Quarterly ResultAug 12, 2026, 04:16 PM
SKYX Q2 2026 Sales $25.3M, Up 14%; Cash $27.7M
AI Summary
SKYX Platforms Corp. reported record sales of $25.3 million for Q2 2026, marking a 14% increase quarter-over-quarter and 10 consecutive quarters of year-over-year growth. The company ended the quarter with $27.7 million in cash and cash equivalents, believing it has sufficient funds to become cash flow positive by the end of 2026. Net cash used in operating activities decreased by 39% to $3.7 million, and gross profit increased by 4% year-over-year to $7.3 million. The company also highlighted significant project deployments and strategic partnerships.
Key Highlights
- Q2 2026 sales reached a record $25.3 million, up 14% from Q1 2026 and 10% from Q2 2025.
- Reported $27.7 million in cash and cash equivalents as of June 30, 2026, up from $10.1 million in Dec 2025.
- Net cash used in operating activities reduced by 39% to $3.7 million in Q2 2026 from $6.0 million in Q1 2026.
- Gross profit for Q2 2026 increased 4% year-over-year to $7.3 million.
- Net loss decreased to $8.2 million in Q2 2026 from $8.8 million in Q2 2025.
- Adjusted EBITDA loss improved sequentially to $3.5 million in Q2 2026 from $3.9 million in Q1 2026.
- Company expects to deploy over 1 million units of its products, including 100,000 units/homes by end of 2026.
- Secured new projects and partnerships, including Marriott, European hotel group OTT, and Eurofase.
Price Impact
More from SKYX