7%	$7.2M+39.6%	$5.2M+50.6%	$3.4M
Total Equity	$4.1M-75.0%	$16.2M+105.2%	$7.9M+333.3%	-$3.4M+95.2%	-$70.4M+2.4%	-$72.1M
Retained Earnings	-$181.8M-24.7%	-$145.8M-37.5%	-$106.1M-42.8%	-$74.3M+55.8%	-$168.1M-19.0%	-$141.2M

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$58.4M-9.3%	$64.4M+2.0%	$63.2M-4.1%	$65.9M+1.4%	$65.0M-6.1%	$69.2M-6.8%	$74.2M-2.8%	$76.3M
Current Assets	$16.4M-19.5%	$20.4M+11.9%	$18.3M-10.4%	$20.4M+7.3%	$19.0M-11.9%	$21.6M-15.4%	$25.5M-6.7%	$27.3M
Cash & Equivalents	$7.8M-39.1%	$12.8M+36.1%	$9.4M-25.3%	$12.6M+24.3%	$10.2M-4.8%	$10.7M-24.5%	$14.1M-15.8%	$16.8M
Inventory	$3.7M+19.7%	$3.1M-15.6%	$3.7M-2.8%	$3.8M-16.6%	$4.5M+7.5%	$4.2M+11.7%	$3.8M+10.3%	$3.4M
Accounts Receivable	$3.2M+35.4%	$2.3M-17.1%	$2.8M+16.4%	$2.4M-17.4%	$2.9M-3.1%	$3.0M-23.2%	$3.9M+16.2%	$3.4M
Goodwill	$16.2M0.0%	$16.2M0.0%	$16.2M0.0%	$16.2M0.0%	$16.2M0.0%	$16.2M0.0%	$16.2M0.0%	$16.2M
Total Liabilities	$57.3M-2.5%	$58.7M-0.2%	$58.9M+3.6%	$56.8M-7.0%	$61.1M+2.4%	$59.7M-1.7%	$60.7M+0.9%	$60.1M
Current Liabilities	$25.2M-13.3%	$29.0M+1.6%	$28.6M+9.4%	$26.1M-15.0%	$30.8M+9.5%	$28.1M+15.5%	$24.3M+0.6%	$24.2M
Long-Term Debt	$19.0M-2.8%	$19.5M-2.2%	$20.0M-0.6%	$20.1M+1.3%	$19.9M-9.6%	$21.9M+3.2%	$21.3M+16.5%	$18.3M
Total Equity	-$3.8M-656.4%	$690K+195.5%	-$722K-117.8%	$4.1M+5.7%	$3.8M-59.6%	$9.5M-29.7%	$13.5M-16.8%	$16.2M
Retained Earnings	-$208.1M-3.9%	-$200.2M-4.8%	-$191.1M-5.1%	-$181.8M-6.0%	-$171.6M-5.3%	-$162.9M-4.8%	-$155.5M-6.6%	-$145.8M

SKYX Cash Flow Statement

Metric	FY24	FY24	FY23	FY22	FY17	FY17
Operating Cash Flow	-$18.3M-40.5%	-$13.0M+6.1%	-$13.8M-199.0%	-$4.6M-6.4%	-$4.3M+29.5%	-$6.2M
Capital Expenditures	N/A	N/A	$313K	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	-$14.2M	N/A	N/A	N/A
Investing Cash Flow	-$1.7M-153.4%	$3.2M+140.2%	-$8.1M-4395.7%	-$179K+25.8%	-$242K-453.1%	-$44K
Financing Cash Flow	$13.1M-42.5%	$22.7M+8.6%	$20.9M+61.9%	$12.9M+141.9%	$5.3M-46.0%	$9.9M
Dividends Paid	N/A	N/A	$38K-70.6%	$129K+186.5%	-$150K-383.6%	-$31K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	-$4.3M	N/A	N/A	N/A	-$6.1M	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$54K	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$6.2M	N/A
Investing Cash Flow	N/A	N/A	-$413K	N/A	N/A	N/A	-$54K	N/A
Financing Cash Flow	N/A	N/A	$1.5M	N/A	N/A	N/A	$3.5M	N/A
Dividends Paid	N/A	N/A	$213K	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SKYX Financial Ratios

Metric	FY24	FY24	FY23	FY22	FY17	FY17
Gross Margin	N/A	30.7%-10.3pp	40.9%+146.1pp	-105.2%-122.4pp	17.2%+4.6pp	12.5%
Operating Margin	-37.2%+27.1pp	-64.3%+83082.2pp	-83146.5%-71111.7pp	-12034.8%	N/A	N/A
Net Margin	-41.5%+26.1pp	-67.6%+84361.7pp	-84429.3%-71136.4pp	-13292.9%-12945.9pp	-346.9%+1056.5pp	-1403.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-54.3%-2.2pp	-52.0%+10.6pp	-62.6%-14.7pp	-47.9%+208.4pp	-256.3%+533.6pp	-789.9%
Current Ratio	0.78-0.3	1.13-1.1	2.20-2.1	4.32+4.1	0.260.0	0.26
Debt-to-Equity	4.96+3.8	1.13+0.3	0.83+3.0	-2.12-2.1	-0.07-0.0	-0.05
FCF Margin	N/A	N/A	-44191.9%	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	31.7%+1.3pp	30.3%+1.9pp	28.4%	N/A	30.9%+0.2pp	30.7%+1.3pp	29.4%	N/A
Operating Margin	-28.3%+4.3pp	-32.6%+5.7pp	-38.4%	N/A	-34.3%-5.2pp	-29.1%+17.8pp	-46.8%	N/A
Net Margin	-31.9%+6.4pp	-38.3%+6.7pp	-45.0%	N/A	-38.9%-4.1pp	-34.8%+16.2pp	-51.0%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-13.0%+0.7pp	-13.7%+0.6pp	-14.3%	N/A	-13.3%-2.5pp	-10.8%+2.2pp	-13.0%	N/A
Current Ratio	0.65-0.1	0.70+0.1	0.64-0.1	0.78+0.2	0.62-0.2	0.77-0.3	1.05-0.1	1.13
Debt-to-Equity	-4.95-33.3	28.32+56.0	-27.67-32.6	4.96-0.2	5.18+2.9	2.31+0.7	1.58+0.5	1.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-32.5%	N/A

Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Financial Health Signals

Financial Profile 28/100

Profitability

Growth

100

Leverage

Liquidity

Cash Flow

N/A

Returns

N/A

Based on FY2024 annual data. Scores normalized against common benchmarks.

Piotroski F-Score Weak

2/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Low Quality

0.51x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk

-7.9x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is SKYX Platforms's annual revenue?

SKYX Platforms (SKYX) reported $86.3M in total revenue for fiscal year 2024. This represents a 46.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is SKYX Platforms's revenue growing?

SKYX Platforms (SKYX) revenue grew by 46.8% year-over-year, from $58.8M to $86.3M in fiscal year 2024.

Is SKYX Platforms profitable?

No, SKYX Platforms (SKYX) reported a net income of -$35.8M in fiscal year 2024, with a net profit margin of -41.5%.

What is SKYX Platforms's earnings per share (EPS)?

SKYX Platforms (SKYX) reported diluted earnings per share of $-0.36 for fiscal year 2024. This represents a 20.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is SKYX Platforms's EBITDA?

SKYX Platforms (SKYX) had EBITDA of -$30.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does SKYX Platforms have?

As of fiscal year 2024, SKYX Platforms (SKYX) had $12.6M in cash and equivalents against $20.1M in long-term debt.

What is SKYX Platforms's operating margin?

SKYX Platforms (SKYX) had an operating margin of -37.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is SKYX Platforms's net profit margin?

SKYX Platforms (SKYX) had a net profit margin of -41.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is SKYX Platforms's operating cash flow?

SKYX Platforms (SKYX) generated -$18.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are SKYX Platforms's total assets?

SKYX Platforms (SKYX) had $65.9M in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does SKYX Platforms have outstanding?

SKYX Platforms (SKYX) had 103M shares outstanding as of fiscal year 2024.

What is SKYX Platforms's current ratio?

SKYX Platforms (SKYX) had a current ratio of 0.78 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is SKYX Platforms's debt-to-equity ratio?

SKYX Platforms (SKYX) had a debt-to-equity ratio of 4.96 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SKYX Platforms's return on assets (ROA)?

SKYX Platforms (SKYX) had a return on assets of -54.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is SKYX Platforms's cash runway?

Based on fiscal year 2024 data, SKYX Platforms (SKYX) had $12.6M in cash against an annual operating cash burn of $18.3M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is SKYX Platforms's Piotroski F-Score?

SKYX Platforms (SKYX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are SKYX Platforms's earnings high quality?

SKYX Platforms (SKYX) has an earnings quality ratio of 0.51x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can SKYX Platforms cover its interest payments?

SKYX Platforms (SKYX) has an interest coverage ratio of -7.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.

How financially healthy is SKYX Platforms?

SKYX Platforms (SKYX) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.