- SKYX Platforms Corp. (SKYX, Financial) will be added to the Russell 2000 index on June 27, 2025.
- The company secured a contract to deploy 500,000 smart home units in Miami's $3B Urban Smart City project.
- SKYX reported Q1 2025 revenue of $20.1 million, up from $18.9 million in Q1 2024 and secured a $15 million investment.
SKYX Platforms Corp. (SKYX), a leader in smart home platform technology, will be officially added to the Russell 2000 index on June 27, 2025. This inclusion could enhance visibility and attract potential institutional investors.
The company has secured a significant contract to deploy 500,000 units of its advanced Plug & Play smart home technologies in Miami’s $3 billion Urban Smart City project. This project will feature 5,700 residential units along with extensive commercial space, marking a major milestone in SKYX's market validation.
Financially, SKYX reported a revenue of $20.1 million for Q1 2025, an increase from $18.9 million in the same quarter of the previous year. The company also secured a $15 million preferred stock investment led by The Shaner Group, with shares priced at $2 each.
Despite a decline in cash position from $15.5 million to $12.3 million year-over-year, SKYX remains optimistic about achieving cash flow positivity by 2025. This projection is supported by the upcoming launch of their new Smart Turbo Heater & Ceiling Fan product line in Q3.
The company anticipates their products to be installed in 30,000 U.S. and Canadian homes by the end of Q2 2025. SKYX's strategic manufacturing partnerships and expanding distribution network are expected to bolster their market reach and operational efficiency.
