Welcome to our dedicated page for Skkynet Cloud Sy news (Ticker: SKKY), a resource for investors and traders seeking the latest updates and insights on Skkynet Cloud Sy stock.
Skkynet Cloud Systems, Inc. develops real-time data connectivity software for industrial, embedded, and financial systems. Its platform includes Cogent DataHub software, the Skkynet DataHub service on Microsoft Azure, and Embedded Toolkit software for secure remote access, OT/IT integration, Industrial IoT, and Industry 4.0 applications.
Company updates have centered on quarterly and annual operating results, sales growth, profitability, cash position, product development within the DataHub stack, and channel expansion through industrial automation partners. News also reflects demand for secure access to remote industrial systems and the company’s focus on data connectivity without custom programming, VPNs, open firewall ports, or additional hardware.
Skkynet Cloud Systems (SKKY) reported a record third quarter revenue of $497,375, marking a 57% growth compared to $316,918 in Q3 2020. Additionally, the nine-month revenue totaled $1,383,414, up 20% from $1,155,443 in the prior year. The net loss from operations decreased to $15,490 from $60,784 year-over-year. The Company, driven by increasing demand for remote data access, maintains a positive outlook for the remainder of 2021 and anticipates continued growth into 2022.
Skkynet Cloud Systems (OTCQB: SKKY) reported a record revenue of US$447,972 for Q2 2021, marking a 6.9% increase from $419,043 in Q2 2020. The company generated $18,137 in income from operations, up from $5,866 a year earlier. CEO Andrew Thomas expressed optimism for continued growth fueled by demand for secure industrial data access due to regulatory mandates stemming from the pandemic. New, innovative product offerings are set to enhance customer data access capabilities, positioning Skkynet favorably in the Industrial IoT market.
Skkynet Cloud Systems (OTCQB: SKKY) reports a 4.4% revenue growth for Q1 2021, achieving US$438,066 in sales compared to US$419,482 in Q1 2020. The company has maintained a strong cash position and reduced its loss from operations to $10,581 from $12,271 year-over-year. Skkynet anticipates continued growth driven by increasing demand for secure access to industrial data, especially in the APAC region.
Skkynet Cloud Systems (OTCQB: SKKY) reported a 10.2% year-over-year revenue growth, achieving $1,506,929 in annual revenue compared to $1,367,448 in 2019. The net loss decreased to $311,333 from $575,854 in the previous year. Despite a slowdown in Q4 sales due to the global economy, the company maintains a strong cash position, indicating potential for future growth. They have become a Certified Technology Partner with AVEVA and expanded channel partnerships, which may enhance their market presence moving forward.