Sql Technologies Corp ( (SKYX) ) has released its Q2 earnings. Here is a breakdown of the information Sql Technologies Corp presented to its investors.
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SKYX Platforms Corp., also known as SKYX Technologies, is a platform technology company specializing in advanced smart home solutions with a focus on safety and efficiency, operating primarily in the U.S. and Canadian markets. The company boasts over 100 patents and a robust e-commerce presence with 60 websites dedicated to lighting and home decor.
In its latest earnings report, SKYX Technologies announced a record revenue of $23.1 million for the second quarter of 2025, marking a 15% increase from the previous quarter. The company attributes this growth to its expanding market penetration and strategic collaborations in the smart home sector.
Key financial highlights include a 23% increase in gross profit to $7 million and a significant reduction in net cash used in operating activities by 54% to $2 million. SKYX also reported a strengthened cash position of $15.7 million, up from $12.3 million at the end of the first quarter. Strategic partnerships, such as a major collaboration with a $3 billion smart city project in Miami, are expected to further bolster the company’s market presence.
The company continues to innovate with new product launches, including a patented all-in-one smart turbo heater and ceiling fan, targeting a multi-billion-dollar market. SKYX’s collaboration with global manufacturers and retailers like Home Depot and Wayfair aims to enhance its product distribution and market reach.
Looking ahead, SKYX Technologies remains optimistic about its growth trajectory, supported by strategic investments and partnerships. The management is confident in achieving cash flow positivity in 2025, leveraging its innovative product offerings and expanding market footprint in the smart home industry.