Sql Technologies Corp ( (SKYX) ) has released its Q3 earnings. Here is a breakdown of the information Sql Technologies Corp presented to its investors.
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Sql Technologies Corp, operating as SKYX Platforms Corp, is a technology company focused on advancing smart home and lighting solutions through its extensive patent portfolio and numerous online platforms in the U.S. and Canadian markets.
SKYX Platforms Corp has reported record revenues of $22.2 million for the third quarter, reflecting steady growth from the previous year. The company continues to enhance its market position with strategic collaborations and a focus on expanding its product range.
Key financial highlights include a 4% increase in gross profit and a significant reduction in net cash used in operating activities by 39% in the third quarter. The company’s strategic collaborations with major retailers like Home Depot and Wayfair, as well as a significant equity investment of $11 million, underscore its robust growth strategy and market penetration.
Looking forward, SKYX aims to further its market reach with plans to have its products in tens of thousands of homes by 2025. The company is also optimistic about achieving cash flow positivity in 2025, supported by its innovative plug-and-play technology and extensive patent portfolio.
Overall, SKYX Platforms Corp is positioning itself for continued success, leveraging its collaborations and technological innovations to capture a larger share of the $500 billion addressable market in the U.S.
