SKYX Platforms Corp. (NASDAQ: SKYX), a smart home platform technology company with over 100 patents and 60 lighting and home décor websites, today provided a corporate update covering new product launches, a collaboration with NVIDIA, and significant investments from fundamental institutions.
The company announced the launch of its patented advanced SKYFAN and Turbo Heater at U.S. leading retailer Home Depot, including a new SkyPlug branding page on homedepot.com. Additionally, SKYX has launched its Turbo Heater Fan at other major retailers including Target, Walmart, and Lowe's, as well as on its e-commerce platform comprising 60 websites. The company expects continued significant growth with these products in 2026, advancing its path to cash-flow positive.
SKYX also announced a collaboration with the NVIDIA AI Ecosystem Connect Program and expects to grow this collaboration into its existing and future smart home projects. This partnership is anticipated to drive AI-driven software enhancements for its e-commerce platform, expected to increase conversion rates and sales by up to 30%.
The company reported that revenues have increased for seven consecutive comparable quarters from Q1 2024 through Q3 2025 and expects to continue its quarterly growth. Since reporting $13 million in total cash and receivables as of September 30, 2025, SKYX has raised over $33 million in cash from fundamental institutions and existing investors, including a $25 million investment at $2.50 per share in straight common with no warrants. All investments were made without warrants, strengthening the company's balance sheet.
Management believes the company is well capitalized to execute its growth initiatives while progressing toward sustained cash-flow generation and profitability. The company has also extended and converted $13.5 million in notes coming due, with maturity extended to 2030.
SKYX expects to deploy over 100,000 of its products into homes and units by the end of 2026 through retail and professional segments. The company is also expected to supply its advanced and smart home technologies to upcoming key projects in the U.S. and globally, including a North Carolina smart home community, Austin Texas, San Antonio Texas, Miami Florida's new $4 billion smart city, Saudi Arabia, and Egypt, among others. Over 1 million units of its plug-and-play technologies are expected to be deployed during these projects.
Regarding safety standardization, SKYX's code team, led by industry veterans Mark Earley and Eric Jacobson, continues progress toward a mandatory safety standardization of its ceiling outlet/receptacle technology. The company believes its products can save insurance companies billions of dollars annually by reducing fires, ladder falls, and electrocutions.
SKYX's technologies provide opportunities for recurring revenues through interchangeability, upgrades, AI services, monitoring, and subscriptions. The company has secured strategic manufacturing partnerships in the U.S., Vietnam, Taiwan, China, and Cambodia.
For more information, visit the company's website at https://skyplug.com/.
