Sql Technologies Corp ( (SKYX) ) has released its Q4 earnings. Here is a breakdown of the information Sql Technologies Corp presented to its investors.
SKYX Technologies Corp is a leading company in the smart home technology sector, specializing in advanced plug & play solutions for homes and buildings, with a strong portfolio of patents and a significant online presence.
In its latest earnings report, SKYX Technologies announced record revenues for the fourth quarter of 2024, reaching $23.7 million, marking a steady increase from the previous quarters. The company also secured additional strategic funding, enhancing its financial position to support further growth.
Key financial highlights include a consistent revenue growth trajectory throughout 2024, with quarterly revenues rising from $19 million in Q1 to $23.7 million in Q4. SKYX also announced a total of $12 million in preferred funding, led by The Shaner Group, to bolster its market expansion efforts. Strategic collaborations with major players like Wayfair and Cavco Homes, along with leadership appointments, are set to drive further market penetration.
Looking ahead, SKYX Technologies is poised to expand its market presence with expectations of its products being installed in 20,000 homes by the end of Q1 2025. The company remains committed to enhancing its product offerings and strengthening its strategic partnerships to maintain its growth momentum in the smart home technology market.