SKYX Platforms Corp. Annual Report: A Simple Breakdown

I’ve put together this guide to help you understand how SKYX Platforms Corp. performed this year. My goal is to turn complex financial filings into plain English so you can decide if this company fits your investment goals.

1. What does this company do?

SKYX wants to make installing ceiling lights and fans as easy as plugging in a lamp. Their system lets you snap fixtures into place in seconds, avoiding dangerous exposed wires. Beyond hardware, they are building an "all-in-one" smart home platform. Their SkyHome app lets you control lighting, fans, and security features like smoke detection from your phone. With over 60 patents, they have built a strong legal wall around their unique ceiling technology.

2. Recent business moves

The company’s biggest move this year was buying Belami, Inc., an online retailer. This gave SKYX access to over 60 websites and 10 million products, creating an instant distribution network. They now sell their smart products directly to homeowners and builders, keeping more profit by cutting out retail middlemen.

They are also pushing to make their "plug-and-play" technology the industry standard. They successfully lobbied to have their tech recognized in the 2023 National Electrical Code (NEC). While not mandatory yet, this regulatory win allows their products to be used in new construction across the U.S., helping them compete with traditional lighting companies.

3. Financial health: The "Building Phase"

To be clear: SKYX is still in the "building" phase and is not yet making a profit. The company lost $33.4 million in 2025, a slight improvement over their $35.8 million loss in 2024. Revenue reached $17.2 million, mostly thanks to the Belami e-commerce platform.

They have an "accumulated deficit" of $216.2 million. This means they have spent $216.2 million more than they have earned since they started. As of late 2025, they held $4.2 million in cash. Because they aren't profitable, they rely on selling more stock or taking on debt to survive. They have warned that they must raise more money within the next 12 months to keep operating. If they issue more shares to raise this cash, your ownership percentage in the company will decrease.

4. Key risks

• Cash Flow: With only $4.2 million in cash and annual losses over $30 million, the company is running low on funds. If they cannot raise more money, they may have to cut operations or issue more shares, which reduces your ownership stake.
• Execution: They are still learning to manufacture their own smart products at scale. Any production or supply chain issues could lead to empty shelves and lost sales.
• Market Adoption: Success depends on whether builders and homeowners actually switch to their system. Convincing traditional electricians to change how they work is a major hurdle.
• Trade Policies: Much of their inventory comes from overseas. New tariffs or trade laws could hurt their profit margins, which are already under pressure.

5. The Bottom Line

SKYX is a high-risk, high-reward investment. They have a clever, patented idea that solves a real safety problem. However, they are burning through cash quickly. Their future depends entirely on mass-market adoption and their ability to secure more funding to reach profitability.

Before you decide: Ask yourself if you are comfortable with a company that is still in its early, cash-heavy growth stage. If you believe their "plug-and-play" tech will become the new standard for homes, the potential is there—but the path to getting there involves significant financial hurdles.