SKYX

This article first appeared on GuruFocus. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record Q2 2026 revenue of $25.3 million, up 14% sequentially and 10% year-over-year, marking 10 consecutive quarters of growth. Strong cash position of $27.7 million as of June 30, 2026, up from $10.1 million at year-end 2025, with expectations to become cash flow positive by end of 2026. Expansion into European hotel market with agreements for OTT (250+ hotels) and Accor's five-star hotel in Prague, plus a licensing deal with global lighting company Euroface. Pipeline of over 1 million units for Pro and Retail segments, with plans to deliver over 100,000 units by end of 2026. Progress on safety code standardization for ceiling outlets, with a generic name (WSCR) in code books and ongoing discussions with insurance companies. Reduced net cash used in operating activities by 39% sequentially to $3.7 million in Q2 2026, and reduced interest-bearing debt by $2 million. Growing demand for turbo heater fan, with plans to launch new sizes (smaller and larger versions) in Q4 2026, despite summer season. Gross profit increased 4% year-over-year to $7.3 million in Q2, and 10% to $13.9 million for the first half of 2026. AI-driven software launch on e-commerce platform in final stages, with plans to enhance platform for builder and hotel segments. Multiple new projects announced in U.S. and globally, including Miami's $4 billion smart city, Saudi Arabia, and Egypt. Gross margin declined to 29% in Q2 from 30% in Q1, due to product mix, with expectations for improvement only as higher-margin products grow. Real estate and home decor markets continue to decline, which could pressure future sales growth. Gen. 3 turbo heater fan launch delayed pending regulatory approvals (FCC and other codes), with no clear timeline for mass production. Standardization process for mandatory ceiling outlets is slow, with no material updates and uncertain timeline despite 14 years of effort. Cash flow positive goal by end of 2026 is a target, but not yet achieved, and operating cash flow remains negative at $3.7 million in Q2. Dependence on regulatory approvals and code standardization for long-term growth, which are outside company control. B2B project shipments are only starting in Q3 and Q4, with limited visibility on timing and execution of the 1 million unit pipeline. No specific guidance provided on future revenue or margin trends, leaving uncertainty for investors. Licensing agreements, like with Euroface, are still in early stages and may not generate significant revenue in the near term. Competition and market adoption risks remain, as the company relies on new technology adoption in traditional industries. Warning! GuruFocus has detected 4 Warning Signs with SKYX. Is SKYX fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide any detail on what has shipped in the first half and what you are expecting in the back half of the year regarding the 1 million units reserved for B2B projects?A: Ronnie Cohen, Founder and Executive Chairman, stated that the company is starting to supply some projects this quarter and continuing in Q4, with further deliveries expected in Q1 and throughout 2027. The pipeline is active, and they have begun supplying some of the announced buildings and hotels. Q: How confident are you that you will hit or exceed the goal of deploying more than 100,000 units during 2026?A: Ronnie Cohen expressed strong confidence in meeting the goal of having 100,000 units in the market by the end of 2026. He noted that progress is according to plan as the company continues to grow its market penetration. Q: On the gross margin front, Q2 at 29% was down from 30% in Q1. What are you factoring into the gross margin front for the back half of the year?A: Ronnie Cohen explained that the gross margin is a result of the product mix. As growth continues with the turbo heater fan and other products supplied to the builder and hotel segments, the blend of revenue will shift toward products with higher gross margins, which is expected to improve the overall margin in the coming quarters. Q: On the Gen. 3 turbo heater fan, where does the launch stand today?A: Ronnie Cohen reported that production samples are in hand and testing very well. The company is now waiting for code approvals (FCC and other regulatory bodies) before mass production can begin. The timetable is dependent on regulators, but they hope to start delivering the product in the next quarter, given the strong and growing demand. Q: How did sales go at Home Depot in Q1 and Q2, and how is it unfolding in newer launches at other retailers?A: Ronnie Cohen stated that despite the summer season being the worst for heater sales, the company is encouraged by the signals. They are enhancing the product variety with smaller and larger versions of the turbo heater fan to meet demand for different room sizes, with launches expected in Q3 and Q4. They look forward to the winter season and believe the product will drive growth and gross margins. Q: Can you provide more color on the Euroface licensing agreement? Is it a one-off, or will we see more licensing agreements modeled on it?A: Ronnie Cohen explained that the licensing model was created to support standardization efforts and prevent monopoly situations. Euroface is a leading company with a large pro segment involved with hotels and builders. As the company grows its channels in the Pro and hotel segments, they expect more opportunities for licensing with other major companies. Q: With regard to the dozen or so large projects (North Carolina, San Antonio, Europe, Miami smart city, etc.), what SKYX products are going to be involved, such as the smart turbo heater fan or the Gen. 3 all-in-one?A: Ronnie Cohen confirmed that these products are definitely being discussed for involvement. He reiterated the "razor and blade" model: once the receptacle (razor) is installed, customers can plug in light fixtures, smart platforms, or ceiling fans. The all-in-one smart platforms are part of the portfolio for upcoming projects, and there is significant excitement and discussions with many parties regarding that product. Q: Has there been any incremental material change on the standardization front for the mandatory ceiling receptacle since last quarter?A: Ronnie Cohen said there is no material change to report, but definite progress is being made. The company is attacking from several angles with safety organizations and feels they are getting closer. He emphasized the strong case for the life-saving device, noting they have met all conditions, including ANSI/NEMA specifications and NEC votes, and already have a generic name (WSCR - Weight Support Ceiling Receptacle) in the code books. While the process is slow, they feel closer than ever after 14 years of progress. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved 10 consecutive quarters of year-over-year growth despite a broader decline in the real estate and home decor markets. Strategic pivot toward the hotel and builder segments is driven by a value proposition of reducing installation and renovation time and costs by up to 90%. Expansion into the European market is accelerating through partnerships with Group OTT and Accor Hospitality Group, targeting a total market of over 132,000 hotels. The business model is evolving from hardware sales to a 'razor-and-blade' strategy, where installed receptacles create long-term recurring revenue through AI services, monitoring, and subscriptions. Licensing agreements, such as the one signed with Eurofase, are being utilized as a strategic tool to support standardization efforts and prevent monopolistic concerns. Performance in the retail segment is being bolstered by the patented turbo heater fan, which is showing resilience even during off-peak summer months. Management expects the company to become cash flow positive as it exits 2026, supported by a cash position of $27.7 million. The company aims to deliver over 100,000 units through pro and retail segments by the end of 2026, with a long-term pipeline exceeding 1 million units. Gross margins are expected to improve in the second half of 2026 as the product mix shifts toward higher-margin builder and hotel supplies. Launch of Gen 3 all-in-one smart platforms is contingent on final regulatory approvals from the FCC and other code bodies, with hardware and software already finalized. Future growth will be supported by the launch of an AI-driven e-commerce platform specifically enhanced for the builder and hotel segments. The 14-year effort toward mandatory safety-code standardization is nearing a critical phase, with the technology already assigned the generic name 'WSCR' in code books. Active discussions and interest are underway with insurance companies to leverage the safety elements of the technology for potential collaborations. The company successfully reduced its interest-bearing debt by $2 million as of June 30, 2026. Operating cash burn was reduced by approximately 39% sequentially from Q1 to Q2 2026. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management attributed the slight Q2 margin dip to product mix but expects expansion as higher-margin hotel and builder segment deliveries scale. The turbo heater fan is expected to be a significant contributor to margin growth during the upcoming fall and winter seasons. Hardware and software testing is complete with samples in hand; however, mass production is currently awaiting final FCC and regulatory code approvals. Management expressed high confidence in demand from multiple sectors once these external regulatory hurdles are cleared. While management cannot yet label progress as 'material,' they indicated they are 'closer than ever' after 14 years of development. The strategy involves attacking standardization from four different safety organization angles simultaneously. The licensing model is specifically designed to satisfy National Electrical Code requirements for broad market availability and to avoid monopoly status. Eurofase was selected due to its large existing footprint in the pro, hotel, and builder segments across North America and Europe.

Interested in SKYX Platforms Corp.? Here are five stocks we like better. Record Q2 revenue reached $25.3 million, up 14% sequentially and 10% year over year, marking SKYX’s 10th consecutive quarter of annual growth. First-half revenue rose 10% to $47.4 million. SKYX ended June with $27.7 million in cash and restricted cash, reduced operating cash use and cut interest-bearing debt by $2 million. Management aims to exit 2026 cash-flow positive while deploying more than 100,000 units. The company is expanding hotel, builder and international projects, while advancing new SkyFan sizes, its Gen-3 monitoring product and licensing opportunities. Gen-3 still requires U.S. regulatory approvals before mass production. SKYX Platforms (NASDAQ:SKYX) reported record second-quarter revenue of $25.3 million, up 14% sequentially from $22.1 million in the first quarter and 10% from $23 million a year earlier. Management said the result marked its 10th consecutive quarter of year-over-year growth, despite continued declines in the real estate and home décor markets. For the first six months of 2026, revenue rose 10% to $47.4 million from $43.2 million in the prior-year period. Second-quarter gross profit increased 4% year over year to $7.3 million, while first-half gross profit increased 10% to $13.9 million. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat CEO Lenny Sokolow said the company had $27.7 million in cash equivalents and restricted cash as of June 30, compared with $10.1 million at the end of 2025. Net cash used in operating activities declined about 39% to $3.7 million in the second quarter from $6 million in the first quarter, and the company reduced interest-bearing debt by $2 million as of June 30. President Steve Schmidt said management believes its cash position is sufficient to pursue its objectives, including becoming cash-flow positive as it exits 2026. The company expects to deliver more than 100,000 units through its professional and retail segments by the end of the year and said it expects more than 1 million units of its products to be deployed across its project pipeline. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be During the question-and-answer session, Founder and Executive Chairman Rani Kohen said the company was beginning to supply certain projects during the third quarter, with additional supply expected in the fourth quarter, the first quarter of 2027 and beyond. Kohen said the company remained confident it would have 100,000 units in the market by the end of 2026. Management said the mix of products supplied to builder and hotel customers could support higher gross margins in coming quarters. Kohen said sales growth in SkyFan & Turbo Heater products and other offerings directed to builders and hotels would increase the mix of higher-margin products. → First Solar’s Profit Engine Faces a New Policy Test in Washington SKYX highlighted several hospitality and international initiatives announced during or after the quarter. The company said it will supply its technologies for the renovation of a Marriott City Center hotel in Durham, North Carolina. It also said Group OTT, a European hotel developer with more than 250 hotels and buildings, will make the company’s technology a brand standard for its hotel developers. The company said its technology is being deployed in renovations of the Grand Hotel du Parc in France and The Mozart Prague, a five-star Accor Hospitality Group hotel. SKYX also announced an additional agreement with Group OTT Heritage Hospitality Group to deploy and market its technologies across the European hotel market. Management cited additional previously announced projects in North Carolina, Austin, San Antonio, South Florida, New York, Europe, Saudi Arabia and Egypt, including Miami’s planned $4 billion smart city. Kohen said the company’s ceiling outlet receptacle platform can support a range of connected products, including lighting fixtures, smart-home platforms and ceiling fans. In May, the company signed a licensing agreement with lighting company Eurofase, which operates in the U.S., Canada and internationally. Kohen said the licensing model was created in part to support broader adoption if its technology is standardized by safety or electrical-code organizations. He said the company expects additional licensing opportunities as it expands its channels serving professional, hotel and builder customers. Management said sales of the SkyFan & Turbo Heater continued to grow despite the summer season, which Kohen characterized as a period when demand for heating products would typically be weak. The company plans to introduce a smaller version for smaller rooms by the next quarter and a larger version intended for bigger rooms in the fourth quarter, according to Kohen. SKYX also provided an update on its Gen-3 monitoring product. Kohen said the company has received production samples that are testing well and that both the software and hardware are in good condition. However, the product still requires U.S. FCC and other regulatory approvals before mass production can begin. Kohen said the timing of those approvals is outside the company’s control, though management hopes to begin supplying the product in the next quarter. The company said its product ecosystem could provide future recurring-revenue opportunities from interchangeability, upgrades, artificial-intelligence services, monitoring and subscriptions. Kohen also said SKYX is in the final stages of launching AI-driven software on its e-commerce platform and expects to enhance the platform for builder and hotel customers. Management said its safety-code standardization team continued efforts to establish a mandated standard for its ceiling outlet receptacle technology in homes and buildings. Kohen said the company has been pursuing the initiative for 14 years and believes it is making progress, but he did not provide a timetable for potential standardization. Kohen noted that the company’s technology has a generic name in code books, Weight-Supporting Ceiling Receptacle, or WSCR, and said SKYX has met requirements involving ANSI/NEMA specifications, National Electrical Code votes and National Fire Protection Association demands. He said the company is also discussing potential collaborations with insurance companies based on the safety features of its products. SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications. The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SKYX Platforms Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

SKYX Reports over $27.7 Million in Cash and Cash Equivalents as of June 30, 2026, Management Believes It Has Sufficient Cash to Achieve Its Goals Including Becoming Cash Flow Positive as It Exits 2026 39% Reduction in Cash Used in Operating Activities to $3.7 million in Q-2 of 2026 from $6.0 million in Q-1 of 2026 Gross Profit Continues to Grow with 4% Increase to $7.3 Million in Q-2 of 2026 Compared to Q-2 of 2025 and a 10% Increase to $13.9 Million for the First Half of 2026 Compared to $12.7 Million for the First Half of 2025 SKYX Recently Announced it Will Supply Its Technologies During a Renovation of a Marriott City Center Hotel in Durham, NC In May 2026 SKYX Announced Its Technology Will Become Brand Standard for European Hotel Developers Group OTT, Developer Over 250 Hotels and Buildings Across Europe                         In May 2026 SKYX Announced Its First European Hotel in France During a Renovation of an Historical Architectural Preservation Hotel, The Grand Hotel du Parc (formerly The Grand Medicis Hotel) In June 2026 SKYX Announced It Will Deploy Its Technologies to Its Second European Hotel During a Renovation of 5-Star Accor Hospitality Group Hotel Mozart Prague SKYX Signed Additional Agreement with Group OTT Heritage Hospitality Group to Deploy and Market Its Technologies to Vast European Hotel Market of Over 132,000 Hotels In May 2026 SKYX Signed a Licensing Agreement for Its Advanced Technologies with U.S., Canada, and Global Leading Lighting Company Eurofase SKYX Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During the Course of Its Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments SKYX’s Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San Antonio, South Florida (Including Miami’s New $4 Billion Smart City), New York, Europe, Saudi Arabia, and Egypt Despite One of the Hottest Summers on Record, SKYX’s Sales of Its Patented Turbo Heater Fan are Continuing to Grow and Company Expects Sales to Significantly Grow Towards Fall and Winter Seasons and Will Provide Additional Products in New Designs and Larger Sizes SKYX’s Technology Expansion Provides Additional Opportunities for Future Recurring Revenues Through Interchangeability, Upgrades, AI Services, Monitoring, Subscriptions, and More SKYX’s Enhanced Safety Code Standardization Team Continues Its Progress Toward Its Goal of a Safety-Mandated Standardization in Homes/Buildings of Its Life-Saving Ceiling Outlet/Receptacle Technology MIAMI, Aug. 12, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive advanced smart home and AI platform technology company with over 100 pending and issued patents globally and 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported its financial and operational results for the second quarter ended June 30, 2026. SKYX will hold a conference call today, August 12, 2026, at 4:30 pm, Eastern Time, to discuss the results. See below for dial-in information. Second Quarter 2026 Highlights and Recent Events Generated an increase of 14% in revenues to a record $25.3 million in second quarter 2026 compared to $22.1 million in revenues in first quarter 2026 and an increase of 10% compared to $23.1 million for the second quarter of 2025. As of June 30, 2026, Company reported $27.7 million in total cash, cash equivalents, and restricted cash compared to $10.1 million as of December 31, 2025. Reporting 10 consecutive YoY quarters of growth. Revenues for the six months ended June 30, 2026, increased 10% to a record $47.4 million compared to $43.2 million for the six months ended June 30, 2025. SKYX continues to leverage the rapid conversion of its e-commerce sales into cash, advancing it’s cash position often referred to as the “Dell Working Capital Model”, lowering its cost of capital. Management believes it has sufficient cash to achieve its goals including becoming cash flow positive exiting 2026. The gross profit for the second quarter ending June 30, 2026, increased comparatively to the second quarter of 2025 by 4% to $7.3 million. Gross profit for the six months ended June 30, 2026, increased comparatively by 10% to $13.9 million, compared to $12.7 million for the six months ended June 30, 2025. Net loss decreased by $0.6 million to $8.2 million in the second quarter of 2026 compared to $8.8 million in the second quarter of 2025 and decreased by $1.1 million sequentially compared to $9.3 million in the first quarter of 2026. Net loss per share was $0.06 per share in the second quarter of 2026 compared to $0.08 in the second quarter of 2025. Adjusted EBITDA loss, a non-GAAP measure, improved sequentially to $3.5 million in the second quarter of 2026 from $3.9 million in the first quarter of 2026, as compared to $2.6 million in the second quarter of 2025. Net cash used in operating activities was reduced by 39% to $3.7 million in the second quarter of 2026 from $6.0 million in the first quarter of 2026. The Company reduced interest-bearing debt by $2.0 million as of June 30, 2026. The Company maintains a structurally favorable working capital profile, with customers paying in advance of supplier payment obligations. This results in a net working capital deficit representing 9.8% of revenues and supports rapid conversion of e-commerce sales into operating cash flow. Builder / Hotel Segments and General Market Acceptance SKYX Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During the Course of Its Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments. SKYX’s Future Projects in the U.S. and Globally Include Projects in North Carolina, Austin, San Antonio, South Florida (Including Miami’s New $4 Billion Smart City), New York, Europe, Saudi Arabia, and Egypt. SKYX announced the launch of its patented advanced SKYFAN and Turbo Heater to the leading U.S. retailer The Home Depot, including a new SkyPlug branding page on HomeDepot.com. SKYX recently announced the launch of its Turbo Heater fan at leading U.S. retailers Target, Walmart, and Lowe’s, and on its e-commerce platform across 60 websites. Based on the Growing Sales of its patented Turbo Heater fan, SKYX is expanding the category of the “All-Season Ceiling Fan” — heat in winter and cool in summer — to provide additional products in new designs and larger sizes. Technology Roadmap SKYX’s technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more. SKYX will be launching a new AI-driven system and infrastructure for its e-commerce platform of 60 websites, expected to significantly increase its conversion rate and sales. The Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers including in the U.S., Vietnam, Taiwan, China, and Cambodia. SKYX announced a collaboration with the NVIDIA AI Ecosystem Connect Program. SKYX expects to grow its collaboration with NVIDIA through its existing and future smart home projects. Safety Standardization Mandatory Code and Insurance Exposure SKYX's Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety agency’s process for a safety mandatory standardization of its electrical ceiling outlet/receptacle technology. SKYX’s code team is led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). The Company’s Safety Code Standardization team believes it will garner assistance from additional safety organizations with its code mandatory safety standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, considering the Company’s standardization progress including its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings. The Company strongly believes its products can save insurance companies many billions of dollars annually by minimizing risks (e.g., reducing fires, ladder fall injuries, and electrocutions). Management expects that insurance companies will use the Company’s range and variations of its safe advanced plug & play products to reduce its exposure and minimize its risks. Financing Highlights SKYX cash, cash equivalents and restricted cash increased to $27.7 million as of June 30, 2026, as compared to $10.1 million as of December 31, 2025, as we raised $29 million in straight equity, with no warrants during January 2026 through two fundamental institutional investors, $25 million at $2.50 per share and $4 million at $2.00 per share. In 2025 we extended $13.5 million in notes coming due with maturity out to 5 years until 2030. Second Quarter 2026 Financial Results The Company’s financial statements for the quarter ended June 30, 2026, are filed with the SEC and are available on the Company’s investor relations website. https://ir.skyplug.com/sec-filings/ Management Commentary Company’s Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen, Microsoft, Disney, GE, The Home Depot, Office Depot, Chrysler, among others. 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. 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 smart home and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 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 https://skyplug.com/ or follow us on LinkedIn. 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 First-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, including recent measures adopted by the federal government, 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. Non-GAAP Financial Measures Management considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating the Company’s business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as adjusted, enables management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as adjusted, as a primary measure, among others, to analyze and evaluate financial and strategic planning decisions regarding future operating investments and potential acquisitions. The Company believes that EBITDA, as adjusted, eliminates items that are not part of the Company’s core operations, such as interest expense and amortization expense associated with intangible assets, or items that do not involve a cash outlay, such as share-based payments and non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in addition to, rather than as a substitute for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This non-GAAP financial measure excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements and is subject to inherent limitations. Investors should review the reconciliation of this non-GAAP financial measure to the comparable GAAP financial measure. Investors should not rely on any single financial measure to evaluate the Company’s business. Investor Relations Contact: Jeff RamsonPCG [email protected] Ronald A. BothEncore Investor [email protected] Dial-In Information: Participating Management SKYX Participating Members will Include: Rani Kohen, Founder and Executive Chairman Lenny Sokolow, CEO Steve Schmidt, SKYX President (former CEO of Nielsen Data Corporation and former President of Office Depot International) Marc Boisseau, CFO Conference Call and Webcast Details Call me™: https://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6 Participants may use the dial-in numbers above and be assisted by an operator or use the Call me™ link for instant telephone access. The Call me™ link will become active 15 minutes before the scheduled start time. Please connect at least 10 minutes before the start of the call to ensure timely participation. Telephone Replay A telephone replay is expected to be available approximately three hours after the conference call and will remain available through Friday, September 11, 2026, at 11:59 p.m. Eastern Time. Replay dial-in: 1-844-512-2921 or 1-412-317-6671

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by nine consecutive quarters of year-over-year growth, achieving record Q1 revenues of $22 million despite a broader slowdown in the new-build market. Management is pivoting toward a 'razor-and-blade' model, focusing on B2B segments like hotels and builders to establish a permanent electrical and electronic footprint in properties. The 16% increase in gross profit was attributed to a higher mix of new products in e-commerce and the implementation of AI-driven software across approximately one-third of the company's web platforms. Operational efficiency is being realized through the 'Dell working capital model,' leveraging rapid conversion of e-commerce sales into cash to lower the cost of capital. Strategic positioning in the European market was significantly expanded through a partnership with Group OT to establish SKYX technologies as a brand standard across their portfolio. The value proposition for B2B clients centers on labor efficiency, with management claiming their technology reduces installation and renovation time and costs by up to 90%. Market expansion is being supported by a collaboration with the NVIDIA AI Ecosystems Connect program to integrate advanced smart home features into future projects. Management maintains the goal of becoming cash flow positive by the end of 2026, supported by a significantly improved cash position of over $32 million. The company expects to deploy over 1 million units through global projects and 100 thousand units via retail segments by 2026. The Generation 3 all-in-one smart platform hub is on track for production in mid-to-late 2026, which is expected to unlock recurring revenue through monitoring subscriptions and AI services. Guidance assumes a significant seasonal tailwind in the upcoming winter for the Turbo Heater Fan, which is being expanded into a full 'all-season' ceiling fan category. The company anticipates finalizing the AI-driven software migration for its 60 websites by the end of Q3 2026. Standardization remains a long-term regulatory process; the company is currently working with the NFPA and NEC to mandate its safety-receptacle technology. Management is initiating a new strategic push toward insurance companies, aiming to demonstrate how their safety features can reduce property damage and ladder-fall liability. Supply chain diversification is being actively managed across Taiwan, Cambodia, the Philippines, and Vietnam to mitigate geographic concentration risks. The GE five-year global licensing agreement remains active following GE's merger of its licensing division with Dolby, with licensing expected to scale alongside standardization milestones. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed that several projects in Texas and New York have already transitioned to purchase orders, with supply expected to begin in the coming months. The B2B strategy focuses on 'owning the real estate' of the electrical outlet to facilitate future software and hardware upgrades. Margins improved to 30% due to a shift toward higher-margin lighting and home décor products and the efficiency of AI-driven customer profiling on e-commerce sites. Management expects further margin benefits as the AI software implementation reaches 100% completion by year-end. The company is partnering with ProFab to develop 'Made in USA' capabilities for the all-in-one platform. Management noted that because PCB production is highly automated, U.S. labor costs are not a significant deterrent to maintaining competitive margins.

Interested in SKYX Platforms Corp.? Here are five stocks we like better. SKYX Platforms posted record Q1 revenue of $22 million, up 10% year over year, marking its ninth straight quarter of growth. Gross profit rose 16% and gross margin improved to 30%, while the net loss per share narrowed to $0.07. The company’s cash position strengthened sharply, with $32 million in cash equivalents and restricted cash at quarter-end versus $10 million at the end of 2025. Management said this gives SKYX room to pursue its goal of becoming cash flow positive exiting 2026. B2B hotel and builder deals remain a major growth driver, highlighted by partnerships with Group OTT and a first European hotel project in Bordeaux. SKYX is also expanding retail sales through the turbo heater fan, AI-driven e-commerce upgrades, and plans for additional products and store channels. SKYX Platforms (NASDAQ:SKYX) reported higher first-quarter revenue and improved gross margin, while management said the company remains focused on expanding its business-to-business pipeline with hotels and builders and growing its retail and e-commerce channels. On the company’s earnings call for the first quarter of 2026, President Steve Schmidt said SKYX generated record quarterly revenue of $22 million, up 10% from $20 million in the first quarter of 2025. He said the result marked the company’s ninth consecutive quarter of year-over-year growth. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum Schmidt said gross profit rose 16% to $7 million from $6 million a year earlier, while gross margin improved to 30% from 28%. Chief Executive Officer Lenny Sokolow said net loss per share narrowed to $0.07 from $0.09 in the prior-year quarter. Adjusted EBITDA loss per share, a non-GAAP measure, improved to $0.03 from $0.04. The company also reported a stronger cash position. Sokolow said SKYX had $32 million in total cash equivalents and restricted cash as of March 31, 2026, compared with $10 million at the end of 2025. He said the company continues to benefit from rapid conversion of e-commerce sales into cash, referring to the approach as similar to the “Dell working capital model.” → MercadoLibre Boldly Invests in Growth: Discount Deepens Management said it believes the company has sufficient cash to pursue its goal of becoming cash flow positive exiting 2026. Schmidt said SKYX is focused on what management calls a “razor and blade model,” targeting B2B segments including hotels and builders, along with retail opportunities through e-commerce and big-box retailers. He said the company continues to grow despite a slow new-build market affecting smart home, lighting and home decor categories. → 3 Ways to Target the Resources Powering AI and Data Centers Schmidt highlighted a strategic partnership with European hotel and real estate developer Group OTT to deploy SKYX’s smart and AI platform technologies as a brand standard across hotel and building segments. He said Group OTT has developed more than 250 hotels and buildings across Europe. The company said it will deploy its technologies at the Grand Hôtel de Bordeaux in France, described on the call as the first European hotel project under the relationship and a renovation of a historical architectural preservation hotel. Schmidt also said SKYX signed an additional agreement with Group OTT Heritage Hospitality Group to deploy and market its technologies to the European hotel market, which he said includes more than 132,000 hotels. Schmidt said SKYX expects to supply its technologies to current and future projects in the U.S. and internationally, citing New York, North Carolina, Austin, San Antonio, South Florida, Europe, Saudi Arabia and Egypt among target locations. He also referenced Miami’s new $4 billion smart city. During the question-and-answer session, Lake Street Capital Markets analyst Jacob Stephan asked how many construction projects had moved from signed agreements to active supply orders. Founder and Executive Chairman Rani Kohen said “a few projects” had moved to purchase orders and that the company expects to begin supplying products in the coming months to several locations, including Texas, New York, San Antonio and potentially the first European hotel it announced. Kohen said the company is in discussions with additional developers and hotel developers, adding that management sees the B2B hotel and builder market as a “strong path” for SKYX. He said the company’s technology can reduce time and labor costs for certain renovations and installations by up to 90%. Management also discussed retail momentum, particularly for SKYX’s patented turbo heater fan. Schmidt said sales of the product continue to grow despite warmer weather and that the company is working on additional products, designs and sizes as it expands the category into what it calls an all-season ceiling fan, providing heat in winter and cooling in summer. Kohen said SKYX plans to introduce additional turbo heater fan models, including smaller and larger sizes. He said the company intends to offer the products in five colors and expects more announcements about new products and additional sales channels in the coming months. In response to Roth Capital Partners analyst Tom Hayes, Kohen said management expects the winter season to provide a stronger demand opportunity for the product because space heaters typically sell most strongly from October through February. He said the company is nevertheless seeing growth during the summer, which he described as a “pleasant surprise.” When asked by Stephan about potential orders from big-box retailers, Kohen did not quantify a single SKU order. However, he said broader store penetration with retailers such as Home Depot, Target and Lowe’s could become meaningful, particularly if the company expands beyond a few stores or a few hundred stores to more than 1,000 or 2,000 stores. Management said SKYX is also upgrading its e-commerce platform using AI-driven software. Kohen said approximately 30% or more of the company’s websites have been merged into the AI-driven software, up from more than 20% on the prior call. He said the company expects to continue progress this quarter and hopes to complete the project during the third quarter. In response to a question from Litchfield Hills Research analyst Barry Sine, Kohen said the quarter’s growth was driven by a combination of factors, including SKYX and SkyPlug products, the turbo heater fan, home decor and lighting products, and AI-driven website upgrades. Kohen said the AI software helps identify customers faster, improve site navigation and better match customers with products they may be more likely to purchase. He said management expects the full rollout to provide more data and support further growth in the e-commerce business. SKYX also discussed its Generation 3 All-in-One Smart Platform hub. Sokolow said the product remains on track for mid- to third-quarter production. Kohen said the platform is intended to serve multiple markets, including home security, home safety, smart home, communications, hospitality, cruise, elder living and hospitals. He said the product could support future recurring revenue opportunities, including monitoring subscriptions and AI services. Management said SKYX continues to work toward safety-mandated standardization for its ceiling outlet receptacle technology. Kohen said the process is lengthy but that the company believes it is in the “final stages.” He said the company’s code team is led by Mark Earley, former head of the National Electrical Code and chief engineer of the National Fire Protection Association, along with Eric Jacobson, former president and CEO of the American Lighting Association. Kohen said the company is holding meetings “almost every month now or even more than once a month” with relevant groups. He also said SKYX hopes to introduce products to insurance companies this year, citing potential safety benefits tied to reducing electrical hazards and ladder falls. Asked by Maxim Group analyst Jack Vander Aarde about SKYX’s global licensing partnership with General Electric, Kohen said the agreement remains in place and that GE’s licensing division is now connected with Dolby. He said licensing could become more significant as the company progresses on standardization and insurance-related opportunities. On manufacturing, Kohen said SKYX continues to work with Profab, a South Florida manufacturer of electronic boards, and sees an opportunity to develop a U.S. manufacturing channel for the All-in-One Smart Platform. He said the company is also working with or evaluating manufacturers in China, Taiwan, Cambodia, the Philippines, the U.S. and Vietnam, and believes its manufacturing partners are capable of producing millions of units. Kohen closed the call by saying the company expects to continue sharing progress with investors, including potential announcements before its next earnings call if developments are ready to be disclosed. SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications. The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SKYX Platforms Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

SKYX Reports over $32 Million in Cash and Cash Equivalents as of March 31, 2026, Management Believes It Has Sufficient Cash to Achieve Its Goals Including Becoming Cash Flow Positive in 2026 Gross Profit Continues to Improve with 16% Increase to $7.0 Million in Q-1 of 2026 Compared to $6 Million in Q-1 2025 Gross Margin Continues to Improve to 30% in Q-1 2026 from 28% in Q-1 2025 SKYX Entered into a Strategic Partnership Agreement with Prominent European Hotel and Real Estate Developer Group OTT, to Deploy Its Advanced Smart and AI Platform Technologies as a Brand Standard Throughout Its Hotels and Buildings. Group OTT Has Developed Over 250 Hotels and Buildings Across Europe In May 2026 SKYX Announced It Will Deploy Its Advanced and Smart Technologies to Its First European Hotel During a Master Renovation of an Historical Architectural Preservation Hotel, The Grand Hotel du Parc (formerly The Grand Medicis Hotel), in La Bourboule, France SKYX Signed Additional Agreement with Group OTT Heritage Hospitality Group to Deploy and Market Its Technologies to Vast European Hotel Market of Over 132,000 Hotels SKYX Technologies Reduces Up to 90% Time and Cost of Buildings and Hotel Renovation/Installations or New Build and is Continuing Discussions with Additional Hotel Groups and Owners Regarding Utilization of its Game-Changing Advanced and Smart Platform Technologies SKYX Is Expected to Supply Its Advanced Smart Home Technologies to Upcoming and Future Key Projects in the U.S. and Globally, Including New York, North Carolina, Austin, San Antonio, South Florida (Including Miami’s New $4 Billion Smart City), Europe, Saudi Arabia, and Egypt SKYX Is Expected to Deploy Over 1-Million Units of Its Products including Its Advanced Smart Home Plug-and-Play Technologies During These Projects and to Over 100,000 Units/Homes by the End of 2026 Through Its Pro and Retail Segments Despite Warmer Weather, SKYX’s Sales of Its Patented Turbo Heater Fan are Continuing to Grow and Company Will Be Expanding the Category of the “All-Season Ceiling Fan” — Heat in Winter and Cool in Summer — to Provide Additional Products in New Designs and Larger Sizes In Q-1 SKYX Announced Beginning of Its Collaboration with NVIDIA AI Ecosystem Connect Program, Expecting to Grow Its Collaboration with NVIDIA into Future Smart Home Projects SKYX’s Technology Expansion Provides Additional Opportunities for Future Recurring Revenues Through Interchangeability, Upgrades, AI Services, Monitoring, Subscriptions, and More SKYX’s Enhanced Safety Code Standardization Team Continues Its Progress Toward Its Goal of a Safety-Mandated Standardization in Homes/Buildings of Its Life-Saving Ceiling Outlet/Receptacle Technology MIAMI, May 11, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive advanced smart home and AI platform technology company with over 100 pending and issued patents globally and 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today reported its financial and operational results for the first quarter ended March 31, 2026. SKYX will hold a conference call today, May 11, 2026, at 4:30 pm, Eastern Time, to discuss the results. See below for dial-in information. First Quarter 2026 Highlights and Recent Events Generated its greatest increase in YoY revenues of 10% with record $22 million in revenues in first quarter of 2026 compared to $20 million for the first quarter of 2025. Reporting 9 consecutive YoY quarters of growth. As of March 31, 2026, Company reported $32 million in total cash, cash equivalents, and restricted cash compared to $10 million as of December 31, 2025. SKYX’s continues to leverage the rapid conversion of its e-commerce sales into cash, advancing it cash position often referred to as the “Dell Working Capital Model”, lowering its cost of capital. Management believes it has sufficient cash to achieve its goals including becoming cash flow positive exiting 2026. The gross profit for the first quarter ending March 31, 2026, increased comparatively by 16% to $7 million, compared to the first quarter ending March 31, 2025. The gross margin for the first quarter ending March 31, 2026, increased comparatively by 2% to 30%, compared to 28% in the first quarter ending March 31, 2025. Net loss per share decreased by $0.02 to $0.07 per share in the first quarter of 2026 compared to $0.09 in the first quarter of 2025. Adjusted EBITDA loss per share, a non-GAAP measure, decreased to $0.03 per share in the first quarter of 2026, as compared to $0.04 per share, in the first quarter of 2025. Builder / Hotel Segments and General Market Acceptance SKYX is continuing its significant progress with the hotel and builder segments. SKYX technologies reduces up to 90% time and cost of buildings and hotel renovations/ installations or new build and is continuing discussions with additional developers, hotel groups and owners regarding utilization of its game-changing advanced and smart platform technologies. Company entered into a strategic partnership agreement with prominent European hotel and real estate developer, Jean-François Ott, Founder of Group OTT, to deploy Its advanced and smart electrical technologies as a brand standard throughout its hotels and buildings. Over the past 35 years Group OTT have developed more than 250 hospitality, residential, and commercial buildings valued at over $4 billion throughout Europe. In May 2026 SKYX announced it will deploy its advanced and smart technologies to its first European hotel during a master renovation of an historical architectural preservation hotel, The Grand Hotel du Parc (formerly The Grand Medicis Hotel), in La Bourboule, France. SKYX has signed an additional agreement with OTT Heritage Hospitality group to deploy and market its technologies to the vast European hospitality market of more than 132,000 hotels. During the course of this additional agreement, OTT Heritage Hospitality expects to market and deploy SKYX’s disruptive technologies into hundreds of European hotels, buildings, and developments. Approximately 124,000 hotel rooms are projected to open in Europe in 2026, with over 250,000 additional rooms in the industry-wide development pipeline. SKYX has successfully demonstrated its technology during a Marriott Hotel renovation and expects to grow its hotel segment during 2026. Marriott Hotel chain owner, The Shaner Group, led a $16.5 million investment round. The Shaner Group is an owner and developer of more than 70 hotels worldwide. SKYX is expected to supply its advanced smart home technologies to upcoming and future key projects in the U.S. and globally, including projects in Pittsford, New York; North Carolina; Austin, Texas; San Antonio, Texas; South Florida including the new $4 billion smart city in Miami, Florida; Europe; Saudi Arabia; and Egypt; among others. SKYX is expected to deploy over 1 million units of its advanced smart home plug-and-play technologies during these projects. SKYX continues its growth and expects to deploy over 100,000 of its products into homes/units during 2026 through retail and pro segments. SKYX announced the launch of its patented advanced SKYFAN and Turbo Heater to the leading U.S. retailer Home Depot, including a new SkyPlug branding page on HomeDepot.com. SKYX recently announced the launch of its Turbo Heater fan at leading U.S. retailers Target, Walmart, and Lowe’s, and on its e-commerce platform across 60 websites. Based on the Growing Sales of Its Patented Turbo Heater Fan, SKYX Is Expanding the Category of the “All-Season Ceiling Fan” — Heat in Winter and Cool in Summer — to Provide Additional Products in New Designs and Larger Sizes. Technology Roadmap SKYX announced a collaboration with the NVIDIA AI Ecosystem Connect Program. SKYX expects to grow its collaboration with NVIDIA through its existing and future smart home projects. SKYX’s technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more. SKYX will be launching a new AI-driven system and infrastructure for its e-commerce platform of 60 websites, expected to increase its conversion rate and sales up to 30%. The Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers including in the U.S., Vietnam, Taiwan, China, and Cambodia. Financing Highlights SKYX cash, cash equivalents and restricted cash increased to $32 million as of March 31, 2026, as compared to $10 million as of December 31, 2025, as we raised $29 million in straight equity, with no warrants during January 2026 through two fundamental institutional investors, $25 million at $2.50 per share with $4 million at $2.00 per share. In 2025 we extended and converted $13.5 million in notes coming due with maturity out to 5 years until 2030. Safety Standardization Mandatory Code and Insurance Exposure SKYX's Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety agency’s process for a safety mandatory standardization of its electrical ceiling outlet/receptacle technology. SKYX’s code team is led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). The Company’s safety Code Standardization team believes it will garner assistance from additional safety organizations with its code mandatory safety standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, considering the Company’s standardization progress including its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings. The Company strongly believes its products can save insurance companies many billions of dollars annually by minimizing risks (e.g., reducing fires, ladder fall injuries, and electrocutions). Management expects that insurance companies will use the Company’s range and variations of its safe advanced plug & play products to reduce its exposure and minimize its risks. First Quarter 2026 Financial Results The Company’s financial statements for the quarter ended March 31, 2026, are filed with the SEC and are available on the Company’s investor relations website. https://ir.skyplug.com/sec-filings/ Management Commentary Company’s Management, Board members, and Senior Advisors include former CEO’s and executives from Fortune 100 companies including Nielsen, Microsoft, Disney, GE, Home Depot, Office Depot, Chrysler, among others. The Company is trending positively, generating record first quarter 2026 revenues of $22 million as compared to $20 million for the first quarter of 2025, a gross profit for the first quarter ending March 31, 2026, increasing comparatively by 16% to $7 million, compared to the first quarter ending March 31, 2025 and a gross margin for the first quarter ending March 31, 2026, increasing comparatively by 2% to 30%, compared to 28% in the first quarter ending March 31, 2025. We believe our positive trends will accelerate going into 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 adjusted EBITDA loss of SKYX on a comparative quarterly basis. Our e-commerce platform with 60 websites is expected to continue to provide additional cash flow to the Company. 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 smart home and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 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 https://skyplug.com/ or follow us on LinkedIn. 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 First-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, including recent measures adopted by the federal government, 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. Non-GAAP Financial Measures Management considers earnings (loss) before interest, taxes, depreciation and amortization, or EBITDA, as adjusted, an important indicator in evaluating the Company’s business on a consistent basis across various periods. Due to the significance of non-recurring items, EBITDA, as adjusted, enables management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as adjusted, as a primary measure, among others, to analyze and evaluate financial and strategic planning decisions regarding future operating investments and potential acquisitions. The Company believes that EBITDA, as adjusted, eliminates items that are not part of the Company’s core operations, such as interest expense and amortization expense associated with intangible assets, or items that do not involve a cash outlay, such as share-based payments and non-recurring items, such as transaction costs. EBITDA, as adjusted, should be considered in addition to, rather than as a substitute for, pre-tax income (loss), net income (loss) and cash flows used in operating activities. This non-GAAP financial measure excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements and is subject to inherent limitations. Investors should review the reconciliation of this non-GAAP financial measure to the comparable GAAP financial measure. Investors should not rely on any single financial measure to evaluate the Company’s business. Investor Relations Contact: Jeff Ramson PCG Advisory [email protected] Ronald A. Both Encore Investor Relations [email protected] Dial-In Information: SKYX Participating Members will Include: Rani Kohen, Founder and Executive Chairman Steve Schmidt, SKYX President, (Former CEO of Nielsen Data Corporation and former President of Office Depot International) Lenny Sokolow, CEO Marc Boisseau, CFO SKYX Platforms – Q1 2026 Corporate Update Call Date: Monday, May 11, 2026 Time: 4:30 p.m. Eastern Time U.S./Canada Toll-Free: 1-877-407-0792 International: 1-201-689-8263 Call me™ Link for Instant Telephone Access: https://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6 Webcast Link: https://viavid.webcasts.com/starthere.jsp?ei=1762924&tp_key=b91980d74a Please dial in at least 10 minutes before the start of the call to ensure timely participation. A replay of the call will be available through June 11, 2026. 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ICF International (ICFI) came out with quarterly earnings of $1.5 per share, missing the Zacks Consensus Estimate of $1.55 per share. This compares to earnings of $1.94 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -3.23%. A quarter ago, it was expected that this consulting and technology services provider would post earnings of $1.53 per share when it actually produced earnings of $1.47, delivering a surprise of -3.92%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. ICF, which belongs to the Zacks Government Services industry, posted revenues of $437.5 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.74%. This compares to year-ago revenues of $487.62 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. ICF shares have lost about 13.7% since the beginning of the year versus the S&P 500's gain of 7.6%. While ICF has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for ICF was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.73 on $474.51 million in revenues for the coming quarter and $7.01 on $1.92 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Government Services is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the broader Zacks Business Services sector, SKYX Platforms Corp. (SKYX), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +22.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. SKYX Platforms Corp.'s revenues are expected to be $21.3 million, up 5.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ICF International, Inc. (ICFI) : Free Stock Analysis Report SKYX Platforms Corp. (SKYX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Achieved eight consecutive quarters of year-over-year revenue growth despite a multi-year decline in the broader lighting, home decor, and new homebuilding markets. Transitioned toward a 'razor and blade' business model where plug-and-play ceiling receptacles (the razor) facilitate high-margin recurring revenue through interchangeable fixtures and smart upgrades (the blades). Expanded gross margins to 30% by increasing market penetration and shifting product mix toward proprietary patented technologies and global joint ventures. Established a new 'all-season' ceiling fan category with the Turbo Heater Fan, designed to maintain sales velocity in winter months when traditional fan demand typically troughs. Strengthened the Builder and Pro segments through 12 major project announcements in 10 months, including a $4 billion smart city project in Miami. Collaborated with NVIDIA's AI Ecosystems Connect program to integrate advanced AI capabilities into future smart home projects and e-commerce platforms. Anticipates deploying over 1 million units of plug-and-play technology across announced global projects in the U.S., Saudi Arabia, and Egypt. Plans to launch an all-in-one smart home platform and hub in Q3 2026, representing the company's third major product category. Expects to deploy over 100,000 products into homes via retail and pro channels by the end of 2026 to accelerate the path to cash flow positivity. Aims to launch new AI-driven software for its 60 e-commerce websites in 2026, with management projecting a potential 30% increase in sales conversion rates. Targets expansion into the hotel renovation sector, citing a Marriott demo that proved electrical lighting renovations could be reduced from months to days. Raised $29 million in Q1 2026 from institutional investors to fund growth initiatives and provide a capital cushion for scaling production. Reduced operating cash usage by 27% year-over-year, reflecting a disciplined approach to OpEx while scaling revenue. Legacy business still accounts for over 90% of total revenue, creating a dependency on traditional lighting sales while the smart plug segment scales. Project timelines in the building arena remain subject to external delays, which could impact the sequencing of unit deployments in Texas and New York. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management reported being 'one step away' from mandatory standardization after receiving 10 favorable votes in the National Electrical Code. The company engaged a senior member to navigate government safety organizations and expedite adoption by leveraging agencies with significant budgets dedicated to life-saving technologies. Standardization is expected to drive high-volume domestic manufacturing as the technology is fully automatable. Management suggested the breakeven revenue target is likely 'quite lower' than $35 million per quarter due to the higher gross margins of new products. Landing a single high-volume SKU in a big-box retail store (Home Depot, Walmart, etc.) is viewed as a potential 'game changer' that would expedite the timeline. Current strategy uses online sales data from big-box websites to determine which colors and styles to stock physically in-store. Management noted that while interest rates affect financing, their technology's primary value proposition is massive labor cost savings. The time-saving aspect of the products provides significant labor cost savings in the hotel segment, where labor is expensive due to hourly pay. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

SKYX reported record revenue of $25 million in Q4 and $92 million for FY2025 (up from $86M), marking eight consecutive quarters of year‑over‑year growth; gross profit rose to $28 million and gross margin improved to 30% while operating cash used fell to $13 million. The company raised $29 million in Q1 2026 and is commercializing the SkyFan & Turbo Heater via its 60 websites and major U.S. retailers (Home Depot, Target, Lowe’s, Walmart), with an All‑In‑One Smart Platform launch planned beginning in Q3 2026 and expanded fan sizes in development. Management expects to deploy over 1 million units across roughly 12 projects (including Miami, Saudi Arabia, Austin and San Antonio), is advancing safety code standardization (10 votes and ANSI/NEMA recognition), and is rolling out AI e‑commerce tools that could boost conversion rates up to 30% as it targets cash‑flow breakeven. Interested in SKYX Platforms Corp.? Here are five stocks we like better. SKYX Platforms (NASDAQ:SKYX) executives highlighted record quarterly and annual revenue in 2025 and outlined several product and commercialization initiatives they believe can support continued growth, despite what management described as a multiyear downturn in lighting, home décor, and new homebuilding markets. President Steven Schmidt said the company posted another record quarter in the fourth quarter, reporting revenue of $25 million. He added that the quarter marked eight consecutive quarters of year-over-year revenue growth. → Quiet BNY and Northern Trust Reward Patient Investors For the full year 2025, management reported record revenue of $92 million, up from $86 million in 2024. Schmidt said gross profit increased to $28 million in 2025 from $25 million in 2024, a $3 million, or 13%, increase. He also said operating cash used in 2025 was $13 million, compared with $18 million in 2024, representing a $5 million, or 27%, reduction. CEO Leonard Sokolow reiterated the company’s revenue and gross profit gains and added that gross margin increased to 30% from 28%. Sokolow said SKYX is “highly focused” on financial metrics and expects further improvements in 2026 and beyond. He also noted that 2025 marked a third consecutive year of annual revenue growth over the last three years, even as the company’s end markets remained in what he called a significant slowdown. → The Silicon Squeeze: AI Pricing Power Lifts Chip Stocks Schmidt said the company raised $29 million in Q1 2026 through investments from “fundamental institutions.” Management also summarized several operational initiatives, including: A collaboration with the NVIDIA AI Ecosystems Connect Program, which Schmidt said will expand SKYX’s work with NVIDIA into future smart home projects. The launch of the company’s SkyFan & Turbo Heater on its e-commerce platform (which management described as 60 websites, including 1stoplighting.com) and through major U.S. retailers including Home Depot, Target, Lowe’s, and Walmart. Plans to expand the “all-season ceiling fan” category—heating in winter and cooling in summer—by adding new designs and larger sizes based on demand. → Is Oracle the First of the AI Bubbles to Pop? Schmidt said the company expects to continue expanding initiatives in 2026 as it works toward becoming cash flow positive. Executives repeatedly pointed to the Turbo Heater Fan as an early proof point for a new category. Sokolow described the all-season fan category as a “precursor” to an “All-In-One Smart Platform and hub,” which the company expects to launch beginning in Q3 2026. Executive Chairman Rani Kohen similarly said the company hopes to start production and launch the platform “around mid to Q3” of the year. Kohen said early sales and indications for the Turbo Heater Fan have been encouraging, adding that the company launched a 24-inch model and is seeing demand for a 30-inch version. He also discussed potential future designs intended for larger spaces, including models up to 60 inches, though he did not provide a timeline for those introductions. Management framed its strategy around a “plug-and-play” and “razor and blade” model, with Kohen noting that in some cases the company supplies the “razor” before the “blades,” and that the “blades” drive more revenue over time. Schmidt said the company expects to supply advanced and smart home technologies to projects in multiple geographies, including New York, North Carolina, Austin and San Antonio in Texas, and South Florida, as well as overseas locations such as Saudi Arabia and Egypt. He said the company expects to deploy over 1 million units of its plug-and-play technologies over the course of those projects. In response to an analyst question seeking a recap, Kohen said the company has announced around 12 projects in the past 10 months. He highlighted a Miami-area smart city project that he said grew from $3 billion to $4 billion and described site work as already underway, with SKYX hoping to begin supplying parts of the project toward the end of the year. He also referenced a Saudi Arabia joint venture-related effort that could include hotels, buildings, and homes, and said the company hopes it can begin in some capacity toward the end of the year. He added that an Austin project could start “very soon,” with San Antonio potentially in the second half of the year (or possibly earlier, depending on timing), and said a New York project could also be supplied “very soon.” On the builder segment, Kohen said the company showed “significant growth” over the past 10 months and expects and hopes to continue growing there, though he did not provide specific figures. Kohen also emphasized a hotel renovation opportunity, saying the company believes its technology can shorten electrical and lighting renovation timelines to “a few days rather than a few months.” He said SKYX demonstrated the concept in a Marriott renovation demo and referenced a $60.5 million investment led by the Shaner Group, which he said owns 80 hotels with more than 60 Marriotts. Kohen said the company’s goal is to grow in the hotel segment and that management hopes to share more in the near future. During Q&A, Kohen discussed the company’s safety code standardization efforts, naming Mark Earley (former head of the National Electrical Code and former chief engineer of the National Fire Protection Association) and Eric Jacobson (former president and CEO of the American Lighting Association) as leaders in SKYX’s code division. Kohen said the company has received 10 votes in the National Electrical Code process and cited a vote by ANSI and NEMA specifying the company’s receptacle specifications as the standard. He characterized the company as “one step away from the mandatory” and said a “very senior member” recently joined the team to help move the effort through additional channels, including potential engagement with government-related safety organizations. Schmidt also said SKYX plans to launch a new AI-driven software in 2026 for its e-commerce platform of 60 websites, which management expects could increase conversion rates by up to 30%. In Q&A, Kohen said the company has already converted about 15% of its sites to the new software and is seeing improvements, including, in some cases, higher gross margin. Asked about product mix, Kohen said that over 90% of the company’s business remains its legacy business, while plug-and-play products are growing rapidly, though he did not provide a detailed revenue breakdown. In discussing the path to cash flow breakeven, Kohen declined to provide a specific quarterly revenue target, but said he believed the level could be “quite lower than $35 million a quarter” due to a growing mix of higher-margin products, including those supported by joint ventures the company announced previously. SKYX Platforms (NASDAQ:SKYX) provides comprehensive maintenance, repair and overhaul (MRO) services and operational support for commercial unmanned aerial systems (UAS). Through its digital platform, the company streamlines the booking, tracking and management of drone maintenance events, ensuring that operators maintain compliance with aviation regulations and industry best practices. SKYX Platforms’ offering is designed to reduce downtime, improve safety and extend the service life of UAS fleets across a wide range of applications. The company’s service portfolio includes scheduled and unscheduled maintenance, component repair, spare parts provisioning, firmware and software updates, and field support. The article "SKYX Platforms Q4 Earnings Call Highlights" was originally published by MarketBeat.