SKYX reports sixth consecutive quarter of revenue growth

MIAMI - SKYX Platforms Corp. (NASDAQ:SKYX) reported pre-audited revenues of $23.1 million for the second quarter ended June 30, 2025, marking its sixth consecutive quarter of revenue growth, according to a company press release. The company has achieved a 12.42% revenue growth over the last twelve months, though InvestingPro data shows it faces profitability challenges with negative EBITDA of $29.05 million.

The smart home technology company’s second-quarter revenue represents an increase from $20.1 million in the first quarter of 2025. SKYX has maintained consistent quarterly revenue growth since the beginning of 2024, reporting $19 million in Q1 2024, $21.4 million in Q2 2024, $22.2 million in Q3 2024, $23.7 million in Q4 2024, $20.1 million in Q1 2025, and now $23.1 million in Q2 2025. According to InvestingPro analysis, the stock appears undervalued despite current market challenges, with analyst price targets ranging from $2 to $5.

SKYX, which develops smart home platform technologies with over 97 issued and pending patents globally, expects its products to be installed in 40,000 units or homes by the end of Q2 2025 across the United States and Canada through retail and professional segments.

"We are extremely proud to report record second-quarter revenues as we continue to build on six straight quarters of growth," said Rani Kohen, Founder and Executive Chairman of SKYX Platforms, in the press release.

The company maintains a portfolio of over 60 lighting and home décor websites and is pursuing a "razor and blades" business model, which it claims may provide opportunities for recurring revenues through product interchangeability, upgrades, monitoring, and subscriptions.

Management expects upcoming product launches, including smart heater fans, to contribute to achieving cash flow positivity in 2025. The company continues to leverage its cash position through its e-commerce platform and support from strategic investors and insiders. However, InvestingPro analysis reveals concerns about liquidity with a current ratio of 0.64, indicating short-term obligations exceed liquid assets. For deeper insights into SKYX’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

SKYX describes its mission as making homes and buildings "smart, safe, and advanced as the new standard" through its platform technologies.

In other recent news, SKYX Platforms Corp. has been granted eight new patents across multiple countries, including the United States, India, and several European nations. This development expands the company’s intellectual property portfolio to over 100 issued and pending patents, with 45 now officially issued. SKYX Platforms is also set to introduce a smart ceiling fan and heater combo in the third quarter of 2025, targeting both residential and commercial markets. Manufacturing for this new product is already underway, aiming for a launch that aligns with the upcoming winter season. Additionally, SKYX Platforms is poised to join the Russell 2000 and 3000 indexes, with its official inclusion scheduled for June 27, 2025. The company’s entry into these indexes is part of FTSE Russell’s annual reconstitution process. Furthermore, SKYX Platforms has partnered with SG Holdings to develop a $3 billion mixed-use smart city in Miami’s Little River District. This project will feature over 5,700 residential units and significant retail and commercial spaces, along with extensive green walkways and a new Tri-Rail station.

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