SKYX Platforms Corp.

SKYX Platforms Corp. announced the completion of its merger with Deako, Inc. on October 13, 2026, with Deako becoming a wholly-owned subsidiary. The transaction involved the issuance of 25,000,000 shares of SKYX common stock, subject to a 12-month lock-up, and a cash payment of $4,000,000 to Deako's Senior Lenders. Additionally, SKYX issued an $8,500,000 senior secured promissory note to the Senior Lenders, with staggered maturity dates and a 12.0% annual interest rate. Post-merger, SKYX shareholders will hold approximately 84.4% of the combined entity, while former Deako shareholders will hold approximately 15.6%.

SKYX Platforms Corp. reported increased revenue and a reduced net loss for the second quarter and first half of 2026. Quarterly revenue rose to $25.27 million, while the net loss decreased to $8.22 million. Significantly, the company's total stockholders' equity improved from a deficit of $4.59 million at year-end 2025 to a positive $13.66 million as of June 30, 2026, largely due to $27.39 million in proceeds from common stock offerings.

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.

SKYX Platforms Corp. announced it will host its second quarter 2026 earnings conference call on Wednesday, August 12, 2026, at 4:30 p.m. Eastern Time. During the call, management will provide a corporate update and discuss the company's financial results for the second quarter of 2026. Key participants will include Rani Kohen, Founder and Executive Chairman, and Lenny Sokolow, CEO.

SKYX Platforms Corp. announced a partnership to deploy its advanced lighting and smart technologies during a renovation of a Marriott city center hotel in downtown Durham, North Carolina. The hotel is part of the Shaner Hotel Group, a prominent hotel developer with over 80 hotels. This deployment involves supplying thousands of units of SKYX's smart plug & play technologies and is expected to lead to future recurring revenues and potential expansion into additional Shaner Hotel Group properties.

SKYX Platforms Corp. announced it will deploy its advanced smart technologies as part of the comprehensive renovation of The Mozart Prague, an iconic 5-star hotel in Prague, Czech Republic. The hotel, owned by Group OTT and managed by Accor, will integrate SKYX's smart plug & play products, including various lighting solutions. This deployment is expected to significantly reduce renovation time and cost by up to 90% and offers future recurring revenue opportunities for SKYX. Group OTT plans to continue deploying SKYX's technologies in additional European projects.

SKYX Platforms Corp. announced a new licensing agreement with Eurofase, a leading global lighting company. This partnership significantly expands SKYX's go-to-market channels within the U.S. and globally, targeting builder, hotel, residential, and commercial segments. SKYX's advanced smart home technologies are expected to reduce installation time and cost by up to 90%, and the agreement also opens opportunities for future recurring revenues through various services.

SKYX Platforms Corp. will hold its Annual Meeting of Stockholders on July 8, 2026, at 11:00 a.m. Eastern Time in Pompano Beach, Florida. Stockholders will vote on the election of seven directors, the ratification of M&K CPAS, PLLC as the independent registered public accounting firm for 2026, and an advisory vote on named executive officer compensation. The record date for voting is May 12, 2026, with proxy materials available online.

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.

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.