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MIAMI - SKYX Platforms Corp. (NASDAQ:SKYX), a technology company with a market capitalization of $125 million whose stock has declined 8% over the past week, announced Wednesday it will provide over 10,000 units of its smart plug and play technologies for a 278-apartment development in the Austin Manor area of Texas. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment.
The project, led by Landmark Companies, will incorporate SKYX’s ceiling lighting, recessed lights, downlights, wall lights, EXIT signs, emergency lights, and plug-in LED backlight mirrors, according to a company press release. While analysts maintain a strong buy consensus with price targets ranging from $2 to $5, InvestingPro data reveals several key factors affecting the company’s outlook. Get access to 6 additional ProTips and comprehensive analysis in the Pro Research Report.
Landmark Companies, a developer with 27 years of experience building residential properties in Texas, Florida, Colorado, and other locations, plans to equip the apartment complex with amenities including swimming pools, a gym, conference facilities, and landscaped green spaces.
"We are excited to collaborate with SKYX to bring their innovative technologies into our Austin Manor project," said Julia Baytler, CEO of Landmark Companies. "By integrating SKYX’s advanced plug-and-play solutions, we are raising the standard of safety, convenience, and design for our communities."
SKYX Platforms, which describes itself as a platform technology company with over 100 pending and issued patents globally, indicated the companies expect to collaborate on additional upcoming Landmark projects.
The company’s product line focuses on smart home technologies that can be installed using plug-and-play methods, emphasizing safety and ease of use in residential and commercial buildings.
The financial terms of the supply agreement were not disclosed in the announcement.
In other recent news, SKYX Platforms Corp reported its Q2 2025 earnings, highlighting a steady financial performance. The company achieved revenues of $23.1 million, slightly surpassing the forecasted $22.94 million. Earnings per share were reported at -$0.08, aligning with analyst expectations. Additionally, SKYX Platforms successfully demonstrated its advanced technologies during a renovation at a Marriott SpringHill Suites Hotel owned by the Shaner Group. This demonstration included plug-and-play technologies such as ceiling lighting, recessed lights, and LED backlight mirrors. These recent developments reflect SKYX’s ongoing efforts to integrate innovative solutions in practical settings.
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