SKYX Platforms Stock Price, News & Analysis

SKYX Platforms Corp. (NASDAQ: SKYX) has announced a collaboration with Wayfair, a leading home décor website, to offer its advanced and smart plug & play lighting products. The collaboration will include a variety of SKYX's products such as retrofit kits, smart light fixtures, ceiling fans, recessed lights, and ceiling outlet receptacles. These products are expected to be available on Wayfair's website in the coming weeks.

Steve Schmidt, President of SKYX, views this collaboration as a significant growth opportunity for both companies, highlighting the game-changing nature of SKYX's products for retail and professional segments. Rani Kohen, Founder and Executive Chairman of SKYX, emphasized the importance of this partnership in enhancing market penetration for both retail and professional channels, including architects, designers, and home decorators.

SKYX Technologies, a smart platform technology company, has provided a corporate update highlighting significant developments. The company has secured an $11 million equity preferred stock investment at $2.00 per share, led by a global Marriott Hotel chain developer. Notable insider investments include $500,000 from President Steve Schmidt and $250,000 each from Co-CEOs Lenny Sokolow and John Campi.

SKYX reported 2023 sales of $58 million and a record Q2 2024 sales of $21.4 million. The company has a U.S. total addressable market of $500 billion with over 4.2 billion ceiling applications. SKYX has announced collaborations with major companies including Home Depot, General Electric, Ruee Appliances, Kichler, Quoizel, and EGLO. The company's smart home technology has won 7 CES Awards, and its safety applications have been voted into 10 segments of the National Electrical Code Book.

SKYX Platforms Corp. (NASDAQ: SKYX) has secured an $11 million strategic investment through a new class of preferred stock, convertible at $2.00 per common share with an 8% annual dividend. The investment is led by Lance Shaner, Chairman & CEO of Shaner Hotel Group, a global Marriott hotel-chain developer owning over 60 hotels. This investment includes participation from other strategic and key SKYX investors.

SKYX management emphasizes having sufficient cash to achieve its goals, including recently announced collaborations and becoming cash flow positive during 2025. The company, with over 97 issued and pending patents globally and 60+ lighting and home décor websites, views this as a significant confirmation of its value proposition for hotels, buildings, and homes.

SKYX Platforms Corp. (NASDAQ: SKYX) has announced a collaboration with EGLO, a leading European designer and manufacturer of decorative lighting and ceiling fans. The partnership aims to explore and develop products integrating SKYX's technology for European and global markets, catering to EGLO's international customer base. This collaboration is expected to enhance SKYX's market penetration in the U.S. and globally through online, retail, and builder segments.

SKYX, with over 97 issued and pending patents globally and more than 60 lighting and home décor websites, offers advanced smart technologies that make homes and buildings smart and safe. The collaboration is seen as a step towards expanding the applicability and penetration of SKYX's technology in European and global markets and distribution channels.

SKYX Platforms Corp. (NASDAQ: SKYX) reported record second quarter sales of $21.4 million, up from $15.0 million in Q2 2023. Key highlights include:

1. Cash position of $15.6 million as of June 30, 2024
2. Collaboration with Home Depot for advanced and smart plug & play products
3. Growing market penetration with products in nearly 10,000 U.S. and Canadian homes
4. Progress on GE Licensing partnership for ceiling outlet/receptacle standardization
5. New global patents for advanced, smart plug & play recessed light
6. Collaboration with Ruee Appliances for global market expansion
7. Reduced adjusted EBITDA loss to $2.1 million in Q2 2024

SKYX aims to make homes and buildings safer and smarter with its platform technology.

SKYX Technologies (NASDAQ: SKYX), a disruptive smart platform technology company, has announced a Corporate Update call scheduled for Monday, August 12, 2024, at 4:30 PM Eastern Time. The call will include the presentation of second quarter 2024 financial results and corporate updates. Key participants will be Rani Kohen (Founder and Executive Chairman), Steve Schmidt (President), Lenny Sokolow (Co-CEO), and Marc Boisseau (CFO).

Investors can join via phone or webcast, with dial-in numbers provided for both U.S./Canada and international callers. A playback of the call will be available until September 12, 2024. SKYX, which owns over 60 lighting and home décor websites, aims to establish a new standard for smart, safe, and advanced homes and buildings.

SKYX Technologies (NASDAQ: SKYX) has announced a collaboration with Home Depot to offer its advanced and smart plug & play products. The partnership will include a variety of SKYX's products such as retrofit kits, smart light fixtures, smart ceiling fans, ceiling outlet receptacles, and recessed lights. A large assortment of these products is expected to be available on Home Depot's website in the coming months, with some advanced and smart plug & play retrofit kit products arriving in select stores and online as fixture upgrades.

SKYX, a disruptive smart platform technology company with over 94 issued and pending patents globally, views this collaboration as a significant growth opportunity that could have a substantial impact on their business. The company's technology offers products for both retail and professional segments, potentially expanding their market penetration through Home Depot's extensive reach in these industries.

SKYX Technologies (NASDAQ: SKYX) has announced the commencement of production for its new globally patented advanced, smart, plug & play recessed light. This product is expected to significantly contribute to the company's growth within the multi-billion-unit global recessed light market. The product, which holds patents in the U.S., China, Canada, Hong Kong, and Mexico, aims to simplify installation and enhance safety by eliminating hazardous electrical wiring. The lights can be controlled via SKYX’s app, voice control, and phone, compatible with Apple’s Siri, Amazon Alexa, Google Home, and Samsung. SKYX's total addressable market (TAM) exceeds $500 billion, supported by over 94 issued and pending patents. This includes 36 patents related to their advanced Plug and Play and smart home platform technologies.

SKYX Technologies (NASDAQ: SKYX) has announced the issuance of six new patents covering its advanced smart plug-and-play ceiling fan and heater, expanding its global patent portfolio. These patents have been granted in the U.S., China, India, Europe, Canada, and Mexico.

The company now holds over 94 issued and pending patents, with 36 of them already issued. This strengthens SKYX's position in the smart home, AI sensors, and home safety sensor markets. The new patents support SKYX's mission to enhance home and building safety and intelligence standards, addressing a total addressable market (TAM) of over $500 billion.

Founder and Executive Chairman Rani Kohen highlighted that these additions further solidify SKYX's intellectual property and its role as a leading provider of smart home platform technologies.