| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 25.27 | 14.4% | 9.6% |
| Total Income | 25.27 | 14.4% | 9.6% |
| Expenditure | 32.34 | 6.9% | 5.8% |
| PBT | — | ||
| Net Profit | -8.22 | 11.4% | 6.9% |
| OPM | -27.98% | 8.96pp | 4.63pp |
| NPM | -32.54% | 9.44pp | 5.73pp |
| EPS | -0.06 | 14.3% | 25.0% |
SKYX Platforms Corp. Reports Q2 2026 Record Sales of $25.3 Million with 14% Growth
13 Aug 2026 · 13 Aug, 1:46 am
Summary
SKYX Platforms Corp. announced its financial and operational results for the second quarter ended June 30, 2026, reporting record revenues of $25.3 million, a 14% increase sequentially and a 10% increase year-over-year. The company highlighted 10 consecutive quarters of year-over-year growth and a 4% increase in gross profit to $7.3 million compared to the prior year's second quarter. Management expressed confidence in achieving cash flow positivity by year-end, supported by a strengthened cash position of $27.7 million and strategic business developments including expansion into European hotel markets.
Key Highlights
- 1
SKYX Platforms Corp. reported record revenues of $25.3 million for the second quarter of 2026, a 14% increase compared to $22.1 million in the first quarter of 2026.
- 2
The company achieved 10 consecutive year-over-year quarters of revenue growth.
- 3
Gross profit for the second quarter of 2026 increased by 4% to $7.3 million compared to the second quarter of 2025.
- 4
Net loss for the second quarter of 2026 decreased to $8.2 million from $8.8 million in the second quarter of 2025.
- 5
Cash, cash equivalents, and restricted cash increased to $27.7 million as of June 30, 2026, up from $10.1 million as of December 31, 2025.
- 6
Management believes the company has sufficient cash to achieve its goals, including becoming cash flow positive by the end of 2026.
- 7
SKYX announced significant business updates including supplying technologies for a Marriott City Center Hotel renovation and becoming a brand standard for European hotel developers.
Management Comments
Lenny Sokolow
The Company is trending positively, generating record second quarter 2026 revenues of $25.3 million representing a 14% increase compared to $22.1 million and a 10% increase as compared to $23.1 million for the second quarter of 2025, and record first half 2026 revenues of $47.4 million as compared to $43.2 million for the first half of 2025. The Company generated a gross profit for the second quarter ending June 30, 2026, increasing by 4% to $7.3 million, compared to the second quarter ending June 30, 2025, and a 9% increase to $13.9 million for the first half of 2026 compared to $12.7 million for the first half of 2025. We believe our positive trends will continue to accelerate through the balance of 2026 as we build out and execute on our channel strategy. We are encouraged by the recently announced initiatives where we could supply hundreds of thousands of units in Europe, the Middle East including Saudi Arabia and Egypt, the $4 billion mixed-use smart city development in the Little River District in the heart of Miami, and projects in Pittsford, New York; North Carolina; Austin, Texas; and San Antonio, Texas. We continue to address the builder/commercial segments, large online and brick-and-mortar retail partners as well as our future potential to realize incremental licensing, subscription, and AI/data aggregation revenues. Furthermore, our e-commerce website platform with 60 websites enhances the acceleration of marketing and distribution channels, collaborations, licensing, and sales to both professional and retail segments. Our websites include banners, videos, and educational materials regarding the simplicity, cost savings, time-saving, and life-saving aspects of the Company’s patented technologies. We have accelerated our pace of sales and strategic initiatives with a robust gross margin profile, notably reducing the net loss, the adjusted EBITDA loss, and the net cash used in operating activities of SKYX on a sequential quarterly basis. Our e-commerce platform with 60 websites is expected to continue to provide additional cash flow to the Company.
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