SKYX Provides a Corporate Update as It Continues to Grow Its Market Penetration in the Builder and Hotel Segments
The Deako merger adds 25,000,000 common shares, while expected synergies would reduce annual cash expenses by over $6 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
SKYX Platforms (NASDAQ: SKYX) reported an estimated combined SKYX and Deako pipeline of over 4 million units in its corporate update. The expected average selling price is approximately $50 per product. Deako will supply over 80,000 units to 1,000 Maronda Homes residences. SKYX also signed an agreement for two Trump Towers in Hyderabad, expecting deployment of tens of thousands of units, and will supply a Marriott hotel renovation in Durham.
SKYX issued 25,000,000 common shares for the Deako merger, subject to lock-up and phased release restrictions. It expects merger synergies to reduce annual cash expenses by over $6 million. Cash, cash equivalents and restricted cash totaled $27.7 million at the end of the second quarter of 2026. The company targets positive cash flow as it exits 2026. Other developments include a Eurofase licensing agreement and plans for an AI-driven e-commerce system.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Combined SKYX and Deako pipeline is estimated at over 4 million units, with approximately $50 expected average selling price.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Deako will supply over 80,000 units to 1,000 Maronda Homes residences.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Hyderabad Trump Towers supply agreement covers two 65-story towers; SKYX expects deployment of tens of thousands of units.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Deako merger synergies are expected to reduce annual cash expenses by over $6 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.SKYX targets positive cash flow as it exits 2026.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Quarterly year-over-year growth reached 10 consecutive quarters; SKYX expects that pattern to continue.
14 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Marriott hotel renovation in Durham, North Carolina will use SKYX technologies.
- Minor point. Forward-looking: it has not happened yet and may not happen.SKYX’s product line is expected to create an opportunity to increase Deako’s revenue per home up to fivefold.
- Minor point. Forward-looking: it has not happened yet and may not happen.Combined business expects additional upgrade revenue and recurring revenue opportunities from services, subscriptions and licensing.
- Minor pointTurbo Heater Fan sales continued to grow during summer across retailers and SKYX’s e-commerce platform.
- Minor point. Forward-looking: it has not happened yet and may not happen.Turbo Heater Fan sales are expected to grow significantly during fall and winter in retail and builder segments.
- Minor pointDeako extended supply agreements with D.R. Horton and Stone Martin.
- Minor point. Forward-looking: it has not happened yet and may not happen.Deako merger creates opportunities to supply existing SKYX projects, including hotels and Miami’s Smart City.
- Minor point. Forward-looking: it has not happened yet and may not happen.Group OTT will adopt SKYX technology as a brand standard.
- Minor point. Forward-looking: it has not happened yet and may not happen.Future projects include Miami’s $4 billion Smart City and other U.S. and international locations.
- Minor pointEurofase signed a technology licensing agreement with SKYX.
- Minor point. Forward-looking: it has not happened yet and may not happen.SKYX plans to continue patent licensing through safety standardization efforts and technology-company agreements.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned AI-driven e-commerce system is expected to increase conversion rates and sales.
- Minor pointManufacturing partnerships secured in the U.S., Vietnam, Taiwan, China and Cambodia.
- Minor pointProduct specification received ANSI/NEMA approval votes; SKYX technology was voted into 10 NEC Code Book segments.
Negative
- Major pointDeako merger consideration of 25,000,000 newly issued common shares dilutes existing holders.
- Minor pointMandatory ceiling-outlet safety standardization remains in a government safety agency process, rather than an adopted requirement.
Details
Market Reaction – SKYX
On Oct 22, the day this news came out, the latest delayed price for SKYX is 2.59% below the previous close. Our momentum scanner has recorded 13 alerts for this stock so far that day. The latest delayed price is $0.88. Relative volume is very high at 3.9x the average.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- Combined pipeline
- over 4 million units
- SKYX and Deako; estimated pipeline
- Expected average selling price
- approximately $50 per product
- Combined SKYX and Deako pipeline
- Maronda Homes supply
- over 80,000 units
- Supply to 1,000 homes
- Cash, cash equivalents and restricted cash
- $27.7 million
- As of the end of Q2 2026
- Consecutive year-over-year growth
- 10 consecutive quarters
- Company-reported
- Potential revenue per home increase
- up to fivefold
- Expected opportunity from SKYX and Deako merger synergies
- Expected annual cash expense reduction
- over $6 million
- Expected SKYX and Deako synergies
- Merger share consideration and lock-up
- 25,000,000 shares; 12-month full lock-up
- Quarterly leak-out releases follow the full lock-up
Historical Context
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Merger closed with 25 million shares, $4 million lender payments and an $8.5 million secured note.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
rule 10b5-1 trading plan regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
MIAMI, Oct. 22, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 120 patents and pending applications globally and over 60 lighting and home décor websites, with a mission to make homes and buildings safe and smart as the new standard, today provides a corporate update.
Highlights Recent Events
- The combined SKYX and Deako pipeline is estimated at over 4 million units with an expected average selling price of approximately
$50 per product. - SKYX’s subsidiary Deako announced it will supply over 80,000 units to 1,000 homes of prominent builder Maronda Homes.
- The Company recently signed an agreement to supply two 65 stories luxury Trump Towers with over 2.2 million SQF in one of India’s leading tech cities Hyderabad, expecting to deploy tens of thousands of units.
- SKYX recently announced it will supply its technologies during a renovation of a Marriott city center hotel in Durham, NC.
Maintaining Strong Cash Position
- The Company reported
$27.7 million in total cash, cash equivalents, and restricted cash as of the end of the second quarter of 2026 and continues to maintain a strong cash position to achieve its business goals, including achieving positive cash flow as it exits 2026. - The Company reported 10 consecutive quarters of year-over-year growth and expects to continue this pattern of quarterly growth.
SKYX Patented Turbo Heater Fan
- Despite a very hot summer, SKYX’s sales of its patented Turbo Heater Fan continued to grow during the summer with all retailers, including Home Depot, Lowe’s, Target, Walmart, Costco, Amazon, Wayfair, and through SKYX’s e-commerce platform of 60 websites.
- The Company expects sales of its Turbo Heater Fan to grow significantly during the fall and winter seasons in both the retail and builder segments.
- Due to increasing demand, SKYX intends to launch new designs in both larger and smaller sizes and in five different colors.
SKYX Deako Merger Highlights
Synergies
- SKYX’s full product line is expected to create an opportunity to increase Deako’s revenue per home by up to fivefold.
- Synergies between SKYX and Deako are expected to reduce annual cash expenses by over
$6 million . In addition to expected revenues from sales, both SKYX and Deako use the razor-and-blades model and are expected to provide additional future revenues from upgrades, as well as recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, and licensing, among other sources. - The merger opens the door for Deako’s products in SKYX projects, including Marriott and European hotels and Miami’s
$4 billion Smart City.
Stock Consideration & Lock-Up
- In consideration for the merger, SKYX issued 25,000,000 shares of common stock, subject to a 12-month full lock-up (followed by quarterly leak-out releases at 12, 15, 18, and 21 months after the closing, with share sales subject to a Rule 10b5-1 trading plan).
Deako’s Market Acceptance and Strategic Relations
- Deako’s lead investors include Paul Jacobs, former Chairman and CEO of Qualcomm; Deako’s former board member Marwan Fawaz served as CEO of Nest (Google).
- Deako has recently extended its supply agreement with leading builders D.R. Horton and Stone Martin.
- Deako has shipped over 32 million units, including its smart plug-in wall switches, and generated over
$26 million in revenue in 2025. - Deako is a leading technology supplier with over
$26M in 2025 revenues and has shipped over 32 million units, including its smart home plug-in wall switches, to over 50 U.S. homebuilder customers, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes, and Schumacher Homes, among many others. - The merger between SKYX and Deako will enable SKYX to offer an A-to-Z AI and smart home plug & play solution for homes and buildings, including wall outlets, wall switches, and ceiling outlet boxes for smart home and safety products, lighting, ceiling fans, and smoke detectors, among others.
- Most smart home solutions today require time-consuming and costly wired installation and address only part of the A-to-Z opportunity, while the combined company aims to offer a complete A-to-Z AI and plug & play smart home solution.
SKYX’s Signed Agreements Prior to Merger with Builder / Hotel Segments
- The Company recently signed an agreement to supply two 65 stories luxury Trump Towers with over 2.2 million SQF in one of India’s leading tech cities Hyderabad, expecting to deploy tens of thousands of units.
- SKYX recently announced it will supply its technologies during a renovation of a Marriott city center hotel in Durham, NC.
- SKYX announced its technology will become a brand standard for European hotel developer Group OTT, a developer of over 250 hotels and buildings across Europe.
- SKYX’s future U.S. and international projects include Miami’s new
$4 billion Smart City and projects in North Carolina, Austin, San Antonio, South Florida, New York, Europe, Saudi Arabia, and Egypt. - SKYX is progressing toward its goal to become a brand standard for national and international hotel chains and builders.
Technology Licensing and Roadmap
- SKYX has recently signed a licensing agreement for its advanced technologies with Eurofase, a leading lighting company in the U.S., Canada, and global markets.
- SKYX expects to continue its licensing model for its vast patent portfolio as part of its safety code standardization efforts, as well as through licensing to leading tech companies.
- SKYX will be launching a new AI-driven system and infrastructure for its e-commerce platform of 60 websites, expected to significantly increase its conversion rate and sales.
- The Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers in the U.S., Vietnam, Taiwan, China, and Cambodia.
Safety Standardization Mandatory Code and Insurance Exposure
- SKYX's Safety Code Standardization Team is receiving support from a prominent new leader in connection with its government safety agency process for mandatory safety standardization of its electrical ceiling outlet/receptacle technology.
- SKYX’s code team is led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). The Company’s Safety Code Standardization Team believes it will garner assistance from additional safety organizations in its mandatory safety code standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, considering the Company’s standardization progress, including ANSI / NEMA (American National Standards Institute / National Electrical Manufacturers Association) voting to approve its product specification and its technology being voted into 10 segments of the NEC Code Book, its technology has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings.
- The Company strongly believes its products can save insurance companies many billions of dollars annually by minimizing risks (e.g., reducing fires, ladder fall injuries, and electrocutions). Management expects that insurance companies will use the Company’s range and variations of its safe advanced plug & play products to reduce their exposure and minimize their risks.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 120 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home décor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target,” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s ability to achieve positive cash flows; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become mandatory under the National Electrical Code (NEC), code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
Ronald A. Both
Encore Investor Relations
rb@encore-ir.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How large is SKYX’s combined pipeline with Deako?
The combined SKYX and Deako pipeline is estimated at over 4 million units, with an expected average selling price of approximately $50 per product. These figures describe an estimated pipeline and expected pricing, not completed sales.
What cash expense savings does SKYX expect from the Deako merger?
SKYX expects merger synergies to reduce annual cash expenses by over $6 million. The savings are an expectation, not a reported reduction already achieved.