Skyx Platforms reports FY24 EBITDA loss per share (13c) vs. (17c) in FY23

Reports FY24 revenue growth rom $58.8M 2023 to $86.3M in 2024. Generated a record $23.7M in revenue in Q-4 2024 compared to $22.2M in Q-4 2023, Consensus $23.6M…Reported $15.5M in cash, cash equivalents, and restricted cash, as of December 31 compared to $13M as of September 30.Revenue in 2024 increased to a record $86.3M including record sales of $23.7M which were realized in the fourth quarter including e-commerce sales, smart home products and advanced plug & play products. Gross profit in 2024 increased to $24.6M, or 28% of revenue. Gross profit was positively impacted by the gross profit from the acquisition of the Belami e-commerce platform, which contained over 60 websites for lighting and home decor. Cash, cash equivalents and restricted cash, amounted to $15.5M as of December 31 as compared to 13M as of September 30 . Cash used in operating activities for 2024 amounted to $18.3M as compared to $13M in 2023. Net loss per share decreased by $0.09 to $0.36 per share in 2024 when compared to 2023. Adjusted EBITDA loss per share, a non-GAAP measure, amounted to $(0.13) per share in 2024, as compared to $(0.17) per share, in 2023.