SKYX Platforms Corp. (NASDAQ: SKYX) announced record second-quarter 2026 revenue of $25.3 million, a 14% increase sequentially from $22.1 million in Q1 and a 10% rise year-over-year from $23.1 million. This marks the company’s 10th consecutive quarter of year-over-year growth, underscoring consistent demand for its smart home and building technologies.
The company’s gross profit climbed 4% year-over-year to $7.3 million, while its net loss narrowed to $8.2 million, or $0.06 per share, compared to $8.8 million, or $0.08 per share, in the same period last year. Cash used in operating activities decreased 39% sequentially to $3.7 million from $6 million, reflecting improved operational efficiency. SKYX ended the quarter with $27.7 million in cash, cash equivalents, and restricted cash, which management believes is sufficient to achieve its goals, including becoming cash flow positive as it exits 2026.
These results are particularly significant as SKYX continues to scale its operations and expand its market reach. The company plans to deploy more than 1 million units through its projects and over 100,000 units and homes through its pro and retail segments by the end of 2026. This includes ongoing and planned projects in the U.S., Europe, Saudi Arabia, and Egypt, as well as expanded retail distribution of its patented SKYFAN and Turbo Heater products.
In addition to geographic expansion, SKYX is investing in innovation. The company is developing an AI-driven system for its 60-site e-commerce platform, which could enhance customer experience and operational efficiency. Furthermore, SKYX continues to advocate for safety-mandated standardization of its ceiling outlet and receptacle technology, a move that could position the company as a leader in home safety standards.
The company’s mission is to make homes and buildings safe, advanced, and smart as the new standard, leveraging over 100 U.S. and global patents and patent pending applications. With a portfolio of 60 lighting and home decor websites, SKYX targets both retail and commercial segments, emphasizing high quality, ease of use, and enhanced safety.
Investors and industry observers will be watching SKYX’s progress toward cash flow positivity and its ability to sustain growth in a competitive market. The company’s strong quarterly performance and strategic initiatives suggest a promising trajectory, but execution and market adoption remain key factors.
For more information, visit the full press release at https://ibn.fm/WjxWu and the company’s newsroom at https://ibn.fm/SKYX.
