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SQL Technologies (SKYX)
NASDAQ:SKYX
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.13Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 09, 2022
|% Change Since: 7.14%
|Next Earnings Date:Mar 08, 2022
Earnings Call Sentiment|Positive
The earnings call presents a generally positive outlook with record revenues, a successful equity raise, and strategic collaborations. However, there are concerns about the declining cash position and potential impacts of new import tariffs.Company Guidance
During the third quarter of 2024, SKYX Platforms Corp. reported record revenues of $22.2 million, up from $21.6 million in the same quarter of 2023. The company also secured an $11 million equity preferred stock investment, with significant insider investments from executives. As of September 30, 2024, SKYX had over $13 million in cash, cash equivalents, and restricted cash, a decrease from $15.6 million at the end of June 2024. Net cash used in operating activities decreased by 39% to $2.6 million, while gross profit rose by 4% to $6.8 million, improving the gross margin to 30.9%. The company aims to become cash flow positive in 2025, with plans to expand its product reach into 15,000 U.S. and Canadian homes by the end of 2024. Additionally, SKYX has formed key collaborations with companies like Home Depot, GE, and Wayfair, and is focusing on increasing its market penetration through its e-commerce platform and retail partnerships. The total addressable market in the U.S. alone is projected at $500 billion, with ongoing efforts to secure recommendations from insurance companies based on the safety features of their products.Record-Breaking Revenue for Q3 2024
The company generated record third quarter revenues of $22.2 million compared to $21.6 million for the third quarter of 2023, marking a 3% increase.
Successful Equity Raise
In October 2024, SKYX secured an $11 million equity preferred stock investment at $2 per share of common stock, led by a Global Marriott hotel chain developer.
Decrease in Operating Cash Usage
Net cash used in operating activities for Q3 2024 decreased by 39% to $2.6 million from $4.2 million in Q2 2024.
Gross Profit Increase
Gross profit for Q3 2024 increased by 4% to $6.8 million compared to the quarter ending June 30, 2024.
Strategic Collaborations
Collaborations with Home Depot, GE, Wayfair, and other major industry players have been established to expand market presence.
Expansion of Product Lines
SKYX is expanding its product lines with advanced and smart plug-and-play lighting, and anticipates significant insurance savings due to safety features.
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SKYX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SKYX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $1.26 | $1.21 | -3.97% |
| Aug 12, 2024 | $1.00 | $1.02 | +2.00% |
| May 14, 2024 | $1.12 | $1.08 | -3.57% |
| Apr 01, 2024 | $1.26 | $1.18 | -6.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SQL Technologies (SKYX) report earnings?
SQL Technologies (SKYX) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is SQL Technologies (SKYX) earnings time?
SQL Technologies (SKYX) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SKYX EPS forecast?
SKYX EPS forecast for the fiscal quarter 2024 (Q4) is -0.07.
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