SKYX Platforms (NASDAQ: SKYX), a developer of advanced smart home and artificial intelligence (“AI”) platform technologies, reported financial and operating results for the third quarter ended Sept. 30, 2026, with revenue increasing 7.4% year over year to $25.7 million from $23.9 million. Gross profit rose 11% sequentially to $8.1 million, while gross margin improved to 31.4% from 28.9% in the second quarter. The company reported $21 million in cash, cash equivalents and restricted cash, compared with $10 million at year-end 2025. Net cash used in operating activities declined 15.5% year over year to $4.2 million, while adjusted EBITDA loss narrowed 18.7% sequentially to $2.9 million.
Following quarter-end, SKYX completed its merger with Deako on Oct. 13, 2026, combining ceiling-based and wall-based plug-and-play smart home technologies. The company subsequently announced three builder programs with Maronda Homes, Home Creations and Stone Martin, representing more than 210,000 expected product units across more than 2,500 homes, with deliveries anticipated through 2027. The combined SKYX and Deako pipeline is estimated at approximately 4 million units, while the merger is expected to reduce annual cash expenses by more than $6 million. SKYX also highlighted expansion opportunities in hospitality projects in India, the United States and Europe, along with plans to introduce additional models of its Turbo Heater Ceiling Fan through national retail and e-commerce channels.
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About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally.
NOTE TO INVESTORS: The latest news and updates relating to SKYX are available in the company’s newsroom at https://ibn.fm/SKYX
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