SKYX Platforms Corp. (NASDAQ: SKYX) provided a corporate update on Wednesday, highlighting a $9.5 million investment from leading shareholders that brings total cash, cash equivalents, restricted cash, and receivables to approximately $13 million as of Sept. 30, 2025. The company also extended and converted $13.5 million in near-term notes to 2030, strengthening its balance sheet and providing what it believes is sufficient capital to reach cash flow positivity.
Recent developments include a strategic agreement with Global Ventures Group to deploy SKYX smart technologies across tens of thousands of homes and hotel rooms in the Middle East. Additionally, the company expanded its participation in a $4 billion mixed-use smart city project in Miami, which is expected to include more than 500,000 units. SKYX also highlighted collaborations with Home Depot and Wayfair, as well as seven consecutive comparable quarters of revenue growth through Q3 2025.
Looking ahead, SKYX announced the upcoming launch of an AI-driven e-commerce platform designed to boost conversion and sales. The company also cited progress toward safety code standardization for its ceiling outlet technology, supported by industry veterans and ongoing engagement with regulatory and insurance stakeholders. For more details, the full press release is available at https://ibn.fm/ATYY8.
SKYX Platforms is focused on making homes and buildings safe, advanced, and smart as the new standard, with over 97 U.S. and global patents and patent pending applications. Additional information about the company can be found at https://skyplug.com/.
