SKYX Continues Flying High Posting Record Sales for Q4 and 2023 in Recent Financial Release

Yesterday the PRISM Consumer Products Index and transformative technology platform company, SKYX Platforms Corp. (SKYX) reported its Q4 and FY 2023 financials which posted record sales for the quarter and annually that amounted to $22.2M and $58.5M, respectively. In addition to its record revenues, its cash position for the year increased from the previous year, by $5.6M and now sits at $22.4M. Moving forward, the company maintains a positive outlook and projects it will be cash flow positive by 2025.

In addition to the financial report, its market penetration has improved as they have begun selling to the Canadian market, have initiated sales to builder and pro-segments with over 100 new accounts added during the Las Vegas International Builders’ Show and will be supplying ~1,000 homes with its advanced technology smart home platform that’s expected to deliver ~30k units, a part of a recently inked agreement.

Industry veterans and SKYX executives Mark Earley, former head of the National Electric Code (NEC) and Eric Jacobson, former President and CEO of the American Lighting Association, continue their efforts in tandem with the SKYX code team to spearhead the efforts related to their filing for mandatory safety standardization with the NEC.

In its release, SKYX management stated, “We are encouraged with our path to the builder/commercial segments, large online and brick-and-mortar retail partners, as well as to realizing incremental licensing, subscription, and data aggregation revenue that we believe will assist in paving the way for our standardization efforts.”

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 platform technologies, with over 77 U.S. and global patents and patent pending applications. Additionally, the Company owns over 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. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Disclaimer

This communication was produced by Prism MarketView, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is an integrated investor relations, communications and strategic advisory firm. The information contained on this is ‘Paid Advertising’ for purposes of Section 17(b) of the Securities Act of 1933, as amended (together with the rules and regulations there under, the “Securities Act”). “PCG” and its affiliates are compensated by respective clients for publicizing information relating to its client’s securities. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy…

Read Full Disclaimer

Share This Article

 

About the Author

SKYX Continues Flying High Posting Record Sales for Q4 and 2023 in Recent Financial Release

Ashlee Vogenthaler

Markets Editor