SKYX Reports 14% Growth and Record Sales of $25.3 Million in Q-2 2026 Compared to $22.1 Million in Q-1 2026 and 10 Consecutive Quarters of Growth YoY and as It Continues to Grow Its Market Penetration
Rhea-AI Summary
SKYX (NASDAQ: SKYX) reported record Q2 2026 revenue of $25.3 million, up 14% from $22.1 million in Q1 2026 and 10% from $23.1 million in Q2 2025, marking 10 consecutive YoY growth quarters. First-half 2026 revenue rose 10% to $47.4 million.
Gross profit reached $7.3 million in Q2 2026 (up 4% YoY) and $13.9 million for the first half (up 10% YoY). Net loss narrowed to $8.2 million in Q2 2026 versus $8.8 million a year ago, with net loss per share improving to $0.06 from $0.08. Adjusted EBITDA loss was $3.5 million, better than Q1 2026 but higher than Q2 2025.
Cash, cash equivalents and restricted cash increased to $27.7 million as of June 30, 2026, from $10.1 million at December 31, 2025, supported by a $29 million straight equity raise. Net cash used in operating activities fell 39% sequentially to $3.7 million, and interest-bearing debt was reduced by $2.0 million.
Positive
- Record Q2 2026 revenue $25.3 million, +14% QoQ and +10% YoY
- First-half 2026 revenue $47.4 million, up 10% from $43.2 million in 2025
- Gross profit up 4% YoY in Q2 2026 to $7.3 million
- Net loss reduced to $8.2 million in Q2 2026 from $8.8 million in Q2 2025
- Operating cash use down 39% QoQ to $3.7 million in Q2 2026
- Cash and equivalents increased to $27.7 million from $10.1 million after $29 million equity raise
Negative
- Net loss remains high at $8.2 million in Q2 2026
- Adjusted EBITDA loss $3.5 million in Q2 2026 versus $2.6 million in Q2 2025
- Working capital deficit equals 9.8% of revenues despite favorable structure
News Explained
SKYX disclosed two-priced equity financing and extended $13.5 million of notes to 2030; ownership dilution remains unquantified.
SKYX reported results for the quarter ended
Because the cash was raised through equity rather than debt, the transaction can affect existing holders’ ownership percentages, but the release does not state the number of shares issued or the resulting dilution.
SKYX also says it extended
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 10 | Corporate update call | Neutral | +0.0% | Scheduled Q2 earnings call and broader corporate update with no reported operating results. |
| Jul 22 | Hotel supply agreement | Positive | +8.2% | Planned technology supply for a Marriott Durham City Center hotel renovation project. |
| Jun 10 | Hotel deployment announcement | Positive | -3.6% | Planned deployment during renovation of five-star Mozart Prague hotel operated by Accor. |
| May 20 | Licensing agreement | Positive | +5.5% | Signed licensing agreement expanding technology access across global lighting markets. |
| May 11 | Q1 earnings report | Positive | -5.8% | Reported record Q1 revenue and consecutive growth, alongside financing and cash updates. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
SKYX's recent news reactions were mixed, with positive announcements producing both aligned gains and divergent declines.
Key Terms
adjusted ebitda financial
non-gaap measure financial
restricted cash financial
net working capital deficit financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SKYX Reports over
Gross Profit Continues to Grow with
SKYX Recently Announced it Will Supply Its Technologies During a Renovation of a Marriott City Center Hotel in Durham, NC
In May 2026 SKYX Announced Its Technology Will Become Brand Standard for European Hotel Developers Group OTT, Developer Over 250 Hotels and Buildings Across Europe
In May 2026 SKYX Announced Its First European Hotel in France During a Renovation of an Historical Architectural Preservation Hotel, The Grand Hotel du Parc (formerly The Grand Medicis Hotel)
In June 2026 SKYX Announced It Will Deploy Its Technologies to Its Second European Hotel During a Renovation of 5-Star Accor Hospitality Group Hotel Mozart Prague
SKYX Signed Additional Agreement with Group OTT Heritage Hospitality Group to Deploy and Market Its Technologies to Vast European Hotel Market of Over 132,000 Hotels
In May 2026 SKYX Signed a Licensing Agreement for Its Advanced Technologies with U.S., Canada, and Global Leading Lighting Company Eurofase
SKYX Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During the Course of Its Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments
SKYX’s Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San Antonio, South Florida (Including Miami’s New
Despite One of the Hottest Summers on Record, SKYX’s Sales of Its Patented Turbo Heater Fan are Continuing to Grow and Company Expects Sales to Significantly Grow Towards Fall and Winter Seasons and Will Provide Additional Products in New Designs and Larger Sizes
SKYX’s Technology Expansion Provides Additional Opportunities for Future Recurring Revenues Through Interchangeability, Upgrades, AI Services, Monitoring, Subscriptions, and More
SKYX’s Enhanced Safety Code Standardization Team Continues Its Progress Toward Its Goal of a Safety-Mandated Standardization in Homes/Buildings of Its Life-Saving Ceiling Outlet/Receptacle Technology
MIAMI, Aug. 12, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive advanced smart home and AI platform technology company with over 100 pending and issued patents globally and 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported its financial and operational results for the second quarter ended June 30, 2026.
- SKYX will hold a conference call today, August 12, 2026, at 4:30 pm, Eastern Time, to discuss the results. See below for dial-in information.
Second Quarter 2026 Highlights and Recent Events
- Generated an increase of
14% in revenues to a record$25.3 million in second quarter 2026 compared to$22.1 million in revenues in first quarter 2026 and an increase of10% compared to$23.1 million for the second quarter of 2025. - As of June 30, 2026, Company reported
$27.7 million in total cash, cash equivalents, and restricted cash compared to$10.1 million as of December 31, 2025. - Reporting 10 consecutive YoY quarters of growth.
- Revenues for the six months ended June 30, 2026, increased
10% to a record$47.4 million compared to$43.2 million for the six months ended June 30, 2025. - SKYX continues to leverage the rapid conversion of its e-commerce sales into cash, advancing it’s cash position often referred to as the “Dell Working Capital Model”, lowering its cost of capital.
- Management believes it has sufficient cash to achieve its goals including becoming cash flow positive exiting 2026.
- The gross profit for the second quarter ending June 30, 2026, increased comparatively to the second quarter of 2025 by
4% to$7.3 million . Gross profit for the six months ended June 30, 2026, increased comparatively by10% to$13.9 million , compared to$12.7 million for the six months ended June 30, 2025. - Net loss decreased by
$0.6 million to$8.2 million in the second quarter of 2026 compared to$8.8 million in the second quarter of 2025 and decreased by$1.1 million sequentially compared to$9.3 million in the first quarter of 2026. - Net loss per share was
$0.06 per share in the second quarter of 2026 compared to$0.08 in the second quarter of 2025. - Adjusted EBITDA loss, a non-GAAP measure, improved sequentially to
$3.5 million in the second quarter of 2026 from$3.9 million in the first quarter of 2026, as compared to$2.6 million in the second quarter of 2025. - Net cash used in operating activities was reduced by
39% to$3.7 million in the second quarter of 2026 from$6.0 million in the first quarter of 2026. - The Company reduced interest-bearing debt by
$2.0 million as of June 30, 2026. - The Company maintains a structurally favorable working capital profile, with customers paying in advance of supplier payment obligations. This results in a net working capital deficit representing
9.8% of revenues and supports rapid conversion of e-commerce sales into operating cash flow.
Builder / Hotel Segments and General Market Acceptance
- SKYX Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During the Course of Its Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments.
- SKYX’s Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San Antonio, South Florida (Including Miami’s New
$4 Billion Smart City), New York, Europe, Saudi Arabia, and Egypt. - SKYX announced the launch of its patented advanced SKYFAN and Turbo Heater to the leading U.S. retailer The Home Depot, including a new SkyPlug branding page on HomeDepot.com.
- SKYX recently announced the launch of its Turbo Heater fan at leading U.S. retailers Target, Walmart, and Lowe’s, and on its e-commerce platform across 60 websites.
- Based on the Growing Sales of its patented Turbo Heater fan, SKYX is expanding the category of the “All-Season Ceiling Fan” — heat in winter and cool in summer — to provide additional products in new designs and larger sizes.
Technology Roadmap
- SKYX’s technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more.
- 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 including in the U.S., Vietnam, Taiwan, China, and Cambodia.
- SKYX announced a collaboration with the NVIDIA AI Ecosystem Connect Program. SKYX expects to grow its collaboration with NVIDIA through its existing and future smart home projects.
Safety Standardization Mandatory Code and Insurance Exposure
- SKYX's Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety agency’s process for a safety mandatory 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 with its code mandatory safety 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 its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it 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 its exposure and minimize its risks.
Financing Highlights
- SKYX cash, cash equivalents and restricted cash increased to
$27.7 million as of June 30, 2026, as compared to$10.1 million as of December 31, 2025, as we raised$29 million in straight equity, with no warrants during January 2026 through two fundamental institutional investors,$25 million at$2.50 per share and$4 million at$2.00 per share. - In 2025 we extended
$13.5 million in notes coming due with maturity out to 5 years until 2030.
Second Quarter 2026 Financial Results
The Company’s financial statements for the quarter ended June 30, 2026, are filed with the SEC and are available on the Company’s investor relations website. https://ir.skyplug.com/sec-filings/
Management Commentary
Company’s Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen, Microsoft, Disney, GE, The Home Depot, Office Depot, Chrysler, among others.
The Company is trending positively, generating record second quarter 2026 revenues of
We are encouraged by the recently announced initiatives where we could supply hundreds of thousands of units in Europe, the Middle East including Saudi Arabia and Egypt, the
Furthermore, our e-commerce website platform with 60 websites enhances the acceleration of marketing and distribution channels, collaborations, licensing, and sales to both professional and retail segments. Our websites include banners, videos, and educational materials regarding the simplicity, cost savings, time-saving, and life-saving aspects of the Company’s patented technologies.
We have accelerated our pace of sales and strategic initiatives with a robust gross margin profile, notably reducing the net loss, the adjusted EBITDA loss, and the net cash used in operating activities of SKYX on a sequential quarterly basis. Our e-commerce platform with 60 websites is expected to continue to provide additional cash flow to the Company.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced smart home and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor 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://skyplug.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 First-party platforms or technologies; 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 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, including recent measures adopted by the federal government, 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.
Non-GAAP Financial Measures
Management considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating the Company’s business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as adjusted, enables management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as adjusted, as a primary measure, among others, to analyze and evaluate financial and strategic planning decisions regarding future operating investments and potential acquisitions. The Company believes that EBITDA, as adjusted, eliminates items that are not part of the Company’s core operations, such as interest expense and amortization expense associated with intangible assets, or items that do not involve a cash outlay, such as share-based payments and non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in addition to, rather than as a substitute for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This non-GAAP financial measure excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements and is subject to inherent limitations. Investors should review the reconciliation of this non-GAAP financial measure to the comparable GAAP financial measure. Investors should not rely on any single financial measure to evaluate the Company’s business.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
Ronald A. Both
Encore Investor Relations
rb@encore-ir.com
Dial-In Information:
Participating Management
SKYX Participating Members will Include:
- Rani Kohen, Founder and Executive Chairman
- Lenny Sokolow, CEO
- Steve Schmidt, SKYX President (former CEO of Nielsen Data Corporation and former President of Office Depot International)
- Marc Boisseau, CFO
Conference Call and Webcast Details
| Event | SKYX Platforms Corp. Second Quarter 2026 Earnings Conference Call |
| Date | Wednesday, August 12, 2026 |
| Time | 4:30 p.m. Eastern Time |
| Participant dial-in | 1-877-407-0792 (U.S./Canada) or 1-201-689-8263 (International) |
| Webcast | https://viavid.webcasts.com/starthere.jsp?ei=1772283&tp_key=ec3a5f5c6f |
Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6
Participants may use the dial-in numbers above and be assisted by an operator or use the Call me™ link for instant telephone access. The Call me™ link will become active 15 minutes before the scheduled start time.
Please connect at least 10 minutes before the start of the call to ensure timely participation.
Telephone Replay
A telephone replay is expected to be available approximately three hours after the conference call and will remain available through Friday, September 11, 2026, at 11:59 p.m. Eastern Time.
Replay dial-in: 1-844-512-2921 or 1-412-317-6671
