SKYX Platforms Corp. (NASDAQ: SKYX) has announced a record second-quarter revenue of $23.1 million for 2025, showcasing a significant increase from the $20.1 million recorded in the first quarter. This financial achievement is highlighted by a 23% sequential rise in gross profit to $7 million, with gross margins improving to 30.3%. The company also reported a 54% reduction in net cash used in operating activities, which decreased to $2 million, leaving SKYX with $15.7 million in cash and equivalents by the quarter's end.
Among the key developments, SKYX Platforms has entered into a collaboration with a $3 billion mixed-use smart city project in Miami's Little River District. This partnership involves the delivery of over 500,000 units of SKYX's smart plug & play products, demonstrating the company's expanding influence in the smart home sector. Additionally, SKYX is gearing up to launch its patented all-in-one smart turbo heater and ceiling fan, further enriching its product portfolio.
The company has also forged new sales and marketing agreements with global ceiling fan manufacturer Parrot Uncle and expanded its collaborations with major retailers and brands, including Home Depot, Wayfair, Kichler, EGLO, and Ruee. These partnerships are anticipated to bolster SKYX's market penetration and drive further growth of its innovative product offerings.
Looking forward, SKYX Platforms is set to undertake additional deployments with Cavco Homes, Forte Developments, Jeremiah Baron Companies, and JIT Electrical Supply. These initiatives are bolstered by a $15 million financing round led by The Shaner Group and key insiders, reflecting strong confidence in SKYX's business model and future growth potential. For more information on SKYX Platforms Corp. and its cutting-edge smart home solutions, visit https://skyplug.com.
