skyx

SKYX Platforms Corp. (NASDAQ: SKYX), operating as Sky Technologies, is dedicated to revolutionizing homes and buildings by integrating safe, advanced, and smart technologies. With over 97 U.S. and global patents and a portfolio of more than 60 lighting and home décor websites, SKYX emphasizes high-quality, user-friendly solutions that enhance safety and lifestyle. The company's mission is to establish these innovations as the new standard in residential and commercial environments.

Key Strategic Focus

SKYX's strategic focus centers on developing and commercializing advanced plug-and-play smart home technologies. The company's core objectives include:

• Product Innovation: Creating proprietary technologies such as the SkyPlug and SkyOutlet, which simplify the installation of ceiling fixtures and integrate smart features like voice control and energy management.

• Market Penetration: Expanding its presence in both retail and professional segments, including builders, architects, and designers, through collaborations with industry leaders and leveraging its extensive e-commerce platform.

• Safety Standardization: Advocating for the adoption of its technologies as mandatory safety standards in building codes, aiming to enhance safety and efficiency in electrical installations.

Financials and Funding

In 2024, SKYX reported a 48% increase in revenue, reaching $86.3 million, up from $58.8 million in 2023. This growth was driven by record sales of advanced and smart home products, which surged over 1,000%. The company achieved consecutive quarterly revenue growth throughout 2024, culminating in $23.7 million in Q4. As of December 31, 2024, SKYX held $15.5 million in cash, cash equivalents, and restricted cash. In March 2025, the company secured an additional $1.45 million in funding, including investments from strategic partners through its $2.00 Series A-1 Preferred Offering. Management anticipates becoming cash flow positive during the second half of 2025.

Technological Platform and Innovation

SKYX's technological platform is distinguished by its proprietary plug-and-play solutions that enhance safety and convenience in electrical installations. Key innovations include:

• SkyPlug: A device that allows for the easy and safe installation of ceiling fixtures without the need for complex wiring, reducing the risk of electrical hazards.

• SkyOutlet: A tamper-resistant receptacle designed for secure ceiling installations, ensuring safety and compliance with electrical standards.

• SkyPlug Smart: An advanced version of the SkyPlug that integrates smart features such as voice control, dimming, and scheduling, compatible with platforms like Siri and Alexa.

These technologies have been recognized with multiple Consumer Electronics Show (CES) awards, underscoring their innovation and impact on the smart home industry.

Leadership Team

SKYX's leadership team comprises seasoned professionals with diverse expertise:

• Rani R. Kohen, Founder and Executive Chairman, brings over 20 years of experience in smart home technologies, lighting, and product design.

• John P. Campi, Co-Chief Executive Officer since September 2023, has extensive expertise in cost management and supply chain optimization, with previous executive roles at Chrysler and The Home Depot.

• Leonard J. Sokolow, Co-Chief Executive Officer since September 2023, possesses over two decades of leadership experience in the financial services industry, including roles at Newbridge Financial and vFinance.

• Steve Schmidt, President, formerly served as CEO of Nielsen Data Corporation and President of Office Depot International, bringing valuable leadership experience to SKYX.

• Greg St. John, President of Lighting, Fans, and Smart Home Products, appointed in 2025, has over 30 years of industry experience, including roles as head of lighting at Home Depot and CEO of Eglo and Cordelia Lighting.

Competitor Profile

The smart home technology market is experiencing significant growth, driven by increasing consumer demand for energy efficiency, convenience, and enhanced safety. Key competitors in this space include:

• Lutron Electronics: Specializes in lighting control systems and automated shading solutions, offering a range of smart home products.

• Leviton Manufacturing: Provides electrical wiring devices, lighting controls, and network solutions, with a focus on smart home integration.

• Belkin International (Wemo): Offers a variety of smart home devices, including smart plugs, switches, and cameras, emphasizing user-friendly design.

SKYX differentiates itself through its proprietary plug-and-play technologies that simplify installation processes, enhance safety, and integrate seamlessly with existing smart home ecosystems.

Strategic Collaborations and Partnerships

SKYX has established several strategic collaborations to enhance its market position and expand its capabilities:

• General Electric (GE): A 5-year global licensing partnership to integrate SKYX's patented technologies into GE's product offerings.

• Home Depot: Collaboration to offer SKYX's advanced and smart plug-and-play products to both retail and professional segments.

• Wayfair: Partnership to feature SKYX's products on Wayfair's platform, reaching a broad consumer base.

• Kichler Lighting: Product collaboration to integrate SKYX's technologies into Kichler's high-end lighting and ceiling fan designs.

• Cavco Homes: Integration of SKYX's technologies into Cavco's premium prefabricated homes, showcased at the International Builders' Show.

Operational Insights

SKYX's operational strategy leverages its extensive e-commerce platform, comprising over 60 lighting and home décor websites, to educate consumers and enhance market penetration. The company employs a "Razor & Blades" model, offering advanced ceiling electrical outlets (the "Razor") and a range of plug-and-play products (the "Blades"), including lighting fixtures, ceiling fans, and smart home devices. This approach facilitates recurring revenue through product interchangeability, upgrades, monitoring, and subscription services.

Strategic Opportunities and Future Directions

Looking ahead, SKYX aims to:

• Expand Market Reach: Increase the presence of its products in tens of thousands of homes, targeting both U.S. and Canadian markets.

• Achieve Safety Standardization: Continue efforts to have its technologies adopted as mandatory safety standards in building codes, enhancing market acceptance and regulatory compliance.

• Enhance Product Portfolio: Develop additional smart home products and features to meet evolving consumer demands and technological advancements.

• Strengthen Strategic Partnerships: Forge new collaborations with industry leaders to expand distribution channels and integrate technologies into a broader range of products.

By capitalizing on its proprietary technologies, strategic partnerships, and market momentum, SKYX is well-positioned to drive growth and innovation in the smart home industry.

Contact Information

For investor relations inquiries, please contact:

• Jeff Ramson, PCG Advisory

For media relations, please contact:

• Lucas A. Zimmerman, MZ North America