Quarterly ResultMay 11, 2026, 04:18 PM
SKYX Q1 2026 Revenue Up 10% to $22M; Gross Profit +16%
AI Summary
SKYX Platforms Corp. reported record Q1 2026 revenues of $22 million, a 10% increase year-over-year, marking its ninth consecutive quarter of growth. Gross profit rose 16% to $7 million, with gross margin improving to 30%. The company also announced a strategic partnership with European developer Group OTT for smart technology deployment in hotels and buildings, and expects to deploy over 1 million units globally in upcoming projects. SKYX reported over $32 million in cash and aims to be cash flow positive by year-end 2026.
Key Highlights
- Q1 2026 revenue increased 10% YoY to a record $22 million.
- Gross profit rose 16% to $7.0 million; gross margin improved to 30%.
- Reported over $32 million in cash and equivalents as of March 31, 2026.
- Net loss per share decreased to $0.07 from $0.09 YoY.
- Partnered with Group OTT to deploy smart technologies in European hotels.
- Expects to deploy over 1 million units in global projects.
- Began collaboration with NVIDIA AI Ecosystem Connect Program.
- Raised $29 million in straight equity in January 2026.