SKYX Platforms Corp. (NASDAQ: SKYX) has announced record second-quarter 2026 revenue of $25.3 million, a 14% increase from the first quarter's $22.1 million and a 10% rise from $23.1 million in the same period last year. This marks the company's 10th consecutive quarter of year-over-year growth, underscoring a sustained upward trajectory in its financial performance.
The company's gross profit for the quarter increased 4% year over year to $7.3 million, while its net loss narrowed to $8.2 million, or $0.06 per share, compared to a net loss of $8.8 million, or $0.08 per share, in the prior year. Operating cash flow also improved significantly, with net cash used in operating activities declining 39% sequentially to $3.7 million from $6 million. As of June 30, SKYX held $27.7 million in cash, cash equivalents, and restricted cash, and management believes this is sufficient to achieve its goals, including reaching cash flow positivity as it exits 2026.
Looking ahead, SKYX expects to deploy more than 1 million units through its projects and more than 100,000 units and homes through its pro and retail segments by year-end 2026. The company highlighted planned and ongoing projects in the U.S., Europe, Saudi Arabia, and Egypt, along with expanded retail distribution of its patented SKYFAN and Turbo Heater products. Additionally, SKYX is developing an AI-driven system for its 60-site e-commerce platform and continues its work toward safety-mandated standardization of its ceiling outlet and receptacle technology.
The announcement is significant for the industry as SKYX continues to push forward with its mission to make homes and buildings safe, advanced, and smart as the new standard. With over 100 U.S. and global patents and patent pending applications, the company is at the forefront of integrating safety and smart technology into everyday living spaces. Its AI-driven e-commerce platform and global expansion efforts highlight the growing demand for innovative home solutions.
For investors and industry observers, SKYX's consistent revenue growth and improved cash flow indicate a positive trend in the smart technology sector. The company's focus on safety-mandated standardization could influence future building codes and consumer expectations, potentially reshaping how electricity and smart features are integrated in residential and commercial properties.
The full press release can be viewed at https://ibn.fm/WjxWu. For the latest news and updates on SKYX, visit the company's newsroom at https://ibm.fm/SKYX.
