May 28, 2025 (PRISM News via COMTEX) --
Company to Deploy Over 500,000 Smart Home Units in $3 Billion Miami Project; Added to Russell 2000(R) and 3000(R) Indexes
SKYX Platforms Corp. (NASDAQ: SKYX), a smart home platform technology company with over 97 issued and pending patents and a portfolio of more than 60 lighting and home decor websites, continues to advance its strategic vision following a series of major milestones.
Smart Infrastructure at Scale: Miami Deployment Marks New Era
SKYX was recently selected as the exclusive smart home infrastructure provider for a $3 billion, 63-acre mixed-use development in Miami's Little River District. The project will integrate SKYX's patented plug & play technology across more than 5,700 residential units, including 2,400 affordable apartments. In total, over 500,000 SKYX smart devices are expected to be deployed.
"Our advanced plug & play smart platform was designed to support the next generation of urban developments, said Rani Kohen Founder, Inventor and Executive Chairman of SKYX Platforms Corp, "We look forward to the opportunity to contribute to a connected, safer, and more efficient living environment."
Each home will feature SKYX's all-in-one smart platform with voice and app controls, emergency 911 functions, environmental sensors, smoke and CO detectors, smart lighting, thermostats, and Wi-Fi-enabled intercom systems. The system streamlines installation for builders while supporting recurring revenue through future product upgrades, software subscriptions, and monitoring.
Russell Index Inclusion Signals Institutional Traction
SKYX also announced that it is set to join the Russell 2000(R) and Russell 3000(R) Indexes following FTSE Russell's 2025 annual reconstitution. The company's inclusion will become effective after the U.S. market opens on June 27, 2025.
"This is an exciting milestone that reflects the strong progress SKYX has made in scaling our business and executing our strategic vision," said Lenny Sokolow, Co-CEO of SKYX. "We believe that inclusion in the Russell indexes will help broaden investor awareness of our technology platform and increase institutional ownership as we continue to grow and advance our mission to make homes and buildings safer and smarter."
Financial Performance Underscores Growth Trajectory
SKYX reported record first quarter 2025 results, driven by increased market adoption of its platform and operating discipline:
- Revenue of $20.1 million, up from $18.9 million in Q1 2024
- Gross margin improvement of 4.8% sequentially
- G&A expenses reduced by 17%
- $4 million in new equity funding, part of a $15 million strategic round led by The Shaner Group
- Products expected in 30,000 homes by the end of Q2, with additional growth forecast for H2 2025
Management reiterated expectations to become cash flow positive in the second half of the year, supported by a "razor and blade" business model. SKYX's patented ceiling outlet serves as the core platform (razor), while its expanding line of plug & play fixtures--lighting, fans, emergency signs, and smart modules--represent the recurring revenue drivers (blades).
Positioned for Scalable, Long-Term Growth
SKYX's plug & play technology enables rapid installation, making it ideal for high-rise buildings and hotels. The platform supports ongoing revenue through product interchangeability, upgrades, software licensing, and monitoring services.
With a total addressable market of over $500 billion in the U.S. and 4.2 billion ceiling applications, SKYX's growth strategy is further supported by efforts to pursue mandatory safety standardization and expanded U.S. manufacturing partnerships. As smart infrastructure adoption accelerates, SKYX is positioned to lead in delivering safe, efficient, and connected solutions at national scale.
For SKYX's Technologies Video Link CLICK HERE
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COMTEX_465879822/2927/2025-05-28T12:01:36
