SKYX reports record Q3 revenue of $22.2M; adjusted EBITDA loss of $2.6M

SKYX Platforms Corp.

2024-Q3 EPS reported -$0.25 revenue$62,592,888

Revenue of $22.2M, up 3% sequentially and from $21.6M in Q3 2023; gross profit $6.8M, up 4% sequentially.
Net cash used in ops fell 39% sequentially to $2.6M; cash and equivalents $13.0M as of Sept 30 before $11M Oct equity raise.
October equity raise of $11M at $2.00/share with no warrants; led by hotel developer Lance Shaner with insider participation.
Products now in 100 Home Depot stores; collaborations with Wayfair, GE Licensing, and Ruee Appliances for manufacturing.
Management expects to be cash flow positive in 2025; targeting 15,000 homes by end of 2024.

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