Skkynet Cloud Sy Stock Price, News & Analysis

Skkynet Cloud Systems, Inc. (OTCQB: SKKY) announced record revenue of $2,156,880 for the fiscal year ending October 31, 2022, marking a 17.8% increase from $1,830,459 in 2021. The company achieved a net income of $32,758, solidifying a strong cash position. Skkynet launched an upgraded DataHub® service and established presence on Microsoft Azure, enhancing its offerings in secure remote access for industrial systems. Positive response to technological advancements and expansion into larger-scale projects have bolstered confidence in continued growth. The company remains optimistic amid increasing demand for its services.

Skkynet Cloud Systems (OTCQB: SKKY) reported continued growth in its Q3 2022 financial results with a record revenue of $530,075, up 7% from $497,375 in Q3 2021. Year-to-date revenue reached $1,547,347, reflecting a 12% increase compared to $1,383,414 in the same period last year. The company also achieved a net income of $18,366 for Q3, reversing a net loss of $15,490 in 2021. CEO Andrew Thomas highlighted growing demand for secure industrial data access, enhanced by recent product features.

Skkynet Cloud Systems (OTCQB: SKKY) announced its financial results for Q2 2022, reporting a 20.6% increase in revenue, reaching US$540,093 compared to US$447,972 in Q2 2021. However, the company faced a comprehensive loss of US$19,475, a shift from a gain of US$26,373 last year. CEO Andrew Thomas noted a resurgence of delayed projects post-pandemic, while President Paul Thomas highlighted a focus on high-growth sectors and strong cybersecurity demand. Skkynet's product suite supports secure data integration for the Internet of Things.

Skkynet Cloud Systems (OTCQB: SKKY) reported a 21.5% revenue growth for the year ending October 31, 2021, with total annual revenues reaching $1,830,459 compared to $1,506,929 in 2020. The company maintains a strong cash position and profitability, driven by increased demand for secure remote industrial systems. Key achievements include launching Skkynet DataHub® on Microsoft Azure, releasing an enhanced version of DataHub software, and expanding its intellectual property portfolio with additional patents.

Skkynet Cloud Systems (OTCQB: SKKY) has launched a significant update to its DataHub® middleware, enhancing real-time industrial data communication capabilities. The new version connects with popular data historians from AVEVA, InfluxData, and OSIsoft, and introduces features for generating alarms and notifications. This release enables secure data transmission from various industrial sources to corporate systems, thereby enhancing data accessibility for AI and digital twin applications. Additionally, Skkynet’s patented security technology ensures protection without additional hardware or complex network configurations.

Skkynet Cloud Systems (OTCQB: SKKY) announced the availability of its DataHub® technology on Microsoft Azure Marketplace for secure, real-time industrial data communications. This service enables Azure customers to acquire, monitor, and share live process data without exposing production systems. The DataHub seamlessly integrates with Azure IoT Hub and employs patented security measures to ensure no attack surface is exposed. Skkynet aims to merge operations technology with IT, enhancing data accessibility across various industries.