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MIAMI - SKYX Platforms Corp. (NASDAQ: SKYX), a smart home technology company with a market capitalization of $153.57 million, has joined forces with SG Holdings to create a $3 billion mixed-use smart city in Miami’s Little River District. The project, led by the Swerdlow Group, SJM Partners, and Alben Duffie, aims to redefine the urban landscape with advanced technology integration. According to InvestingPro data, SKYX’s stock has shown strong momentum with a nearly 9% return over the past week.
The 63-acre development will feature over 5,700 residential units, including affordable and workforce housing, alongside 350,000 square feet of retail and commercial space. Additionally, the plan includes 1.5 million square feet of green walkways, parks, bike paths, shuttle lanes, and a new $35 million Tri-Rail station. This ambitious project comes as SKYX demonstrates revenue growth of 12.42% in the last twelve months, though InvestingPro analysis indicates the company operates with moderate debt levels.
SKYX is slated to provide more than 500,000 units of its smart home technologies, which are designed to enhance safety and convenience while offering potential long-term revenue through upgrades and subscriptions. These technologies include an all-in-one smart home platform, AI ecosystem, and various plug & play products such as smart lighting and emergency features.
The initiative not only promises to supply modern amenities typically found in high-end projects but also to offer free internet access to all community apartments. The development is poised to be a model for future smart urban living, incorporating significant technological advancements into the residential and commercial infrastructure.
This collaboration represents a significant step in the evolution of smart living spaces, with SKYX’s technologies poised to contribute to a safer and more efficient living environment. The project is a testament to the growing trend of integrating intelligent technology into urban development, aiming to enhance the quality of life for residents and setting a precedent for future projects in Florida and beyond.
The information reported is based on a press release statement from SKYX Platforms Corp.
In other recent news, SkyX Platforms Corp reported its Q1 2025 earnings, revealing a mixed financial performance. The company met its earnings per share (EPS) forecast of -$0.09 but fell short on revenue, reporting $20.1 million against an expected $21.15 million. Despite the revenue miss, SkyX Platforms achieved a 6% year-over-year increase in revenue, showing some growth momentum. The company also reported improved gross margins and a 29% decrease in net cash used in operations, which may indicate strides toward operational efficiency. SkyX Platforms is actively expanding its product line and has entered a strategic partnership with Profab Electronics, aiming to strengthen its supply chain. Analysts have noted the company’s potential for achieving cash flow positivity by the second half of 2025, as indicated by its guidance. Additionally, SkyX Platforms has secured approximately $4 million in additional equity, led by The Shaner Group, which underscores investor confidence in the company’s strategic vision. The company continues to focus on product innovation and strategic partnerships to bolster its market position.
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