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MIAMI - SKYX Platforms Corp. (NASDAQ:SKYX) will provide its smart plug and play technologies for a 340-unit residential development in San Antonio, Texas, according to a company press release. The company, currently valued at $194.51 million with a stock price of $1.71, has shown impressive momentum with a 71.33% return over the past year according to InvestingPro data.
The project, developed by Landmark Companies, will include 88 townhomes and 252 apartments. SKYX expects to supply over 15,000 units of its technologies, including ceiling lighting, recessed lights, downlights, wall lights, exit signs, emergency lights, and plug-in LED backlight mirrors.
Landmark Companies, which has 27 years of experience in residential development, has built tens of thousands of units across Texas, Florida, Colorado, and other locations. The San Antonio development will feature amenities such as swimming pools, a gym, conference facilities, and landscaped green spaces.
"We are excited to continue collaborating with SKYX and bring their innovative technologies into our Austin Manor project," said Julia Baytler, CEO of Landmark Companies.
SKYX Platforms Corp. describes itself as a platform technology company with over 100 pending and issued patents globally. The company owns more than 60 lighting and home décor websites and focuses on developing safety and smart technology solutions for homes and buildings. Despite strong revenue of $90.75 million in the last twelve months, SKYX is not yet profitable, with analysts expecting the company to remain in the red this year, according to InvestingPro analysis.
The announcement indicates that SKYX and Landmark Companies plan to collaborate on additional upcoming projects. The company stated that its technologies expansion could provide opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, and subscriptions.Analysts appear optimistic about SKYX’s prospects, with a consensus recommendation of 1.2 and price targets ranging from $2.50 to $5.00, suggesting significant potential upside. InvestingPro data indicates the stock is slightly undervalued based on its Fair Value assessment. Investors seeking deeper insights can access the comprehensive Pro Research Report, available for SKYX and 1,400+ other US equities through InvestingPro.
In other recent news, SKYX Platforms Corp reported its Q3 2025 earnings, which showed a slight miss on revenue expectations. The company’s earnings per share (EPS) was -$0.07, compared to the forecasted -$0.06, resulting in a 16.67% negative surprise. Revenue was reported at $24 million, slightly below the anticipated $24.45 million. Despite this earnings miss, there were signs of growth in key areas for the company. The results indicate continued investor interest, as reflected in the modest aftermarket trading activity. Analysts have yet to provide an upgrade or downgrade following these earnings results. These developments suggest a cautious optimism among investors regarding SKYX Platforms’ future performance.
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