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On Tuesday, 24 June 2025, SKYX Platforms Corp. (NASDAQ:SKYX) presented at the IAccess Alpha Virtual Best Ideas Summer Investment Conference 2025. The company’s CEO, Lenny Sokolow, outlined SKYX’s ambitious vision to transform home and building safety with its innovative Sky Plug system. While showcasing promising growth and strategic partnerships, the company also faces the challenge of achieving widespread adoption of its technology.
Key Takeaways
- SKYX aims to set a new global standard with its plug-and-play fixture technology.
- The company reported significant revenue growth and strategic partnerships with major retailers.
- Regulatory approvals have positioned SKYX to redefine traditional receptacle standards.
- A major smart city project in Miami is expected to include over 500,000 installations.
- SKYX plans to achieve cash flow positivity by the end of the year with its new fan/heater product.
Financial Results
SKYX Platforms reported a notable increase in sales, from $58.8 million in 2023 to $86.3 million in 2024. The company recently raised $15 million through a preferred convertible offering at $2 per share in October 2024. SKYX has experienced nearly five consecutive quarters of growth and anticipates that its all-in-one fan/heater product will drive cash flow positivity by year’s end.
Operational Updates
SKYX is making strides in the smart city sector, particularly with a three-year project in downtown Miami’s Wynwood area. This initiative is expected to feature over 500,000 installations of smart platform technologies. The company has partnered with two of Miami’s largest builders and a major international builder.
Distribution partnerships have been secured with leading retailers such as Home Depot, Wayfair, and Kitcher, along with European and Chinese partners, Quizzell and Rui Appliances. The product lineup includes three generations: Plug, Smart, and the soon-to-be-produced All-in-One platform, compatible with Siri, Alexa, and Google Home.
Future Outlook
SKYX is pursuing regulatory mandates for its technology, supported by industry leaders Mark Early and Eric Jacobson. The company plans to expand its product lines to include recess lighting and exit signs, while also implementing a licensing strategy to accelerate growth. The smart city market is viewed as a key area for early adoption of SKYX’s technology.
Q&A Highlights
During the Q&A session, Sokolow addressed the ANSI and NEMA approvals, emphasizing the strategic partner pipeline. The Miami smart city project was highlighted as a significant opportunity for growth, with more partnerships expected as developments progress.
For a detailed understanding of SKYX Platforms’ strategic initiatives and future plans, readers are encouraged to refer to the full transcript below.
Full transcript - IAccess Alpha Virtual Best Ideas Summer Investment Conference 2025:
Operator: Access Alpha Virtual Best Ideas Summer Investment Conference two thousand twenty five. The next presenting company is SKYX Platforms Corp. If you would like to ask a question during the webcast, you may do so at any point during the presentation by clicking the ask question button on the left side of your screen. Type your question into the box and hit send to submit. I’d now like to turn the floor over to today’s host, Lenny Sokolow, CEO of SKYX Platforms Corp.
Sir, the floor is yours.
Lenny Sokolow, CEO, SKYX Platforms Corp.: Thank you very much, and thank you for the opportunity. I just wanted to I’ll go through our main slides and give make sure everyone has an overview of what we have at SkyX with you know, and our mission, of course, is making homes and buildings safe, smart, and advanced as a a new standard. And, of course, we’ve got our disclosures, cautionary statements, and I’m gonna play a three minute video and give you a nice overview of our product.
Unidentified speaker, Narrator: Skyx platforms. Skyx, the future is here. Advancing, simplifying, while saving time, cost, and lives. Skyx’s technologies won seven CES awards and has nearly 100 US and global patents and patent applications. Thomas Edison invented the light bulb that for many years was installed by twisting hazardous wires until inventing the Edison base that became the global standard in every home and building for billions of light bulbs.
Billions of fixtures are installed annually while touching hazardous dangerous wires and risking lives. SkyX has a goal to follow Edison’s path to become a US and global standard in homes and buildings for billions of fixtures, including smart home, AI, lighting, and fans to become plug and play, advancing their performance, making homes become safer and smart within seconds, while saving time, cost, and lives. Our Gen one Sky Plug enables a safe installation of light fixtures, ceiling fans, smart home, and electronics within seconds, making it safe, easy, and convenient for the user. First time installation takes a minute to install and it is safe to touch. Sky Plug is recognized as part of the NEC, the National Electrical Code, and mentioned in multiple publications acknowledging the safety and the usability its technology brings to the electrical profession.
Our gen two is a smart Sky Plug, takes only seconds to install, and is integrated with the newest technologies and platforms. The Sky Plug Smart is integrated with many smart features, including phone control, voice control, energy saving eco mode, scheduling, dimming, works with Siri, Alexa, Google, Cortana, and SmartThings. It has an emergency light, night light, color changing light. Our Gen three Sky all in one smart home platform enhances your all around lifestyle, making your home become smart and safe instantly. It includes the most advanced smart and safe features that are necessary for every home.
The Sky platform installed safely and simply within minutes to the top center of your ceiling, blending inconspicuously with your decor. The Sky platform is integrated with a backup power failure LED light. In the center of the Sky platform is embedded the Sky outlet as approved by the National Electric Code. Sky plug lighting, fans, accessories can connect with the click of a button to the Sky platform. A series of Sky platforms installed in a home could repeat WiFi signal and play the same music throughout the house.
In the event of a fire, the integrated smoke and c o two sensor would make an alarming sound. The Skyhome app can easily control light intensity, motion detector, light color control, temperature and humidity monitoring, room to room intercom, control volume and music in each room. SkyX platforms.
Lenny Sokolow, CEO, SKYX Platforms Corp.: Okay. So sorry. There have been at least some audio problems that we’re having. So we have know, I’m sure you’ve seen the slides, but the CAGR growth has been extraordinary. We have, as I said before, the the growth in the markets in in multiple ways for home construction, and new buildings, etcetera, will will continue.
And smart, you know, smart buildings, are, again, 97 patents, 36 issued globally. So to continue on, and I know some of the audio has been missed, we have the slides are a little lagging. I’m sorry. The $20.23, 58,800,000.0 in sales. $20.24, 86,300,000.0.
And we we’ve had almost five consecutive quarters of growth. We did a six with insiders and and the strategic investors, we did a a 15,000,000 raise starting on October of twenty twenty four for a preferred convertible of $2 per share. We have we have, again, our three generations, the plug, the smart, and the all in one, which is will be in production by the end of this year. We have already in the market through our app and and control our generation two, and it works with Siri, Alexa, Google Home, etcetera. In the last few years, we we’ve won seven CES awards, and we’ve announced a few weeks ago, the $3,000,000,000 smart urban city in Miami was announced.
This is Downtown Miami. The Wynwood, which is the the graffiti, you know, cool area that they’ve built. You have South Beach over here in the horizon, and we’re the smart city is just north of that. We we expect to have over 500,000 installations of our our smart platform technologies and products. And we and we know that’s a conservative number.
They’re gonna it’s gonna be mixed use commercial and train station to name the other construction that they’ll have there. This is gonna be a, you know, what you know, a a three year project. We have announced two largest builders in Miami as well as one of the most the biggest international builder. And so this is, we think, also a beginning for the smart cities and that we find them as early adopters. So in terms of distribution, we’ve had the the Home Depot, Wayfair, Kitcher.
These are all announced relationships. Quizzell, Agba, the largest in Europe, and Rui Appliances, which is the largest Chinese manufacturer for The US, the Chinese markets, and the European markets. They do about half of the manufacturing for these markets. They’ve provided, as a partner, also financing financial support similar to the financial, you know, opportunity that we use on our websites where we use the Dell model. We collect day one.
We don’t pay the vendors till thirty sixty ninety six thirty to sixty days. So we have we’ve also, again, solving this problem of the wires and the plug and using our technology. And so what we’ve done is from a mandatory this is now the the the the regulations behind all of those accomplished. You have the wall outlet here on the left. Lights used to be put in by three wires, and then the outlet was created in nineteen o four.
Again, the Edison bulb didn’t didn’t become a standard till the Edison socket was created. Nineteen eighties, you have the ground fault circuit interrupter. I know you all have that in your your home or, yeah, in terms of your kitchen or bathroom because it was mandatory in the eighties. This they they created a standard, and your your your buttons may be different color, but everything is a GFCI ground fault circuit and a rupture. The people that all have these patents, they still get royalties on them.
But what’s interesting is that the people the inventors of the the wall outlet and the GFCI, they they have patents only on the receptacle, not on what got plugged into it. We’re different. We have patents on both sides, the receptacle and the our plug. Very unusual. And I actually met the founder and the executive chairman over thirteen years ago.
I was the executive general counsel and EVP of a a hair company made hair dryers. And then in the eighties, just after this g GSCI was mandated, I went through the process of having to license this technology, and all the hair dryer companies like GE and Phillips and Sunbeam, Conair, like my company, we had to go license this technology, and it’s now mandatory. You go and buy a hair dryer today. It’s on the end of the cord. And so this is the standard, and this is what the the the the landscape that we completely have in The United States.
And so what we’ve done is that, you know, we’ve we’ve created a standard, just like the solution the solution. This is the equivalency of concepts. So if you the wall outlet that is involved in our outlet. And so what’s what’s transpired is the in terms of the the saline receptacle and why the TAM is so huge is that there’s, you know, there’s so many installations. You’ve got four hundred hundred over a 140,000,000 homes in The US and about 30 fixtures or installs in The US, about five times more than than the wall outlet.
And you’ve the the market for this is massive, and this is just in The US and just in residential. We’re we’re talking about, annually, about 420,000,000 US fixture installs in The US, and then you get the commercial. It’s it’s that much, if not more. So, you know, again, when we went to the regulators, we we presented the equivalency of concepts just like the wall outlet. We have the junction box, which is standard, and we don’t cannibalize anybody.
We don’t replace this. The three wires come out of here, and our those three wires go into our receptacle. We screw in the bracket, cover plate, finished product, and then the plug. So this is what the regulator saw, and this is what we’ve accomplished, really. When you think about FDA or the equivalent, it’s like we got almost over over 10 FDA phase three approvals.
19 o four is the water receptacle. We talked about the eighties, the ground fault circuit interrupter became mandatory. And what happened is over the last thirteen years, we’re we’re at 10 segments in the electrical code. And two years ago, we got approved by ANSI, which most people don’t know. It’s probably even more groundbreaking.
Those are the standards for the commercial buildings. Excuse me. And they this is you you can’t put in rebar or concrete without getting ants having an answer to your subject to answer specifications. We got ANSI approval, which is very unique and very rare. And the American Institute of Architects was already training on our on our solution or products.
So what happened basic basically, after all these segments that were approved and mandated, after a hundred and twenty years, the definition of a receptacle got changed, which most people don’t know. And this is a little disconnect we have in the marketplace because if people knew what they know about the FDA, about the NEC, we would it there’d be a better understanding. But now the the National Electrical Code has changed the code to add a second defined receptacle. You have this one, old from nineteen o four, and you have hours. And so what’s happened is that as a result, a builder could put in a wall outlet.
They don’t need to plug in lamps. They got their seat certificate of occupancy or a permit. They could put in a ceiling receptacle or sconce or an outdoor light, and they don’t need to put in a fixture or a cheap fixture. They just need to put this in. They could get their certificate of occupancy or permit.
It’s that’s one that one is a groundbreaking time saving and money saving, but that’s not really the best part. And then they what what besides that, they’ve now given us a a generic name already. This is all, you know, codified. They’ve called the they’ve called us the WSER, just like the GFCI. We’re the weight support ceiling receptacle.
We’re a receptacle, but we can hold weight. We can hold 200 pounds. The junction box only holds 50. So we we’re we’re we’re overengineered from a weight perspective. So it’s it’s what’s groundbreaking is that over after a hundred and twenty years, the definition has been changed.
We’ve been given a a generic name. It’s already in the NEC code book. And the next step that we’ve done is that we’ve applied for mandatory. And the guys that signed our application, just to remind you, are these two guys, Mark Early, had the code and Eric Jacobson. We’ve also announced a very prominent person who’s very close with the US administration and president that the the and a lawyer and very well prominent internationally has concluded that there’s at least four other US agencies that can also require this to be mandatory because we’ve proven that we save lives, and we we mitigate damage damages and property damage.
This is the data from the National Fire Protection Association, which is the parent umbrella to the national electrical code. There’s over four hundred and thirty civilian deaths per year and thousands of injuries annually. This was just from twisting wires of fixtures in the ceiling. Response was wrong. They may work for a couple years, but they’ll maybe they’ll they’ll start to spark an arc if it wasn’t done correctly.
And then over five hundred thousand ladder falls and hundreds of deaths annually. Yesterday, I spoke to someone, an analyst who said their uncle died changing a light bulb in their garage from being on the ladder. And, of course, the tens of thousands of electric shocks, you know, annually. So this is their data. This is they they don’t they didn’t give us these code provisions because they like us.
It’s because we save lives according to their own data. So our whole strategy is is basically to you know, when the builder builds the building, they’re putting in, you know, the receptacle, they’re putting nonreceptacle. And they could get their certificate, and then, you know, it’s a we call it the razor and blade model, not to be as simplistic. But and then all these products can click right in and be chain interchange. The reason why the lighting companies have collaborated with us is they believe that we will reduce the velocity we’ll increase the velocity and reduce the replacement cycle of lighting sales because it would be so easy to replace your light.
And you’ve seen already for two seasons, we’ve got the Christmas tree that you plugged in. So we all these products, these are already sell selling on our websites. These are landed already with the plugs ready to go, and we have patents on all of those recess lighting, which is the massive lighting, and global patents and the exit signs, of course, for commercial and emergency lights. And then the fans, we announced a fan that we’re launching and getting great demand for our an all in one fan that we’ve that we’ve have a global patent score. It’s a fan and a heater.
And, for all season, the big box stores, we believe, will be very interested in this and are very interested in this. We did a press release yesterday. And the turbofan below, fan to cool, and the same thing. It was two different styles. And what we didn’t know, thinking we’re smart sometimes, we know it all, but we didn’t know that these big box stores have a big problem with these box heaters that the people do have fires and and injuries and death, and they sue the manufacturer, and they sue the retailer.
And having these heaters off the floor is why we designed it for safety, but we didn’t realize that these corporate these enterprises, there’s a whole there’s a whole risk, issue for them as well, for liability. So this is a major product. We this is a product we believe will get us to cash flow positive by the end of this year. And, of course, it’s smart. It comes with all our smart features.
So, this is a very quick overview. I know we we have limited time. We have all of our products, you know, available box, you know, the you know, ready to go, selling the outlets all in one platform for later this year, etcetera. And then we have a a licensing strategy that we’ve, you know, that we developed, go to market, and we’re prepared to license all of what we have to third parties. This is the market’s so vast.
It’s incredible. So maybe with that, I will see if there’s any q and a. And we’re and I could do quickly one question is and I I’m not sure what the there was a referral about ANSI and NEMA. The the ANSI and NEMA has already approved the product. I I think it’s unrelated to what the regulators do, but it does help.
The and, again, the mandate opportunities are broader now with other government agencies. And I apologize for the sound getting cut off. Another another quick question is how is the pipeline of new partners and distributors? Some of them are you know, the pipeline’s good. We we just I mean, we just announced the smart city, which is massive in a quant in unit opportunity.
Very large developers we’ve announced. And and, you know, and there’ll be more, you know, more penetration, you know, when the when it’s when all these things are to become something that we make sure that it’s reportable. So if I think that’s it for the questions. In terms of time, we got about a minute left. So, you know, I hope you know, if got there’s any further interest, you know, how to con they’ll be they’ll know how to contact me.
Happy to have a one on one. And, also, you know, a full presentation because I know this was a short when you have when the if there’s an interest, I could do a full presentation or Zoom. So we’re we make ourselves available to, you know, anyone that has an interest. So we appreciate your interest as well. I think that’s it, mister moderator.
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