SKYX Platforms Corp. Announces Corporate Update Highlighting Russell 2000 Inclusion, Major Smart City Deployment, and Strategic Growth Initiatives
MIAMI, FL, June 26, 2025 (EZ Newswire) -- SKYX Platforms Corp., opens new tab (NASDAQ: SKYX) ('SKYX' or the 'Company'), a highly disruptive smart home platform technology company with more than 97 issued and pending patents globally, today provided a comprehensive corporate update ahead of several key milestones. The Company also operates a growing portfolio of over 60 lighting and home décor e-commerce sites, reinforcing its mission to make homes and buildings smart, safe, and advanced as the new standard.
SKYX announced that it will officially be added to the Russell 2000 Index following the market close on June 27, 2025. This inclusion represents a significant milestone and reinforces the Company's visibility among institutional investors and the broader financial community.
In parallel, SKYX revealed its central role in enabling a transformative $3 billion mixed-use Smart Urban City project in Miami's Little River District. As part of this initiative, SKYX will deploy over 500,000 units of its advanced plug & play smart home technologies, including its AI-powered smart ecosystem, across the entire 63-acre development. The project will include more than 5,700 condos and apartments, a significant allocation for workforce and affordable housing, over 350,000 square feet of retail space, 1.5 million square feet of green walkways, parks, bike paths, shuttle lanes, and a $35 million Tri-Rail station. World-renowned architectural firm Arquitectonica is leading the project's design, while development is spearheaded by SG Holdings—a joint venture between the Swerdlow Group, SJM Partners, and Alben Duffie, each with a legacy of major urban developments.
Financially, SKYX continues to gain strong backing from U.S. and international manufacturers in support of its large-scale product deployments. This support underscores investor confidence in the scalability and market demand for SKYX's smart home innovations. As of March 31, 2025, SKYX reported $35 million in cash, sufficient to execute its near-term strategic goals and achieve cash-flow positivity in 2025. In the first quarter of 2025, the Company generated record revenues of $20.1 million, up from $18.9 million in the same period the previous year, while also reducing general and administrative expenses by 17%, from $7.9 million to $6.6 million. SKYX also improved its gross margins and gross profit sequentially.
Anticipating strong seasonal demand, SKYX is preparing for a Q3 launch of its disruptive All-In-One Smart Turbo Heater & Ceiling Fan, with manufacturing already underway through long-term partners. The Company will launch two models of the patented product, targeting the multi-billion-dollar ceiling fan and space heater market. SKYX expects its products to be in 30,000 U.S. and Canadian homes by the end of the second quarter of 2025, with tens of thousands more to follow in the second half of the year.
To further support its growth, SKYX secured $15 million in preferred stock investments at $2 per share from strategic investors led by The Shaner Group, a major global Marriott Hotels chain owner. The round also saw significant participation from company insiders, including President Steve Schmidt and co-CEOs Lenny Sokolow and John Campi, signaling strong internal confidence in the Company's vision and trajectory.
In a major manufacturing development, SKYX announced a strategic U.S. partnership with Profab Electronics, a premier electronic contract manufacturer based in Pompano Beach, Florida. This collaboration complements the Company's manufacturing operations across Vietnam, Taiwan, China, and Cambodia, strengthening SKYX's commitment to building a resilient and efficient supply chain.
SKYX continues to pursue national safety standardization of its ceiling outlet and receptacle technology. Its Safety Code Standardization Team, led by Mark Earley (former head of the National Electrical Code) and Eric Jacobson (former president and CEO of the American Lighting Association), is now backed by a prominent new leader from a key government safety organization. SKYX has already secured ANSI/NEMA approval and has been voted into 10 segments of the NEC Code Book. The Company expects that its technology, once the full range of product variations is complete, will be recommended by insurance companies due to its potential to reduce fires, ladder falls, and electrocutions.
SKYX continues to build recurring revenue streams through a 'Razor & Blades' business model. The Company's ceiling electrical outlet (Razor) serves as the foundation for a range of plug & play smart products (Blades), including lighting, fans, recessed lights, emergency fixtures, chandeliers, and more. The Company's technology enables high-rise buildings and hotels to complete installations in days rather than months, providing an efficient and scalable solution for large-scale construction projects.
With an addressable market of approximately $500 billion in the U.S. and over 4.2 billion ceiling applications, SKYX is expanding both in the retail and professional segments. The Company generates revenue through product sales, licensing, royalties, subscriptions, monitoring, and global country rights. In addition to leveraging its 60+ e-commerce platforms, SKYX collaborates with major retailers including Home Depot and Wayfair to distribute its full suite of advanced and smart plug & play products.
Strategic partnerships also continue to accelerate SKYX's market reach. These include collaborations with leading lighting manufacturers such as Kichler, Quoizel, EGLO, and Ruee, as well as integration into premium homes built by Cavco Homes, a top U.S. prefabricated home builder. SKYX's technology will be installed across three luxury Forte Developments in Florida, totaling over 12,000 products across more than 400 units. Additionally, a 1,000-unit mixed-use project by Jeremiah Baron Companies will incorporate SKYX's technologies, with initial deliveries to 140 units and more throughout the construction cycle.
To support distribution, SKYX has entered a strategic agreement with JIT Electrical Supply, a leading builder supplier that has served over 100,000 U.S. homes. JIT will distribute SKYX's lighting and smart products beginning in early 2025.
In a key leadership move, SKYX welcomed Huey Long, former Amazon e-commerce director and executive at Walmart and Ashley Furniture, as the new head of its e-commerce division. Long will work closely with SKYX's existing team to expand market penetration across its digital platforms and leading North American e-commerce channels.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at www.skyplug.com, opens new tab or follow us on LinkedIn, opens new tab.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as 'aim,' 'anticipate,' 'believe,' 'can,' 'could,' 'continue,' 'estimate,' 'expect,' 'evaluate,' 'forecast,' 'guidance,' 'intend,' 'likely,' 'may,' 'might,' 'objective,' 'ongoing,' 'outlook,' 'plan,' 'potential,' 'predict,' 'probable,' 'project,' 'seek,' 'should,' 'target' 'view,' 'will,' or 'would,' or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company's reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company's ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company's efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company's ability to capture market share; the Company's estimates of its potential addressable market and demand for its products and technologies; the Company's ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company's ability to continue as a going concern; the Company's ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company's products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company's current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company's ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company's actual operating results; the potential impact of unstable market and economic conditions on the Company's business, financial condition, and stock price; and other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters.
Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Media Contact
Jeff Ramsonjramson@pcgadvisory.com
###
SOURCE: SKYX Platforms Corp.
Copyright 2025 EZ Newswire
See release on EZ Newswire
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
21 minutes ago
- The Guardian
Eric Adams, mayor of New York City, launches re-election campaign
Eric Adams, the New York mayor, launched his reelection campaign on Thursday, days after socialist Zohran Mamdani sent political shockwaves through the New York and national Democratic party by winning its mayoral nomination for November's election. Adams, who did not mount a campaign for the Democratic nomination as his popular support cratered due to a corruption scandal, will now run as an independent candidate. Mamdani's decisive win against the former governor Andrew Cuomo, could see Adams get wider appeal in his, though much will depend if Cuomo also runs in the November race. 'I will fight for everyday New Yorkers who just want their city to darn work for them,' Adams said at a press conference on the steps of City Hall, contrasting himself with Mamdani who he attacked as a 'silver spoon' socialist. 'It's a choice between a candidate with a blue collar and one with a silver spoon,' he said. 'I'm not interested in slogans, I'm not interested in solutions. I don't work with special interests, I work for the people.' Adams said his record as mayor stands above the noise of politics, and his record surpasses his critics. 'There are some critics who spend more time attacking than achieving. They have a record of tweets, I have a record on the streets, a record of results.' Adams' formal entry into the race comes as the city's business community has reacted harshly to Mamdani's nomination and policy proposals that include a freeze on rents, free bus services, city-run groceries and higher taxes on the wealthy. They may now shift their support from Cuomo to Adams. The business community is 'struggling to understand the implications of Mamdani's victory', Kathy Wylde, CEO of Partnership for New York City, said in an interview with Semafor. Wylde acknowledged that Mamdani's focus on affordability tapped into 'the financial insecurity young people feel and their anger that the established political class has done nothing to fix it. It's not an endorsement of socialism but rather a rejection of the status quo, which threatens to bring on the kind of political instability that business hates.' But Adams' reputation took a beating when he was indicted on federal corruption charges – charges that were later dropped in an apparent deal with the incoming Trump administration. Since Trump returned to the White House Adams has developed an ever closer political relationship with the US president – dismaying many Democrats. In any second term, Adams promised to continue to bring down crime, launch a citywide mental health initiative, advance vocational training and expand affordable housing. He promised that the campaign 'is going to be the most interesting political campaign in the history of the city'.
The Independent
27 minutes ago
- The Independent
North Carolina legislature leaves after passing Helene aid package, but still no budget
The North Carolina legislature wrapped up the chief portion of its annual session Thursday, passing another Hurricane Helene aid package this week after Republican majorities pushed through divisive bills to eliminate diversity, equity and inclusion programs and target transgender rights. Lawmakers in the ninth-largest state also fell short on completing their primary responsibility — enacting a two-year budget by July 1. There's no risk of a government shutdown, and House and Senate negotiators will keep meeting to reach budget agreements. Other legislation can be voted on when lawmakers return occasionally, possibly starting next month. More vetoes from Democratic Gov. Josh Stein likely will be waiting. Chambers remain far apart on 2-year budget House and Senate Republicans are split on competing budget bills they approved in the spring. Teacher and state employee pay, the scope of tax cuts and vacant government position eliminations are among the disagreements. Each package would spend $32.6 billion in the upcoming fiscal year and $33.3 billion in the next. 'The massive details behind each of our budgets doesn't allow us quick and urgent resolution,' GOP Rep. Donny Lambeth, a chief budget writer, told colleagues Wednesday. The inability of budget writers to work out a stopgap spending measure that usually contains noncontroversial or critical spending provisions gave fodder to Democrats. 'The people of North Carolina should expect better of us,' Rep. Deb Butler said. 'We have one job and that's to pass a budget, and we haven't done that.' Any final budget goes to Stein, whose own budget proposal spent more and froze planned income tax cuts. With the GOP one House seat shy of a veto-proof majority, Republicans will seek a final budget that enough Democrats support to override. Next Helene spending installment finalized Before adjourning, House and Senate Republicans hammered out another tranche of state funds to assist with Helene recovery in the mountains. Not including federal aid, the General Assembly already has appropriated or allocated more than $1.6 billion in recovery funds since last September's historic storm. This latest allotment — approved unanimously and now heading to Stein — moves $700 million to the state's Helene relief fund and appropriates $500 million of that. There's also nearly $1 billion more allocated in federal water and sewer grants and state transportation money with a focus on Helene repairs. Stein had urged lawmakers this week to set aside their differences 'and get this relief out the door.' GOP focused on eliminating DEI programs Cutting diversity, equity and inclusion initiatives were a major priority for GOP lawmakers. State agencies, local governments, public K-12 schools and higher education institutions would be impacted if the bills become law. Training, staff positions and hiring decisions that incorporate DEI are banned in state agencies under one bill. The legislation also would outlaw those agencies or local governments from using state funds for DEI programs. Two other bills would bar 'divisive concepts' and 'discriminatory practices' across public education in the state. Republicans have repeatedly said DEI programs have strayed too far from their original goal and create unfair treatment. 'When it's done right, it opens a door for more students to compete fairly,' Sen. Michael Lee, the bill's sponsor, said in committee Tuesday. 'When it's done wrong, it prioritizes identity over ability.' But Democrats said the legislation will 'chill' state employees' speech and may reverse progress for students of color who weren't historically afforded certain opportunities. 'A multiethnic, diverse society has to learn how to grapple with things that can make you feel uncomfortable,' Rep. Brandon Lofton said on Wednesday. 'This bill puts an end to that.' Shrimp ban proposal gets loud It was shrimp that elicited a giant response from the public this week. A bill pushed by the state Senate would ban shrimp trawling — which uses a cone-shaped net to scoop up the crustaceans — inshore and within a half-mile (.8 kilometers) of coastal North Carolina shorelines. Proponents say shrimp trawling has negative environmental impacts, such as killing juvenile fish populations and disrupting ecosystems. But several coastal Republican legislators were outraged, saying the bill would completely devastate North Carolina's shrimping industry. About 75% of North Carolina shrimp are caught inshore, according to the North Carolina Local Food Council. Hundreds of shrimp industry members and their allies on Tuesday crowded inside and outside the Legislative Building to oppose the bill. A dozen semitrailers — draped with banners like 'NC Seafood for All. No Trawl Ban' — circled the building and blasted their horns for hours. Bill opponents cheered Wednesday outside a House Republican caucus meeting where members said they decided not to act on the bill. Many bills get over the finish line, head to the governor Legislators gave final approval this week to a host of bipartisan bills, such as a measure sought by the governor to require public school districts to pass policies barring students from having cellphones turned on during instructional time. There would be exceptions. Others were divisive, like a bill prohibiting state funds for gender-affirming care for prisoners and stating there are only two sexes. Another measure would allow private school boards to authorize a trained, permitted adult to carry a handgun on a school's campus for security. These measures now head to Stein's desk. The governor vetoed three GOP measures last week. No override attempts have yet occurred.
Reuters
31 minutes ago
- Reuters
FCC chief had no discussions with White House on Trump Mobile phone
WASHINGTON, June 26 (Reuters) - The head of the U.S. Federal Communications Commission said on Thursday he had no discussions with the White House about the Trump Organization's self-branded mobile service and a $499 smartphone dubbed Trump Mobile. FCC Chair Brendan Carr, who was designated chair by President Donald Trump in January, told reporters he had learned about the project through a public press release and had no conversations with anyone outside the agency about it. "We're going to run our normal process if there's anything that needs to be done by the FCC on that," Carr said. "I think competition is a good thing - so think it's great we get more sort of entry, more competition." Trump Mobile is powered by Liberty Mobile Wireless, a Florida-based company founded in 2018 by entrepreneur Matthew Lopatin. The company operates as a mobile virtual network operator, renting bandwidth from major carriers such as T-Mobile (TMUS.O), opens new tab to offer its own service under a different name. Separately, Carr said the commission is continuing to review CBS-parent Paramount Global's (PARA.O), opens new tab proposed $8.4 billion merger with Skydance Media. The FCC did not make a decision by the 180-day informal deadline in mid-May. "We continue to run our normal course review on that one," Carr said. Trump has sued CBS, alleging the network deceptively edited a "60 Minutes" interview with 2024 presidential candidate Kamala Harris to "tip the scales in favor of the Democratic Party" and the former vice president in the election. Trump's suit is seeking $20 billion. In January, Carr reinstated complaints about the "60 Minutes" Harris interview, as well as complaints about how Walt Disney's (DIS.N), opens new tab ABC News moderated the pre-election televised debate between then-President Joe Biden and Trump and Comcast's (CMCSA.O), opens new tab NBC for allowing Harris to appear on "Saturday Night Live" shortly before the election. CBS has urged Carr to dismiss the complaint, saying it did nothing wrong and that the complaint aims to turn "the FCC into a full-time censor of content."
