SKYX Platforms Corp. (NASDAQ: SKYX), a smart home platform technology company, provided a corporate update highlighting new product launches, a collaboration with NVIDIA's AI ecosystem, and $29 million in recent investments from fundamental institutions. The company has raised over $33 million in cash since September 30, 2025, including a $25 million investment at $2.50 per share in straight common stock with no warrants. Management believes these funds will support growth initiatives and progress toward cash-flow generation and profitability.
SKYX announced a collaboration with the NVIDIA AI Ecosystem Connect Program, expecting to expand this partnership into existing and future smart home projects. The company also launched its patented SKYFAN and Turbo Heater at Home Depot, with a dedicated SkyPlug branding page on homedepot.com. Additional launches of the Turbo Heater Fan at Target, Walmart, Lowe’s, and across 60 e-commerce websites are expected to drive significant growth in 2026.
Revenues have increased for seven consecutive comparable quarters from Q1 2024 through Q3 2025, with expectations for continued quarterly growth. SKYX anticipates securing significant business opportunities in 2026, including supplying technologies to a North Carolina smart home community, developments in Austin, San Antonio, Miami’s $4 billion Smart City, Saudi Arabia, and Egypt. The company expects to deploy over 1 million units of its plug-and-play technologies across these projects.
SKYX’s safety code standardization team, led by former National Electrical Code head Mark Earley and former American Lighting Association CEO Eric Jacobson, continues efforts toward making its ceiling outlet/receptacle technology a mandatory safety standard. The company believes its products can save insurance companies billions annually by reducing fires, ladder falls, and electrocutions.
SKYX also demonstrated its technology during a Marriott Hotel renovation, with the Shaner Group, a hotel owner and developer, leading a $16.5 million investment round. The company expects to grow its hotel segment in 2026 and plans to launch a new AI-driven software for its e-commerce platform, aiming to increase conversion rates and sales by up to 30%.
With over 100 pending and issued patents globally and 60 lighting and home decor websites, SKYX focuses on a "Razor & Blades" model, offering advanced ceiling outlets and smart home plug-and-play products. The company’s total addressable market in the U.S. is estimated at $500 billion, with over 4.2 billion ceiling applications.
