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SQL Technologies (SKYX)
NASDAQ:SKYX
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SQL Technologies
(NASDAQ:SKYX)
47Neutral
Positive Factors
Innovation and Product Development
SKYX is transforming into a high-growth smart home and plug & play platform provider, supported by 97+ patents and next-gen products.
Partnerships and Collaborations
Collaborations with Wayfair and Home Depot are expected to drive material sales growth in both the retail and professional channels.
Negative Factors
Financial Performance
The company has sufficient capital for the foreseeable future, supported by an $11M preferred stock financing and ending 3Q24 with cash and equivalents of $13.0M.
SQL Technologies (SKYX) vs. S&P 500 (SPY)
Market Cap
$131.63M
Dividend YieldN/A
Average Volume (3M)446.62K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth46.76%
EPS Growth19.94%
CountryUS
Employees60
SectorIndustrials
Sector Strength67
IndustryIndustrial Goods
Share Statistics
EPS (TTM)-0.36
Shares Outstanding104,471,440
10 Day Avg. Volume517,311
30 Day Avg. Volume446,622
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.56
Price to Cash Flow (P/CF)-13.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.00Price Target Upside296.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
SQL Technologies Business Overview & Revenue Model
Company DescriptionSKYX Platforms Corp. provides a series of safe-smart platform technologies. The company's first-generation technologies enable light fixtures, ceiling fans, and other electrically wired products to be installed into a ceiling's electrical outlet box; and second-generation technology provides a platform that is designed to enhance safety and lifestyle of homes and other buildings. It offers power-plugs; universal power-plug and receptacle products; and smart products. The company was formerly known as SQL Technologies Corp. and changed its name to SKYX Platforms Corp. in June 2022. SKYX Platforms Corp. was incorporated in 2004 and is headquartered in Pompano Beach, Florida.
How the Company Makes MoneySQL Technologies (SKYX) generates revenue through the sale of its proprietary electrical and lighting products. The company's revenue model is primarily based on direct sales to consumers, businesses, and through partnerships with distributors and retailers in the electrical and lighting sectors. The company benefits from strategic partnerships with manufacturers and suppliers to produce its products at scale and distribute them efficiently across various markets. Additionally, SKYX invests in research and development to continually enhance its product offerings, thus maintaining a competitive edge in the industry and driving sales growth.
SQL Technologies Financial Statement Overview
Summary
SQL Technologies has shown strong revenue growth, but faces persistent challenges with profitability and high leverage. The balance sheet reveals financial risk due to high debt levels and negative equity trends, while cash flow generation remains weak, indicating reliance on external financing.Income Statement
SQL Technologies shows significant improvement in total revenue over the period, particularly a substantial increase in TTM compared to previous years. The Gross Profit Margin for TTM is approximately 27.86%, indicating improved profitability compared to earlier periods. However, the company is still facing challenges with negative EBIT and Net Profit Margin, reflecting ongoing operational inefficiencies and net losses.45
Neutral
Balance Sheet
The balance sheet reveals high leverage with a Debt-to-Equity ratio of over 10.24 in TTM, indicating financial risk. The company's equity has decreased substantially, reducing the Equity Ratio to a mere 5.90%. This signifies limited financial stability and potential solvency risks despite some asset growth.35
Negative
Cash Flow
Free Cash Flow has improved in TTM but remains negative, indicating cash flow challenges. The Operating Cash Flow to Net Income ratio is negative, suggesting that the company is not yet generating positive cash flow from operations. However, the cash flow from financing activities shows reliance on external financing.50
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 84.77M | 58.79M | 32.02K | 43.11K | 258.38K | 3.81M | Gross Profit |
| 23.63M | 18.04M | 13.11K | -106.18K | -244.66K | 153.48K | EBIT |
| -34.54M | -37.83M | -26.63M | -5.19M | -8.99M | -16.33M | EBITDA |
| -30.47M | -36.81M | -25.75M | -5.09M | -8.62M | -16.15M | Net Income Common Stockholders |
| -38.08M | -39.73M | -26.86M | -6.29M | -9.76M | -16.75M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.31M | 16.81M | 14.09M | 10.43M | 2.31M | 1.87M | Total Assets |
| 3.70M | 76.34M | 43.18M | 11.95M | 3.70M | 4.08M | Total Debt |
| 6.88M | 37.84M | 30.46M | 7.20M | 6.88M | 5.51M | Net Debt |
| 4.57M | 21.03M | 23.74M | -3.23M | 4.57M | 3.64M | Total Liabilities |
| 12.59M | 60.12M | 35.05M | 12.09M | 12.59M | 10.79M | Stockholders Equity |
| -8.85M | 16.22M | 8.13M | -102.28K | -8.85M | -6.67M |
| Cash Flow | Free Cash Flow | ||||
| -16.27M | -12.99M | -14.46M | -4.81M | -3.24M | -6.42M | Operating Cash Flow |
| -15.86M | -13.00M | -13.84M | -4.63M | -3.13M | -6.19M | Investing Cash Flow |
| -405.88K | 3.24M | -8.06M | -179.20K | -109.88K | -232.57K | Financing Cash Flow |
| 7.20M | 22.73M | 20.93M | 12.92M | 3.67M | 3.42M |
SQL Technologies Technical Analysis
Negative
1.26
Price Trends
1.53
Negative
1.34
Negative
1.17
Positive
Market Momentum
-0.07
Negative
43.99
Neutral
55.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SKYX, the sentiment is Negative. The current price of 1.26 is below the 20-day moving average (MA) of 1.26, below the 50-day MA of 1.53, and above the 200-day MA of 1.17, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 43.99 is Neutral, neither overbought nor oversold. The STOCH value of 55.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SKYX.
SQL Technologies Risk Analysis
SQL Technologies disclosed 60 risk factors in its most recent earnings report. SQL Technologies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SQL Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $266.65M | 8.98 | 19.64% | 2.30% | 4.65% | 23.82% | |
77 Outperform | $54.63B | 32.21 | 9.80% | 1.79% | -4.53% | -14.72% | |
69 Neutral | $20.54B | 25.68 | 142.12% | 0.79% | 7.21% | 36.45% | |
62 Neutral | $8.27B | 14.02 | 2.58% | 3.08% | 3.83% | -15.91% | |
61 Neutral | $6.55B | 40.41 | 21.61% | 0.52% | 2.75% | -5.43% | |
47 Neutral | $131.63M | ― | -283.03% | ― | 46.76% | 19.94% | |
47 Neutral | $5.15B | 13.03 | -12.77% | 7.46% | -14.64% | -167.22% |
* Industrials Sector Average
Performance Comparison
SKYX
SQL Technologies
1.26
-0.05
-3.82%
AAON
Aaon
80.24
-7.52
-8.57%
JCI
Johnson Controls
82.17
18.11
28.27%
LII
Lennox International
577.32
91.44
18.82%
WHR
Whirlpool
93.00
-18.71
-16.75%
HBB
Hamilton Beach Brands Holding Company
19.73
-4.10
-17.21%
SQL Technologies Earnings Call Summary
Earnings Call Date: Mar 24, 2025 | % Change Since: -6.67% | Next Earnings Date: May 12, 2025
Earnings Call Sentiment Positive
The earnings call presents a positive outlook with substantial revenue growth, strategic partnerships, and a clear path to becoming cash flow positive. Despite minor concerns about gross margins and tariffs, the management has plans in place to mitigate these challenges.Highlights
Revenue Growth
Revenue increased by 48% from $58.8 million in 2023 to $86.3 million in 2024. Net sales of advanced and smart home-related products surged over 1,000%.
Record Quarterly Revenue
Achieved revenue growth in 4 consecutive quarters for 2024 with record sales, reaching $23.7 million in Q4.
Cash Flow Positive Outlook
The company expects to become cash flow positive in the second half of 2025.
Partnerships and Collaborations
Significant partnerships with Home Depot, Wayfair, Cavco Homes, and others, enhancing market penetration with smart plug & play products.
Gross Profit Increase
Gross profit increased by 36% year-over-year, with an approximate increase of $6.5 million.
Cost Management
Reduction in G&A expenses by $5.7 million, from $37 million in 2023 to $31.4 million in 2024.
Strategic Investments
Secured $11 million of equity preferred stock investment led by Shaner Group, with additional insider investments.
Lowlights
Gross Margin Decline
Gross margin dipped in Q4; however, this is expected to be temporary with anticipated improvement in future quarters.
Tariff Concerns
Questions raised about the impact of tariffs, but mitigated by diversifying manufacturing locations to Vietnam, Taiwan, and Cambodia.
Company Guidance
During the SKYX Platforms Corporation Fourth Quarter 2024 Earnings Call, several key metrics were highlighted. The company reported a 48% increase in revenue for 2024, growing from $58.8 million in 2023 to $86.3 million. Net sales of advanced and smart home-related products surged over 1,000%, and the company anticipates placing its products in 20,000 units and homes by Q1 2025, with tens of thousands more expected throughout the year. They achieved record sales with quarterly revenue increasing to $23.7 million in Q4 2024 from $22.2 million in Q4 2023. The company reduced G&A expenses by $5.7 million to $31.4 million and decreased total liabilities by $3.3 million, along with a $3.9 million reduction in net loss compared to the previous year. Adjusted EBITDA loss per share was $0.13 in 2024, down from $0.17 in 2023. Furthermore, the company secured $11 million of equity preferred stock investment, and its gross profit increased by 36% year-over-year. SKYX plans to become cash flow positive in the second half of 2025, driven by significant projects and order growth.SQL Technologies Corporate Events
Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
SKYX Technologies Reports Record Q4 2024 Revenue Growth
Positive
Mar 17, 2025
On March 17, 2025, SKYX Technologies announced record revenues of $23.7 million for the fourth quarter of 2024, marking consistent growth throughout the year. The company also secured an additional $1 million in preferred funding, bringing the total to $12 million, led by The Shaner Group. SKYX expects its products to be in 20,000 homes by the end of Q1 2025 in the U.S. and Canada. The company is expanding its market presence through strategic partnerships, including collaborations with Cavco Homes and Wayfair, and strengthening its leadership team with industry veterans. These developments position SKYX as a significant player in the smart home technology market, enhancing its industry positioning and stakeholder confidence.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.