Quarterly ResultMay 11, 2026, 04:22 PM

SKYX Platforms Q1 Revenue $22.09M; Cash $30.26M; Equity Turns Positive

AI Summary

SKYX Platforms Corp. reported a 9.85% increase in Q1 2026 revenue to $22.09 million, though net loss widened slightly to $9.28 million. Despite the loss, the company significantly boosted its cash and cash equivalents to $30.26 million and shifted its total stockholders' equity from a deficit to a positive $18.82 million, primarily driven by $27.39 million in common stock offerings.

Key Highlights

Q1 2026 revenue increased 9.85% to $22.09 million from $20.11 million in Q1 2025.
Net loss for Q1 2026 widened to $9.28 million, up from $9.05 million in Q1 2025.
Net loss per share improved to $(0.07) in Q1 2026 from $(0.09) in Q1 2025.
Cash and cash equivalents surged 275.8% to $30.26 million as of March 31, 2026.
Total stockholders' equity turned positive to $18.82 million from a $4.59 million deficit.
Net cash provided by financing activities was $28.32 million in Q1 2026.
Common stock issued from offerings generated $27.39 million in Q1 2026.
Total assets increased 35% to $77.95 million as of March 31, 2026.

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