SKYX Platforms Posts Record $92M Revenue in 2025 and Cuts Cash Burn by 27%

From $18M in 2024 to $13M in 2025, Marking its Eight Consecutive Quarters of Year-Over-Year Growth

Raises $29M from Institutional Investors at $2.50 Per Share in Q1 2026

SKYX Platforms Corp. (NASDAQ: SKYX), an advanced and smart home platform technology company with over 100 U.S. and global patents, delivered record annual revenue of $92 million for fiscal year 2025, while reducing cash used in operations by 27% and strengthening its balance sheet with a $29 million equity raise from a fundamental institutional investor. The results, anchored by a record Q4 2025 revenue of $25 million, reflect accelerating commercial momentum across retail, e-commerce, and emerging smart home project pipelines both domestically and internationally.

Record Revenue and Improving Unit Economics

SKYX closed 2025 with its strongest financial performance to date, generating $92 million in annual revenue versus $86 million in 2024 —   driven by expanding its pro and retail partnerships while scaling its e-commerce sales. The fourth quarter alone produced $25 million in revenue, up from $24 million in Q4 2024. Furthermore, gross profit rose to $28 million, or 30% of revenue, compared to $25 million and 29% of revenue the prior year, demonstrating incremental margin improvement as the company scales its higher-value smart home products. Net loss per share narrowed to $0.32 in 2025 from $0.36 in 2024, while adjusted EBITDA loss per share improved to $0.10 from $0.13 — both pointing toward a tightening cash burn trajectory heading into 2026.

Retail Expansion and Product Launches Fuel Commercial Momentum

A key driver of SKYX’s growth has been its aggressive retail distribution push. The company successfully launched its patented SKYFAN and Turbo Heater fan products at Home Depot — including a dedicated SkyPlug branding page on HomeDepot.com — as well as at Target, Walmart, and Lowe’s. Specifically, management highlighted the Turbo Heater Fan as a meaningful contributor to gross margin improvement. Based on its growing sales traction, SKYX is expanding its “All-Season Ceiling Fan” category — products that heat in winter and cool in summer — into new designs and larger sizes. Consequently, the company anticipates deploying over 100,000 units through retail and professional channels by year-end 2026. Complementing this, SKYX’s e-commerce platform of 60 lighting and home décor websites continues to convert sales into cash rapidly via what management describes as the “Dell Working Capital Model,” reducing its cost of capital.

AI Integration and Technology Roadmap

SKYX is making deliberate moves to layer artificial intelligence into its platform, with implications for both its consumer-facing and enterprise businesses. The company announced a collaboration with the NVIDIA AI Ecosystem Connect Program, with expectations to deepen that relationship across existing and future smart home projects. In addition, SKYX plans to launch a new AI-driven software solution for its 60-website e-commerce platform in 2026, targeting up to a 30% increase in conversion rates and sales. Given these points, SKYX’s technology roadmap is increasingly positioned around recurring revenue streams — spanning interchangeability, product upgrades, AI services, real-time monitoring, and subscription models — creating a compelling long-term monetization layer on top of its hardware installation base.

Project Pipeline and Balance Sheet Strength

Beyond retail, SKYX is building a substantial pipeline of large-scale smart home and building projects. The company expects to supply its advanced plug-and-play technologies to projects across New York, North Carolina, Austin, San Antonio, and South Florida — including Miami’s new $4 billion smart city — as well as internationally in Saudi Arabia and Egypt. Over 1 million units are anticipated to be deployed across these projects. Under these circumstances, the balance sheet has been materially strengthened: SKYX raised $29 million in straight equity with no warrants in January 2026 from a fundamental institutional investor and extended $13.5 million in notes out to 2030. Combined with $10 million in cash as of December 31, 2025, management believes the company is well-capitalized to execute its 2026 growth strategy while progressing toward cash-flow positivity. Notably, hotel segment activity is also gaining traction, with a successful Marriott renovation demonstration completed and the Shaner Group — an owner of 70-plus hotels — having led a prior $16.5 million investment round.

Earnings Highlights Summary

• SKYX posted record annual revenue of $92 million in 2025, up from $86 million in 2024, with Q4 2025 marking a record $25 million quarter — the company’s eighth consecutive quarter of year-over-year growth.
• Gross profit improved to $28 million in 2025 from $25 million in 2024, driven in part by the margin-accretive Turbo Heater Fan.
• Cash used in operating activities fell to $13 million in 2025 from $18 million in 2024, a 27% improvement, reflecting disciplined cash management heading into 2026.
• SKYX raised $29 million in equity in January 2026 (no warrants) and extended $13.5 million in debt to 2030, significantly strengthening its balance sheet and runway.
• The company launched its SKYFAN and Turbo Heater at Home Depot, Target, Walmart, and Lowe’s, and is expanding the All-Season Ceiling Fan category; it expects to deploy over 100,000 units through retail and pro channels in 2026.
• SKYX announced a collaboration with NVIDIA’s AI Ecosystem Connect Program and plans to launch AI-driven e-commerce software in 2026 targeting up to a 30% uplift in conversion rates.
• The company’s large-scale project pipeline spans over 1 million units across U.S. and international developments, including Miami’s $4 billion smart city, Saudi Arabia, and Egypt — with hotel and builder segment wins anticipated in H1 2026.

For more information, visit SKYX’s Investor Relations portal at ir.skyplug.com.